Garanti BBVA Sells TRY 2 Billion in Non-Performing Loans

Garanti BBVA has divested a portion of its non-performing loan portfolio. The bank transferred non-performing loans totaling TRY 2.02 billion to four different asset management companies. The portfolio subject to the sale consists of Garanti BBVA's non-performing loans. The receivables were sold to Adil, Dünya, Emir, and Gelecek Asset Management companies. Through this transaction, the bank has offloaded the collection risk associated with these receivables. Garanti BBVA's move is seen as part of its strategy to reduce non-performing loans and strengthen its balance sheet. The bank has previously engaged in similar sale transactions. This is not investment advice.