Kazakh banking giant Kaspi.kz has taken action to acquire T-Bank.

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Recently, the Kazakh banking giant Kaspi.kz, which purchased the shares of Hepsiburada owned by Doğan Holding, has now taken action to acquire T-Bank. T-Bank has 12 branches in Turkey.

Turkland Bank (T-Bank), which was established by Lebanese and Jordanian investors in equal partnership, was sought after by Zeren Group from Turkey, but the sale had not been completed.

The reason for the bank not being sold to Zeren Group was cited as the investigation opened by the Istanbul Chief Public Prosecutor's Office for "organized fraud" due to the non-payment of a 20 billion TL loan received from Moscow Credit Bank.

The Banking Regulation and Supervision Agency (BDDK) had not approved Zeren Holding's acquisition of T-Bank. Subsequently, the bank's chairman Michel Accad came to Turkey and unilaterally terminated the contract.

PAPARA HAD ALSO SHOWN INTEREST

Another interested party for T-Bank was Papara, an electronic money and payment institution. Papara had withdrawn from the sales process early on.

THEY HAD PURCHASED HEPSİBURADA

Earlier this week, a new development occurred regarding the sales process of T-Bank. The Kazakh banking giant Kaspi.kz, which purchased 65.4% of the shares of the e-commerce company Hepsiburada owned by the Doğan group for 1 billion 127 million dollars, has shown interest in T-Bank.

A protocol and confidentiality agreement were signed between the companies at the beginning of the acquisition process. As in previous bank sale agreements, the BDDK will decide on the sale approval of T-Bank.