Deals
Finansbank Seen as Target for QNB Seeking Top Turkey Bank
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Finansbank AS, owned by National Bank of Greece SA, will probably be a target for Qatar National Bank SAQ as the Middle East’s biggest lender studies buying one of Turkey’s top 10 banks, analysts said. The share surged.
“QNB wants a controlling stake in Turkey and there’s no other bank than Finansbank at the moment where it could get that,” Ovunc Gursoy, analyst at Yapi Kredi Yatirim Menkul Degerler, a broker owned by Italy’s UniCredit SpA, said by telephone from Istanbul yesterday. “NBG could sell a majority stake due to its capital needs.”