6/22/2010

Russia's Sberbank eyes acquisitions in Turkish banking industry

 

Sabah – German Gref, the CEO of Russia’s biggest bank, Sberbank, said their interest in the Turkish banking sector is still running high, even though Sberbank has backtracked from buying a stake in Turkey’s Garanti Bank.

 

Gref said Sberbank is closely monitoring the Turkish finance industry, adding that the Turkish banking sector is still one of the leading strategic markets for Sberbank.

 

“The dynamic commercial and tourism relations between Turkey and Russia are steadily improving. The Turkish banking sector is very strong and Turkish banks have many successful products and services, complete with an impressive technological infrastructure. In this sense, our interest in Turkey remains”, added Gref.

Turkey; banking industry; banking investment; acquisition; Garanti Bank; Sberbank; Turkey-Russia; German Gref

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