ING Acquisition of Turkey’s Oyak Bank gets Approval
ING Groep NV that Dutch financial services group said on Friday that it has received regulatory approval for its acquisition of Turkey ’s Oyak Bank.
Joining other overseas financial groups buying into the fast-growing Turkish market, ING announced in June its deal to buy Oyak Bank for $2.67 billion. The approval to buy Oyak was granted by BDDK, Turkey ’s banking regulator, ING said in a statement.
After a series of foreign acquisitions into Turkey ’s fast growing banking sector, Oyak’s acquisition is viewed as one of the last opportunities to break into this market.
Turkey Property News