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:

TikTok Small Business Advertising Platform will be Available in Russia
25.07.2020
Business Profits Fell by 67% in Spring
13.08.2020
The Digital Ruble may Come into Circulation in Russia in Three - Seven Years
23.10.2020
AnderSon Russian Cafe Network has Become a Partner of the AliExpress Platform
07.07.2020
Moscow Put up for Auction 68 Properties at Discounted Prices for SMEs
14.09.2020



comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share


TAGS:
Moscow  Political Satire  Google   Mercedes-Benz Fashion Week Russia  Russian scientist  Sokolniki Park  Oleg Yankovsky  St. Petersburg  Vandalism  the Sverdlovsk Region  Russian courts  Orsk  Trash  Perm Territory  Mariinsky Theater  Moscow monuments  Irkutsk Region  Suyginsky Forest Park   Monuments  former USSR,  Visa   Charity  Books  travel to Russia  McDonalds  AvtoVAZ   Russian winter  Valentina Khodasevich  Russian Cinema  Forestry  Russian opera  Biography  Russian regions  Moscow buildings  Toropets  Telephone museum  Russian theatre  Russian natural reserves  Russian medicine  Ivolginsky Datsan  Exhibitions in Moscow  Mathilde Kschessinska  Festivals in Moscow  Tyumen  Space Exploration  Russian tourism  train tickets Russia FIFA  Russian business  food products  Orthodox Church 


Travel Blogs
Top Traveling Sites