Russian, UAE banks discuss sale of Turkish lender

Russian, UAE banks discuss sale of Turkish lender

Sberbank of Russia, which holds 99.9 percent of Denizbank shares, enters into talks with Dubai’s Emirates NBD

By Tuba Sahin

ANKARA (AA) - Denizbank's main shareholder Sberbank of Russia and Dubai’s Emirates NBD have entered into strategic talks over the potential sale of the Turkish lender.

Denizbank said in a statement Tuesday that talks were at a preliminary stage and it was not certain how the process would end.

Sberbank owns 99.9 percent of Denizbank.

Sberbank recently announced it routinely evaluates potential opportunities in a variety of markets and will not make a further statement unless there is an important development, the Turkish lender added.

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