Qatar’s QNB says receives regulators’ nod to buy Turkey’s Finansbank

Dubai: Qatar National Bank (QNB) has received the approval of Qatar’s central bank and Turkey’s Banking Regulation and Supervision Agency to acquire Turkey’s Finansbank, the Gulf Arab region’s largest lender said on Sunday. In December, QNB said it had agreed to buy Finansbank from National Bank of Greece for €2.7 billion (Dh11.3 billion, $3.08 billion). The share transfer to QNB will take place once remaining regulatory approvals were received, it said in Sunday’s statement. QNB will make a further public announcement once that process had been completed, it added.