Istanbul-listed Garanti BBVA sells TRY 1.3bn NPL portfolio at 38% recovery rate

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Major NPL sales by Turkish lenders
	Seller	TRYmn	Price	Recovery	Buyers
Sep-23	QNB Finansbank (QNBFB)	908	-	-	Ortak, Dunya, Emir
Sep-23	Garanti (GARAN)	1,293	492	38%	Ortak, Dunya, Sumer
Jun-23	Yapi Kredi (YKBNK)	1,070	334	31%	Birlesim, Dunya, Gelecek (GLCVY), Sumer
Jan-23	Denizbank	604	-	-	Ortak, Birlesim, Emir, Hedef, Dogru, Birlesim, Gelecek (GLCVY)
Dec-22	Denizbank	100	-	-	Birikim (BRKVY)
Dec-22	Garanti (GARAN)	691	164	24%	Gelecek (GLCVY), Dunya
Sep-22	Yapi Kredi (YKBNK)	565	113	20%	Emir, Denge, Efes, Hedef
Jun-22	Garanti (GARAN)	433	100	23%	Dunya, Birikim (BRKVY)
Apr-22	Yapi Kredi (YKBNK)	1,324	205	15%	Gelecek (GLCVY), Ilke, Birlesim, Dunya, Ortak, Arsan, Diriker
Apr-22	Akbank (AKBNK)	1,531	181	12%	Birikim (BRKVY), Ortak, Met-Ay, Denge

Turkey Banking Industry: Problem Loans
	NPL	Monitoring	Restructured	Problem		Performing	Total	NPL	Monitoring	Total Problem
TRYbn	Stage 3-4-5	Stage 2	(In Stage 2)	2+3+4+5	Equity	Stage 1	Loans	Ratio	Ratio	Ratio
Jun-2023	158	794	425	952	1,688	8,690	9,718	1.6%	8.2%	9.8%
Sep-2022	151	624	405	775	1,189	5,879	6,714	2.2%	9.3%	11.5%
Jun-2022	151	596	368	747	1,027	5,387	6,185	2.4%	9.6%	12.1%
Dec-2021	149	543	342	692	714	4,147	4,883	3.1%	11.1%	14.2%

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