Türkiye İş Bankası

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Türkiye İş Bankası A.Ş.
Bank
Traded as BİST: ISATR
BİST: ISBTR
BİST: ISCTR
LSETIBD
Industry Finance and insurance
Founded 1924
Founder Mustafa Kemal Atatürk
Headquarters Isbank Tower 1, Levent, Beşiktaş, Istanbul
Number of locations
1,409 branches
(1,354 domestic; 55 foreign)[1]
Area served
Turkey and parts of Europe
Key people
H. Ersin Özince(chairman)
Adnan Bali(CEO)
Products Financial services, credit cards, consumer banking, corporate banking, investment banking, mortgage loans, private banking
Decrease Turkish lira symbol 8x10px.png 3.083 billion (2015)[2]
Total assets Increase Turkish lira symbol 8x10px.png 275.718 billion (2015)[2]
Total equity Increase Turkish lira symbol 8x10px.png 32.035 billion (2015)[2]
Number of employees
25,157 (excluding subsidiaries)[3]
Subsidiaries 106 subsidiaries,[3] including
Website www.IsBank.com
Footnotes / references
"Turkey's Bank"

Türkiye İş Bankası or simply İşbank is Turkey's largest bank. It was the first public bank founded by the Turkish Republic.[4] İşbank was ranked 96th in a survey of "The World's Biggest 1000 Banks”.[5] It was ranked and 447 on the Forbes Global 2000 list for 2015.[6] It had a gross profit for 2015 of TRY 3.023 billion[2] and USD 6.8 billion in Tier I Capital, as defined by Basel’s Bank for International Settlements.

The bank operates 1,354 branches domestically, giving it one of the largest branch networks in Turkey. İşbank's international network comprises 16 branches in the Turkish Republic of Northern Cyprus, two branches in each of Iraq, Kosovo and the United Kingdom,[7] and one branch each in Bahrain, Cairo and Shanghai. İşbank's German banking subsidiary (İşbank GmbH) has 13 branches in Germany and one branch each in the Netherlands, France, Switzerland and Bulgaria. İşbank's Russian banking subsidiary (JSC İşbank) has 11 branches in Russia. There is also a subsidiary in Georgia (JSC İşbank Georgia) with branches in Tbilisi and Batumi.

History[edit]

The first truly national bank in the Turkish Republic was founded on 26 August 1924 by Kemal Atatürk at the First Economy Congress in İzmir. Isbank began operations with two branches and 37 staff under the leadership of Celal Bayar, its first general manager. The bank was established with donations of cash and gold bullion from Muslim supporters in the future Pakistan[4] 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, İşBank'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]

Sources[edit]