Turkey’s Garanti says reclassifies Oger debt as ‘closely watched’

January 12 2018 17:18:27

Turkey’s Garanti says reclassifies Oger debt as ‘closely watched’

ISTANBUL - Reuters

Turkey’s Garanti Bank reclassified Oger Telecom’s debt as “closely watched” as of the end of 2017, it said on Jan. 11, keeping the troubled loan on its books after Oger has repeatedly failed to make payments.

Turkey’s İşbank also classified Oger Telecom’s loan as “closely watched” at the end last year, sources close to the matter told Reuters on Jan. 11.

Turkey’s Akbank also said it classified its loan to Oger as “closely watched” in a stock exchange filing on Jan. 8.

Oger Telecom is the majority stakeholder in Türk Telekom.

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