Spain's giant bank voices confidence in Turkish economy

By Gokhan Ergocun and Muhammed Canik

ANKARA

Spanish prominent private lender and leading shareholder in Turkish private bank Garanti said its commitment to Turkey and Garanti has not changed.

"We remain comfortable with our current position in the entity," BBVA told Anadolu Agency.

The Spanish bank has 49.85 percent share and 11 percent of its total assets in Garanti.

BBVA, founded in 1857, is the largest financial institution in Spain with its business volume. It has presence in several countries, including Mexico, South Africa, the U.S. and Turkey.