Turkey’s Finance Minister said the government wants more foreign lenders to apply for operating licenses as the country’s pool of potential bank acquisition targets shrinks.

“We’re interested in encouraging new entrants,” Mehmet Simsek said at a conference in Istanbul yesterday. “We will look at new applications because the more competition and innovation, the better for the Turkish corporate sector.”

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.