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Garanti sells NPL portfolio for 9.0M lira

Türkiye Garanti Bankasi AS said March 23 that it sold its nonperforming loan portfolio receivables arising from credit cards, general purpose loans, overdraft loans and expenses to Sümer Varlik Yönetim AS for just over 9.0 million Turkish lira.

The portfolio had a total principal amount of 109.8 million lira as of Feb. 19.

As of March 23, US$1 was equivalent to 3.63 Turkish lira.