Author Topic: Bank of Greece forced to sell Finansbank  (Read 5312 times)

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Offline nichola

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Bank of Greece forced to sell Finansbank
« on: December 22, 2015, 09:28:12 AM »
Breaking news....

The good news is though that the Bank of Qatar is buying it.

The staff at Finansbank in town are very happy as it is a strong bank and the alternative which apparently could have been a takeover by Garanti bank hadn't appealed...

They seem to think that this way things should stay broadly the same.

Offline JohnF

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Re: Bank of Greece forced to sell Finansbank
« Reply #1 on: December 22, 2015, 13:07:44 PM »
I don't think it was ever going to be sold domestically, i.e. to another Turkish institution - the Greeks need hard cash and not many of the Turkish suitors would have been in a position to finance the deal. 

Finansbank has always been a "sellable" (and attractive to buyers) asset for the BoG and while there wouldn't have been a queue oot the door of potential purchasers, they wouldn't have been short of interest.


JF

Offline usedbustickets

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Re: Bank of Greece forced to sell Finansbank
« Reply #2 on: December 22, 2015, 17:12:41 PM »
Early on in the disposal of HSBC Turkey the Bank of Qatar was seen as favourite to buy HSBC Turkey.  That is until the Greek government to all intents and purposes gave up the austerity fight to the big bad EU or rather German financiers and agreed to sell off all the state owned assets, including Finansbank.  Which left HSBC with one potential preferred buyer ING bank.  Who have been dragging their heels ever since to close the deal.  I assume to chip and chip again at the price.

Can't think of a worse bank to take over HSBC Turkey than ING. Then again it could have been RBS.

Offline Menthol

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Re: Bank of Greece forced to sell Finansbank
« Reply #3 on: December 22, 2015, 21:57:41 PM »
Thanks for this information, Nichola.

As a Finansbank account holder, I'm just hoping my meagre kitty isn't used to further fund ISIS or be spent on yet another football stadium.

I can always move my account of course.

Are there any ethical banks out there?

Hahahahahahahahahahahahahahahahahahahaha.  :-\

Offline kevin3

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Re: Bank of Greece forced to sell Finansbank
« Reply #4 on: December 22, 2015, 23:07:14 PM »


   There's always The National Bank of Footwear Containers.  Government Approved.

Offline KKOB

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Re: Bank of Greece forced to sell Finansbank
« Reply #5 on: December 23, 2015, 03:19:18 AM »
They'd be boxing clever if they soled to them.

Offline nichola

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Re: Bank of Greece forced to sell Finansbank
« Reply #6 on: December 23, 2015, 06:13:44 AM »
You can always move to Sekebank Menthol;. 30% owned by the staff, better interest rates on deposits and better exchange rates when changing foreign currency and rarely any waiting times at the counter or to see staff.

Offline usedbustickets

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Re: Bank of Greece forced to sell Finansbank
« Reply #7 on: December 23, 2015, 08:18:57 AM »
You can always move to Sekebank Menthol;. 30% owned by the staff, better interest rates on deposits and better exchange rates when changing foreign currency and rarely any waiting times at the counter or to see staff.
Do they have English speaking staff??

Offline nichola

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Re: Bank of Greece forced to sell Finansbank
« Reply #8 on: December 23, 2015, 08:28:51 AM »
They do - Şennur Baltacı is her name    :)

Offline wickwilly

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Re: Bank of Greece forced to sell Finansbank
« Reply #9 on: December 23, 2015, 13:39:58 PM »
Actually all the cashiers speak some English, too.
WW




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