Qatar National Bank, which is buying Societe Generale's Egypt arm for $2 billion, is looking at taking a majority stake in one of Turkey's top ten lenders, its chief financial officer said on Thursday.
QNB, which bid to buy Turkish lender Denizbank but lost out to Russia's Sberbank earlier this year, prefers to pursue an acquisitive path in Turkey as part of its regional expansion, Chief Financial Officer Ramzi Mari said on a conference call.
"I don't see us applying for a licence in Turkey. We are looking at a majority stake in a top ten Turkish bank as a means to add value," Mari said. He did not give further details.
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