Yapi Ve Kredi Bankasi AS has sold its non-performing loan (NPL) portfolio to Guven Varlik Yonetim AS in a deal worth $148 million.
The NPL portfolio consists mainly of credit cards and personal loans. The sale is part of UniCredit Group's desire to reduce non-performing exposure (NPE). The deal does not affect UniCredit Group's NPE ratio.
Yapi Kredi is mostly owned by Koc Finansal Hizmetler AS, of which UniCredit Group owns half.
Yapi Kredi sells non-performing loans to Guven Varlik Yonetim