Commercial Bank of Qatar is continuing talks to acquire 75 percent of Alternatifbank AS (ALNTF) and plans to complete discussions in March, the company said.
Alternatifbank, Turkey’s 17th-largest lender with 7.9 billion liras ($4.5 billion) in assets as of Sept. 30 according to the Banks’ Association of Turkey, jumped as much as 4.6 percent and rose 2.1 percent to 2.44 liras at 3:41 p.m. in Istanbul.
Investors from the Middle East, Russia and Asia are boosting their holdings in Turkey, attracted by rising profit and growth in loans. Qatar National Bank said last month it may target stakes in the country’s major lenders. Bank of Tokyo- Mitsibushi UFJ Ltd. is in the final stages of a license application, Mukim Oztekin, head of the industry regulator, said in December. Russia’s OAO Sberbank bought Turkish bank Denizbank AS (DENIZ) from Belgium’s Dexia SA in June for $3.53 billion.
Qatar Bank to Complete Talks Over Alternatifbank in March - Bloomberg
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