ID :
161189
Tue, 02/15/2011 - 13:59
Auther :
Shortlink :
https://oananews.org//node/161189
The shortlink copeid
Turkey's Is Bankasi to sell its stake in Arab Turk Bank
ISTANBUL (A.A) - 15.02.2011 - Turkey's Is Bankasi will sell its 20.6 percent stake in Arap Turk Bank (A&T Bank) to Libyan Foreign Bank for 85.3 million liras (nearly 54 million USD).
Is Bankasi said in a statement on Tuesday that it authorized the Director General's Office to sign the necessary papers about sale of the stake.
The bank also said that it would sell the A&T Bank stake to Libyan Foreign Bank or to people or institutions to be designated by the Libyan bank.
Established in 1977, A&T Bank is a joint venture Bank, between Arab (63.99 percent) and Turkish (36.01 percent) shareholders. The bank has got the full licence to realise all kinds of banking operations such as International Money Market, Foreign Exchange operations and engaged in global financing and deposit taking activities to become the link between the businessmen in Turkey, Arab and other foreign countries. The bank started with its central branch in Istanbul. Currently, the bank provides service through its 6 branches across Turkey.
Is Bankasi said in a statement on Tuesday that it authorized the Director General's Office to sign the necessary papers about sale of the stake.
The bank also said that it would sell the A&T Bank stake to Libyan Foreign Bank or to people or institutions to be designated by the Libyan bank.
Established in 1977, A&T Bank is a joint venture Bank, between Arab (63.99 percent) and Turkish (36.01 percent) shareholders. The bank has got the full licence to realise all kinds of banking operations such as International Money Market, Foreign Exchange operations and engaged in global financing and deposit taking activities to become the link between the businessmen in Turkey, Arab and other foreign countries. The bank started with its central branch in Istanbul. Currently, the bank provides service through its 6 branches across Turkey.
