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Albaraka Türk selling NPL portfolio

Albaraka Türk Katilim Bankasi AS decided to sell a portfolio of 164.5 million Turkish lira in nonperforming loans to Sümer Varlik Yönetim AS for 1.6 million lira, Reuters reported Oct. 4.

As of Oct. 4, US$1 was equivalent to 3.57 Turkish lira.