Sabah - Italian financial services company Intesa Sanpaolo has applied for an operating license in the Turkish banking market, according to sources in the Board of the Banking Regulation and Supervision Agency of Turkey (BDDK). One of Italy’s biggest banks, Intesa Sanpaolo had attempted to enter the lucrative Turkish banking sector before, submitting offers for Garanti Bank and Finansbank stakes when they were on sale several years ago.
The bank has stated its readiness to set up shop under its own name in Turkey, with a share capital of USD 300 million, sources in BDDK reveal. Intesa Sanpaolo has 12 subsidiaries in 11 countries, employing more than 100,000 people.
BDDK granted its first new operating license in more than a decade to Lebanese Bank Audi last year.