Privatization of Turkish Halkbank focused on foreign investors

Business Materials 18 October 2012 20:55 (UTC +04:00)

Azerbaijan, Baku, Oct. 18 /Trend corr. A.Tagiyeva/

Turkish Halkbank plans to sell 80 percent of privatization share package to foreign investors, Turkish Privatization Agency (OIB) stated in the report, published on Thursday on its website.

Some 20.8 percent of the bank capital, which are going to be sold over next 6 months, have been put for privatization

The 80-percent stake of the banks share package, put up for privatization, is estimated at 260 million liras. The remaining 20 percent will be sold to local private investors and local institutional investors, 10 percent for each.

Privatization of Turkish banking sector has started in recent years. Previously, Deniz Bank was privatized. It was purchased by Russian 'Sberbank' for 6.47 billion Turkish liras.

Previously reported, following the completion of Halkbank and Vakıfbank's privatization, the state owned Ziraat Bankasi will be put up for privatization.