It took the decision to support the recommendation of the Board of Union Bank Turkey economic activity. According to this; It is recommended to provide flexibility in terms of terms of payment, payment, installment and collateral, as well as to finalize configuration requests in a short time.

Recommendations from TBB

Banks Association of Turkey (TBB) in the statement made by said:

“Banks Association of Turkey which is taking place at a meeting of the Board of Directors dated March 18, 2020 brought the risks and effects of the global epidemic is evaluated.

  • Despite the negative developments in the global economy, the recovery that started in the last quarter of our country is expected to continue. However, the negative effects of the coronavirus outbreak on international economic and social relations are likely to limit recovery.

comprehensive measures by relevant institutions and organizations in Turkey have negative repercussions of the economic development in order to keep limited to the extent possible are taken. In order to support the positive impact of these and to contribute to the sustainability of production, investment, export, trade, employment, and briefly healthy growth, the Board of Directors has made the following recommendations, at the discretion of the members, and shared with the Members:

Recommendation decision: Due to the developments in the field of health and the measures taken to limit the epidemic, our banks have a temporary impact on the income-expenditure balance, and the financial situation, payment power and long term of each of their customers who need additional credit, who have difficulty in paying their debts in due time, but who are unable to fulfill their actions on time. On the basis of mutual goodwill and dedication, by evaluating the debtor-creditor relationship separately and diligently;

  • – Rapid evaluation and fulfillment of loan demands of corporate firms, SMEs and individuals, taking into account resources and credit limits,
  • – Improving credit access facilities and credit conditions,
  • – Keeping credit channels open,
  • – Providing flexibility in maturity, payment, installment payment and collateral conditions,
  • – It was recommended to finalize the configuration requests in a short time.

In addition, it is likely that there will be delays in payments of loans, checks, promissory notes such as real persons who are exposed to coronavirus epidemic and legal persons who cannot perform their activities due to the measures taken to limit the effects of the epidemic. For this reason, it has been stated that it will be beneficial for our members to report to the Risk Center that they determine that they have been adversely affected by the epidemic that they have been affected by the coronavirus outbreak, not their economic activities, in order to make a healthier assessment of these customers.

The banking sector will continue to support economic activity, in cooperation with all other relevant stakeholders and in common sense, by using its power, experience and resources in the most efficient manner in line with the interests of our country. ”

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