Odeabank opens first branch in Türkiye

Milliyet - Having been granted a banking license in Türkiye late last year, the Lebanese lender Odeabank opened its first branch in Istanbul’s Maslak, one of the main business districts of the country’s financial capital.

The Turkish subsidiary of Lebanon’s largest financial group, Bank Audi, Odeabank will offer retail banking services in its head office in Maslak and other soon-to-be-opened branches in Izmir and Ankara, as well as in Istanbul.

Unscathed by the global financial crisis, Türkiye’s highly profitable banking sector is foreseen to sustain its double digit growth for the next ten years, expanding with new players like Japan’s Bank of Tokyo-Mitsubishi UFJ (BTMU) applying for an operating license and Russia’s Sberbank buying local Denizbank’s stakes for a way in.