QNB Group, a major financial institution in the MEA, says it has completed the acquisition of 99.81 percent stake in Finansbank AS in Turkey.
This transaction is described as a significant milestone in QNB Group’s strategy of international expansion.
With the addition of Turkey as a new market and one of the leading Turkish banks to its network, QNB Group further extends its international presence and will be able to increasingly benefit from the rapid development of trade and the strengthening of economic ties between Turkey and the Middle East in general and between Qatar and Turkey in particular.
This is also stated to reflect QNB Group’s confidence in the long-term prospects of the financial sector and economy of Turkey.
Finansbank is the fifth largest privately owned universal bank in Turkey by total assets, customer deposits and loans. The bank has organically grown into a major financial institution with a proven and experienced management team.
With a nationwide distribution network of over 620 branches and more than 12,000 employees, it has more than 5.3 million active customers.
As of March 31 March 2016, Finansbank has assets worth $32 billion, $21.8 billion in loans and $17.3 billion in deposits, and total equity amounted to $3.8 billion as per international financial reporting standards.
QNB Group’s CEO Ali Ahmed Al-Kuwari stated: “This transaction is a breakthrough in QNB’s vision to becoming a Middle East and Africa Icon by 2017.”
QNB Group currently owns 99.81 percent of Finansbank and will launch a mandatory tender offer (MTO) in Turkey for the remaining 0.19 percent.
Omer Aras, chairman and group CEO of Finansbank, said: “The acquisition signifies a thrilling milestone for Finansbank. We are extremely excited to enter into a new era and be part of the QNB Group.”
QNB completes acquisition of 99.81% stake in Turkish bank
QNB completes acquisition of 99.81% stake in Turkish bank
Dubai Shopping Festival’s sporting events turn city into hub for outdoor action
The Dubai Shopping Festival is raising the bar this winter with a high-impact sporting calendar that runs throughout December and January, transforming the city into a hub for elite competition, community fitness and outdoor action.
From professional basketball to baseball games, polo tournaments, half marathons, and horse racing, the festival brings together athletes, families and spectators for a dynamic winter season of sport. The diverse lineup of events strengthens DSF’s role in supporting Dubai’s active lifestyle, showcasing world-class sporting venues and encouraging community engagement during the city’s peak outdoor season.
Key sporting events taking place during DSF:
Dubai Racing Carnival
- Race days: Jan. 2, Jan. 9 and ongoing dates until March 13.
- Location: Meydan Racecourse
The flagship winter racing season features international horses and top jockeys.
More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/dubai-racing-carnivaland https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/dubai-racing-carnival-festive-friday
Silver Cup
- Date: Jan. 10-Jan.24
- Location: Al-Habtoor Polo Resort and Club
Silver Cup, part of Dubai’s prestigious polo calendar, sees six of the world’s best teams go head-to-head in a 20-goal handicap.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/silver-cup
Spinneys Dubai 92 Cycle Challenge — Build-Up Ride 4
- Date: Jan. 4
- Location: Al-Qudra Cycle Track
The last of the Spinneys Dubai 92 Cycle Challenge Build-Up Rides is designed to help cyclists build their stamina ahead of the ultimate challenge.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/spinneys-dubai-92-cycle-challenge-build-up-ride-4
Hood to Coast Dubai 2026
- Date: Jan. 10
- Location: Al-Marmoom Desert Conservation Reserve
Hood to Coast Dubai challenges teams to conquer a series of relay segments through expansive desert trails, with each runner taking on their leg before passing the baton.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/hood-to-coast
Skechers Performance Run — Race 4 (16k/10k/5k/3k)
- Date: Jan. 10
- Location: Meydan
Enjoy a fun day out for the whole family at this popular community race offering various distances, where participants can run along the traffic-free roads of Meydan.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/skechers-performance-run
Marina Home Dubai Creek Striders Half Marathon 2026
- Date: Jan. 11
- Location: Dubai Creek Golf and Yacht Club
One of the largest races of its kind in the UAE and the Middle East, this half marathon will mark its 23rd edition in 2026.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/dubai-creek-striders-half-marathon
A citywide sporting season
With events spanning elite international fixtures, community runs, polo tournaments, multi-distance races, trail challenges and recurring racing nights at Meydan, DSF strengthens Dubai’s winter season for sport, well-being and outdoor experiences.
