DenizBank Archives

DenizBank

Dubai’s biggest bank completes deal to buy Turkey’s DenizBank

by Sam BridgeWed 31 Jul 2019Wed 6 Oct 2021

Emirates NBD MD says acquisition of DenizBank marks ‘a new chapter in growth journey’

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Emirates NBD signed a new deal in April to buy Sberbank’s wholly-owned Turkish unit that could save the Dubai-based lender as much as $700 million.

DenizBank

Emirates NBD gets approvals for Turkish deal

by Gavin GibbonSun 30 Jun 2019Thu 7 Oct 2021

Dubai’s biggest bank given go ahead from Turkey’s regulator for Denizbank purchase

DenizBank

Emirates NBD said to win key approval for Turkish bank deal

by BloombergThu 27 Jun 2019Thu 7 Oct 2021

Sources say Dubai’s biggest bank gets nod from UAE Central Bank but still needs go-ahead from Turkey’s regulator for Denizbank purchase

The United Arab Emirates’ biggest Islamic lender said in April it’s weighing a possible acquisition of Dubai-based Noor Bank.

Abu Dhabi Commercial Bank

Look who’s talking: the Gulf’s $1trn bank merger bonanza

by BloombergMon 20 May 2019Thu 7 Oct 2021

More than 20 Gulf financial institutions with total assets exceeding $1 trillion are in merger talks

The purchase is both Turkey’s largest M&A deal since 2012 and the Dubai bank’s biggest acquisition. The deal is expected to close in the second quarter.

bank acquisition

Emirates NBD to pay 14% less for Turkey’s Denizbank after lira slide

by BloombergWed 3 Apr 2019Wed 6 Oct 2021

Emirates NBD will now pay $2.75bn for Sberbank’s wholly-owned Turkish unit

The terms of the purchase, which fixed the exchange rate in a corridor, meant that Emirates NBD agreed to pay a minimum of about $3.4 billion for Denizbank, according to Sberbank’s CFO Alexander Morozov.

alexander morozov sberbank

Emirates NBD said to consider paying Sberbank less for Denizbank

by BloombergWed 3 Oct 2018Wed 6 Oct 2021

Emirates NBD struck a deal to buy Denizbank for 14.6 billion liras, which was worth more than $3 billion on May 22 – the lira has lost almost 30% of its value since then

Since Emirates NBD agreed to buy the Turkish lender from Russia’s Sberbank for 14.6 billion liras - worth $3.2 billion on May 22 - the value of the acquisition has fallen to about $2.27 billion in dollar terms after a 28 percent plunge in the lira, with most of that occurring last week. A deal is expected to close later this year.

Arqaam Capital

Emirates NBD’s acquisition of Turkey’s Denizbank just got $1bn cheaper

Written by Staff Writer Mon 13 Aug 2018Thu 7 Oct 2021

Denizbank deal could prove to be the riskiest yet for Dubai’s biggest bank

DenizBank

Emirates NBD announces $3.2bn deal to acquire Turkey’s Denizbank

Written by Staff Writer Tue 22 May 2018Thu 7 Oct 2021

Denizbank is Turkey’s fifth largest private bank with $37 billion in assets

DenizBank

Emirates NBD to raise foreign ownership limit

Written by Staff Writer Sun 11 Mar 2018Thu 7 Oct 2021

Dubai’s largest lender is preparing to submit a bid for Turkey’s DenizBank