Posted on 01 August 2011
1 August 2011 – Dubai based G Capital, in conjunction with a local Turkish company, Gurmen Group, has purchased Adabank from TMSF (Turkey’s Savings Deposit Insurance Fund) for a reported 75 Million USD. Talking about the purchase, G Capital’s COO, Mr David Haigh, said “The stability that Turkey offers is to be found in neither Europe nor the USA” before going on to say “We have been monitoring and analyzing the country for the last 2 years. The existence of a strong banking system in Turkey was vital in our decision making”. G Capital is backed by one of the biggest Gulf investment banks which has an extensive portfolio across four continents. Source: Invest in Turkey.