Dutch Rabobank granted operating license in Turkey

Milliyet - The Banking Regulatory and Supervision Agency (BDDK) granted Rabobank, the largest agricultural lender in the Netherlands, a license to operate in Turkey, according to an announcement in the Official Gazette.

In August, 2013, the BDDK had given the Dutch financial institution the permission to set up a bank in Turkey with an initial investment of USD 300 million, the capital required to start a banking business in the country.

Focusing on food and agricultural industries, Rabobank joins Italian Intesa Sanpaolo, Japan’s Bank of Tokyo-Mitsubishi UFJ (BTMU) and Lebanese Bank Audi who have all received a Turkish banking license in recent years.

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