Turkey’s banking sector has come a long way since the dark days of 15 years ago when poor regulation led to a wave of collapses. Now fully Basel-compliant and strictly regulated, the sector is a picture of health and still attracting new entrants and new international investors.
Since arriving in Turkey just four years ago, Lebanon’s Bank Audi has expanded its Odeabank subsidiary to the point where it is Turkey's ninth largest private bank by assets. Earlier this year, Qatar National Bank completed its $3.08bn purchase of Turkey's fifth largest private bank, Finansbank, joining Citigroup, BBVA, BNP Paribas and UniCredit to become the latest overseas institution to take a major stake in Turkey’s banking sector.
