Bank Audi reportedly established entity in Turkey.

By bne IntelliNews March 28, 2012
Lebanon-based Bank Audi established a local entity, named Odea Bank, with a capital of TRY 534mn (USD 300mn), daily Milliyet reported. Bank Audi already obtained a banking licence from the banking sector regulator and it is said to open its first branch in September this year. Freddie Baz, CFO of the bank, last month told Reuters that Bank Audi targeted to open 50-60 branches in Turkey in the next few years, and it would focus mainly on corporate and commercial banking in the Turkish market, but it will also be interested in leasing and factoring activities.

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