Emirates NBD closes in on Turkey's Denizbank despite Gulf row | ZAWYA MENA Edition

Emirates NBD closes in on Turkey's Denizbank despite Gulf row | ZAWYA MENA Edition:

"Emirates NBD could agree to buy Turkey's Denizbank within weeks, sources said, after intense lobbying by the Turkish bank to convince President Tayyip Erdogan of the benefits of the potential $5.3 billion deal despite a diplomatic rift. Dubai's biggest bank, Emirates NBD  said it was in preliminary talks to buy Denizbank  from Russia's Sberbank SBER.MM in January, but the plan has met resistance from Erdogan, four sources told Reuters. While Erdogan does not have direct control over Turkey's banks, the president could potentially block any deal by telling the country's BDDK banking watchdog not to approve it."



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