Why Erdogan Aims to Seize Stake in No. 2 Turkish Bank: QuickTake
By Asli Kandemir
February 17, 2020, 6:34 AM EST
Turkish President Recep Tayyip Erdogan has already brought the central bank under his control, ousting the governor and installing a successor to drive interest rates lower and try to turbo-charge economic growth. Now he’s making a play for the country’s biggest private lender, Turkiye Is Bankasi AS, as he pushes to unleash credit in the economy. The problem? Isbank is part-owned by the main opposition party, not that that’s likely to get in the Turkish leader’s way.
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