Giant bank from Gulf region interested in acquiring Yapı Kredi: Statement from Koç Holding

The largest bank in the UAE, First Abu Dhabi Bank, is showing interest in Yapı Kredi as a potential opportunity in Turkey. The bank is also evaluating other potential acquisition targets. Following the news, Koç Holding stated, “There is no development requiring disclosure to the public within the scope of the Communiqué regarding the matter reflected in the media.”

According to a news report on Bloomberg, citing sources familiar with the matter, First Abu Dhabi Bank (FAB) is evaluating potential acquisition targets in Turkey, including Yapı Kredi Bankası, as part of its search for growth opportunities abroad.

Sources said that FAB, known as the largest bank in the United Arab Emirates (UAE), has held preliminary discussions with several bank owners in Turkey.

According to sources who preferred not to be named, FAB has been considering the possibility of acquiring Yapı Kredi, which is currently valued at 241.6 billion lira ($7.6 billion), for several months.

Meanwhile, trading of Yapı Kredi shares on the Borsa Istanbul has been halted due to circuit breaker application.

Statement from Koç Holding regarding Yapı Kredi Bankası

Following reports of First Abu Dhabi Bank’s interest in Yapı Kredi Bankası, Koç Holding made a statement to the Public Disclosure Platform (KAP). The statement reads as follows:

“In the press and media, news has emerged that a bank operating in the Middle East is conducting activities aimed at acquiring a bank operating in Turkey, including our subsidiary Yapı ve Kredi Bankası A.Ş. (YKB), and that negotiations are being held for potential share acquisitions in YKB within this scope.

As a holding company, discussions and negotiations regarding our portfolio that may come to the agenda are always possible, and if concrete decisions are made as a result of these evaluations, necessary disclosures are made in accordance with the Capital Markets Board’s II-15.1 Special Situations Communiqué.

In this context, there is no development requiring disclosure to the public within the scope of the Communiqué regarding the matter reflected in the media, and this statement has been made upon inquiries from our investors.”