September 10, 2019 / 12:03 PM / 7 days ago

Turkey to restructure $10 billion electricity sector debt this year - banking association

ISTANBUL (Reuters) - Around $10 billion (8.10 billion pounds) bank debt in the Turkish electricity production and distribution sector is expected to be restructured this year, Turkey’s banking association (TBB) said on Tuesday.

In a statement, the TBB also said the total debt stock of the sector is around $47 billion with around one fourth in need for restructuring.

The TBB also said that even if all electricity production and distribution sector debt became non-performing it would raise banking sector’s NPL ratio by only 0.22 percentage points.

Reporting by Ali Kucukgocmen; Writing by Ezgi Erkoyun; Editing by Daren Butler

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