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:

The Number of Offers on the Sale of Businesses Increased in Russia by 33%
23.04.2019
Kaliningrad Region is the First in Terms of Involvement of the Population in Small Business
11.04.2019
The Ministry of Economic Development is Changing Corporate Law
05.10.2018
Russian Barista Robot Attracted More Investments
18.07.2019
Bank of Russia Reduced the Share of Dollar Turnover in International Reserves
27.01.2019







Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

search on the map
TAGS:
Gelendzhik  Alisher Usmanov  child adoption in Russia  Russian Film Directors  Russian tourism  Chizh  Sergei Kapitsa  Space Exploration  Australia  the Crimea  Music Festivals  Beloretsk  FC Anzhi Makhachkala  Street Art  Monuments in Yekaterinburg  Russian Comics  Exhibitions in Moscow  travel to Russia  Tver region  Russian Theater  Russian Avant-Garde  Fans  Russian business  Fine Art  Park of National Unity and Reconciliation  Nicholas II  Russian Cinema  Russian lifehacks  Igor Starygin  Antarctica  St. Petersburg  ecology  Bashneft  Moscow  Mercedes-Benz Fashion Week Russia  gay propaganda law  FIFA World Cup   Festivals in Moscow  The Romanov Family  Retail  natural disaster  cultural cooperation  traffic jam  Resources  Festivals  Russian regions  Kirov  Moscow monuments  St. Petersburg Museums  Cyprus crisis 


Travel Blogs
Top Traveling Sites