Spanish banking giant: Turkey is a long-term interest

ANKARA (AA) – Spanish bank BBVA, owner of a large stake in one of Turkey’s biggest banks, sees the country as a strategic, long-term market, a top official of the banking giant said Saturday.

Carlos Torres Vila, the bank’s CEO, said that Turkey retains BBVA’s interest as an important market, in line with its growing interest here in recent years, suggesting that the July 15 coup attempt had only a minor effect on its assessment of the country.

“Turkey is one of the geographical regions where the BBVA Group is most successful. Our interest in Turkey is strategic and long-term. Our priority is to ensure that Garanti Bank continues its operations in the best way,” Vila said.

Currently BBVA has a 39.9 percent share in Garanti Bank, one of the largest private banks in Turkey. BBVA has been the largest single partner of the bank since November 2014, after it purchased 14.89 percent of Garanti from Turkey’s Dogus group, in addition to its previous 24.9 percent.