Page 41 - TURKRptSep20

8.1.3​ NPLs
Major NPL sales by Turkish lenders
Seller
TRYmn
Price
Recovery
Buyers
Dec-19
ICBC
18
-
-
Emir
Dec-19
Seker
150
-
-
Sumer
Dec-19
Akbank
715
33
4.59%
Istanbul, Gelecek
Dec-19
Garanti
323.3
25.1
7.76%
Efes, Gelecek
Oct-19
Deniz
205
-
-
Hedef, Emir
Sep-19
Isbank
1097
32
2.95%
Efes, Hayat, Birikim, Dogru
Jul-19
Garanti
260
19
7.12%
Gelecek
Jun-19
Yapi Kredi
917
26
2.79%
Arsan, Dogru, Efes, Emir, Gelecek, Hayat, Sumer
Jun-19
Seker
203
-
-
-
May-19
Yapi Kredi
298
23
7.61%
Hayat, Arsan
May-19
Isbank
418
30
7.17%
Efes, Gelecek
Apr-19
Garanti
365
19
5.33%
Apr-19
Yapi Kredi
529
16
3.08%
Sumer
Gelecek, Hayat
Mar-19
Yapi Kredi
396
24
6.07%
Efes, Gelecek
Turkish corporations are still feeling a lot of the pain caused by the August 2018 lira crisis and they are not well positioned to deal with a fresh financial storm triggered by the coronavirus (COVID-19) pandemic, according to market participants ​polled​ by Debtwire.
“The next wave of restructuring was expected to hit at the end of 2020 or beginning of 2021, but it will be earlier now,” an Istanbul-based financial advisor said.
A surge in lending, most particularly from state-owned banks, and government decreed reductions in local interest rates nevertheless mean that many companies will be able to refinance their debts.
41​ TURKEY Country Report​ September 2020 ​ ​www.intellinews.com