23 December 2015 News

Qatar National Bank Acquires share of "Finance Bank" in Turkey

Qatar National Bank Group (QNB) announced on Tuesday reaching a final agreement to acquire the entire share of the National Bank of Greece in "Finance Bank" Turkey, amount of 99.81%, in a deal worth 2.7 billion euros (2.94 billion US dollars).

According to a statement issued by Qatar National Bank plans to set the gradual expansion in the Turkish market, "because of the promising opportunities for the growth in the coming years, and its location between two continents of Europe and Asia."

Finance Bank, established in 1987, is the fifth-largest bank owned by the private sector in Turkey, in terms of total assets and customer deposits and loans, and provides banking services through 647 branches with a customer base of more than 5.3 million customers.

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