Turkey’s Aksoy Holding reportedly agrees to buy Bahrain-based TAIB’s Turkish unit.

By bne IntelliNews May 23, 2013

Turkey’s Aksoy Holding has agreed to buy Bahrain-based TAIB’s TAIB Investment Bank Turkey, a source familiar with the issue told Reuters on Wednesday. The deal is pending the banking sector watchdog BDDK’s approval, according to the source who declined to comment on the size of the deal.

Assets of TAIB Investment Bank were TRY 15.9mn (EUR 7mn) and TAIB Investment Bank posted TRY 1mn in loss in Q1 this year after it reported a loss of TRY 1.5mn last year. Its loans stood at TRY 500mn in Q1. TAIB Investment Bank has one branch and 14 employees. There are a total of 13 development and investment banks in Turkey’s banking system with 41 branches and around 5,000 staff. Aksoy Holding is active in energy, tourism, real estate & construction sectors. Aksoy holds a 51.6% stake in Turcas Petrol and it also has a stake in Istanbul Conrad Hotel.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Despite local elections defeat Erdogan “remains in control” at head of “super-executive regime”, says analyst

Despite his AKP party’s defeat in the weekend’s local elections, Turkish President ... more

Turkish footwear manufacturers step up investments in Uzbekistan’s leather and footwear industries

Turkish footwear manufacturers are stepping up their investments in Uzbekistan’s leather and footwear industries, according to local reports. A $1mn investment in the manufacture of leather, ... more

Shipping companies latest to feel effects of “West’s very tight blockade against Turkey’s banking system", says report

Shipping companies are the latest to feel the effects of “the West’s very tight blockade against the Turkish banking system”, according to a report by Turkish publication Ekonomim. In ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    5 days ago
  2. Russia’s war economy boosted by rising oil prices
    7 days ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Iran vs Israel: Who is better equipped for war?
    9 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    23 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    28 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    26 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss