First Abu Dhabi Bank Said to Eye Turkish Deals For Overseas Push [BNN Bloomberg (Canada)]
KOC HOLDINGS AS UNSP/ADR (KHOLY)
NASDAQ:AMEX Investor Relations:
koc.com.tr/en-us/investor-relations
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Source: BNN Bloomberg
Emirati lender's hunt for growth opportunities overseas, according to people with knowledge of the matter. FAB, as the UAE's largest lender is known, has held early exploratory talks with the owners of several Turkish banks, the people said. For several months, its been evaluating the possibility of acquiring Yapi Kredi, which is currently valued at 241.6 billion liras ($7.6 billion), according to the people, who asked not to be identified because the information is private. Deliberations are still at a preliminary stage and there's no certainty that FAB will ultimately pursue a deal, the people said. Representatives for FAB, Yapi Kredi and Koc Holding AS, the Turkish lender's majority owner, declined to comment. FAB is the latest UAE lender to express interest in Turkish assets after President Recep Tayyip Erdogan toured the Mideast Gulf region in July to shore up investments in Turkey's $1.1 trillion economy. Dubai Islamic Bank, the UAE's biggest Sharia-compliant lender by ass
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