İşbank
This article needs additional citations for verification. (July 2009) |
mortgage loans, private banking | |
Revenue | ₺45.8 billion (2021)[2] |
---|---|
₺15.5 billion (2021)[2] | |
₺13.5 billion (2021)[2] | |
Total assets | ₺926.6 billion (2021)[3] |
Total equity | ₺86.8 billion (2021)[3] |
Number of employees | 22,802 (2021)[1] |
Subsidiaries | 109 subsidiaries,[4] including List
|
Website | isbank.com |
Footnotes / references "Turkey's Bank" |
İşbank, officially Türkiye İş Bankası (English: Business/Work Bank of Türkiye), is a commercial bank in Turkey. It was the largest private bank in the country by the size of total assets, total loans, total deposits and equity, as well as by the number of branches and employees as of 31 December 2021.[5] It was the first bank founded by the Turkish Republic. İşbank is a bank that provides consumer loans, vehicle loans, housing loans and commercial loans. “İşbank has the 181st place in The Banker Top 1000 World Banks Ranking 2021”. It was ranked and 673 on the Forbes Global 2000 list for 2021. It had a net profit for 2021 of TRY 13.5 billion, and TRY 90.2 billion (equivalent to US$6.9 billion) in Tier I Capital, as defined by Basel's Bank for International Settlements.[6][7]
The bank operates 1,174 branches domestically, giving it one of the largest branch networks in Turkey. İşbank's international network comprises 14 branches in the
History
Following the culmination of
Atatürk appointed Celâl Bayar, his close aide and then the Minister of Exchange Construction and Settlement, as the president of the newly formed bank. İşbank began operations with two branches and 37 staff under the leadership of Celâl Bayar, its first general manager. The bank was established with a capital of 1 TL Million of which 250'000 TL was covered by Atatürk, and the rest by private investors.[10] In 1927, the capital was raised by 2 Million TL so it could be merged with the National Credit Bank as equal partners.[11]
Established to utilize the smallest savings and transfer them to development, İşbank played a major role in the establishment and development of savings awareness in Turkish society, bringing the first piggy banks to Turkey in 1928.
Contributions to banking in Turkey
- 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
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. The states 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 2021, 37.3% of Isbank shares are held by Isbank's own Pension Fund, 28.1% are represented by Republican People's Party (CHP) and 34.6% are free float.[14] In February 2019 the Turkish President Recep Tayyip Erdoğan announced that he advocated of transferring the shares held by the CHP to the treasury.[14]
Işbank’s shares are listed on Borsa Istanbul and its depository receipts are traded on London Stock Exchange as GDR (REG S). As of Decemder 2021, İşbank's market value was TRY 34.1 billion.[14]
See also
References
- ^ a b İşbank Annual Report 2019, p. 2.
- ^ a b c İşbank Annual Report 2019, p. 125.
- ^ a b İşbank Annual Report 2019, p. 5.
- ^ İşBank Annual Report 2015, p. 4.
- ^ "Türkiye İş Bankası 2021 Entegre Faaliyet Raporu" (PDF). Archived from the original (PDF) on 8 April 2022. Retrieved 8 April 2022.
- ^ "Türkiye İş Bankası 2021 Entegre Faaliyet Raporu" (PDF). Archived from the original (PDF) on 8 April 2022. Retrieved 8 April 2022.
- ^ "Isbank | Company Overview & News". Forbes. Retrieved 2024-04-08.
- ^ "Company".
- ^ Kocabaşoğlu, s. 74.
- ^ Kocabaşoğlu, s. 698-700.
- ^ Kocabaşoğlu, s. 114.
- ^ Milliyet, 18 Eylül 1928.
- ^ "Türkiye İş Bankası 95 yaşında". Türkiye İş Bankası A.Ş. 26 August 2019. Archived from the original on 23 February 2020. Retrieved 22 February 2020.
- ^ Kocabaşoğlu, s. 541.
Sources
- Annual Report 2019 (PDF), İşbank, 2019, archived from the original (PDF) on 2020-04-15
- Annual Report 2015 (PDF), İşbank, 2015, archived from the original (PDF) on 9 August 2016
- Isbank on the Forbes Global 2000 List, 2015, retrieved 17 June 2016