Isbank says no immediate plan to buy bank in Egypt

Daily News Egypt
1 Min Read


Turkiye Is Bankasi AS, Turkey’s biggest non-government lender, has no immediate plans to buy a bank in Egypt, Deputy Chief Executive Aykut Demiray said.


Isbank is looking for opportunities to expand in neighboring countries and would consider a purchase in Egypt if conditions are right, Demiray told Bloomberg HT television channel.

He was commenting on a report in Al-Shorouk newspaper Thursday which said that Isbank got initial approval from Egypt’s central bank to buy the state-owned Arab Investment Bank, while its application to open branches in Egypt was rejected.

Isbank set up a representative office in Cairo in June.


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