October 8 (SeeNews) - Qatar's banking group Commercial Bank of Qatar (CBQ) said Tuesday it has identified opportunities for growth in the Turkish banking sector.
Turkey is a key growth market for CBQ and the recent acquisition of Turkish lender Alternatifbank [BIST:ALNTF] represents a strategic entry point to the country's fast growing banking sector, CBQ's chairman Abdullah bin Khalifa Al Attiyah said during a gala reception held in Istanbul, CBQ said in a statement.
CBQ said also that the acquisition of Alternatifbank is its first investment in Turkey and its first controlling stake in another bank.
CBQ acquired a 75% stake in Alternatifbank from local diversified holding group Anadolu Endustri Holding in July.