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 European Commission has decided to grant an extension of the deadline for the divestment of Fortis' corporate banking business, consisting of Hollandsche Bank Unie N.V. (HBU), two corporate client departments, 13 "Advieskantoren" and ABN AMRO's Dutch factoring activities to Deutsche Bank.
more »
MEPs will vote on an emergency plan to help the crisis-stricken sector dairy sector on Thursday after the Agriculture Committee approved the Commission's proposal on Monday evening in Strasbourg.
more »
The EBRD is boosting competition in the Montenegrin retail sector with a loan to expand the supermarket network of one of the leading retailers in the country.
more »
Redmond, Wash. — Oct. 16, 2009— On Oct. 19, Microsoft CEO Steve Ballmer heads to the sold-out Microsoft sharepoint Conference in Las Vegas where he will address more than 7,000 sharepoint customers, partners and developers.
more »
Proposals tabled for collaboration on sea surveillance, bigger EU role in global maritime affairs and sustainable fishing.
more »
$50 million financing package for agricultural commodities operator.
more »
Seeking to increase sheet-metal production volumes, Stansefabrikken decided to move all company’s production from Lillesand (Norway) to Stansefabrikken’s successfully operating factories in Lithuania.
more »
The European Economic and Social Committee (EESC) and the European Commission Representation in Finland jointly organise a conference in Helsinki on 22 and 23 October on "The Baltic Sea Region: the best place to work and do business".
more »
Why did economy rise drastically turn into painful decline and what price will every of us have to pay for that?
more »
The economies of central and eastern Europe are expected to contract by an average of 6.3 per cent in 2009 following steep output declines in the first half of the year.
more »