Turkey's Akbank sells 251 mln lira (89 mln euro) in NPLs for 41 mln lira

The loans were sold to local asset manager Efes Varlik Yonetim, Akbank said in a bourse filing.

Akbank is one of the largest private banks in Turkey with consolidated total assets of 215 billion lira as at the end of September 30. It is 48.9%-owned by local conglomerate Sabanci Holding and its affiliates, 9.9% by Citigroup and the remaining 41.2% of the bank’s stock is listed on Borsa Istanbul.

(1 euro = 2.8197 Turkish lira)