Greek hesitancy to invest in Turkey’s financial sector is set to change, according to senior Greek and Turkish bankers who attended an inaugural joint meeting in Athens in May under the umbrella of the Washington-based Institute of International Finance, the global association of financial institutions.

KoÇ Financial Services, a 50-50 joint venture between Koç Holding of Turkey and UniCredito of Italy, has acquired 57.4% of Yapi ve Kredi Bankasi for €1.160bn. The deal, May 9, comes as foreign banks rush headlong to acquire Turkish banking assets ahead of membership talks between Ankara and the EU in October.

The UK’s Barclays is investing close to £3bn in South Africa to get control of that country’s biggest retail bank, Absa – the biggest foreign purchase ever by the British group. The deal has been approved by regulators and has the support of sufficient shareholders to be successful, after almost a year of behind-the-scenes talks.

The New Partnership for Africa’s Development is a fine blueprint for progress and needs support from everyone, says Baroness Lynda Chalker.

While much has improved since 2001, the government still needs foreign assistance to maintain security amid bombings and riots.

Implementation may be delayed again as the Americans say the changes in minimum required capital are too wide-ranging.

Takeover struggles for two Italian banks have laid bare the Bank of Italy’s powerful tinkering in the banking system as the country’s watchdog and the EU pull their mightier legal rank.

Spain’s cajas – non-profit making savings banks – are thriving and have considerable clout in terms of market share. 

Spain’s retail banks are enjoying the fruits of a property boom that began in the late 1990s and is still feeding the mortgage sector. In addition, they are looking to service smaller businesses.

Banco Popular’s competitors may be gaining ground but the bank is still an attractive acquisition target. Chairman Angel Ron talks to Karina Robinson about strategies for SME and consumer finance business and why he is betting on staying independent.