BUSINESS

Turkey's Isbank eyeing Piraeus Bank Egypt

Turkiye Is Bankasi AS, Turkey?s biggest listed bank by assets, said on Friday it continues to study Piraeus Bank Egypt, the Egyptian unit of Greece?s Piraeus Bank SA, and no board decision has been made on the subject.

Piraeus Egypt is one of the banks Isbank is interested in in the country where it plans to expand activities, the bank said in a statement to the Istanbul Stock Exchange.

Isbank, which has a representative office in Egypt, seeks to buy Piraeus Bank Egypt after conducting initial studies, daily Milliyet reported on Friday.

[Bloomberg]

Online