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BNP Paribas intends to take a majority stake in Finansbank

  • 02.07.2001
Today, BNP Paribas and FIBA Holding have announced the signing of an exclusivity agreement in order to evaluate the possible acquisition of a majority shareholding by BNP Paribas in Finansbank, FinansInvest and Finans Leasing, and other financial affiliates, all controlled directly or indirectly by FIBA Holding. Starting immediately, the two groups will study the scope of the proposed partnership and all areas of potential cooperation.

Finansbank, a banking group headquartered in Istanbul, Turkey, had $4 billion in total assets as of March 31. The bank has 116 branches in 28 cities, 450,000 individual clients and 6,700 corporate and commercial clients in Turkey. Recently, FIBA Holding signed an agreement to form a 50% joint venture with Benkar, a leader in consumer credit with 1.25 million Advantage cards.

This project is in line with BNP Paribas' strategy of developing its international retail banking activities.
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