Turkiye Garanti Bankasi A.S. Completes Sale of Non-Performing Loans Portfolio

Turkiye Garanti Bankasi A.S. has officially sold its non-performing loan (NPL) portfolio, comprising receivables amounting to TL 1.147.910.095,73. These receivables encompass sums of principal and accrued contractual interests from various credit facilities, including credit cards, general purpose loans, commercial loans, cheque accounts, and overdraft loans up until specific dates in January and February 2024. Dünya Varlık Yönetim A.Ş. acquired the portfolios for a total sum of TL 525.800.000,00.

In the announcement made to the investment community, the bank emphasized that this move was in line with principles of the Board’s Communiqué, Serial II Nr.15.1, and assured that all information disclosed was accurate to their records and documents. The bank also underscored their commitment to transparency and completeness in the information provided.

This strategic sale is part of the bank’s efforts to streamline its operations and focus on more profitable ventures. Stakeholders have been assured of the bank’s dedication to maintaining high standards of disclosure and transparency in all its dealings.