Belgium’s fortis bank has agreed to buy an 89.3% stake in Turkiye Dis Ticaret Bankasi (Disbank), for €985m. Disbank, Turkey’s seventh largest commercial bank, is part of Dogan Holding, one of the nation’s biggest conglomerates. The acquisition is a further sign of increasing foreign interest in the Turkish banking sector.
Fortis CEO Jean-Paul Votron, who joined Fortis from Citigroup late last year, said the acquisition is part of its strategy to expand activities in the enlarged EU.
