Deutsche deepens cross- border presence
The German dealer acquired Garanti Bank's Turkish custody and sub-custody services to non-resident financial institutions. This also encompasses services to institutional investors.
Acquired services include clearing and settlement of Turkish securities, asset servicing and tax services, as well as Turkish lira cash and liquidity management services. The deal also gives the German bank ownership of approximately TL25 billion ($19.4 billion) in assets under custody.
The unit will be merged with
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