Saturday, 04 December 2021 01:38 GMT

Turkish stake acquisition to expand Emirates NBD's operations


(MENAFN) Baking operations of Dubai's Emirates NBD are affirmed to enjoy a growth through its purchase of stakes in Turkey's Denizbank.

Speaking to Anadolu Agency, the lender's spokesperson said that "Turkey has strong trade and people linkages with multiple countries where Emirates NBD is present, like the UAE, Egypt, and Saudi Arabia."

The spokesperson added that "by linking Denizbank's Turkish and Austrian operations to our existing network, we would be able to capture a greater share of banking business between these countries and serve our customer base better."

He explained that it is anticipated for key cooperation fields to include trade finance, cash management, wealth management, and corporate and investment banking.

He added "Denizbank has a strong talent pool comprising of seasoned and experienced banking professionals and IT personnel in Turkey, providing Emirates NBD the opportunity to leverage human resources synergies post acquisition."

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