The Istanbul-based lender said in March that it was in exclusive talks with QIB for a strategic partnership, while the Doha-based bank said it was interested to take a stake in the lender. Bank Asya, in today’s filing, didn’t give more details.
Merger and acquisition activity in Turkey’s banking industry is increasing as international rivals seek to tap the country’s economic growth. Industrial & Commercial (1398) Bank of China Ltd. agreed to buy 76 percent of Turkey’s Tekstil Bankasi AS (TEKST) for $316 million in April, while a Bank Asya takeover would be the second by Qatari investors after Commercial Bank of Qatar bought Alternatifbank AS (ALNTF) last year.
Bank Asya fell 2.9 percent to 1.66 liras at 10:35 a.m. in Istanbul. It’s gained about 14 percent this year.
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