April 4, 2019 / 3:41 PM / 2 months ago

EBRD says ready to increase Turkish bad loan help if asked

LONDON, April 4 (Reuters) - The European Bank for Reconstruction and Development is ready to help Turkey tackle the growing level of unpaid and problem loans in its banking sector if asked, one the development bank’s top officials said on Thursday.

“The EBRD is interested to deepen its work in the non-performing loan (NPL) space in Turkey,” Arvid Tuerkner, EBRD managing director for Turkey.

The EBRD is already a shareholder in Hayat Varlik, a former Lehman Brothers subsidiary and leading non-performing loan purchasing and collection company in Turkey.

“We haven’t been approached (by Turkish authorities) yet with a proposal to invest in an NPL vehicle/SPV, but would look at it, and are ready to engage, if the structure meets our commercial and sound banking requirements,” Tuerkner added. (Reporting by Marc Jones)

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