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Home | Citi sells stake in Akbank |
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Citi sells stake in Akbank
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- May 28, 2012
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Citigroup has sold its 10% stake in Turkey’s Akbank. Total proceeds from the divestment should be around $1.15 billion at the current exchange rate, resulting in an after-tax loss of approximately $243 million in the second quarter. The transaction is expected to generate approximately 23 basis points of Tier 1 Common capital under Basel III. [...]
- Read more at:http://www.bankingtimes.co.uk/2012/05/27/citi-sells-stake-in-akbank/
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