Standard Chartered has bought the bank Credit Agricole Yatrim Bankasi Turk (“CAYBT”), a fully-owned subsidiary of Credit Agricole Corporate and Investment Bank.
Announcing the move, the CEO of Standard Chartered for the UK and Europe noted that Turkey was increasingly important to the bank as the country was increasingly a regional centre for the Middle East.
This fits closely with the view of many international businesses, and of the FCO itself, which see Turkey in general and Istanbul in particular as a hub for the wider region. That’s why it’s part of my job to oversee trade and investment work in Central Asia, the South Caucasus and anywhere Turkish companies are active.
Standard Chartered has been around for more than 150 years. With 1,700 offices in 70 markets and around 87,000 staff, they are a worldwide organisation. I look forward to working with them in Turkey.