Qatar National Bank (QNB) has secured the nod from Qatar’s central bank and Turkey’s Banking Regulation and Supervision Agency to buy Turkish lender Finansbank from National Bank of Greece.
In December 2015, the Qatari lender agreed to purchase a 99.81% stake in Finansbank in a deal worth EUR2.7bn ($3.07bn).
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QNB will buy the shares from National Bank of Greece, which currently owns the Turkish lender.
The share transfer to QNB will occur following receipt of remaining regulatory approvals, QNB said in a statement.
Finansbank operates with 647 branches and has a customer base of over 5.3 million. The bank managed $29bn in assets, $19.5bn in loans and $14.6bn in deposits as of 30 June 2015.
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