Finance

Turkey’s Garanti BBVA Appoints Mahmut Akten as CEO

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By Inci Ozbek

August 2, 2024 at 4:35 PM UTC

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The Board of Turkish lender Garanti BBVA has chosen Mahmut Akten to replace Recep Bastug who has served as CEO since 2019. Akten, currently the Executive Vice President in charge of corporate, investment banking, and global markets, will also be BBVA’s Turkey Country Manager. Spanish lender Banco Bilbao Vizcaya Argentaria SA holds an 86% stake in Garanti BBVA.

The appointment is pending legal procedures and approval from the Banking Regulation and Supervision Agency.