Japanese Bank Gets License, More Lenders Flock To Turkey

 

 

The Turkish banking sector is attracting more and more international players as the country’s sector regulator, the Banking Regulation and Supervision Agency (BDDK), has approved The Bank of Tokyo-Mitsubishi UFJ. Local Anadolu Endustri Holding has said in a filing to the Istanbul Stock Exchange (IMKB) that it has started talks with the Commercial Bank of Qatar to sell its controlling shares in Alternatifbank. Yesterday’s developments followed the opening of the first branch of Odeabank, the Turkish unit of the Lebanon-based Bank Audi, in Istanbul. Bank Audi became the first new bank to receive BDDK authorization after nearly 14 years as the regulator has been acting cautiously since the crisis in 2002. Analysts have told that the Commercial Bank of Qatar’s approach to Alternatif was a sign of high Gulf interest in Turkish lenders, which might encourage other investors. The Bank of Tokyo-Mitsubishi UFJ will be founded with $300 million in capital, the same amount as Bank Audi, according to the decision published in the Official Gazette yesterday.