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QNB looking to acquisitions in Turkey after SocGen deal
- Qatar: Saturday, December 15 - 2012 at 01:06
Ramzi Mari, the chief financial officer of Qatar National Bank (QNB) has said the lender, which acquired Societe Generale's Egypt arm for $2bn, is looking at taking a majority stake in one of Turkey's top ten lenders, Reuters has reported. QNB, which bid to buy Turkish lender Denizbank but lost out to Russia's Sberbank earlier this year, prefers to pursue an acquisitive path in Turkey as part of its regional expansion, Mari said. "I don't see us applying for a licence in Turkey. We are looking at a majority stake in a top ten Turkish bank as a means to add value," Mari said, without giving further details.
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