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TURKEY - Turkiye Garanti Bankasi A.S. (TGBD) sold non-performing loan portfolios totaling TL 1.89 billion in principal and contractual interest for TL 252 million, according to a press release statement.
The bank completed five separate transactions in March 2026, disposing of receivables from various loan types including credit cards, general purpose loans, commercial loans, and overdraft accounts.
Gelecek Varlık Yönetimi A.Ş. acquired three portfolios totaling TL 927.6 million in principal and interest for TL 147 million. The transactions occurred on March 11, March 12, and March 13, with consideration amounts of TL 37 million, TL 54 million, and TL 56 million respectively.
Adil Varlık Yönetim A.Ş. purchased a portfolio valued at TL 500.6 million in principal and interest for TL 50 million on March 16. Dünya Varlık Yönetim A.Ş. acquired the fifth portfolio, totaling TL 459.5 million in principal and interest, for TL 55 million on March 17.
The sales represent a recovery rate of approximately 13.3% on the combined face value of the non-performing loans.
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