By Jane Croft and Peter Thal Larsen
Friday, January 19, 2007
 
Standard Chartered, the emerging markets bank, is the frontrunner to buy medium-sized Turkish lender Oyak Bank in a deal that could be worth up to $2bn (£1bn).

StanChart has been in talks with Oyak Bank for several months and people familiar with the deal said no formal agreement was imminent.

However, the talks are a sign that StanChart continues to pursue deals in emerging markets following the elevation of Mervyn Davies to chairman. He has been replaced as chief executive by Peter Sands.

StanChart has made four acquisitions in the past two years.
 
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