İşbank, officially Türkiye İş Bankası, 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]
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 Turkish Republic of Northern Cyprus, two branches in each of Iraq, Kosovo and the United Kingdom, one branch each in Bahrain and one representative office in each of Cairo and Shanghai. İşbank's German banking subsidiary (İşbank AG[7]) has 9 branches in Germany and one branch in the Netherlands. İşbank's Russian banking subsidiary (JSC İşbank) has one branch and two representative offices in Russia. There is also a subsidiary in Georgia (JSC İşbank Georgia) with branches in Tbilisi and Batumi.
Atatürk at İşbank head office on October 22, 1929.
Following the culmination of World War I in 1918 and the subsequent dissolution of the Ottoman Empire in 1922, Turkey was declared a republic and Mustafa Kemal Atatürk was elected by parliament as the first president of Turkey. Atatürk was quick to realise that the government needed a national bank to rebuild Turkey's economy following the debacle of the war. İşbank, the first truly national bank in the Turkish Republic was founded on 26 August 1924 at the First Economy Congress in İzmir.[8]
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.[9] In 1927, the capital was raised by 2 Million TL so it could be merged with the National Credit Bank as equal partners.[10]
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.[11] In the following years, İşbank began to expand by opening branches across the country. In 1932, İşbank opened branches in Hamburg, Germany and Alexandria, Egypt, becoming the first Turkish bank to open branches abroad. In the 1950s,[12] Isbank expanded its portfolio of subsidiaries. The bank's subsidiaries became the driving force of Turkish industry, investing in and financing a wide range of businesses, particularly in the manufacturing sector. Having accelerated branch expansion in the 1960s and 1970s, İşbank paid special attention to the development of its overseas branch network in the 1980s. In the 1980s, İşbank began to offer a wide range of services to its customers in line with its multi-channel banking vision. In 1982, İşbank introduced the first ATMs to Turkey, and at the same time, the name "cash machine" became a trademark. With the launch of the "Blue Line" in 1991[13] and the first internet branch in 1997, İşbank assumed a pioneering role in this field. Since those years, İşbank has been carrying out R&D activities and studies on the use of new technologies in order to increase the quality and diversity of its services in line with the wishes and expectations of its customers.
Contributions to banking in Turkeyedit
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.
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 operationsedit
Countries in which İşBank has operations, branches and representative officesTürkiye İş Bankası building on Ulus Square in Ankara
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]
(PDF), İşbank, 2019, archived from the original (PDF) on 2020-04-15
(PDF), İşbank, 2015, archived from the original (PDF) on 9 August 2016
Isbank on the Forbes Global 2000 List, 2015, retrieved 17 June 2016
February 16, 2024
işbank, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, july, 2009, learn, . This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Isbank news newspapers books scholar JSTOR July 2009 Learn how and when to remove this template message Isbank officially Turkiye Is Bankasi 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 Isbank is a bank that provides consumer loans vehicle loans housing loans and commercial loans Isbank 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 Turkiye Is Bankasi A S IsBank s world headquarters in Levent IstanbulCompany typeAnonim SirketTraded asBIST ISATRBIST ISBTRBIST ISCTRLSE TIBDIndustryFinance and insuranceFoundedAugust 26 1924 99 years ago 1924 08 26 FounderMustafa Kemal AtaturkHeadquartersIsbank Tower 1 Levent Besiktas IstanbulNumber of locations1 195 branches 1 174 domestic 21 abroad 2021 1 Area servedWorldwideKey peopleAdnan Bali Chairman Hakan Aran CEO ProductsFinancial services credit cards consumer banking corporate banking investment banking mortgage loans private bankingRevenue 45 8 billion 2021 2 Operating income 15 5 billion 2021 2 Net income 13 5 billion 2021 2 Total assets 926 6 billion 2021 3 Total equity 86 8 billion 2021 3 Number of employees22 802 2021 1 Subsidiaries109 subsidiaries 4 including List Anadolu SigortaAnadolu Hayat EmeklilikBankamatikMaximum KartSisecam A S PriviaMaximilesIs YatirimIs LeasingIs FactoringCamIsIsnetSofttechTurkiye Is Bankasi Kultur YayinlariWebsiteisbank comFootnotes references Turkey s Bank The bank operates 1 174 branches domestically giving it one of the largest branch networks in Turkey Isbank s international network comprises 14 branches in the Turkish Republic of Northern Cyprus two branches in each of Iraq Kosovo and the United Kingdom one branch each in Bahrain and one representative office in each of Cairo and Shanghai Isbank s German banking subsidiary Isbank AG 7 has 9 branches in Germany and one branch in the Netherlands Isbank s Russian banking subsidiary JSC Isbank has one branch and two representative offices in Russia There is also a subsidiary in Georgia JSC Isbank Georgia with branches in Tbilisi and Batumi Contents 1 History 2 Contributions to banking in Turkey 3 Financial operations 4 See also 5 References 6 SourcesHistory edit nbsp Ataturk at Isbank head office on October 22 1929 Following the culmination of World War I in 1918 and the subsequent dissolution of the Ottoman Empire in 1922 Turkey was declared a republic and Mustafa Kemal Ataturk was elected by parliament as the first president of Turkey Ataturk was quick to realise that the government needed a national bank to rebuild Turkey s economy following the debacle of the war Isbank the first truly national bank in the Turkish Republic was founded on 26 August 1924 at the First Economy Congress in Izmir 8 Ataturk appointed Celal Bayar his close aide and then the Minister of Exchange Construction and Settlement as the president of the newly formed bank Isbank began operations with two branches and 37 staff under the leadership of Celal Bayar its first general manager The bank was established with a capital of 1 TL Million of which 250 000 TL was covered by Ataturk and the rest by private investors 9 In 1927 the capital was raised by 2 Million TL so it could be merged with the National Credit Bank as equal partners 10 Established to utilize the smallest savings and transfer them to development Isbank played a major role in the establishment and development of savings awareness in Turkish society bringing the first piggy banks to Turkey in 1928 11 In the following years Isbank began to expand by opening branches across the country In 1932 Isbank opened branches in Hamburg Germany and Alexandria Egypt becoming the first Turkish bank to open branches abroad In the 1950s 12 Isbank expanded its portfolio of subsidiaries The bank s subsidiaries became the driving force of Turkish industry investing in and financing a wide range of businesses particularly in the manufacturing sector Having accelerated branch expansion in the 1960s and 1970s Isbank paid special attention to the development of its overseas branch network in the 1980s In the 1980s Isbank began to offer a wide range of services to its customers in line with its multi channel banking vision In 1982 Isbank introduced the first ATMs to Turkey and at the same time the name cash machine became a trademark With the launch of the Blue Line in 1991 13 and the first internet branch in 1997 Isbank assumed a pioneering role in this field Since those years Isbank has been carrying out R amp D activities and studies on the use of new technologies in order to increase the quality and diversity of its services in line with the wishes and expectations of its customers Contributions to banking in Turkey editThe 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 nbsp Countries in which IsBank has operations branches and representative offices nbsp Turkiye Is Bankasi building on Ulus Square in AnkaraIn 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 Erdogan announced that he advocated of transferring the shares held by the CHP to the treasury 14 Isbank 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 Isbank s market value was TRY 34 1 billion 14 See also edit nbsp Banks portalList of companies of Turkey List of banks in TurkeyReferences edit a b Isbank Annual Report 2019 p 2 a b c Isbank Annual Report 2019 p 125 a b Isbank Annual Report 2019 p 5 IsBank Annual Report 2015 p 4 Turkiye Is Bankasi 2021 Entegre Faaliyet Raporu PDF Archived from the original PDF on 8 April 2022 Retrieved 8 April 2022 Turkiye Is Bankasi 2021 Entegre Faaliyet Raporu PDF Archived from the original PDF on 8 April 2022 Retrieved 8 April 2022 Company Kocabasoglu s 74 Kocabasoglu s 698 700 Kocabasoglu s 114 Milliyet 18 Eylul 1928 Turkiye Is Bankasi 95 yasinda Turkiye Is Bankasi A S 26 August 2019 Archived from the original on 23 February 2020 Retrieved 22 February 2020 Kocabasoglu s 541 Sources editAnnual Report 2019 PDF Isbank 2019 archived from the original PDF on 2020 04 15 Annual Report 2015 PDF Isbank 2015 archived from the original PDF on 9 August 2016 Isbank on the Forbes Global 2000 List 2015 retrieved 17 June 2016 Retrieved from https en wikipedia org w index php title Isbank amp oldid 1186587873, wikipedia, wiki, book, books, library,
