Dubai bank ENBD eyes Turkey buy amid foreign expansion | Reuters:
"Emirates NBD ENBD.DU is looking for acquisition targets in Turkey as Dubai's largest lender scouts for opportunities beyond its home market, despite an improving economic environment within the emirate, its top executive said.
ENBD, which completed in June the purchase of BNP Paribas' (BNPP.PA) Egyptian assets for $500 million, has been looking to diversify beyond Dubai after a real estate market crash in 2008-2010 severely impacted the bank.
The lender aims for 20 percent of its revenues to come from overseas markets in five years - up from 8 percent after the Egyptian acquisition - and while organic growth will play a part, another acquisition will probably be needed to meet the target."
'via Blog this'
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