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Three Foreign Banks Seek to Enter the Turkish Market

: 2016-12-27

Three Foreign Banks Seek to Enter the Turkish Market
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Mehmet Ali Akben, the President of the Regulation and Supervision Agency in Turkey, declared that three foreign banks (Emirati, American, and Indian) had expressed an interest to expand their business in Turkey. Besides, these banks are expected to join the Turkish market during 2017.

This interest of the foreign banks comes after classifying the Turkish banks within the list of European banks as well as after the Chinese bank has started providing its services in Turkey; the thing that have encouraged many banks to think about establishing branches in Turkey.

Akben said that one of the banks in the United Arab Emirates is making a study to join the banking sector in Turkey. Moreover, a financial group from the United States plans to set up a bank in Turkey. He added: "In the recent period, we have agreed on establishing these banks in Turkey, which is planned to be operating in Turkey next year."

Akben indicated that the interest in investing in Turkey will increase after solving the regional problems experienced recently.

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