ECONOMY

Turkey's Ziraat Bank reaches 100 international branches

Late last year Turkish state lender Ziraat Bank hit the landmark of 100 international branches in 18 countries, the bank announced on Friday.

Two new branches in Montenegro, in the cities of Bar and Budva, took the bank over the top, it said in a statement.

Ziraat branches serve not only as banks, but also provide insurance, leasing, portfolio management, payment, and finance technology services, said the bank.

Ilker Met, the head of Ziraat's enterprise architecture group, stressed that these branches help spur trade between Turkey and other countries.

"We try to be part of investments to Turkey from where we're active," he added.

He also said the last time a Turkish bank offered services in Bar, Montenegro was back in 1878.

Ziraat has the most branches abroad in Bosnia-Herzegovina, with 33, followed by Azerbaijan with 13, the Turkish Republic of Northern Cyprus with eight, and Germany and Turkmenistan with seven apiece.

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