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Jul 02 2015

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Photo Credit:Reuters/Luke MacGregor

ISTANBUL, July 2 (
Reuters
) –
Qatar National Bank
and
Bahrain’s Arab Bank Corp did not follow up early interest in
acquiring HSBC’s Turkish business because they are more
interested in National Bank of Greece’s Turkish arm Finansbank,
two people familiar with the matter said.

Dutch lender ING Group is set to win the auction to
buy HSBC’s business, after being one of several banks
to submit a non-binding bid in May.

Arab Bank Corp (ABC) was one of the original
bidders while
Qatar National Bank (QNB)
also showed
some early interest,
Reuters
previously reported.

However, two sources told
Reuters
on Thursday that both
QNB

and ABC dropped out because they became interested in
potentially acquiring at least part of Finansbank ,
the Turkish unit of National Bank of Greece .

“We continue to explore the market for the sale of a
minority stake in Finansbank, a 34 percent stake,” an NBG
official said, without giving more details.

(Reporting by Asli Kandemir; Additional reporting by Lefteris
Papadimas in Athens; Writing by David Dolan; Editing by Mark
Potter)
((david.dolan@thomsonreuters.com; +90 212 350 7046;
Reuters

Messaging: david.dolan@thomsonreuters.com@reuters.net))

Keywords: HSBC MA/TURKEY GREECE

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