Qatar’s QNB acquires stake in Turkish bank for $2.95bn

Qatar National Bank, the Gulf Arab region’s largest bank, said on Tuesday it had reached an agreement with National Bank of Greece to acquire its entire 99.81 percent stake in Turkey’s Finansbank for 2.7 billion euros ($2.95 billion).

The closing of the transaction had been approved by the board of directors of both banks and the General Council of the Hellenic Financial Stability Fund, QNB said in a statement.