Sberbank may take part in the purchase of 20,85% shares of Turkish Garanti Bank for the American group General Electric (GE), Reuters news agency reported yesterday, citing a source close to the negotiations. Sberbank’s representatives declined to comment, request to GE remained unanswered.

participation of Sberbank in talks – rather an initiative GE, says top manager of the bank.

GE has exposed on sale of stake in Turkish Bank, as it reduces its financial unit.

Turkish market interest Sberbank, which is necessary to go abroad, said his manager: otherwise, by 2014 the bank will not miss the domestic market for asset allocation. Turkey is a list of countries where the state bank intends to attend, says a source close to its supervisory board. In the development strategy of the Savings Bank until 2014 says that the bank primarily focused on the acquisition of assets in the CIS and Eastern Europe. In other countries, it still prefers to work through the missions, both in China and India. By 2014 5.7% of net profit Sberbank should get outside Russia, including through additional acquisitions, according to his strategy.

Sberbank offered admission to the Turkish market is not cheap: based on the current capitalization of the share of Garanti Bank GE is worth $3.6 billion Garanti Bank – the second largest private bank in Turkey with assets of approximately $65 billion

himself out of the Savings Bank to the growing and capacious Turkish banking market is very interesting, discusses the vice-president, commercial operations, “Deutsche Bank” Sergey Sovereign: “If you do not consider buying only as portfolio investment, it is difficult to monetize.” Package Garanti Bank is small and the current quotations are expensive, said an investment banker, was cooperating with the Savings Bank: “To buy, you must have an idea of how to increase the share to control».

Garanti Bank GE Capital controls and Turkey’s Dogus Holding (30,5%) – together they have 51.4%, other 48.6% of the shares traded on the Istanbul Stock Exchange.

With a free float ratio largest shareholders probably governed by the agreement, believes the team leader of international projects “Vegas-Lex” Yury Bortnikov, in this case to influence management decisions and have a representative on the board of directors, the Savings Bank would not necessarily have a controlling stake.

Yesterday, stock quotes Sberbank in RTS went up by 2.7% to $3, Garanti Bank shares fell 1.6% to $4,13.

’s central banks in Turkey and Russia representatives of Garanti Bank and Dogus Holding to the request “Vedomosti” did not respond.

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