Ziraat profit falls 12 percent

Bloomberg

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Ziraat has begun delaying repayment schedules on YTL 2.4 billion of 36-month loans made to help 103,000 small business customers survive the economic slowdown, Chief Executive Can Akın Çağlar told reporters in the southeastern city of Mardin late Saturday.

Ziraat has also reduced the interest rate it pays on lira deposit accounts to prevent other non-state banks being hurt by a shift in deposits to the government-run lender, Çağlar said.