BBVA Hires Adviser to Review Insurance Partnership in Turkey

BBVA SA is reviewing its insurance partnership in Turkey as its current agreement with Eureko Sigorta AS is set to expire, according to people familiar with the matter.

BBVA is considering various options including a new partnership for its local unit Turkiye Garanti Bankasi AS, the people said, asking not to be named discussing private information. The process is at an early stage and BBVA could also decide to renew the existing partnership, the people said. The Spanish bank has hired Alvarez & Marsal Inc. to advise it on the matter, they added.

“We are shaping our roadmap in ...