News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Citigroup follows rivals into Turkey

Citigroup has become the latest Wall Street bank to expand its business in Turkey, buying a 20% stake in the country's third-largest bank for $3.1bn (€2.5bn).

The deal for Turkey's Akbank comes six months after the US investment bank lost out in the $5.5bn bidding war for Finansbank, the country's eighth largest bank, to the National Bank of Greece.

WSJ Logo