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8.1.4 NPLs
Fewer Turkish companies seeking protection amid improving economic conditions says finance minister. Turkey's Finance Minister Berat Albayrak said on April 24 that 787 firms who sought protection from creditors have emerged from the process with a total of Turkish lira (TRY) 8bn ($1.36bn) of restructured credit. Applications for the process known locally as concordato fell by two-thirds in the first quarter from the previous period, Albayrak added. According to the minister, the decline in the number of companies seeking protection reflects “the positive effects of the rebalancing in the local economy”.
76 TURKEY Country Report May 2019 www.intellinews.com