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Spain's BBVA looking for buy another Turkish bank

ISTANBUL, April 11, 2016

Spain's second-biggest bank BBVA, which has a majority stake in Turkey's Garanti, is looking to buy another bank in the country, Hurriyet newspaper reported on Monday, citing BBVA's chief executive Carlos Torres Vila.

BBVA is not actively in talks as there are no banks for sale, but Turkey is a strategic market where it wants to grow, Hurriyet quoted Torres Vila as saying.

The Spanish lender said last year it was considering bidding for HSBC's Turkish business. HSBC announced a couple of months after receiving bids that it had decided to retain it.

BBVA was also reported to be interested in the sale of Greece's biggest bank, National Bank of Greece's Turkish subsidiary Finansbank.

However, Qatar National Bank bid 2.7 billion euros ($3.1 billion) for Finansbank in December and said on Sunday that it has received regulatory approvals for the purchase.-Reuters




Tags: Spain | Turkish bank |

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