05.12.2012 12:03

Credit Europe Bank sells its share participation in Fibabanka

Credit Europe Bank NV announces that it has completed the sale of its 97.6% shareholding in the Turkish bank Fibabanka AS after obtaining the approval of the supervisory banking authorities both in the Netherlands and Turkey. The shares are transferred to Fiba Holding AS, the ultimate shareholder of Credit Europe Bank NV.

Fibabanka AS (formerly: Millennium Bank) was acquired by Credit Europe Bank in December 2010 from Banco Comercial Portugues.

As result of the continuous changes in the market conditions as well as the regulatory environment, we re-assessed our strategy vis-à-vis our share participation in Fibabanka and we came to the conclusion that the expansion scenario of Fibabanka, built on the opportunities in the Turkish market, did not fit the consolidated one”, says Murat Basbay, CEO of Credit Europe Bank NV.

Credit Europe Bank

More than three and a half million customers around the world entrust their financial affairs to Credit Europe Bank.

We offer corporate customers a wide range of banking products, including international trade and commodity finance, project finance and working capital loans. Represented in key trading hubs such as the Netherlands, Switzerland, China and the United Arab Emirates, as well as in raw material exporting and importing countries including Russia, Turkey and Ukraine, we are well positioned to finance our customers’ transaction flows across the globe. To retail and SME customers we offer simple and transparent products in seven Western and Eastern European countries: Belgium, Germany, the Netherlands, Malta, Romania, and Russia.

Credit Europe Bank NV is headquartered in the Netherlands and operates around 200 branches, 900 ATM’s, 10,900 sales points and 17,000 point of sale terminals. It has more than 6,500 employees in 11 countries.

For more information, please see www.crediteuropebank.com