Sberbank sells Turkey’s Denizbank to Emirates NBD from Dubai for US$ 3.2 billion
Emirates NBD has bought Denizbank from Sberbank for US$ 3.2 billion. According to the statement made, the final agreement was signed. Sberbank had bought Denizbank for $ 3.5 billion in 2012. Emirates NBD which is Dubai’s largest bank was established in 2007 and has a total asset size of about US$ 128 billion.
According to the statement Emirates NBD and Sberbank signed the final Denizbank agreement. Hakan Ates, CEO of Denizbank, had announced earlier last week that he hoped the bank’s sales process would be finalized in May.
In 2012, Sberbank had bought Denizbank from Dexia SA for US$ 3.5 billion. Denizbank is known to be Turkey’s ninth largest bank in terms of asset size. The group had reached an agreement with Emirates NBD for the sales of the bank in recent months.
On the other hand, Emirates NBD was founded in 2007 by the merger of Emirates Bank International (EBI) and National Bank of Dubai (NBD). NBD, Dubai’s largest bank, has a total asset size of $ 128 billion.
The bank, which employs more than 9 thousand people, operates in Dubai, Egypt, Saudi Arabia, India, Singapore and the UK and has representative offices in China and Indonesia. The bank has 230 branches.
