QIB PLANS STAKE IN TURK­ISH BANK

Asya Katilim Bankasi AS, the Turk­ish bank in talks to sell a stake to Qatar Is­lamic Bank, has hired Gold­man Sachs Group Inc as ex­clu­sive fi­nan­cial ad­viser on the deal.

Qatar Today - - BUSINESS > BANK NOTES -

The Is­tan­bul-based lender con­firmed in March that it was in talks with QIB for a strate­gic part­ner­ship, while the Doha-based bank said it was in­ter­ested to take a stake in the lender.– Merger and ac­qui­si­tion ac­tiv­ity in Turkey's bank­ing in­dus­try is in­creas­ing as in­ter­na­tional ri­vals seek to tap the coun­try's eco­nomic growth. The Bank Asya takeover would be the sec­ond by Qatari in­vestors af­ter Com­mer­cial Bank of Qatar bought Al­ter­nat­if­bank AS last year.

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