Heavy interest in seized Turkish banks

Turkey's banking watchdog on Friday said there is significant foreign and domestic interest in purchasing some of 10 banks with bad debts of $7bn that it has taken into receivership.

"There are many applications regarding the sale of the banks, and foreign interest is particularly high," banking supervisory board head Zekeriya Temizel told a banking conference in Istanbul. He said applicants would be allowed to inspect the books of the banks, for which Turkey hopes to complete a tender process