BNP Paribas announced that it has agreed to explore a strategic partnership in the Turkish banking sector with the Зolakoрlu Group. The parties signed a Memorandum of Understanding (MoU) today whereby BNP Paribas intends to acquire a 50% stake in TEB Mali Yatэrэmlar A.Ю.(TEB). The Зolakoрlu Group will remain a 50% shareholder in TEB.
TEB enjoys one of the highest ratings by the international agencies amongst the Turkish banks. It is the 10th largest private Turkish bank in terms of assets and a leading bank in trade finance and private banking. TEB is a mid-sized universal banking group, reputed for the quality and liquidity of its assets and characterised by prudence and conservative management.
