G Capital’s parent company GFH has a long track record in establishing and operating financial institutions across the MENASA region. GFH has played a key role in establishing Solidarity (Bahrain 2003) Arab Finance House (Lebanon 2003), First Leasing Bank (Bahrain – 2004), Khaleeji Commercial Bank (Bahrain – 2005), Asian Finance Bank (Malaysia – 2006), Qinvest (Qatar – 2006) and First Energy Bank (Bahrain -2008).
“We are very excited about this opportunity and look forward to working with our new partner, the Gürmen Group, as well as the Turkish authorities to commence operations in the Turkish banking sector. Turkey is a key market for us and we believe that this acquisition will serve as a platform for further co-operation between the GCC and Turkey,” Esam Janahi, Executive Chairman of GFH, said.
“I’m very pleased with this achievement as we have been working to acquire a bank in Turkey for more than a year. Turkey is a growing market with many good investment opportunities, and this acquisition should create substantial value for our investors and shareholders,” Hisham Alrayes, Managing Director of G Capital, added.
“I am very enthusiastic about this opportunity as the entry requirements for new banks wishing to operate in the Turkish Banking sector are very high. I am also extremely pleased with our new partner G Capital and would like to thank the team which successfully led the transaction and helped to establish our partnership,” a prominent Turkish businessman Remzi Gur, Chairman of Gürmen Group, said.
G Capital is based in the Dubai International Financial Centre (DIFC) and is a DFSA regulated entity. G Capital, which was formerly known as Injazat Capital, has a recognised track record in corporate advisory, fund and investment management.
Gürmen Group is a leading Turkish conglomerate working in a number of sectors and it is one of the largest menswear manufacturers’ and retailers in Turkey having established menswear brands such as RAMSEY and KIP in over 36 countries. Gürmen Group also has interests in livestock and dairy farming besides investing in agriculture, construction and energy.