Turkiye Garanti Bankasi Sells Non-Performing Loans Portfolio

Turkiye Garanti Bankasi A.S. (TGBD) has announced the sale of its non-performing loan portfolios. The portfolio includes loans, credit cards, general purpose loans, and commercial loans among others with related receivables and expenses. The total principal and interest amount sold was approximately TL 2.05 billion. The sale was divided into four separate portfolios.

The largest transaction amounted to TL 599.89 million sold to Gelecek Varlık Yönetimi A.Ş. for TL 62 million. Other transactions were conducted with the same entity and with Birikim Varlık Yönetim A.Ş. in amounts ranging from TL 448.41 million to TL 549 million, with considerations between TL 49 million and TL 56 million.

The total consideration for the transactions amounted to TL 216 million. The bank affirms all disclosures are aligned with its records and regulations. The Turkish version of the announcement takes precedence in case of discrepancies.