DenizBank

Denizbank A.Ş.

Denizbank logo Hayat Deniz'de Güzel (Life Is Good At Sea)
Company type	Public (ISE: DENIZ)
Industry	Finance and Insurance
Founded	Istanbul, Turkey 1938
Headquarters	Esentepe, Istanbul, Turkey
Number of locations	489 Branches (2010) in Turkey
Area served	Turkey
Key people	Hakan Ateş, CEO
Products	Banking Investment banking Investment management
Number of employees	9,189 (2010)
Parent	Dexia
Website	www.denizbank.com.tr

Denizbank A.Ş. is a private bank in Turkey controlled 99.79% by the French - Belgian bank Dexia since May 2006.

Denizbank was established in 1938 as a state-owned bank to help finance the then emerging Turkish maritime industry. In 1992, the Turkish government decided to consolidate a number of state-owned banks, and Denizbank merged into Emlakbank.

In 1997, a banking license was auctioned by the government under the name Denizbank without any significant assets except three branch buildings. Zorlu Holding acquired the bank from the Privatization Administration for $70 million in 1997, and operations commenced in September of that year. With the revitalization program initiated, new branches were opened under the new corporate identity. Expansion was supported by acquiring some branch offices from other banks, including Tarişbank in 2002. It went international by establishing or acquiring banks in Austria, Russia and the Turkish Republic of Northern Cyprus. Furthermore, Denizbank extended its product range by adding services like investment banking, brokerage, factoring and leasing, which all were formed under the leadership of Denizbank to "Denizbank Financial Services Group". The group of 13 companies employs 6,000 people.

On May 31, 2006, the Belgian bank Dexia purchased 75% the stake for US$ 2.437 billion from Zorlu Holding and announced that the bank’s name would not change. The remaining 25% of the shares is being held publicly. Denizbank has 489 branch offices as of 20.09.2010.

References

• Official website