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

Wed, 31st Jul 2019 14:09

ISTANBUL, July 31 (Reuters) - 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)

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