Japans BTMU gets licence from BDDK to establish bank in Turkey.

By bne IntelliNews December 24, 2012
Japans the Bank of Tokyo-Mitsubishi UFJ (BTMU) obtained a licence from the local banking regulator BDDK to establish a bank in Turkey. The capital of the bank to be founded by BTMU will be at least USD 300mn. BTMUs Turkish unit is said to target to have two or three branches and a loan volume of USD 5bn in the first five years of operations. BTMUs Turkish unit will be the 50th bank in the Turkish financial system. Lebanon-based Bank Audis Odea Bank was the first bank to get banking licence earlier this year after 12 years.

Japans BTMU gets licence from BDDK to establish bank in Turkey.

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