SKOPJE (Macedonia), April 12 (SeeNews) – Turkish state-owned Halkbank has completed the acquisition of 91.56% of Macedonia’s Izvozna i Kreditna Banka (IK Banka) for an undisclosed sum, the Skopje-based bank said.
Halkbank has purchased the 66.56% stake owned by the Netherlands-based Demir-Halk Bank (DHB) and the 25% stake held by the European Bank for Reconstruction and Development (EBRD), IK Banka said in a statement on Monday.
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The transaction was concluded on April 7.
Halkbank owns 30% of DHB Bank.
Ankara-based Halkbank is 75% owned by the Turkish state. It is the seventh largest bank in Turkey with total assets of over 35 billion euro ($50 billion) at the end of 2010.
Macedonia's central bank ranks IK Banka (www.ikbanka.com.mk) as a medium-sized bank.
($=0.6932 euro)