October 14, 2019 / 8:32 AM / a month ago

Turkish bank group launches loan restructuring plan for companies

ISTANBUL, Oct 14 (Reuters) - Turkey’s banking association said on Monday it would launch a restructuring programme that would benefit large companies with loans from banks of more than 25 million lira ($4.2 million).

The association - which has been at the center of discussions of how to deal with Turkey’s billions of dollars in bad debt - added that it would also implement a loan restructuring programme for smaller companies, pending approval.

$1 = 5.9060 liras Reporting by Birsen Altayli; Writing by Jonathan Spicer

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