lower the level of nonperforming loans. NPLs ratio fell to 15.9 percent in May 2017, from 18.2 percent in December 2016,” experts said. They added that the reduction in bad loans is expected to enhance the lending capacity of second-tier banks. “Cleaned from the write-off effects, the annual growth of the total loan portfolio in April remained modest, at 3 percent. However, the BoA expects lending activity to improve gradually in the quarters ahead, reflecting the expected expansion of demand and improvement of supply,” experts said.
Turkish authorities have seized or appointed an administrator to 965 companies with total annual sales of some 21.9 billion lira (5.3 billion euros) in the year since an attempted coup in July 2016, Deputy Prime Minister Nurettin Canikli said yesterday. Under the emergency rule imposed after the coup, Turkish authorities took control of companies suspected of having links to followers of Fethullah Gulen, the US-based Muslim cleric blamed by Ankara for the failed military takeover. The 965 companies under state management control, based in 43 provinces across Turkey, have assets totaling some 41 billion lira and employ 46,357 people, Canikli said in a written statement. Turkey took control of a bank, industrial companies and media firms as part of the crackdown on companies accused of links to Gulen. He has denied involvement in the putsch. Apart from the business crackdown, Turkey has jailed more than 50,000 people pending trial and suspended or dismissed some 150,000, including soldiers, police officers, teachers and civil servants, over alleged links with terrorist groups.