June 23, 2020 / 9:11 AM / 12 days ago

Turkey could support formation of asset management company for bad loans -minister

ISTANBUL, June 23 (Reuters) - Turkish Finance Minister Berat Albayrak called on banks to speed up re-structuring of loans and said the government would support formation of an asset management company to take on loans of problematic companies from all banks.

Speaking at the general assembly of the Turkish Banking Association, Albayrak said the government was aware of plans by banks to set up the asset management company, adding that it should have an effective model.

He added that Turkey’s exports had increased 24.6% year-on-year in the first 21 days of June, according to data from the Turkish Exporters Assembly. (Reporting by Ebru Tuncay; Writing by Ali Kucukgocmen; Editing by Ece Toksabay)

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