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Bank Audi to Start Turkish Operations by October, Hurriyet Says

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Aug. 24 (Bloomberg)-- Lebanon’s Bank Audi Sal-Audi Saradar Group, which will operate in Turkey under the name Odea Bank, will open its first branch in Istanbul by the end of September or beginning of October, Hurriyet newspaper said, citing Freddie C. Baz, Saradar Group’s Chief Financial Officer and Strategy Director.

Bank Audi, the largest lender in Lebanon by assets, got a license from Turkey’s banking regulator in October 2011 to set up a bank in Turkey, becoming the first bank to get a license in 12 years, the Istanbul-based Hurriyet reported.

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To contact the reporter on this story: Sibel Akbay in Istanbul at sakbay@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

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