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Türkiye Garanti Bankasi sells NPL book worth more than 294M lira

Türkiye Garanti Bankasi AS sold a 294.1 million Turkish lira nonperforming loan portfolio to Sümer Varlik Yönetim AS and Hayat Varlik Yönetim AS for a total consideration of about 17.5 million lira.

The portfolio includes receivables arising from credit cards, general purpose loans, overdraft loans, commercial loans, cheque accounts, as well as insurance receivables and expenses, the Turkish lender said Dec. 15.

As of Dec. 15, US$1 was equivalent to 3.87 Turkish lira.