Speaking in Zagreb last Thursday, OTP Bank Rt President-CEO Sándor Csányi confirmed rumors that Hungary’s leading commercial bank is considering the acquisition of an as yet unspecified bank in Turkey
Published:
17 March 2005 y., Thursday
Speaking in Zagreb last Thursday, OTP Bank Rt President-CEO Sándor Csányi confirmed rumors that Hungary’s leading commercial bank is considering the acquisition of an as yet unspecified bank in Turkey.
“Turkey has 72 million inhabitants, and its economy is growing faster than Hungary’s,” noted Csányi.
The idea of OTP buying a bank in Turkey could not have come at a more opportune time, observers note, as private banks in the ownership of Turkish family holdings must soon be sold, and the scramble of potential buyers has already begun.
“Right up until very recently, OTP had no acquisition plans in Turkey,” an expert with close knowledge of the Hungarian bank who wished to remain anonymous told the BBJ. “However, having recovered from its crisis of 2001, the Turkish banking sector has produced outstanding results, stirring the attention of the Hungarian bank’s management.”
An even more important factor, the expert added, is that under the draft of Turkey’s new law on financial institutions set to be drawn up by April as part of preparations for the country’s mooted future membership of the EU, the Turkish family holdings that own interests in numerous sectors of the Turkish economy will be obliged to part with their banking interests.
Šaltinis:
bbj.hu
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
New legislation for pan-European supervision of credit rating agencies and a public debate on how financial institutions are managed.
more »
On 2 June in Vilnius, Lithuania‘s Vice-Minister of Foreign Affairs Asta Skaisgirytė Liauškienė and Deputy Director General of the World Trade Organization Rufus H. Yerxa discussed the main issues on the international trade policy agenda, Russia‘s WTO accession and the changing role of China in the world economy.
more »
2157 former construction workers in Spain and 598 ex-employees at the Irish crystal glass company Waterford Crystal with suppliers could get €11 million in EU globalisation adjustment fund aid for training, self-employment and professional orientation under plans approved by the Budgets Committee on Wednesday.
more »
Companies from the UK, Belgium, Germany and Spain have won the 2010 European Business Awards for the Environment.
more »
The planned overhaul of EU fisheries policy should devolve more powers to regions, protect small coastal fleets and boost aquaculture, said MEPs and members of national parliaments on Tuesday.
more »
The first in a series of loan agreements for energy efficiency investments in multi-apartment buildings was signed today between the European Investment Bank (EIB), as manager of the JESSICA holding fund in Lithuania, and Šiaulių bankas.
more »
Despite the current economic crisis and tensions in the euro, Estonia is set to adopt the single currency in January.
more »
Commission proposes a bank tax to cover the costs of winding down banks that go bust.
more »
The European Investment Bank will provide a total of EUR 400 million to Hellenic Petroleum SA in order to increase the production of cleaner fuels via the upgrading of the Elefsina refinery.
more »
European ministers meet on Tuesday and Wednesday in Brussels at the final Competitiveness Council to be held during the six months of the Spanish Presidency, which has an agenda laden with important issues such as the electric vehicle, the European patent system and national R+D investment goals.
more »