Turkey's fifth largest private lender Denizbank informed in a written statement that it signed a financial cooperation agreement with Hungary's state-owned Export Import Bank Eximbank on December 17 . Accordingly, Eximbank will provide up to EUR 100mn financing to Denizbank and Denizbank will provide financing to Turkish companies to finance imports from Hungary . The maturity of the loans those will be used by Turkish companies to finance imports from Hungary will be between 2 years to 10 years. The agreement is signed between Denizbank and Hungarian Eximbank under the scope of a previous agreement inked between Eximbank and Denizbank's shareholder Russian Sberbank in April. Denizbank Financial Services Group currently operates 685 branches in all 81 provinces of Turkey and abroad, and employs a total of nearly 14,000 personnel. Denizbank Financial Services Group consists of six domestic and three international financial subsidiaries, four domestic non-financial subsidiaries and a branch in Bahrain . Denizbank was acquired last year by Russia's Sberbank for EUR 2.8bn .
Most Popular Stories
- Software Writers Sought in Indiana
- Photo ID Required for Unemployment Benefits
- Ukraine Crisis Limits Losses in Gold, Silver
- Can GOP Dodge Immigration Bullet?
- Tech Firms to Increase Hiring for 4th Year in a Row
- Job Fair for S.C. Grads
- Chiquita, Fyffes to Form Top Banana
- How Past Mistakes Will Drive Ukraine's Future
- Millennials Favor Saving Over Investing: UBS
- Big Earthquake Rumbles Northern California