Turkish banking sector keeps attracting newcomers
Turkish banking sector which has proved to be quite strong during the global crisis keeps attracting new investors.
Most recently, The Bank of Tokyo-Mitsubishi UFJ, Japan’s largest lender, has obtained regulatory approval to open branch in Turkey with a capital of US$ 300 million.
Another interested party is The Commercial Bank of Qatar which has been approaching Alternatifbank for a profitable acquisition.
Likewise, more lenders from the Gulf zone are known to have interests in the same sector.
Among prospective new players in the Turkish banking market is the Commercial Bank of Qatar who is known to have started talks with Local Anadolu Endüstri Holding to buy controlling shares in Alternatifbank.
In the meantime, Odeabank (affiliate of Bank Audi, Lebanon) has opened its first branch in Istanbul. It is reported that Bank Audi is the first new bank to receive BDDK authorization after nearly 14 years as the regulator has been acting cautiously since the crisis in 2002, which had put many lenders in a difficult situation at the time.
25.12.2012
BTT
