DD Mortgage starts operations in Istanbul
12 June 2008
Mortgage lender DD Mortgage, a joint venture between local Dogan Group and Deutsche Bank, will open its first branch in Istanbul next month. DD Mortage plans to open three branches this year, all in Istanbul.
The company plans to grant housing loans of up to TRY 150 million in 2008 and targets to increase this figure to TRY 4.5 billion until 2012.
The company plans to open six branches by the end of 2009 and to operate in 12 Turkish cities, including Ankara , Izmir , Bursa , Adana , Antalya until 2015.
Dogan Group and Deutsche Bank hold 41% and 49% stakes in DD Mortgage, respectively.