Author Topic: Advice on which bank to invest in Fethiye  (Read 3806 times)

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Offline Denise40

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Advice on which bank to invest in Fethiye
« Reply #10 on: April 26, 2012, 09:50:00 AM »
This statement fron Finansbank was issued to all those with accounts and had the same worries about Greece:

Here is some information about Finansbank;

 

Besides these general views about the situation in Greece and potential effects on NBG, Finansbank has no relation to NBG outside of the fact that it is the largest shareholder. What I mean is:

 

Finansbank holds no bonds, securities, loans or shares of Greek companies or Greek government.  Finansbank generates its financial results fully from domestic operations, and any profits realised are kept in Turkey and added to Finansbank's equity. Despite the issues in Greece, NBG has contributed to Finansbank's growth with equity raises. Most recently, it has contributed to Finansbank's capital raise in December 2010 with 520 million TL. There is no funding relation between NBG and Finansbank outside of equity or any outflows of funds from Turkey to NBG. Any such outflows would only occur in the form of dividens; however such dividend payments are subject to the approval of the Turkish regulator BDDK.




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