Denizbank Sells 75 Million Liras of Bad Loans for 7.25 Million

Denizbank AS (DENIZ), the Turkish bank bought by Russia’s OAO Sberbank (SBER) on June 8, said it sold 75.1 million liras ($41 million) of bad loans for 7.25 million liras.

The package of non-performing personal, corporate and commercial loans was sold to debt collection companies Efes Varlik Yonetim AS and LBT Varlik Yonetim AS, Denizbank said in a statement to the stock exchange today.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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