Emirates NBD Group CEO Shayne Nelson said that the bank would support Turkey’s Denizbank if it needed a capital increase, as the Dubai-based bank completed the purchase of Denizbank on Wednesday.
Speaking at the signing ceremony of Sberbank’s sale of its shares in Denizbank to Emirates NBD, Nelson said that NBD is a long-term investor in Turkey.
In April, Emirates NBD said it was buying Denizbank from Sberbank for 15.48 billion lira ($2.8 billion), lower than a previously agreed price. Turkey’s BDDK banking watchdog approved the transaction in June and the sale was completed on Wednesday. ($1 = 5.5250 liras)