Emirates NBD in initial discussion with Sberbank to buy its stake in Denizbank

Dubai: Emirates NBD said on Tuesday it is in initial strategic discussions with Sberbank of Russia to buy its stake in Denizbank A.

“Discussions are at a very preliminary stage and there is no certainty that any transaction will be entered into. A further announcement will only be made if there is a material development,” the bank said in an emailed statement.

The bank added that it routinely evaluates potential opportunities in different markets. Emirates NBD shares rose more than 3 per cent in a weak Dubai market.