ING has earlier reached an agreement with Oyak Group to acquire 100% of the shares in Oyak Bank for an amount of $2.67 billion.
Eli Leenaars, executive board member and responsible for ING’s global retail banking activities, said: The approval of the BDDK is an important step forward in executing our growth strategy in Turkey. I am convinced that by leveraging ING’s know how in combination with Oyak Bank’s strong distribution and knowledge of the market we will be able to set the standard in helping our Turkish customers to manage their financial futures.
