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Turkey's biggest listed lender eyeing Piraeus Bank Egypt
Isbank, one of Turkey's leading banking and financial groups, is looking to acquire Egyptian unit of fourth largest Greek lender (Piraeus)
Ahram Online Published in Ahram Online on 04 - 03 - 2012

Turkiye Is Bankasi AS, Turkey's biggest listed bank by assets, said on Friday it continues to study Piraeus Bank Egypt, the Egyptian unit of Greece's Piraeus Bank SA.
No board decision has been made yet, the Turkish bank reported.
In November, 2011 Piraeus Bank posted a nine month loss of 287 million euros ($382 million) after a jump in bad debt provisions.
Greece's fourth largest lender began discussions with other potential buyers for its Egyptian unit following Standard Chartered's decision not to proceed due to a worsening economic climate as it has already received indications of interest from other buyers.
Piraeus Bank Egypt had equity capital of 103 million euros, a 737 million euro loan book, assets totalling 1.38 billion euros and 48 branches at the end of March.

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