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| Eduardo Eguren, CEO, Burgan Bank |
In 2008 we set out on a growth strategy to build up our international capabilities and footprint, in the process helping to diversify our revenue streams and risks. The expansion started with the acquisition of controlling stakes in Jordan Kuwait Bank, Gulf Bank Algeria, Bank of Baghdad and Tunis International Bank.
After those four banks had been integrated into the group, the strategy continued with the acquisition of Turkey’s Eurobank Tekfen (now operating under the name Burgan Bank Turkey) in 2012. This year we acquired, alongside our sister company United Gulf Bank, a controlling stake in FIM bank in Malta.
The Turkish economy has the right fundamentals: it is a growing market, with growing demographics, a well-regulated banking sector and the trade lines between Turkey and MENA are growing fast.