Türkiye İş Bankası

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Türkiye İş Bankası A.Ş.
Type Bank
Traded as BİST: ISATR
BİST: ISBTR
BİST: ISCTR
LSETIBD
Industry Finance and insurance
Founded 1924
Founders Mustafa Kemal Atatürk
Headquarters Isbank Tower 1, Levent, Beşiktaş, Istanbul
Number of locations 1,184 offices[1]
Area served Worldwide
Key people Ersin Özince (Chairman)
Adnan Bali (CEO)
Products Financial Services, credit cards, consumer banking, corporate banking, investment banking, mortgage loans, private banking
Revenue Increase Turkish lira symbol 8x10px.png 12.081 billion (2011)[2]
Operating income Increase Turkish lira symbol 8x10px.png 3.298 billion (2011)[2]
Net income Increase Turkish lira symbol 8x10px.png 2.667 billion (2011)[2]
Total assets Increase Turkish lira symbol 8x10px.png 183.935 billion (2011)[2]
Total equity Increase Turkish lira symbol 8x10px.png 21.199 billion (2011)[2]
Employees 24,667[2]
Subsidiaries
Website www.IsBank.com
Footnotes / references
"Turkey's Bank"

Türkiye İş is Turkey's first public[3] bank and premiere national financial institution, ranked 102nd in the “Top 1000 World Banks” survey of Financial Times' The Banker and 371st in the Forbes Global 2000 lists as of 2008, with a gross profit for 2006 TRY 2,540 million and USD 6.8 billion in Tier I Capital, as defined by Basel’s Bank for International Settlements.

İşBank's world headquarters in Levent, Istanbul

The bank operates 1,011 branches domestically, giving it one of the largest branch networks in Turkey. İşbank's international network comprises one branch in the United Kingdom,[4] one branch in Bahrain, 13 branches in the Turkish Republic of Northern Cyprus, a financial subsidiary in the Republic of Ireland (İş Dublin Financial Services plc), and a banking subsidiary in Germany (İşbank GmbH), with 11 branches in Germany and one branch each in the Netherlands, France and Switzerland) as well as representative offices in Shanghai and in Cairo.

History[edit]

The inception of the country's first truly national bank following the promulgation of the Republic dates back to 26 August 1924, mandated by Atatürk, consequent to the First Economy Congress in İzmir. Isbank begun to operate with two branches and 37 staff under the leadership of Celal Bayar, its first General Manager. The bank was established with the donations of cash and gold bullion from the muslim supporters in the future Pakistan[5] sent via the Imperial Bank of India to support the Turkish War of Independence.

Contributions to banking in Turkey[edit]

  • The use of cheques for daily transactions.
  • Initiating electronic banking in the country.
  • Introduction of the ATM.
  • Overseas branches in Europe and Turkish Republic of Northern Cyprus.
  • Saving accounts.
  • Mutual funds.
  • Introduction of child's coin bank.
  • Operation of an in-house securities division.
  • Interactive banking service since July 1996
  • Deployment of Netmatik machines, to enable online banking among clients without access to a computer.
  • Introduction of mobile banking on WAP enabled GSM phones.
  • Bankamatik(+) which allows the money to be put directly to the account of the client.
  • Introduction of Maximum Cash Point which allows clients to draw cash from POS machine where there is no ATM available.

Financial operations[edit]

Countries in which İşBank has operations, branches and representative offices

The state Pension Fund has brokered the offering of stock options to employees and retired staff in the company which has reached 41.5%. As of December 2006 41.5% of Isbank shares are held by Isbank's own private Pension Fund, 28.1% are Atatürk's shares that are represented by Republican People's Party and 30.4% are free float. In May 1998, 12.3% of the Bank's total shares previously held by the Turkish Treasury have been sold to national and international investors in a public offering.

Today the shares are listed on the Istanbul and London Stock Exchanges. The Bank's market capitalization valued at TRL 17,971,848 thousand by the end of December 2006 is the second one among private corporations in Turkey. As of 29 December 2006, Isbank's market value constitutes 7,81% of the ISE market value where 316 corporations were traded and whose market value was TRL 230,037,678 thousand.

See also[edit]

References[edit]