Turkey boosts state banks
The Turkish government is strengthening state banks with a big financial stimulus, said Minister of Finance Berat Albayrak on Wednesday at a news conference in Istanbul. The loan, which the banks are to receive, amounts to 28 billion lira, the equivalent of about 4.4 billion euros.
In addition, the government in Ankara continues to work on a solution for the NPL problem of the Turkish financial institutions. In the past, a bad bank-like vehicle which is to buy the bad loans from the banks has already been discussed. Reuters