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Investment in Turkey |
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Turkey's regulatory environment is extremely business-friendly. You can establish a business in Turkey irrespective of nationality or place of residence. The registration and establishment of a company in Turkey can be completed in one day.
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For more information regarding potential investment opportunities in the Turkish market, a law firm should be consulted.
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Merrill Lynch plans new Turkish property fund in 08
Merrill Lynch plans to launch a new Turkish real estate investment fund by the end of this year, the head of the investment bank's Turkish arm said. The new fund follows another real estate fund worth $1 billion launched just over a year ago. Merrill Lynch Turkey chief Kubilay Cinemre gave no details on the possible size of a new fund. |
Qatari bank eyes Turkish market
Qatar Islamic Bank (QIB) has launched talks with a bank in Turkey over entering the Turkish market, QIB's CEO has stated. CEO Salah al-Jaidah told the Financial Times that QIB is now looking to acquire an institution in Turkey in an effort to take advantage of opportunities for growth there and across Central Asia, while also considering Egypt as a base for North Africa. |
TUPRAS refinery tops Turkey's first Fortune 500 list with $18.45 bln
TUPRAS (Turkish Petroleum Refineries Co.) has been the biggest company of Turkey by net sales revenue totaled 22.52 billion YTL ($18.45 billion) according to the figures released by the first Fortune 500 research conducted in Turkey while state-owned electricity distributor TEDAS ranked second with 15 billion YTL ($12.29 billion) and POAS (Petrol Ofisi) third with 13.47 billion YTL ($11.04 billion) net sales revenue. |
Italian FM Frattini: "630 Italian firms to invest in Turkey"
Italian Foreign Minister Franco Frattini hailed the joint Italian-Turkish project for the manufacture of 91 attack helicopters for the Turkish military, during an inauguration ceremony at the TUSAS plant in Ankara. The project will be led by Turkey's TUSAS, with another Turkish firm, Aselsan, and Italy's AgustaWestland joining as sub-contractors. After ceremony Frattini cited that 630 Italian firms will come to invest in Turkey. |
IMF report on Turkey stand-by positive
The IMF team described Turkey's performance as ‘positive’ in both stand-up agreements regarding the length, the commitments and the efficient use of the financial assistance, Anatolian Agency reported on Wednesday. |
Spain's Essentium to build plant in Turkey
Spanish company Essentium plans to invest 400 million Euros ($627 million) building two cement factories in Turkey, Milliyet newspaper said, citing Foreign Trade Minister Kursad Tuzmen. The factories will be completed by 2011 and will produce 4 million tons of cement a year, Tuzmen told a conference on Turkish-Spanish trade in Madrid, according to the newspaper. |
Hilton increases investment target to $1 billion in Turkey
Amplio Real Estate Investment and Development Company, which was established with the objective of building 20 Hilton Garden Inn Hotels and Hampton Inn hotels with a total investment of $300 million, has decided to expand its business. Amplio Company, which was satisfied with the potential in Turkey, increased its building objective to 40 hotels and its investment target to $1 billion. |
Scotiabank finalizes license for representative office in Turkey
Canadian-based Scotiabank announced that it has been granted a license to begin conducting business in Turkey, a gateway to Europe, Asia, the Middle East and Africa. |
OECD report: Turkey’s growth will surpass India’s by 2017
Turkey's growth rate is expected to rank third after China and India in coming years and to pass India and take the second spot by 2017 among Organization for Economic Cooperation and Development (OECD) member countries, according to a new report. |
Energy company AREVA T&D to invest $105 mln in Turkey
AREVA, one of the world's leading energy transmission and distribution companies, has decided to spend $105 million to expand their operations in Turkey by constructing a new factory that will create employment for an additional 600 people. |
Third Turkish-Arab Economic Forum gets special significance
The Prime Minister of Turkey, Recep Tayyip Erdogan, has invited Arab prime ministers to the Third Turkish Arab Economic Forum to be held in Istanbul on June 12-13, 2008. |
Danone’s new facility launched in Turkey
Danone opened its new milk production facility in Tekirdag's Luleburgaz district with the attendance of its promotional representative, France's legendary soccer player Zinedine Zidane. |
Home hardware giant Baumax to launch 10 stores in Turkey
Baumax, the largest hardware and home improvement store chain in Southeastern Europe, is eying Turkey for new investments, with the Austria-based company planning to open 10 stores in Turkey within two years. Baumax will join Turkey's rising do-it-yourself market competition along with other giants such as Bauhaus, Praktiker, Tekzen, Koctas and IKEA. |
Primakov visits Turkey to look for further business opportunities
Former Prime Minister of the Russian Federation Yevgeny Primakov, currently the president of the Russian Chamber of Commerce and Industry, is on a visit to Turkey to seek for business opportunities between the two countries. Commercial relations are already at a high level because Russia is Turkey's main natural gas provider and Russian tourists spend $2 billion annually in Turkey. |
BNP Paribas research center moves to Turkey
Turkey's new Research and Development (R&D) Incentive Law, which has sparked an inflow of investments in many sectors including automotive and pharmaceuticals, is now attracting the financial sector. Encouraged by Turkey's new law on R&D, BNP Paribas, the French partner of Turkish Economy Bank (TEB), decided to move its R&D center from France to Turkey. The French company will develop software and train staff in Turkey in order to halve its costs. |
Israel's largest petroleum refiner may invest in Turkey
Oil Refineries Ltd., Israel's biggest petroleum refiner, plans to make acquisitions in Turkey and elsewhere after its sale by the government last year opens up opportunities, Chief Executive Officer Yashar Ben Mordechai said. Oil Refineries is seeking a small refinery or a stake in a larger one, and is looking for purchases in the retail gasoline business in Cyprus, Italy or Turkey, Ben Mordechai said in an interview in Tel Aviv. |
Japanese pharmaceutical giant Daiichi Sankyo to open branch in Turkey
Japanese leading drug producer Daiichi Sankyo has announced that it is planning to open an office in İstanbul to promote and market its Evista drug, widely used to treat osteoporosis, with other products to be introduced in the Turkish market at a later date. |
Construction of Turkish part of BTK railway set to begin in July
The construction of the 76km long section of the Baku-Tbilisi-Kars (BTK) railway project in Turkey will start in July. Ministry of Transportation officials said on Thursday that presidents of Turkey, Azerbaijan and Georgia will lay the foundation of Turkish part of the railway, in June. |
French Vialtis opened a branch in Turkey
Vialtis, a France-based company which -together with International Transporters Association- provides the transporters with services for VAT rebate from foreign countries, has declared that they have opened a branch in Istanbul. |
Saudis will invest in Southeastern Anatolia Project (GAP)
The GAP Project, for which an investment plan of $12 billion has been initiated by the Government, has attracted the Saudis’ attention as well. The first step has been taken in accordance with the leading decisions made regarding investments and cooperation during the visit by Saudi Arabia’s King Abdullah. Saudis will invest in GAP and will purchase land in Turkey.
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New investment by Bosch in Turkey
Bosch, which produces diesel injection and braking systems in Bursa, will start producing gasoline injection systems as of 2009 with a €30 million investment. |
Turkey is to become IBM's regional investment base
General Manager of IBM Turkey, has announced that, in line with the new worldwide strategy adopted by IBM in 2008, Turkey will be located as the investment base for the whole region, especially for the northern countries. |
Two more state-owned electricity grids for sale
The state-owned Meram and Aras electricity distribution corporations are to be privatized, with its shares will be sold as a block, Turkey's Privatization Administration (OIB) announced yesterday in the Official Gazette.
The eventual buyer must provide $10 million as collateral to purchase the Meram Electricity Distribution Corp. shares. The corporation serves Kirsehir, Nevsehir, Nigde, Aksaray, Konya and Karaman. For the shares of the Aras Electricity Distribution Corp., which serves Erzurum, Agri, Ardahan, Bayburt, Erzincan, Igdir and Kars, the figure is $5 million. |
Tourism jubilant with soaring Q1 revenues
Turkey enjoyed a bright season over the winter as its tourism revenue rose by 28.4 percent in the first quarter of 2008 over the same period of the previous year -- hitting $2.8 billion. |
Turkey’s progress in intellectual property rights rewarded
Foreign Trade Minister Kursad Tuzmen has stated that the US has removed Turkey from the list of countries that it monitors in connection with deficiencies in the protection of intellectual property rights.
Tuzmen cited the US move to remove Turkey from its Special 301 Report, which is published annually by the US Trade Representative (USTR), as a sign of recent positive developments in Turkey's protection of intellectual property. "This decision will boost foreign investment," he told the Anatolia news agency. |
Wilbur Ross looking for a Turkish partner for auto-parts venture
Billionaire investor Wilbur Ross said he's looking for a Turkish partner to invest in making automotive parts in the country. "Turkey is a low-cost place to manufacture and has a number of carmakers there like Peugeot and Ford,'' Ross said in an interview in Abu Dhabi today. |
Trump to step into Europe via Trump Towers Istanbul project
Trump Organization, headed by famous American real estate mogul Donald Trump, comes to Europe with its Trump Towers project in Turkey following a number of luxury investment projects in renowned cities around the world. The Trump Towers complex, comprised of two towers and one luxury shopping center, will be erected in Istanbul's Sisli district. |
GE became a shareholder in GAMA
GAMA, one of the biggest construction companies not only in Turkey but also in the world, has recently taken two important steps in the building sector. As the first step, GAMA Holding reached a happy ending concerning the partnership negotiations carried out with General Electric, one of the largest companies in the world, since 2006 Fall. As the second step, GAMA Energy closed a deal of $1 billion in Jordan. |
Tender for the liquor plant will be held on Friday
A former liquor plant site in Mecidiyekoy will be put up for auction in Istanbul on Friday, 25 April, by Emlak Konut Gayrimenkul Yatirim Ortakligi A.S., which is an affiliate of TOKI. Many foreign companies, including Dutch companies as well, are interested in the site. |
İZGAZ Natural Gaz Distribution Co. is put to tender for privatization
www.Turkey-Electricity.com |
Allianz pays $600 mln for majority stakes in two Turkish insurers
German insurer Allianz SE is paying nearly $600 million to raise its stake in two Turkish insurers to a majority, bolstering its position in Turkey's fast-growing and under-insured market. |
National Lottery tender to be held on Q2
A tender for the privatization of Turkey's national lottery is expected in the second quarter of this year, Turkish privatization authority officials said on Thursday. Milli Piyango has 32 percent of market share in Turkey with an annual turnover of 683 million USD and 189 million USD of net profit. |
Korean Tobacco enters Turkish market
The South Korea-based company plans to produce four types of cigarettes in Turkey. The company's entrance in Turkey, just after the sale of cigarette department of Turkey's alcohol and tobacco monopoly (TEKEL) to British American Tobacco, will heat the competition in Turkey's YTL 20-billion market, where 110 billion cigarettes are sold annually. |
Subaru became a partner of Baytur
Fuji Heavy Industries, a Japanese company which is the manufacturer of Subaru-brand automobiles, purchased 10% of Baytur, a company under the Bayraktar Holding, for $5 million. Masatsugu Nagato, Vice President of Subaru, has stated that they have been quite impressed by the performance of Baytur so far, with which they have started working in 1995, and said, “This has been a strategic partnership.” |
IMF predicts Turkey to become world's 15th largest economy
With the adoption of revised national accounts using improved methods of calculation, Turkey's gross domestic product in terms of purchasing power parity (GDP-PPP) will climb to $941.6 billion as of the end of 2008, rendering it the 15th largest economy in the world, the latest forecast in the World Economic Outlook of the International Monetary Fund (IMF) has revealed.
Turkey's gross national product (GNP), on the other hand, is expected to be $748.3 billion for 2008, and this figure will keep it in 17th place among the world's largest economies in terms of GNP. |
Turkey to become a major hub for London Metal Exchange
The London Metal Exchange, the world's number one non-ferrous market, is officially launching its futures trading in steel April 28 and Martin Abbott, the man in charge, has good news for Turkish producers, traders and investors alike.
Turkey is going to be one of the four major hubs for the LME, he told the Turkish Daily News in Istanbul, a city he and his colleagues have become increasingly acquainted with in the last few months. The LME, founded in 1877, has been offering futures contracts for aluminum, copper, nickel, tin, zinc, lead and even plastics up to now. |
Four firms bid for Turkish nuclear power plant tender
Four companies submitted bids on Monday for the construction of a nuclear power plant in a southern province of Turkey, the Anatolian Agency reported.
This will be the first nuclear power plant in Turkey, and will be built near Mersin's Akkuyu township. AECL of Canada, Hochu of Japan, Vinci Corp of France, Suez-Tractabel of Belgium have acquired specifications forms for the tender. The tender for the construction of a 4,000-megawatts of nuclear power plant is scheduled for Sept. 24, 2008. The Turkish Energy Trade & Commitment Corp. will buy the electricity generated at the nuclear power plant for 15 years.. |
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“25-30 foreigners visit Turkey every week to invest”
Every week, 25-30 foreign investors apply to us to invest in Turkey. We continue our operations on them. Turkey will become one of the most preferred countries for global investment, because Turkey has this potential." |
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Turkey, Kuwait establish partnership for construction projects
Turkey and Kuwait are set to become strategic partners after a deal aiming to collaborate in construction projects, a move to draw foreign capital to Turkey. Turkish and Kuwaiti officials signed a Memorandum of Understanding (MoU) on Wednesday to work together on mass housing and residential estate projects. "Kuwait will start investments in Turkey with a project that would not worth less than 1 billion USD," TOKI officials said. TOKI plans to build half a million residential estates until 2012. |
Greek Frigoglass to buy Turkey's SFA Cooling
Greece's Frigoglass, the world's largest maker of beverage refrigeration equipment, said on Wednesday it has agreed to buy a majority stake in Turkey's SFA Cooling as part of its expansion plans. Frigoglass has said it would move into a new geographic region in 2008 to tap rapidly developing markets after expanding into regions such as China, before the 2008 Beijing Olympics, and India. |
International Diamond Laboratories to set up facility in Istanbul
International Diamond Laboratories (IDL), a Dubai government initiative launched last year to develop services for the diamond trade, will set up facilities in Saudi Arabia and Turkey to provide certification services in those two countries. At present it has laboratories in Dubai, Mumbai and Antwerp, the three key diamond markets. IDL provides diamond traders and jewellers with quality reports and certificates of authentication of polished diamonds. |
Turkey exceeds 1 mln in vehicle production
The production of motor vehicles in Turkey hit 1.1 million in 2007, a 11.3 percent increase over the preceding year and 16th highest worldwide.
According to International Organization of Motor Vehicle Manufacturers’ (OICA) 2007 production statistics, 73.1 million motor vehicles were produced last year worldwide. Of these, 53.04 million were automobiles and the remaining 20.06 million were commercial vehicles. The rise in total production amounted to 7.8 percent over 2006. |
Turkey ranks second among textile suppliers of EU
World News - Turkey ranked the second among countries which supply textiles and clothing to EU countries, according to EU's official statistics institution Eurostat.
Turkey increased its market share in EU to 16.1 percent in 2007 from 15.8 percent in 2006, and ranked the second in suppliers list after China which has a market share of 34.6 percent.
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As the biggest company in the MEMA (Middle East, Africa, and Mediterranean) region, HP Turkey maintains a consistent growth rate, the number of its employees, turnover, and business potential. In the first half of 2007, HP Turkey exceeded expectations and achieved a 116% growth in all product and service groups. The company’s total revenues reached 378.1 million USD in the aforementioned period.
HP’s market share of the IT market in Turkey, which IDC reports to have reached 4.2 billion USD in 2006, is 13%. |
Turkish economy hits record $651 billion in 2007
Turkey's gross domestic product (GDP) in 2007 reached $651 billion, in light of a new calculation system, Deputy Prime Minister Nazım Ekren said in Ankara. Speaking at a meeting organized for the 11th anniversary of the Competition Authority, Ekren said national accounts due to be announced Monday will show that per capita income was about $9,000. |
Forbes: "Turkey invites bids to build nuclear plant"
Forbes - Turkey’s energy minister on Monday invited bids for the construction of the country’s first nuclear power plant, which is to be built on the Mediterranean coast despite strong opposition from environmentalists. |
Hyundai Turkey Plant has done the biggest export increase in the automotive sector with 71 % and gained approximately 360 million USD. In 2006 Hyundai Assan exported 34.630 cars and light commercial vehicles but just in first 6 months of 2007, this number reached up to 32.158 units. |
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Foreign investors eye Turkish cement maker Goltas
Bloomberg - Foreign investors are interested in buying Goltas, a Turkish cement maker controlled by the state banking regulator, after its profit jumped 180 percent between 2004 and 2006, daily Vatan reported. Goltas, which has a market value of $290 million, may attract up to $800 million based on what other cement makers have sold for, said Hidayet Nalcaci, chairman of Goltas. |
Turkey sets deadline for bids to build first nuclear power station
Reuters - Turkey has set a deadline of Sept. 24 for bids in a tender to build the country's first nuclear power station, a statement in the Official Gazette said on Monday. The power station will be built at Akkuyu near Mersin on the country's Mediterranean coast, the Official Gazette said. The plant will have a capacity of 4,000 megawatts, plus or minus 25 percent. |
Bosch invests in Turkey because of;
• Productivity and quality comparable with other locations (EU)
• Highly motivated and qualified workforce
• Flexible manufacturing and machinery utilization
• Good supplier and service provider structure with potential
• Still competitive labor cost
• Well known brand with high reputation, potential in the local and nearby countries |
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Turkey and Turkmenistan agree to boost economic cooperation
Turkey’s President Abdullah Gul and visiting Turkmen President Gurbanguli Berdymukhamedov expressed their mutual will for improving bilateral economic and commercial relations between the two countries. Despite the absence of a clear public statement by the two presidents concerning probable cooperation on the transportation of Turkmen gas to European markets through Turkey, Berdymukhamedov and Gul, in a joint declaration released following their meeting, cited "energy" as one of the fields in which the two countries would seek opportunities to increase bilateral cooperation. |
Turkish exports to regional countries up by 35.5% in 2007
Turkish exports to neighboring regional countries rose by 35.5 percent in 2007 and reached 40.5 billion USD in 2007, according to figures released by the Undersecretariat for Foreign Trade.
Exports to the seven neighboring countries grew 28.5 percent to reach 11.1 billion USD, with Iraq getting biggest share with 2.8 billion USD. Exports to 45 regional countries rose to 29.4 billion USD to mark an increase of 38.4 percent and Russia was the biggest buyer of Turkish goods in 2007. The total amount for January 2008 was 945.7 million USD. |
Microsoft Turkey, started its marathon in 1993 with six people and today it has close to 300 employees.
Microsoft MEA (Middle East and North Africa) covering 79 countries is also located in Turkey, and Microsoft continues to contribute to the efficiency and the employment of the country with its ecosystem of 7000 business partners.
With its successful human resources programmes Microsoft was among the ten most preferred companies by candidates in 2006 in Europe; and in the Hewitt research, it was named the “Best Company” in Turkey and the region. |
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TUGIK: “foreign investments are increasing”
Chairman of TUGIK (Confederation of Young Turkish Businessmen Sesli, who stated that Turkey is passing through a critical period and seem to be headed to a point of economical loss as in 2007, said “Despite the negative economical outlook, we are hopeful for the year 2008; Turkey has a very bright future”. |
Turkey has anchored in the first 20
According to YASED’s (International Investors Association) report, an investment inflow between $15-20 billion is expected. Turkey, which was the 16th in the first 20 to draw direct foreign investments in 2006 is expected to be in the first 20 in the year 2007 as well. |
In Turkey, all major working fields of GE have existed; mostly GE has operations in the fields of energy, aircraft engines, health technology, consumer goods, industrial products, water technology, security equipment, project financing, media and engineering. |
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Siemens Turkey to invest EUR 1bn over next four years
General manager of German Siemens’ Turkey unit, Huseyin Gelis, says that the company will invest EUR 1 billion in Turkey operations including a EUR 200mn plant. 45% of the overall investment spending will be directed for Siemens’ energy operations, one of Siemens’ 3 core businesses next to industrial systems and medical diagnosis tools, according to Gelis. |
450.000 motors will be manufactured per year
Oyak Renault said the project involving automobile motors manufacturing will be realized this summer and the facility which is being built in Bursa will have a production capacity of 450.000 motors per year. (REUTERS) |
In Turkey, Taisei is the leader partner in the construction of Marmaray, one of the major transportation infrastructure projects in the world at present. This budget is formed as a part of the basis for the loan agreement between Japan Bank for International Cooperation (JBIC) and the Republic of Turkey. In 1999 the budget was 2.6 billion US dollars. The budget will be updated to reflect actual contract values. |
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World Bank report: "Turkey is moving forward"
A recent document released by the World Bank on its Web site details positive developments in Turkey's economy, education, science and healthcare systems. The assessment, titled "Turkey's Development Results," noted that Turkey is making progress in its development across a range of sectors, including modernization of the cadastre and land registry systems, increased efficiency within the energy sector and the assistance provided to growing businesses for accessing needed capital. "The country as a whole is moving forward, and it is seeing results," the bank stated. |
Metro Group plans to open 10 large stores in Turkey
World News - Metro Group Executive Board President Eckhard Cordes said on Tuesday that they were planning to open 10 large stores in Turkey by investing approximately 100 billion euro. Metro Group CEO Cordes made public the balance sheet of Metro Group in 2007 at a news conference. Cordes said Metro AG Executive Board considered Turkey a magical country recording a very rapid growth rate and having an attractive economy. |
Ford Otosan is a joint venture between Ford Motor Company and Koç Group of Companies. Established in 1959 as the first automotive company in Turkey, Ford led the way in the automotive industry by producing the first Turkish automobile, the Anadol in 1969, and establishing the first engine manufacturing plant in 1983. Current capacity is 300.000 vehicles per annum in its Kocaeli and Inonu plants, rated respectively, as the "Best Vehicle Assembly Plant" and "Best Powertrain and Engine Plant" within the Ford of Europe Organization. |
Global Yatirim Energaz offers highest bid for Ankara natural gas grid
Global Yatirim Holding won the auction for a gas-distribution network in Ankara with a $1.61 billion bid Friday.
Global and its partner, Energaz, beat seven companies including Spain's Gas Natural SDG and Turkey's Calik Holding to buy Baskent Dogalgaz Dagitim, a network that sold 3.16 billion cubic meters of natural gas last year, reported Bloomberg. |
Turkey's competition authority approves sale of Migros shares
Turkey's competition board approved the sale of a part of the shares of Migros, the country's largest retail chain, to Moonlight Capital S.A.
Moonlight Capital S.A., controlled by London-based private equity firm BC Partners, agreed with Turkey's Koc Holding last February to buy 50.8 percent of the Migros shares for 3.2 billion euros. |
Coca-Cola
By December 2007, CCI will be operating with more than 4.128 employees in 12 bottling plants dispersed throughout this region, where the total population has reached over 130 million. CCI, whose operations in Turkey employ 2,197 workers, now offers its products to consumers from more than 300,000 sales points. |
A huge investment in the iron and steel industry with the Russian partner
Magnitogorsk Iron and Steel Works (MMK), a Russian steel producer, and Atakas Group are establishing an iron and steel plant in Iskenderun with a $1.4 billion investment. The foundation stone of the plant was laid in a ceremony held the day before yesterday. |
Vodafone Turkey CEO Vitai: "We have long-term plans for Turkey"
Vodafone Turkey gained 3 million new subscribers last year and obtained a 26 percent growth. The number of Vodafone subscribers in Turkey reached 16.1 million, meaning Turkey has climbed to rank second after Egypt in terms of the increase in the number of subscribers. |
HSBC Bank; The main motivators behind this investment strategy are the potential for economic growth; the young, dynamic population in Turkey; the growth opportunities in the banking sector, accelerated developments in recent years due to the EU adaptations and successful returns on previous investments since early in the 1990s. The bank is committed to its investment in Turkey, whose economy will soon grow to be one of the largest. |