On 28 March 2008, Yapı Kredi (YKB) completed a transaction to sell a portfolio of corporate, commercial and SME non-performing loans with an account balance of YTL 429 mln (principal amount of YTL 532 mln according to legal execution files and protocols) to LBT Varlık Yönetimi (Lehman Brothers) in return for YTL 60.5 mln.
The sale has been completed within the anticipated timeline and will have a positive P&L impact of 8.9 mln YTL which will be reflected in YKB’s 1Q08 financials.
The transaction has a positive impact of 133 bps on YKB’s NPL ratio, reducing it to ~4% as of end of February 2008.
İstanbul, 28 March 2008
Enquiries:
Yapı Kredi Investor Relations
Tel: (90)(212) 339 7647
Email: yapikredi_investorrelations@yapikredi.com.tr
Yapı Kredi / 28 Mar 2008