Finansbank A S : QNB in preliminary talks to buy Turkey's Finansbank
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10/13/2015 | 02:32am US/Eastern
In a statement to the Qatar Exchange, QNB revealed its involvement as a potential bidder for Finansbank, the National Bank of Greece's Turkish banking subsidiary. The statement said that, "…certain preliminary discussions have been held to date however no material developments necessitating respective disclosures have taken place. QNB will make the necessary disclosures to Qatar Exchange as required, which will represent the only official statements on this matter."
Established in 1987, Finansbank operates 654 branches and has more than 12,000 employees. The bank's total assets in H1 2015 reached TRY 82.45 billion. The bank was acquired by National Bank of Greece in 2006.
QNB has also recently investigated the possibility of taking over KFH Malaysia. However, a bourse statement on 22 September said the bank had stopped preliminary talks to acquire Kuwait Finance House (Malaysia) without reaching an agreement.
