IFC, AMC and EBRD completed the acquisition of Odea Bank for $351m.

International Finance, IFC Asset Management Company and European Bank for Reconstruction and Development completed the acquisition of Odea Bank, a commercial banking services provider, for $351m. “We welcome the EBRD and IFC, as well as other investors, as our new partners in Odea Bank. We are looking forward to a new phase of growth for Odea Bank in the highly promising Turkish banking market. This capital increase represents the largest capital increase in the Turkish banking sector over recent years and is a testimony to Bank Audi’s successful greenfield investment in Turkey. Odea Bank is a key pillar of Bank Audi’s future growth and we continue to be committed to its future development,” Samir Hanna, Odea Bank Chairman.