Emirates NBD completed the acquisition of Denizbank from Sberbank for $2.8bn.

Emirates NBD, one of the largest banking groups in the Middle East, completed the acquisition of Denizbank, a large private bank in Turkey, from Sberbank, a state-owned Russian banking and financial services company, for $2.8bn. The transaction will help Emirates NBD diversify its business and establish itself as a leading bank in the region, the bank’s vice chairman Hesham Abdulla al-Qassim said.