Turkiye Garanti Bankasi A.S. Sells Non-Performing Loans Portfolio

Turkiye Garanti Bankasi A.S. (TGBD) has announced the sale of its non-performing loan portfolio. This significant move involves transferring several categories of loans, including credit cards and commercial loans, along with their interest amounts. The transactions were completed in five separate tranches to different management companies. The total principal and interest amount reached TL 1,887,705,037.25, sold for a total of TL 252,000,000.00.

Among the sales, Gelecek Varlık Yönetimi A.Ş. acquired three portfolios, totaling nearly TL 928 million in principal and interest, for TL 147 million. Another tranche was sold to Adil Varlık Yönetim A.Ş., and Dünya Varlık Yönetim A.Ş. purchased a portfolio with a principal and interest value of TL 459,530,289.97 for TL 55 million.

This transaction aligns with the regulatory framework and reflects the bank's commitment to transparency and accurate financial reporting. The sales aim to streamline the bank's portfolio by offloading non-performing assets.