Dubai – Mubasher: The UAE’s leading bank Emirates NBD has received the approval of Turkey's Banking Regulation and Supervision Agency (BDDK) for the acquisition of Denizbank from Russia’s Sberbank, according to Reuters.
Last month, the Emirati bank signed an agreement to purchase the 99.85% stake of Sberbank of Russia in the Turkish bank Denizbank in consideration of AED 11.7 billion.
Emirates NBD achieved a year-on-year increase of 15% in net profit to AED 2.7 billion during the first quarter of 2018, up 15% when compared to the fourth quarter of 2018.
