Doha – Mubasher: Qatar National Bank (QNB) expected the acquisition of full stake of National Bank of Greece (NBG) in Turkey’s Finansbank A.Ş to be completed in the first half of fiscal 2016.
The Qatar-listed Bank said it doesn’t expect any negative impact on its financial position from the acquisition, according to a bourse statement.
Earlier in April, QNB obtained required approval from Qatar Central Bank (QCB) and Turkey’s Banking Regulation and Supervision Agency (BRSA) to acquire Finansbank A.Ş.
Established in 1987, Finansbank A.Ş is the fifth-largest private bank in Turkey in terms of total assets, deposits and loans.
QNB stock closed Wednesday at QAR 139.19 after falling 0.50%.
