Israeli group plans to sell stakes in Turkish bank

Israeli group plans to sell stakes in Turkish bank

Hülya Güler - ISTANBUL
Israeli group plans to sell stakes in Turkish bank Israel’s Hapoalim Investment has plans to sell a majority stake in Turkish BankPozitif, amid political coolness between Israel and Turkey, according to sources. 

BankPozitif Chairman Hasan Akçayalıoğlu confirmed various talks for a possible sale are the case, but there has not been any official decision yet. 

He noted BankPozitif was one of the biggest investments of Israel in Turkey, adding he couldn’t name with whom the negotiations were being held for a possible sale. 

He also said the current political relationship between Turkey and Israel was not encouraging for the businesspeople of both sides to foster ties. 

The group plans to sell its 69.83 percent stake in the bank, while Turkish İmam Altınbaş, whose business groups have operations in jewelry, finance and energy, was interested in buying the stakes, sources added. 
İmam Altınbaş, however, said there has not been any official talks with the Israeli group. 

The remaining 30.17 percent of the bank is owned by Turkey-based C Faktoring. 

BankPozitif’s asset volume reached 1.8 billion Turkish Liras and its loan volume reached 1.2 billion liras at the end of 2014. The bank has one branch in the country. 

BankPozitif has been interested in taking a deposit banking license from the Turkish authorities, but banking watchdog BDDK wants to see a full banking license to offer any deposit banking license, according to sources.

This is another reason for the Israeli group to exit the Turkish market, sources added.