BBVA completed the acquisition of a 9.95% stake in Turkiye Garanti Bankasi from Dogus for $913m.

BBVA, a Spanish multinational financial services company, completed the acquisition of a 9.95% stake in Turkiye Garanti Bankasi, Turkey’s largest bank, from Dogus, a private-sector conglomerate in Turkey, for $913m. “The long-term growth prospects for both Garanti and Turkey continue to be very positive despite the current uncertainties. This is a great opportunity to increase our stake in one of our key franchises under very attractive terms,” Carlos Torres Vila, BBVA Chief Executive Officer.