Two Iranian lenders plan to enter Turkish market: Watchdog

“We have taken demands from Iranian banks. Two Iranian lenders want to take banking license in Turkey,” said the head of the Banking Regulation and Supervision Agency (BDDK), Mehmet Ali Akben, on March 16. 

He noted that further interest in the Turkish market is expected from the Iranian banking sector in the upcoming period of the post-sanctions era.

Akben said Turkey’s banking sector operates in accordance with global standards, and this has given much prestige to the sector. 

“This has also made our sector quite appealing for foreigners…For instance, Qatari lenders also want to become more active in Turkey,” he added. 

Qatar National Bank (QNB), the Gulf Arab region’s largest bank, agreed to buy Turkey’s Finansbank from the National Bank of Greece (NBG) for 2.7 billion euros ($2.95 billion) in December 2015, as it steps up its search for larger markets overseas. With the latest acquisition, Qatari companies have strengthened their hands in the Turkish market.