Turkish Bank Fibabanka Receives Minority Investment from The Abraaj Group

fibabankaIstanbul, Turkey-based bank Fibabanka A.S., received a minority investment from The Abraaj Group.

The financial terms of the deal – which is expected to be completed in the third quarter of the year – were not disclosed.

The banks plans to use the capital to expand its franchise and support its growth.

Acquired in 2010 by the Fiba Group, a conglomerate operating mainly in financial services, retail, energy, healthcare and real estate with total assets of over US$17 billion and annual revenues of c. US$1.2 billion, Fibabanka currently has 70 branches across 18 cities in Turkey, total assets of US$4.3 billion and a loan book of US$3.2 billion at the end of Q1 2016.



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