Page 50 - TURKRptAug20
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  8.1.4​ 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%
Sumer
                     Apr-19
Yapi Kredi
529
16
3.08%
Gelecek, Hayat
                      Mar-19
Yapi Kredi
396
24
6.07%
Efes, Gelecek
            Turkish banking watchdog BDDK has fined Akbank, one of Turkey’s largest private banks and controlled by Turkish conglomerate Sabanci Holding, Turkish lira (TRY) 156mn ($23mn) for violating a directive aimed at limiting coronavirus (COVID-19) impacts, the lender ​confirmed​ in a stock exchange filing.
Akbank said it would pay the fine ahead of its due date to benefit from a 25% discount. The fine will have no effect on Akbank’s next income statement, with Seker Invest expecting the lender to report TRY1.5bn in net income for Q2, up 19% y/y.
The BDDK has ​fined more than 20 banks and financial institutions a total of TRY330mn​ for carrying out transactions seen as contrary to its orders during the COVID-19 outbreak, during which the Erdogan administration has stepped up its credit-fuelling of an already fragile economy. However, the watchdog has not released the names of the institutions.
Since the beginning of May, the BDDK has announced four rounds of fines.
In May, a total of $2.84mn in fines were levied against 15 banks and 18 banks were fined a total of TRY102.1mn.
In June, the regulator fined 16 financial institutions a total of TRY2.1mn.
‘Inquiry into complaints’ ​The banking watchdog said on June 9 that seven banks were slapped with a TRY204.7mn overall fine, Daily Sabah reported. The announcement was actually released on July 9. “The inquiry process regarding customers’ complaints is ongoing,” the BDDK said in a statement.
The BDDK said the fines were handed down after it examined “the complaints by individual and commercial customers conveyed to our institution during the period of battling the COVID-19 outbreak”.
Sources at BDDK told government-run new service Anadolu Agency (AA) that most of the violations were categorised under 10 complaints.
                  50​ TURKEY Country Report​ August 2020 ​ ​www.intellinews.com
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