Diners Club and Alternatifbank (ABank) have inked an agreement to form a new Diners Club International issuing franchise in Turkey. The agreement makes ABank the exclusive Diners Club card issuing franchise in Turkey.
The joint venture will offer cardmembers in Turkey a compelling new credit card choice that features a host of privileged offers and benefits, including access to more than 550 Diners Club airport lounges globally.
A globally-recognized product, the Diners Club card is accepted in more than 185 countries and territories, in millions of merchant locations, and at more than 1 million ATMs and cash access locations.
ABank was established in 1991 and has been listed on the Istanbul Stock Exchange since 1995. Commercial Bank became the majority shareholder in ABank in 2013 holding a 74.24% stake, following the acquisition of ABank shares of 70.84% from the Anadolu Group and 3.40% through a public tender offer. Anadolu Group remains a significant shareholder retaining 25% of shares in ABank.
ABank is a mid-size Turkish bank that predominately serves medium-sized companies through a country-wide network of 64 branches covering 85% of Turkey’s economic regions. ABank provides commercial/corporate banking services along with Retail Banking, targeting the “mass affluent segment” in terms of customer profile with tailor made products.
Commercial Bank has total assets of QAR 115.7 billion as at 31 December 2014.
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