Latest articles from Turkey

MAIN STORY: Hapoalim joins rush into Turkey with stake in C Bank

October 3, 2005

Israel’s biggest financial institution, Bank Hapoalim, announced on September 13 that it had signed a memorandum of understanding to acquire a 50% share in Turkey’s C Kredi ve Kalkinma Bankasi (C Bank) for $113m, with the aim of breaking into the lucrative Turkish mortgage and project finance markets.

Rabobank seals $90m deal for Sekerbank stake

August 1, 2005

Holland’s Rabobank has acquired a 36.5% stake in Sekerbank for $90m, as European banks continue to snap up shares in Turkish banks ahead of the country’s membership talks with the EU in October.

Greek banks turn attention to Turkish market

June 6, 2005

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.

Stampede for Turkey as EU membership beckons

June 6, 2005

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.

A work in progress

May 2, 2005

Turkey’s economy is surging ahead of tough membership negotiations with the EU, but debt problems persist. The Erdogan government has much work to do, reports Metin Demirsar from Istanbul.

Banking sector appeal spreads

May 2, 2005

EU convergence and a strong economy are attracting foreign banks, reports Michael Kuser in Istanbul.

On the FDI trail

May 2, 2005

Turkey is seeking to draw more foreign investment with EU membership talks on the horizon and improved economic fundamentals.

Back to basics

May 2, 2005

Turkey’s banking system recorded strong growth in 2004 but systematic weaknesses continue. The country’s 48 banks are having to learn to cope with a low inflation environment.

The great sell-off

May 2, 2005

Turkey is pushing ahead with privatisation of its overstaffed, money-losing state enterprises in the run up to EU membership.

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