Finance

First Abu Dhabi Bank’s Talks With Turkish Lender Hit Snag on Valuation

First Abu Dhabi Bank, Koc in preliminary talks for Yapi Kredi
FAB has balked at lender Yapi Kredi’s valuation, people say

A First Abu Dhabi Bank branch and office in Abu Dhabi.
Photographer: Christopher Pike/Bloomberg

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By Kerim Karakaya, Asli Kandemir, and Ercan Ersoy

May 21, 2024 at 11:57 AM UTC

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First Abu Dhabi Bank PJSC has held preliminary talks to buy a controlling stake in Turkey’s Yapi Ve Kredi Bankasi AS, though the discussions have been hamstrung by disagreements over price, people familiar with the matter said.