Page 24 - TURKRptApr21

6.1.3 NPLs
A number of contractors doing business with Turkey’s public sector “may go bankrupt because their contracts with the state do not protect them against rising costs.”
NPL
Monitoring
Problem
Performing
Total
NPL
Monitoring
Total
TRYbn
Stage 3
Stage 2
2+3
Equity
Stage 1
Loans
Ratio
Ratio
Ratio
Sep-2020
151
382
533
569
3,022
3,555
4.2%
10.7%
15.0%
Jan-2021
152
388
539
605
3,015
3,555
4.3%
10.9%
15.2%
March 12
150
3,632
4.1%
Major debt restructurings by Turkish borrowers
Borrower
Owner
Amount
Maturity
Banks
Mar-21
Global Liman (GPH)
Global Yatirim holding
$250mn
2024
eurobond due Nov 14, 2021
Mar-21
86% of business owners
rent, utility bills, tax
-
-
-
Feb-21
TAV Tunisia
TAV (TAVHL)
€371mn
-
local banks
Feb-21
Istanbul Airport
Kalyon, Cengiz, Mapa, Limak
-
2024
DHMI (Turkish airports authorithy)
24 TURKEY Country Report April 2021 www.intellinews.com