April 12, 2019 12:21 pm

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

This post was written by Jens Secker

(Image rights: istockphoto.com/Gogosvm)

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