BANKING - MIDEAST MONEY-Gulf banks eye European rivals' Middle East assets - Eyes on Turkish banks

www.reuters.com - DUBAI, June 20 (Reuters) - As struggling European banks scale back their worldwide operations, cash-rich Gulf lenders see a chance to expand by snapping up the Middle East assets of European rivals at attractive prices.
After years of building operations in the fast-growing Middle East and North Africa region, European lenders are shrinking back due to a crippling debt crisis at home and the need to raise capital to meet regulatory requirements.
Gulf banks are keen to seize an opportunity as profitable businesses from Turkey to Egypt have been put on the block by European banks at a time when valuations are near multi-year lows due to the volatility in financial markets. (source)

BANKING - QNB makes higher offer for Dexia’s Denizbank

www.gulf-times.com - Qatar National Bank has made a higher bid for Denizbank, the Turkish unit of stricken Belgian lender Dexia, after earlier talks stalled over price, four sources familiar with the matter said.
“The bid has been re-activated, and is on the table,” said one source. “The new offer is closer to what Dexia is expecting,” he added, saying that QNB’s original offer had been dismissed as too low.

The Gulf bank quickly has emerged as the most likely buyer, another source familiar with the matter said yesterday.
“The process is ongoing. Whether it happens or not, it will take a long time. The bid has gone up and down,” the person added.  (source)