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Report: Garanti Bankasi sells NPL portfolio receivables

TürkiyeGaranti Bankasi AS said March 30 that it sold certain nonperformingloan portfolio receivables.

Receivables with a total principal amount of about 175.2million Turkish lira, which were related to credit cards, general purposeloans, overdraft loans and expenses, were sold to Sümer Varlik Yönetim AS for atotal consideration of 28.0 million lira.

Commercial receivables with a total principal amount ofaround 158.7 million lira, which were related to commercial loans, creditcards, check accounts, overdraft loans and expenses, were sold to fora total consideration of about 2.3 million lira.

As of March 30, US$1was equivalent to 2.83 Turkish lira.