Banking & Finance
Emirates NBD Gets Key Approval for Turkey Denizbank Deal
(Bloomberg) — Emirates NBD received a key regulatory approval taking Dubai’s biggest lender a step closer to completing its purchase of Turkey’s Denizbank, two people with knowledge of the matter said.
Emirates NBD got approval from the United Arab Emirates central bank, but still needs Turkey’s banking regulator to approve before the acquisition from Russia’s Sberbank PJSC can be completed, said the people, asking not to be identified because the information isn’t public.
Denizbank declined to comment. Sberbank’s press office didn’t respond to requests for comment. The U.A.E.’s central bank didn’t immediately respond to an email and calls seeking comment.
Emirates NBD signed a new deal in April to buy Sberbank’s wholly-owned Turkish unit that could save the Dubai-based lender as much as $700 million. The revised price tag of 15.48 billion lira ($2.7 billion) reflected a slump in the lira last year amid slowing economic growth in the country.
The deal is both Turkey’s largest M&A deal since 2012 and the Dubai bank’s biggest acquisition. The deal had been expected to close in the first half.
— With assistance from Asli Kandemir and Zainab Fattah.
-
Insurance2 months agoSupporting Community Wellness: Liva Insurance Sponsors Muscat Marathon 2026 with Free Health Checkups
-
Dossier2 weeks agoDossier, 2026
-
Interviews2 months agoEXCLUSIVE INTERVIEW: TLS Rebranding Marks Strategic Leap Toward Innovation, Sustainability & Growth
-
Insurance1 month agoLiva Insurance Supports Community Wellness Through “Experience Oman – Muscat Marathon 2026”
-
Banking & Finance2 weeks agoNational Finance Unveils Exclusive Ramadan Offers on Auto Financing
-
Investment4 weeks agoLalan Inaugurates Its First Overseas Manufacturing Facility, Marking Sri Lanka’s First Investment in SOHAR Freezone
-
OER Magazines1 month agoOER, January 26
-
Food & Dining4 weeks agoGrand Millennium Muscat’s exclusive Ramadan Iftar and Suhoor Experiences

You must be logged in to post a comment Login