Global Banking Directory
Press Release Distribution Service
Add Bank | Banking Forum | Scam Alerts!
  • Blockchain Fest 2023
  • PPP MENA Forum 2023
  • INFOXIA - IXA Token
BanksDaily on Twitter BanksDaily on FaceBook BanksDaily on LinkedIn BanksDaily on Instagram

Press Release :: Dexia

Logo DexiaFollowing their entry into exclusive negotiations on 24 May 2012, Dexia has signed today with Sberbank the sale and purchase contract of its 99.85% stake in DenizBank.

The transaction covers DenizBank as well as all of its subsidiaries in Turkey, Austria and Russia. The expected price consideration at the end of the competitive bidding is TRY 6,469 million, representing around EUR 2,821 million after conversion at the current exchange rate of the Turkish Lira, As a reference, Denizbank's shareholders equity excluding minorities amounted to TRY 4,628 million as at 31 December 2011 under BRSA guidelines. December 2011. The price will be adjusted at the transaction's closing so as to take into account the evolution of DenizBank's net asset value, based on calculations under IFRS rules, between 31 December 2011 and the closing date. Assuming closing in the fourth quarter 2012, this would imply a total consideration in Turkish Lira of up to TRY 7,089 million or approximately EUR 3,091 million at the current exchange rate.

Subject to all the necessary regulatory authorizations including that of the European Commission, the transaction should be finalized in the course of the fourth quarter of 2012. Dexia will release the details of the estimated impacts on its financial statements and its regulatory ratios at the closing of the transaction.

The disposal of DenizBank represents a major milestone in the orderly resolution plan initiated in October 2011. The backing of Sberbank, on its part, reinforces the potential for development of DenizBank’s commercial franchises, which recorded a sustained growth since its entering the
Dexia group perimeter in 2006.

Pierre Mariani, Chief Executive Officer of the Dexia Group and Chairman of the Board of Directors of DenizBank declared "Since 2006 Dexia has shouldered and encouraged the profitable development of DenizBank which has become an important player, which has found its place within the Turkish banking industry. At the close of a competitive selection process, Dexia chose an industrial partner able to carry further this development and enhance its growth potential. For Dexia, this agreement represents a significant inroad into the implementation of the decisions notified by the States to the European Commission for an orderly resolution of the Dexia group."

Source: Dexia
Date: 08.06.2012
Financial and Banking News
 Blockchain Fest Singapore 2023 will be the largest event in Asia

FINEXPO is proud to bring Blockchain Fest 2023 to Marina Bay Sands Convention Center, Singapore, one of the biggest venues in Singapore. Singapore is the most crypto friendly environment and a real hub of modern financial Asia inviting companies from Europe and the world to join the event. 10.01.2023 | Source: FINEXPO

 Why is a white label digital bank the best solution for your business in 2022

In the era of media and technology, everything around us is digitized. After the COVID-19 breakout traditional banking actions were replaced or complemented with fintech services. According to the latest Harris polls and Plaid's survey, it has become paramount for 88% of American consumers' financial lives.

 JPMorgan becomes first major bank in the metaverse, opens lounge in Decentraland

JPMorgan has become the world’s first bank to set up shop in the metaverse. The largest bank in the US has opened a lounge in the blockchain-based world Decentraland.

 📰 News Archive

2007-2023 © | All Banks in One place