Kuwait's NBK interested in Turkey's Garanti, Kuwait Banks, Banking & Investment - Maktoob Business
Kuwait's largest lender, the National Bank of Kuwait (NBK) said on Tuesday it was considering buying a stake in Garanti Bank as Turkey was one of the emerging world's most attractive banking sectors.
"NBK wants to expand in Turkey, a country that has a lot of potential," said NBK's chief executive, Ibrahim Dabdoub, in an e-mailed statement. "We need to have a stronger presence there," said Dabdoub. "One of the options is a share in Garanti Bank."
General Electric said in February it would sell its 20.85 percent stake in the Turkish lender, currently valued at $4.3 billion.
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