Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Sberbank finalizes acquisition of Denizbank
29.09.2012 17:49
Sberbank finalizes acquisition of Denizbank
Sberbank logo

On Friday the largest Russian bank Sberbank has completed acquisition 99.85% share of Turkish Denizbank from  Franco-Belgian bank Dexia S.A. The agreement for acquisition was signed between the parties on June 8, 2012.

      
In a press release, Sberbank said the deal will let the bank to enter the fast growing bank market of Turkey, what is a part of the business strategy of Sberbank.

      
The cost of the acquisition is in Turkish Lira of TRY 6,469 million (at the current exchange rates approximately EUR 2,790 million). By the end of the year Sberbank will pay out an additional sum, an equivalent of the net assets cost growth from January 1, 2012 up to September 28, 2012.

      
DenizBank, Turkey's sixth largest private sector bank, has 588 branches across Turkey, a further branch in Bahrain, a Vienna-based subsidiary Denizbank AG and a Moscow-based unit for clients doing business in Russia. It had total assets of TRY 44.9 billion ($25 billion). The net profit in the first half of 2012 has made up TRY 334 million.

      
Based on Sberbank press-release

Author: Irina Fomina

Tags: Russian banks Sberbank    

Next Previous


You might also find interesting:

Russian Startup MyBuddy.ai was Recognized as the Best at the GESAwards Educational Projects Competition
30.01.2020
New Educational Startup Accelerator will be Launched
23.10.2019
The Amount of Tax Benefits for Moscow Business will Exceed 170 Billion Rubles
27.04.2020
Food Sharing in Russia
31.10.2019
Yandex Ranked Among the Fastest Growing Companies in the World
02.10.2019







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Melihovo  Rock Hills  Culture Monuments  Exhibitions in Moscow  Monuments in Udmurtia  St. Petersburg  Heroism   Tver  London Olympic Games 2012  Boris Yefimov  Russian gas  Kolomenskoye  Stavropol Territory  Transplantation  Moscow  Exhibition Fairs  Art Premium Week  Book Tickets for Ballet  Festivals in Moscow  fashion designer  Russian regions  Moscow airports  Russian Cakes  Festivals in St. Petersburg  Russian Actresses  Russia adventure tours  Joseph Brodsky  Travel event  Far East  Russian journalists  IT  Viennese Ball In Moscow  Observatories   Russian Cinema  Maria Sharapova  Moscow Urban Forum  Innovations  astronomy  BRICS   Boris Grebenshchikov  Russian tourism  Mercedes-Benz Fashion Week Russia  Elbrus  Russian business  travel to Russia  Russia international  Veniamin Smekhov  Golden Ring  Novosibirsk  Russian Nobel laureates 


Travel Blogs
Top Traveling Sites