Monday, April 27, 2015

Turkish state lender Ziraat to open first foreign bank branch in Ethiopia

(Apr 27, 2015, (Addis Ababa))--Turkey’s largest state-owned lender, Ziraat Bank, has proposed opening the first foreign-owned bank branch in Ethiopia, Turkish Economy Minister Nihat Zeybekci has said. Speaking at the Turkey-Ethiopia Business Forum in Ankara on April 27, Zeybekci said Turkish lender Ziraat Bank was awaiting a response from Ethiopia on its proposal.

“Ziraat Bank sent a proposal to open a branch in Ethiopia. First, the bank will open an office there, then the bank will be the first bank to obtain a banking license in Ethiopia,” he said. “I think that everything is positive and it will be positive to open before the end of the year,” he said.

Ziraat employs more than 24,000 people in 1,700 branches and has 57 branches in foreign countries including Germany, Bosnia and Herzegovina, Kazakhstan, Russia, the U.K., the U.S., Georgia, Bulgaria and Greece.

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