Deals
Dubai’s Biggest Bank Gets Key Approval for Turkey Denizbank Deal
- Emirates NBD received approval from the U.A.E.’s central bank
- Banks signed revised deal in April after lira slump last year
Photographer: Ismail Ferdous/Bloomberg
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Emirates NBD PJSC received a key regulatory approval taking Dubai’s biggest lender a step closer to completing its purchase of Turkey’s Denizbank AS, two people with knowledge of the matter said.
Emirates NBD got approval from the United Arab Emirates central bank, but still needs Turkey’s banking regulator to approve before the acquisition from Russia’s Sberbank PJSC can be completed, said the people, asking not to be identified because the information isn’t public.