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ISTANBUL - Turkiye Garanti Bankasi (IS:GARAN) A.S. (TGBD), commonly known as Garanti BBVA (BME:BBVA), has announced the sale of a significant non-performing loan (NPL) portfolio. The transaction involved the transfer of various types of receivables to Doğru Varlık Yönetim A.Ş., a debt management firm.
The sold portfolio comprises receivables totaling 244.529.933,21 Turkish Lira, including the principal amount and accrued contractual interest as of March 25, 2025. The receivables consist of defaulted loans, credit cards, general purpose loans, cheque accounts, commercial loans, overdraft accounts, and all associated expenses and interest.
Doğru Varlık Yönetim A.Ş. acquired the NPL portfolio for a total consideration of 41.000.100,00 Turkish Lira. The sale is part of the bank’s strategy to manage and reduce its exposure to non-performing assets, a common practice in the banking industry to improve balance sheet health and operational efficiency.
Garanti BBVA has confirmed that the details provided in the announcement are in accordance with the principles of the Board’s Communiqué, Serial II Nr.15.1, and reflect accurate and complete information as per the bank’s records and documents. The bank also takes full responsibility for the accuracy of the statements made in the announcement.
This move by Garanti BBVA is part of a broader trend within the banking sector to offload non-performing assets, allowing financial institutions to streamline their operations and focus on their core business activities. The sale is expected to have a positive impact on the bank’s financial standing by reducing the amount of non-performing assets on its balance sheet.
The announcement is based on a press release statement and provides a factual account of the sale without any endorsement of the claims.
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