OREANDA-NEWS. September 12, 2013. Denizbank, as part of the Sberbank group, the region's largest banking institution headquartered in Russia, today announces that it has formed a strategic collaboration with MoneyGram, a leading global money transfer company.

DenizBank will now be a part of the MoneyGram network and will become the biggest agent of MoneyGram in Turkey following the agreement. 

MoneyGram has a comprehensive network with more than 300,000 agent locations in 198 countries, and the collaboration will allow DenizBank to make a fast and secure money transfer service accessible for its customers. The agreement will also significantly increase MoneyGram’s footprint in Turkey.

Commenting on the results Sergey Gorkov, Deputy Chairman of the Board, said:

“We are delighted to announce this strategic collaboration with MoneyGram. This is a significant agreement for Denizbank and represents another step in developing the international footprint of the Sberbank group by optimising MoneyGram’s global network. This agreement will allow Denizbank to enhance its proposition while maintaining its commitment to providing greater accessibility and enhanced service levels to all its customers.”

In September 2012, Sberbank completed the acquisition of DenizBank AS which is ranked 5th among private and 9th among all Turkish banks by consolidated total assets.