Fortis buy Turkish bank for almost 1 billion euro
Spent: 12 April 2005 07.58 last modified: 12
April 2005 11.15 a Turkish bank wants take over for in sum 985
millions euro. It concerns, according to Fortis on six after
largest private bank of the country. This the financial concern
has announced Tuesday. governing board President Jean-Paul said
to Votron van Fortis that the adoption is appropriate in the strategy
of its concern to grow outside the benelux. He calls Turkey a '
large and snelgroeiende market '. Turks still redeem at present
a little financial products. Next year must make already a
positive contribution to the adoption to the profit by share of
Fortis. Disbank had last year a nettowinst of 61 millions euro.
The financial company counts than one million customers more,
under whom 120,000 small independent ventures and approximately 10,000
medium ventures. The Turkish bank has 173 establishments.
At the venture 4500 people work. Initially the bank aimed
especially at the market business, but the previous years has he
according to Fortis also strong increase can bring about on the
private market. With the most important shareholders of Disbank,
who 89.3 have percent of the venture, an agreement has been already
reached concerning the adoption. That became possibly because an
important shareholder, is the family Dogan, pieces wants sell.
On the remaining shares Fortis will bring out a public offer.
These pieces have a quotation to the grant in Istanbul.
The offer of Fortis does not come long after its interest had
shown in Turkey. The cooperative bank communicated in December
that she wants take a majority importance in the Turkish Sekerbank.
Fortis have already an office in Istanbul, mainly for
zakenbankieren. Last year also yet for the bank opened a branch
in Turkey. The new top man Votron van Fortis said after its
coming forward aantreden, last autumn, which the bank insurer must
deserve more money outside the Netherlands and Belgium. Votron
want that Fortis over some years obtain eenderde of the profit outside
the benelux. The adoption in Turkey will stipulate approximately
5 per cent of the profit from ordinary company exercise.
Purchase must be wound up by the end of June. (c) DUTCH
PRESS AGENCY
Source "Fortis Turkish bank buys for almost 1 billion euro": nu.nl
Head index page of "Fortis Turkish bank buys for almost 1
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