Finance: rich from Mideast revive Turkish banks

15 November, 12:03

(ANSAmed) - ISTANBUL, NOVEMBER 15 - Some USD 770 million flowed into Turkey's private banking sector in the last year alone, said Saltik Galatali, the private banking head of Turkish lender Akbank, as daily Hurriyet reports. The money came largely from Middle Eastern and developing Far Eastern countries, the very same sources interested in Turkey's real estate sector, which is increasing thanks to a recently enacted regulation that facilitated foreigners' access to the local market. Citizens of Middle Eastern countries, particularly Dubai and Qatar, are very willing to acquire property in Turkey, Galatali said in Singapore, where he received the 'Best Private Bank in Turkey' award on behalf of Akbank from The Banker, a leading global financial publication. Akbank opened a private banking office at the beginning of the year in Dubai to tap into the potential in the region, he said, adding that Akbank Private Banking aims to reach an asset size of 1 billion Turkish Liras (435 million euros) in the region. (ANSAmed).

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