Deutsche Bank Set to Offer $1.9 Billion Loan to Turkey’s Ziraat
- Deal is largest bilateral overseas borrowing by a Turkish bank
- Loan marks shift in international banks’ appetite for lending
The TC Ziraat Bankasi AS headquarters in Istanbul.
Photographer: Moe Zoyari/BloombergThis article is for subscribers only.
Turkey’s largest lender by assets secured a 1.75 billion euro ($1.92 billion) loan from Deutsche Bank AG, an early sign of international firms’ willingness to do business in the country amid the government’s push to return to more orthodox economic policies.
State-owned TC Ziraat Bankasi AS will use the loan to finance all industries that support the economic improvement of the country, particularly exporters, according to a statement to the Anadolu Agency, which confirmed a Bloomberg News report earlier on Friday.