Qatar National Bank
(QNB) is reportedly closing in on a deal to acquire Dexia’s
Turkey-based retail banking unit, Denizbank.
QNB chairman Yousef
Hussain Kamal told local media in the Gulf that he hoped to
complete a deal if “the price is right.”
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DenizBank operates a
branch network of 540 outlets in Turkey serving 4.6m
customers.
In the first half of the
current fiscal, DenizBank had market shares of 2.8% for deposits
and 4.3% for loans.
HSBC and Russia-based
Sberbank had been linked with a possible bid for
DenizBank.
QNB
reported a record full year annual net profit of QAR7.5bn ($2.06bn)
for fiscal 2011.
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By GlobalDataQNB currently operates a 334 branch
network and employs around 7,000 staff.
