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- Alba hits 38 million safe working hours without LTI
- Rolls-Royce shares surge as engine maker lifts outlook
- Gulf Bank concludes the third edition of its 'Fekrety' innovation competition
- AD Ports in deal to develop Egypt crude oil storage network
- Abu Dhabi hotels' revenue tops $185m in May
- NMDC Group revenues hit $3.65bn in H1
- Barq marks 1st year with 7 mln users & SR73 bln in transactions, powering Saudi Arabia's digital shift
- Saudi Arabia Launches New Industrial Projects in Eastern Province
- Amazon profits surge 35% as AI investments drive growth
- Saudi Aramco reduces August propane, butane benchmarks
30/01/2018 13:25 AST
Emirates NBD is in talks to acquire a majority stake in Turkish bank Denizbank from Russia's Skerbank, the Dubai-based lender said.
"Discussions are at a very preliminary stage and there is no certainty that any transaction will be entered into," Emirates NBD, Dubai's biggest bank by assets, said in a statement on Tuesday.
"Emirates NBD routinely evaluates potential opportunities in different markets. A further announcement will only be made if there is a material development."
Banks from the GCC and China have expressed interest in the lender, sources told Reuters on Monday. Shares in the Turkish bank soared 14 per cent to a four-month high on Monday on the news.
Emirates NBD's vice chairman and managing director Hesham Al Qassim said earlier this month the bank planned to open a representative office in Turkey this year "to better support our customer network".
The bank plans to expand its network in Egypt and Saudi Arabia as part of its international growth plans for the year.
Denizbank is Turkey's 15th largest bank by assets, according to data compiled by Bloomberg.
Skerbank acquired a 99.9 per cent stake in Denizbank, the Turkish unit of Franco-Belgian bank Dexia, for $3.5 billion in 2012, after the latter's demise following the 2011 European sovereign debt crisis.
The National
17/07/2025
Emirates NBD has concluded AED3.9 billion ($1.06 billion) Syndicated Bonding Facilities to a consortium created by MAPA, LIMAK and CRRC that will deliver the new Dubai Metro 'Blue Line' Project.
Trade Arabia
20/05/2025
The Reserve Bank of India (RBI) has given an in-principle approval to UAE's Emirates NBD Bank PJSC to set up a wholly owned subsidiary (WOS) in India.
Emirates NBD is currently conducting co
Gulfnews
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
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01/08/2025
Aluminium Bahrain B.S.C. (Alba), the world's largest aluminium smelter on one site, proudly celebrates achieving 38 million safe working hours without a Lost Time Injury (LTI) on July 31.
Th
BNA
01/08/2025
In line with its commitment to fostering innovation and creativity, Gulf Bank has successfully concluded the third edition of its internal innovation competition, "Fekrety"2025. The initiative aims t
Kuwait Times
01/08/2025
AD Ports Group, a leading global enabler of trade, logistics, and industry, has signed an agreement with Egypt's Ministry of Petroleum & Mineral Resources; and TCM Project Management, a Dubai-based c
Trade Arabia
01/08/2025
NMDC Group, a global leader in engineering, procurement, construction, and marine dredging, reported a revenue of AED13.4 billion ($3.65 billion) for the first six months of 2025, representing a 10 p
Trade Arabia
01/08/2025
Saudi Aramco has reduced its official selling prices for liquefied petroleum gas for August 2025.
The state energy giant on Thursday set propane at $520 per tonne and butane at $490 per tonn
Arab News
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