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6.0 Financial & capital markets 6.1 Bank sector overview
6.1.1 Loans
6.1.2 NPLs
The Turkish banking industry’s non-performing loan (NPL) sales to asset management companies declined sharply to Turkish lira (TRY) 990mn ($117.2mn) in 2020 from TRY13bn in 2019, Sezin Unludogan, head of Turkey’s asset management companies association VYSD, said on May 11.
The industry’s problem loans currently stand at more than TRY520bn, according to Unludogan.
In March, Istanbul-listed Isbank (ISCTR) sold a TRY 745mn portfolio of NPLs to asset management firms Emir, Istanbul, Gelecek and Varlik for a consideration of TRY72mn, suggesting a 10% recovery rate.
27 TURKEY Country Report June 2021 www.intellinews.com
