Russia's Sberbank purchases Turkey's Denizbank

The ailing Franco-Belgian bank Dexia S.A. has finalized the sale of its Turkish lender Denizbank A.S. to Russia's Sberbank, Market Watch reports.
In a press release, Dexia said it had completed the sale for around 3.02 billion euros ($3.90 billion). Dexia said it would suffer a loss of EUR744 million on the sale in the third quarter, and that its Core Tier 1 capital will increase by EUR638 million, Market Watch reports.
The Denizbank has subsidiaries in Austria and Russia. It has posted a net profit of 131.2 million for the second quarter, by 4.4% less than in the last year.