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.
-
Dossier1 month agoDossier, 2026
-
Banking & Finance1 month agoSohar International and Sohar Islamic Supports Over 100 Families in Al Wusta Governorate Through Its ‘Sohar Al Attaa’ Initiative
-
Banking & Finance1 month agoNational Finance Unveils Exclusive Ramadan Offers on Auto Financing
-
OER Magazines4 weeks agoOER, February 26
-
Economy1 month agoAnalysis: Oman-India CEPA Opens Path to Deeper Trade Investment and Growth
-
Economy1 month agoNew Regulations Issued for Buy Now, Pay Later Services in Oman
-
Economy1 month agoANALYSIS: Oil Near Seven-Month Highs Amid US, Iran Tensions
-
Economy4 weeks agoMiddle East Tensions Heighten Risks to Strait of Hormuz, Raising Uncertainty for Global Oil Markets

You must be logged in to post a comment Login