Emirates NBD will support Denizbank if it needs capital increase -NBD CEO

In April, Emirates NBD said it was buying Denizbank from Sberbank for $2.8bln, lower than a previously agreed price.

  
A view of Emirates NBD head office in Dubai, UAE January 30, 2018. Image used for illustrative purpose.

A view of Emirates NBD head office in Dubai, UAE January 30, 2018. Image used for illustrative purpose.

REUTERS/Satish Kumar

ISTANBUL- Emirates NBD Group CEO Shayne Nelson said that the bank would support Turkey's Denizbank if it needed a capital increase, as the Dubai-based bank completed the purchase of Denizbank on Wednesday.

Speaking at the signing ceremony of Sberbank's sale of its shares in Denizbank to Emirates NBD, Nelson said that NBD is a long-term investor in Turkey.

In April, Emirates NBD said it was buying Denizbank from Sberbank for 15.48 billion lira ($2.8 billion), lower than a previously agreed price. Turkey's BDDK banking watchdog approved the transaction in June and the sale was completed on Wednesday.

($1 = 5.5250 liras)

(Reporting by Ali Kucukgocmen Editing by Dominic Evans) ((ali.kucukgocmen@thomsonreuters.com , @alikucukgocmen; +902123507067; Reuters Messaging: Reuters Messaging: ali.kucukgocmen.thomsonreuters.com@reuters.net))

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