This project invests equity in Odea Bank of Turkey to provide additional financial flexibility for the Bank to expand its financing the real sector in Turkey, fund large scale infrastructure projects, increase access to finance for small and medium-sized enterprises, and invest in new technologies to reach 1 million unbanked people in Turkey.
This equity investment is a capital increase of Odea Bank, alongside IFC and a number of private Middle Eastern investors.
Odea Bank started its operations in Turkey in late 2012 as a subsidiary of Bank Audi Group, the largest Lebanese lender and one of the leading international financial institutions with a presence in both the MENA region and Europe. Odea Bank operates 56 branches in 16 cities and employs over 1,500 staff as of June 2016.
Odea Bank started its operations in Turkey in late 2012 as a subsidiary of Bank Audi Group, the largest Lebanese lender and one of the leading international financial institutions with a presence in both the MENA region and Europe. Within only three and a half years of operations, Odea Bank has established itself as one of the key players in the attractive Turkish banking sector reaching eighth position by customer deposits and ninth position by loans as of March 2016, excluding stateowned banks and based on BRSA unconsolidated financial statements of Turkish banks. Odea Bank operates 56 branches in 16 cities and employs over 1,500 staff as of June 2016.
Project Contact: Estel Gürdogan
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