Gelecek Varlık acquired a 960 million Turkish lira non-performing loan portfolio of Yapı Kredi Bank

Gelecek Varlık

Gelecek Varlık won the auction for 5 individual portfolios totaling 960.17 million TL from Yapı Kredi Bank.

Gelecek Varlık provided the following information in the disclosure made to the Public Disclosure Platform (KAP) regarding the matter.

“Our company has won the auction for 5 individual portfolios, totaling 960.17 million TL in principal amount, among the 8 portfolios put up for sale on 06/11/2023 as part of the non-performing loan sale conducted by Yapı Kredi Bankası A.Ş., by offering the highest bid. A total of 13 asset management companies participated in this auction.

The finalization of the auction results is subject to the approval of the bank’s Board of Directors, and following the approval, the process of signing the contract and the transfer of the receivables will commence.

We hereby present this information to the public.”

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