Dubai – Mubasher: Emirates NBD has stated that it is “closely monitoring” the economic situation in Turkey.

According to Reuters, the Dubai-listed bank declined to comment on reports about the renegotiation of a $3.2 billion deal to acquire Turkey’s Denizbank from the Russian state-owned Sberbank.

The drop in the Turkish currency would offer Emirates NBD an opportunities to cut more than a quarter of the deal’s consideration, economists said.

In May, the Emirati banks signed an agreement to acquire the 99.85% stake of Sberbank in Denizbank.