State-owned bank probed over bad loan

State-owned bank probed over bad loan

Aysel Alp ANKARA / Hürriyet
Turkish ruling and opposition party members of Parliament jointly slammed state-owned Ziraat Bank for lending 270 million euros to a shopping mall without asking for a guarantee, even though the debtor was already in bad shape financially.

The board chairman and deputy general directors of Ziraat Bank were questioned by the Government Business Enterprises Commission of the Turkish Parliament yesterday for the bad loan that Ora Shopping Mall received from the lender and failed to pay.

The company, which already received 160-million-euro loan from Turkey’s Garanti Bank, visited Ziraat as it failed to pay.

“Didn’t you ask ‘why did your relation with another bank remain at half and you came to us’?” Mehmet Domaç, Istanbul deputy from the ruling Justice and Development Party (AKP), asked yesterday.

Some MPs from the main opposition Republican People’s Party (CHP) also questioned the reports prepared during the lending process, which are conflicting over the feasbility of the project.
LATEST NEWS

  1. Over 47 million foreign tourists visit Türkiye in 10 months

  2. Probe launched into journalists Altaylı, Saymaz

  3. Greece pushes green transition on its fragile islands

  4. AI firms seek accords with publishing giants to maintain growth

  5. Competition authority launches probe into Mastercard, Visa
Recommended

Over 47 million foreign tourists visit Türkiye in 10 months

AI firms seek accords with publishing giants to maintain growth

Competition authority launches probe into Mastercard, Visa

BP announces $7 billion gas project investment in Indonesia

Trudeau to send checks to millions of Canadians

SEC Chair Gensler to exit, clearing way for Trump pick

Volkswagen workers head towards strikes from December
WORLD

Greece pushes green transition on its fragile islands

Greece this week signed a clean energy deal with the EU in a bid to fast-track the green transition on its fragile islands threatened by overtourism and climate change.
ECONOMY

Over 47 million foreign tourists visit Türkiye in 10 months

Foreign tourist arrivals in Türkiye increased by 7.03 percent year-on-year in January-October to 47.3 million, according to data from the Culture and Tourism Ministry on Nov. 22.

SPORTS

Türkiye heads to Nations League playoffs after Montenegro loss

Türkiye spurned the opportunity to finish atop its group in the UEFA Nations League and qualify for League A directly with a 3-1 loss at Montenegro on Nov. 19 night.