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Türkiye Garanti Bankası off-loads NPL portfolio

Türkiye Garanti Bankası AŞ sold a nonperforming loan portfolio to Güven Varlık Yönetim AŞ for 17.6 million Turkish lira.

The portfolio comprised general purpose loans, receivables arising from credit cards, overdraft loans and expenses in the total principal amount of 337.2 million lira, along with accrued interest as of Nov. 20.

As of Dec. 24, US$1 was equivalent to 5.29 Turkish lira.