Deutsche Bank in Turkish privatisation

Deutsche Bank in Turkish privatisation


Deutsche Bank's executive for Turkey said the Bank would take an active part in privatisation

       Deutsche Bank's executive general for Turkey Mete Basol, said the Bank would take an active part in the privatisation operations carried out in Turkey.
       Basol noted that with its $850 billion balance, the Deutsche Bank was one of the big players in global economy. "We will be making use of our balance size in Turkey. We will be working with the major Turkish firms as well as the multinational corporations active in Turkey. We will focus on our credit relations with such firms," Basol said.
       Basol was interviewed by Milliyet and told our reporter that Deutsche Bank planned to concentrate on investment banking. "There is great need for capital in both public and private sectors in Turkey," ha said. "Deutsche Bank has very efficient distribution channels on the global scale. We plan to increase our part in import, export and administration financing in Turkey.
       Basol said the government was undertaking the task of curing a disease that has long been chronic. "The disease has taken hold of all the organs, so it is a difficult treatment. It calls for persistence, the implementations of technocrats are slowly yielding results. It is hardly a disease which could be cured within a matter of months, the change needed is not merely statistical. Ingrown habits need changing, new investment plans are needed, and long-term projects. It is a gradual change," the Deutsche Bank's Turkish executive said.
       Basol also said that Deutsche Bank was the bank in highest risk in Turkey. "The Deutsche Bank not only undertakes major projects in the private sector but also takes part in the Treasury's bond export borrowing schemes with magnificent figures," Basol said.
       He also pointed out to the fact that Deutsche Bank had so far not issued an official statement concerning a merger with Akbank. "It has been said that there has been negatiati9ons of a co-operation. Deutsche Bank has enormous possibilities world-wide, and is ready for co-operation as long as mutual interests are involved," Basol said.

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