QNB receives regulatory nod for Finansbank deal

Qatar National Bank has received regulatory approval from the emirate’s central bank and Turkey’s Banking Regulation and Supervision Agency to acquire Finansbank, It said today.

The Gulf’s largest lender announced the deal to acquire Turkey’s Finansbank from National Bank of Greece in December for 2.7bn euros ($3.08bn).

The transfer of the company’s shares will begin once remaining regulatory approvals have been achieved.

QNB said it would confirm the deal once the process had been completed.