Dubai – Mubasher: Emirates NBD has not received regulatory approvals yet for completing the acquisition of DenizBank, Turkey’s fifth-largest bank by assets, for 14.6 billion liras, equivalent to $3.2 billion, the Dubai-based bank’s spokesperson said.
He added that Emirates NBD should obtain the approval of the UAE’s central bank and state-run bodies, according to Al Bayan newspaper.
In May 2018, Emirates NBD agreed to purchase the 98.85% stake of Sberbank of Russia in the Turkish bank to become a major player in Turkey and the region.
It is worth noting that DenizBank has up to 751 branches across the world, including 708 branches in Turkey and 43 in Austria, Germany, Bahrain, Moscow, and Cyprus.
The bank serves nearly 12 million customers, with 14,000 employees and nearly 6,000 ATMs.
