Denizbank Signs Agreement to Buy Citibank in Turkey

By  |  April 14, 2013
 | 

Denizbank, the Turkish bank that was acquired by Russia’s Sberbank in 2012, announced an agreement to take over Citibank’s consumer banking in Turkey, reports Hurriyet Daily News. Denzibank seeks to expand operations across the country and with this new agreement will inherit a customer base of over 600,000 and over 1.2 billion Turkish Liras in gross assets.

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    Serra Akcaoglu, Citi Turkey chief executive, wrote in a written statement, “Citi has taken a strategic decision to focus on its corporate and commercial banking business in Turkey. With our commitment to the country, we will continue to grow these businesses,” reports Hurriyet Daily News.

    Read the full story here.


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