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The Industrial and Commercial Bank of China has completed its acquisition of a 75-percent stake in Turkish bank Tekstilbank.
中国工商银行已完成对土耳其银行75%股权的收购。
Tekstilbank mainly caters to small and medium-sized businesses, as well as retail customers.
The purchase of the majority stake is the first Chinese banking foray into Turkey.
ICBC says it is also prepared to make a full purchase of Tekstilbank if the Turkish government will allow it.
ICBC is now active in 42 countries and regions around the world.
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