.
Print Article
Email A Friend
Your Opinion
News Alerts

Belgian bank buys into Turkish market

31st May 2006
By Nick Kingsley

Dexia, the Franco-Belgian banking group, is to follow in the footsteps of GE Finance and BNP Paribas among others by buying into Turkey. Dexia will pay $2.4 billion for a 75% share of Denizbank.

The Paris and Brussels-based bank is keen to gain a foothold in what is seen as one of Europe's key growth markets. Turkey's economy is expanding at more than 5% per annum at present and the country is for the first time facing a realistic possibility of EU accession, although this is unlikely to be realized for a number of years.

"Turkey is a country we have been considering for expansion for several years," said Axel Miller, Dexia's chief executive. Further details of the acquisition were not disclosed.

Print Article Email A Fiend Your Opinion News Alerts
RELATED NEWS
YOUR OPINION...
  • Comment on this Article
NEWSLETTERS
Sign up to our weekly newsletters for the latest industry news & comment.
 I would like to receive Business Digest
 I would like to receive Distribution News
 I would like to receive Financial Services Digest
 I would like to receive Retail Banking News
 I would like to receive Savings & Investments News

Email Address


FURTHER INFORMATION
  • Unsubscribe details are contained within each Email
  • To subscribe simply enter your Email address in the box above and click the subscribe button
  • Read our privacy policy if you have concerns about our use of data