UPDATE 1-Turkish banks in no rush to sell problem loans, focused on restructurings -sources [Reuters]
AKBANK T/A/S S/ADR (AKBTY)
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Source: Reuters
UPDATE 1-Turkish banks in no rush to sell problem loans, focused on restructurings -sources (Adds quotes, details, background) By Ebru Tuncay and Can Sezer ISTANBUL, May 10 (Reuters) - Turkish banks told foreign investors they were in no rush to sell problem loans on their books, and were focused on restructuring them, three people present at a meeting discussing bad debt on Thursday in Istanbul told Reuters. Deutsche Bank, Cerberus, Goldman Sachs, Bain and the European Bank for Reconstruction and Development (EBRD) attended the meeting on Thursday to discuss the possible sale of problem loans, the attendees said. Economists have expressed concerns about the transparency of non-performing loans held by Turkish banks which surged after last year’s lira crisis led to a sharp rise in the cost to borrowers of servicing foreign debt.. Several large Turkish companies, including Dogus Holding and Yildiz Holding, sought restructurings last year and Turkish Finance Minister Berat Albayrak last
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