Turkey’s Ziraat Bankasi exits Macedonia’s Halkbank

The holdings of Ziraat Bankasi were acquired by its Turkish peer Halkbank, helping it boost its stake in Halkbank a.d. Skopje to 98.78%, the Macedonian lender said in a filing with the Macedonian Stock Exchange on Thursday

The Macedonian units of Turkey’s Halkbank and Ziraat Bankasi were merged in October.

After the transaction that took place on November 23 on the Skopje bourse, Turkey’s Halkbank owns a total of 285,836 shares in Macedonian bank.

The bourse said last week that a stake of 34.89% in Macedonia’s Halkbank changed hands in a block deal worth over 1.17 billion denars ($24.7 million/19 million euro).

(1 euro = 61.5004 Macedonian denars)