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Qatari bank to open Turkish branch

Business Materials 10 March 2015 14:56

Baku, Azerbaijan, Mar. 10

By Rufiz Hafizoglu - Trend:

One of the banks in Qatar intends to open a subsidiary in Turkey, Haber7 TV channel reported on Mar.10 citing Wissam Fattouh, secretary general of the Union of Arab Banks.

He said that negotiations on this issue are being held with Turkey's Banking Regulation and Supervision Authority.

Fattouh added that it is planned to open the subsidiary of one of the Qatari banks in Turkey by late 2015. However, he didn't specify the amount of the authorized capital of the Qatari bank.

Currently, 49 banks (36 commercial and 13 investment banks) operate in Turkey.

Moreover, three state-owned and 12 private banks (with 100 percent Turkish capital) operate in Turkey, while 16 banks share foreign capital.

Banks Association of Turkey said that 789 branches of local banks were opened in the country in 2014.

Edited by CN

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Follow the author on Twitter: @rhafizoglu

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