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Turkey's Yapi Kredi to sell 61 mln lira (21.4 mln euro) in NPLs for 8.3 mln lira

Dec 18, 2014, 4:32:11 PMArticle by Yurkie Ali
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ISTANBUL (Turkey), December 18 (SeeNews) – Turkish lender Yapi Kredi [BIST:YKBNK] said it has agreed to sell a non-performing loan (NPL) portfolio of credit cards amounting to 61.1 million Turkish lira ($26.3 million/21.4 million euro) for 8.3 million lira.

Turkey's Yapi Kredi to sell 61 mln lira (21.4 mln euro) in NPLs for 8.3 mln lira

The bank will sell the loans to local asset manager RCT Varlik Yonetim, it said in a bourse filing on Wednesday.

Yapi Kredi is Turkey's fourth largest privately owned bank with assets of 182 billion lira as of September 30. Its majority holder, with an 81.8% stake, is Koc Financial Services, which is a 50-50 joint venture between Turkey's conglomerate Koc Group and Italy's UniCredit.

(1 euro = 2.8556 Turkish lira)

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