ISTANBUL (Reuters) – The supply by Spanish lender BBVA to purchase the remainder of Turkey’s Garanti Financial institution exhibits the boldness in Turkey’s economic system, President Tayyip Erdogan mentioned on Wednesday.
Erdogan was talking in a information convention alongside Spanish Prime Minister Pedro Sanchez.
“The statements made by the Spanish financial institution BBVA are a concrete signal of the belief in Turkey,” Erdogan mentioned.
BBVA supplied on Monday to purchase the remainder of Garanti for as much as 2.25 billion euros ($2.6 billion), benefiting from a slide within the lira and elevating fears in Turkey that foreigners would possibly snap up property at cut price costs.
Reporting by Tuvan Gumrukcu and Ali Kucukgocmen; Modifying by Alex Richardson