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
The Kakheti Regional Roads Improvement Project for Georgia aims to reduce transport costs and improve access and traffic safety for the Kakheti regional roads.
more »
“Don Quixote – Made in Romania” brought the curtain down on the Cultural Days of the European Central Bank (ECB) 2009, with an expressive combination of tap dance, folklore, pantomime and martial arts.
more »
The Latvian Finance and Capital Market Commission permitted Mr. Vladimir Antonov, who is also the main shareholder of AB Bank SNORAS, to acquire and manage up to 33 per cent of the shareholding of the Latvian bank AS “Latvijas Krajbanka”.
more »
On October 30, the French-capital company “Eurovia Lietuva” opened a new asphalt plant near the capital city Vilnius. The company invested EUR 3.5 million into the new factory which is located near the old manufacturing facility to be closed soon.
more »
During the extraordinary general shareholders' meeting of AB Bank SNORAS, which took place on 5th November 2009, it was decided by additional contributions to increase the authorized capital of the bank by more than LTL 88 million.
more »
The French-capital company “Eurovia Lietuva” opened a new asphalt plant near the capital city Vilnius.
more »
“Banking Market in the Baltics 2009-2011, CEE Banking Brief” report recently presented by Intelace Research states that, despite the current economic recession, Estonia, Latvia and Lithuania are still among the most advanced banking markets in Central and Eastern Europe (CEE).
more »
The Bank of Lithuania permitted AB Bank SNORAS to include in the second level capital LTL 72.5 million (EUR 21 million) worth emission of termless debt securities distributed via non-public distribution on 31st August this year.
more »
The remit of the Parliamentary Committee set up to examine the financial crisis was debated at its first meeting on Wednesday (4 November).
more »
Europeans can now use direct debit from their home account to pay bills anywhere in the EU.
more »