Turkish lender Turkiye Garanti Bankası has redeemed a €25 million debt instrument, the bank said on Wednesday.
The redemption removes the outstanding principal from the bank’s balance sheet, lowering its total liabilities by the same amount. The transaction was completed in euros, reflecting the bank’s euro-denominated funding strategy.
Garanti Bankası, one of Turkey’s largest private banks, did not disclose the coupon rate or the original maturity date of the instrument. The redemption follows the bank’s broader efforts to optimize its liability structure amid elevated funding costs and tight domestic monetary conditions.
The move underscores the bank’s liquidity management amid a challenging operating environment marked by high inflation and elevated interest rates in Turkey. The lender has not provided further details on the timing or impact of the redemption on its financial metrics.
