Emirates NBD looks to expand into Turkey

Emirates NBD group is looking for acquisitions or mergers in the Turkish market as part of its plans to expand globally, according to Ahmed Humaid Al Tayer, Chairman of the group.

He said the strategic geographic location and investment opportunities that are available in Turkey make it a very attractive market for the group to venture into.

Emirates NBD has adopted an ambitious expansion strategy, which includes among other promising markets, Turkey.

"Emirates NBD is looking to expand its operations in the Middle East and North Africa region as a priority. However, Turkey is seen as the future industrial powerhouse of Europe and is a market of strategic value for the group," he added. Al Tayer's remarks came during a reception for the newly-appointed Turkish Ambassador to the UAE Hakki Akil. The event was held in co-operation with Ata Invest Dubai and was attended by a number of senior Turkish officials and senior management representatives from Emirates NBD and Ata Invest Dubai.

Al Tayer said Emirates NBD is looking for suitable assets to acquire at reasonable multiples. "The group is seeking opportunities that would be up to or equal to our size and that we are confident we can manage and add value."

Al Tayer also praised the UAE-Turkish relations saying they share a common goal of ensuring economic growth and prosperity through increased profitable investments and trade activities in both countries.

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