RIA NOVOSTI. One of the leading Turkish banks, Isbank, is close to completing the acquisition of a Russian bank, Isbank’s CEO Ersin Özince, said on Thursday, RIA Novosti reported.
“We are at the final stage of buying a bank in Russia," NTV television quoted Özince as saying. He did not specify which particular Russian bank is at issue, but only noted Isbank intends to open its branches in all constituent entities of the Russian Federation.
Reports that this Turkish bank holds negotiations over the purchase of a Russian bank appeared back in April, but the name of the Russian bank was not disclosed either. “The Russian market is larger compared to other countries and more mature," the Turkish bank’s chief executive said.
Isbank became the first national bank of the Republic of Turkey and the bank’s history dates back from 1924. At present the bank runs over 1,000 offices in the country and 14 representative offices abroad, including in Germany, France, the Netherlands, Sweden and China.
