ISTANBUL (CIHAN) - The Turkish State Minister and Deputy Prime Minister, Abdüllatif Sener has said on Friday that the Turkish Savings and Deposit Insurance Fund (TMSF) is seeking to resolve all outstanding burdens on it due to the 22 banks which it has seized.
The TMSF previously seized 22 banks including Imar Bank, Pamukbank, Etibank, Bank Capital, Bayindirbank, Yasarbank, Demirbank Bank, Sitebank, Toprakbank, Sümerbank, Interbank, Yurtbank, Iktisat Bankasý, Kentbank and Esbank.
A meeting entitled 'Sale of Assets and Asset Management Companies' is taking place on Friday, organized by the TMSF and the World Bank in Istanbul. Minister Sener delivered the opening speech of the meeting during which he said that the TMSF was applying different methods in order to collect money owed by borrowers.
"The first of these methods is an agreement with borrowers on repayments, the second concerns legal proceedings and the third is the Istanbul approach which includes the implementation of law no. 6183 and the sale of credit." Sener said.
Sener added, "22 banks have been seized by the TMSF since 1997 and this situation has placed an huge sale and settlement burden on the TMSF. Therefore, the TMSF has begun organizing the sale of the real assets of these banks.
Yesterday, the TMSF held a public auction for the sale of a total of 53.1 trillion Turkish Liras in property owned by the banks seized by the TMSF. The estimated individual value of 65 properties of the 319 in question - including lands, business offices and houses in 35 cities - is over 100 billion TL.