Dutch Rabobank enters Turkey’s banking market
ANKARA – Anadolu Agency
Rabobank is ranked 26th in The Banker magazine’s world’s 1000 largest banks list.Turkey’s banking regulator has approved the establishment of a deposit bank that will have the Dutch Rabobank group as the controlling shareholder.
Rabobank will control 96 percent of the bank which will have an initial capital of $300 million (575 million Turkish Liras).
The Banking Regulation and Supervision Agency’s approval (BDDK) has been published on today’s edition of the official gazette.
Ranked 26th in The Banker magazine’s world’s 1000 largest banks list, Rabobank also figures among the world’s 50 safest banks chosen by Global Finance magazine.
Another Dutch banking group, ING bought Oyakbank from Turkey's military pension fund in 2007 and started operating under its own name in 2008.
Both giant Dutch lenders will now also compete in the Turkish market.