Banking watchdog approves sale of Turkiye Finans' shares to NCB

The New Anatolian - Banking Regulation and Supervision Board (BDDK) approved the sale of shares of Turkiye Finans to National Commercial Bank (NCB) based in Saudi Arabia. A press release issued from Turkiye Finans recalled that Boydak and Ulker groups had reached an agreement in July 2007 for the sale of 60 percent shares of the bank to NCB for 1.08 billion USD.