Royal Bank of Scotland has put its portfolio of Turkish shipping loans up for sale, Reuters is reporting. The bank is trying to divest itself of its entire shipping portfolio as part of restructuring plans. The Turkish loans total up to $500m.
Its $3bn Greek shipping loan portfolio has attracted the interests of Credit Suisse and China Merchants this year, though no firm bids have been made to date.
RBS suffered a net impairment charge of £263m primarily related to its shipping portfolio in the first six months of 2016.
RBS declined to comment on the Turkish sale.