Image File history File links No higher resolution available. ... This article does not cite any references or sources. ... The Istanbul Stock Exchange (ISE) ( Turkish: İstanbul Menkul Kıymetler Borsası, İMKB) is the only corporation in Turkey for securities exchange established to provide trading in equities, bonds and bills, revenue-sharing certificates, private sector bonds, foreign securities and real estate certificates as well as international securities. ... Year 1948 (MCMXLVIII) was a leap year starting on Thursday (link will display the 1948 calendar) of the Gregorian calendar. ... Image File history File links Flag_of_Turkey. ... Levent financial district View from Sporcular Park A double decker commuter bus on Taksim Square, running between the European and Asian districts of Istanbul, with a Turkcell advertisement showing Levent financial district and the Bosphorus Bridge, as seen from Nakkaştepe Hill on the Asian side of the Bosphorus Levent... Istanbul (Turkish: , Greek: , historically Byzantium and later Constantinople; see other names) is Turkeys most populous city, and its cultural and financial center. ... Erol Sabancı (1938), a member of the renowned Sabancı family in second generation, is a billionaire Turkish banker. ... A Chairman is the presiding officer of a meeting, organization, committee, or other deliberative body. ... Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. ... Finance and Insurance is an industry group that mainly handles the transfer of paper and money, financial assets. These include: Accounting, Asset Management, Electronic Communications Networks, Financial Services Regulatory Agencies, Investment Banking Investment Firms, Investment Funds, Lending, Outsourced Financial Products & Services Marketing, Securities Brokers & Traders, Stock Exchanges, Trade Facilitation, and... A commercial bank is a type of financial intermediary and a type of bank. ... Investment banks help companies and governments (or their agencies) raise money by issuing and selling securities in the capital markets (both equity and debt). ... Investment management is the professional management of various securities (shares, bonds etc) assets (e. ... For the tax agency in Ireland of the same name, see Revenue Commissioners. ... TRY banknotes and coins The new Turkish lira is the current currency of Turkey and Turkish Republic of Northern Cyprus. ... This article is about work. ... Year 2007 (MMVII) is the current year, a common year starting on Monday of the Gregorian calendar and the AD/CE era in the 21st century. ... Look up slogan in Wiktionary, the free dictionary. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML...

History of Akbank T.A.Ş

Akbank was founded in Adana, Turkey on January 1948, originally to provide financing for the cotton producers in the Çukurova region. Growing and developing over time, the Bank opened its first branch in Istanbul in the district of Sirkeci on July 14, 1950, moving its Headquarters to Istanbul in 1954. Rapidly increasing the number of its branches, Akbank automated all banking operations in 1963. The Bank’s first international representative office was opened in Frankfurt, Germany. The first Turkish private sector bank to be established abroad, Ak International Ltd., its name later to be changed to Sabancı Bank, was established in 1983. The Bank also established Ak Securities in 1996, Ak Investment Fund in 1998, Ak Asset Management and the Bank’s Private Banking Department in 2000 and Ak Pension Fund in 2003. Akbank expanded its international network in 2002 with the launch of Akbank NV in the Netherlands. Akbank incorporated Ak Financial Leasing in 2005. In February 2006, a decision of the Board of Directors of the Bank initiated the sale of Ak Pension Fund to the insurance company Aksigorta. Adana (Turkish: }) (the ancient Antioch in Cilicia or Antioch on the Sarus)) is the capital of Adana Province in Turkey. ... Year 1948 (MCMXLVIII) was a leap year starting on Thursday (link will display the 1948 calendar) of the Gregorian calendar. ... Cilicia as Roman province, 120 AD In Antiquity, Cilicia (Κιλικία) was a region, and often a political unit, on the southeastern coast of Asia Minor (modern Turkey), north of Cyprus. ... Istanbul (Turkish: , Greek: , historically Byzantium and later Constantinople; see other names) is Turkeys most populous city, and its cultural and financial center. ... [edit] The neighborhood Sirkeci (pronounced Sir-ke-ji) is an area in the Eminönü belediye (neighborhood) in the city of Istanbul, Turkey. ... Istanbul (Turkish: , Greek: , historically Byzantium and later Constantinople; see other names) is Turkeys most populous city, and its cultural and financial center. ...

In addition to its core banking activities, Akbank also offers a wide range of retail, commercial, corporate, private banking and international trade finance services. Non-banking financial, capital market and investment services are provided by the Bank’s subsidiaries. With its use of the latest advances in technology and its staff of experienced bankers, Akbank continues to focus on providing the highest quality services to a wide-ranging private and corporate clientele.

Akbank operates through its Headquarters in Istanbul and its 13 Regional Directorates in Turkey. With a strong and extensive distribution network that includes 658 branches and 11,186 employees, Akbank provides services beyond traditional distribution channels, through its Retail and Corporate Internet Branches, its Telephone Banking Center, 1,502 ATMs, 136 BTMs, 217,198 POS terminals and the latest technology channels such as kiosks, cell phones and palm-PC platforms. In addition, a Freedom Banking Area has been set up within branch premises to allow customers to access its Internet and Telephone Banking platforms. Cash machine redirects here. ...

Akbank has a branch in Germany and one in Malta. Akbank has 100% ownership of Akbank NV established in the Netherlands and 65% of the London-based Sabancı Bank. In February 2006, a “Share Purchasing Agreement” was signed with regard to the sale of Sabancı Bank shares. Akbank, which previously owned 39.99% of the shares of Istanbul-based BNP-Ak-Dresdner Bank, acquired an additional 60% of the shares from foreign partners in 2005 thereby merging this bank to its structure. The 1978 Silver Tower houses part of the head office of the Dresdner bank. ...

Its strong capital base, stable deposit structure, ability to procure low-cost funding and robust growth in total assets combine to make Akbank the most profitable bank in the private sector in Turkey. At year-end 2005, Akbank’s gross profit was YTL 2,078 million (approx. US$ 1,547 million) while total assets reached YTL 52,385 million (approx. US$ 38,098 million). The capital adequacy ratio of the Bank is one of the highest in the sector at 21.4%. The United States dollar is the official currency of the United States. ... The United States dollar is the official currency of the United States. ...

Euromoney magazine selected Akbank as Turkey’s Best Bank for the seventh time in 2005. Euromoney magazine [1] is a monthly publication focusing on international banking and capital markets. ...

In 2005, Akbank continued to obtain credits from overseas markets at favorable terms and the amount of these resources reached a total of US$ 5,217 million. The United States dollar is the official currency of the United States. ...

Some 33.7% of Akbank shares are publicly traded and listed on the Istanbul Stock Exchange (ISE). Abroad, the Bank’s Level 1 ADRs are traded on the London IOB and the OTC market in the US. As of December 31, 2005, the Bank’s market value stood at US$ 14,756 million, making it the corporation with the second highest market value on the ISE. The Istanbul Stock Exchange (ISE) ( Turkish: Ä°stanbul Menkul Kıymetler Borsası, Ä°MKB) is the only corporation in Turkey for securities exchange established to provide trading in equities, bonds and bills, revenue-sharing certificates, private sector bonds, foreign securities and real estate certificates as well as international securities. ... The United States dollar is the official currency of the United States. ...

Management Board & Group Executive Committee

Erol Sabancı (1938), a member of the renowned Sabancı family in second generation, is a billionaire Turkish banker. ... Sir Win Bischoff is the interim CEO for Citigroup after Chuck Prince announced his retirement on November 4th, 2007[1][2]. He was knighted in the New Year Honours list in 2000[1]. ^ a b http://www. ...

Strategy

Akbank's mission is to contribute to the development of the Turkish economy and the Turkish financial system by providing high-quality, specialized banking products and services that are innovative and comprehensive. Turkey’s most profitable privately owned bank Turkeys economy is an industry and traditional economy where agriculture sector that in 2005 still accounted for 30% of employment. ...

• Credit rating above sovereign rating
• 658 branches located throughout the country
• An extensive and stable funding base
• A wide-ranging customer portfolio with the ability to attract new customers
• A robust capital structure and a high capital adequacy ratio of 21.4%
• A diversified loan portfolio with a low NPL ratio of 1.59%

Akbank expanded its international network further in the late 1990s. In 1998, the bank converted its Frankfurt office into a full-fledged branch. The success of that effort encouraged the bank to extend its branch network to its other offices in Germany. These were converted to branches in 1999. In that year, the company crossed another, albeit virtual, frontier, when it launched its own internet banking services. This was followed by the creation of a new banking vehicle, the Commercial Internet Branch, in 2000, which catered to the SME market. Also in 2000, Akbank created two new dedicated financial services subsidiaries, Ak Portfolio Management, and the Private Banking Unit. This move came as part of the company's effort to transform itself into a full-service bank for its next growth phase. As part of this change in group strategy, Akbank launched a vast branch restructuring program in 2002, earmarking an investment of some $350 million.   (German: , English: American English: ) is the largest city in the German state of Hesse and the fifth-largest city in Germany, with a mid-2007 population of 663,567. ...

Akbank added to its international operations again in 2000, opening a branch office on the island of Malta. This was followed by the opening of a new branch office in Berlin in 2001, and the creation of a subsidiary in the Netherlands, Akbank International NV, to serve the large community of Turkish immigrants there. Back at home, the company extended its internet banking service to include a separate English-language site, in order to serve the large international community in Turkey as well. The company then acquired majority control of Akhayat Insurance, which it transformed into a pension fund called Ak Pension Fund, at the beginning of 2003, in a bid to take the leading share of Turkey's private pension fund market. In that year, also, Akbank launched a new credit card, the MasterCard-backed Axess, which became one of Europe's fastest-growing credit cards. This article is about the capital of Germany. ...

As it continued restructuring its branch network, Akbank also moved to take tighter control of other areas. The bank boosted its direct shareholding in London's Sabanci Bank, from 37 percent to 65 percent in April 2005. By then, the company had also acquired full control of the BNP-Ak-Dresdner Bank joint venture. This article is about the capital of England and the United Kingdom. ...

By the mid-2000s, Akbank had clearly taken its place among Turkey's top four banks, boasting total assets of more than TRL 54 billion ($40 billion) to place it second among the country's publicly listed banks into 2006. Founded to provide the financial backing for the expansion of the Sabanci family's network of companies, Akbank had grown into a full-fledged international banking leader as one of Turkey's top lenders. Nonetheless, the bank remained intimately connected with the Sabanci family, which continued to hold more than 70 percent of Akbank's share both directly and through Haci Omer Sabanci Holding. Akbank looked forward to future growth as a Turkish banking leader.

Recent Strategic Alliances and Acquisitions

Image File history File links Citibank. ...

Citigroup and Akbank announced that, following receipt of all required regulatory approvals, the parties have successfully completed the acquisition by Citigroup of a 20% stake in Akbank. Under the terms of their agreement announced on October 17, 2006, Citigroup has acquired a 20% equity stake in Akbank for approximately $3.1 billion, at a price of 9.50 Yeni Kurus (YKr) per share. Citigroup Inc. ... is the 290th day of the year (291st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Manhattan Chinatown Citibank branch (New York City)

Citigroup obtained its shares in Akbank through (a) the purchase of shares equal to approximately 11.67% of the fully diluted capital of Akbank from Sabanci family members and Sabanci Holding subsidiaries at 9.50 YKr per share and (b) the issuance of new Akbank shares, equal to 8.33% of Akbank’s fully paid up capital, at the same price through a reserved capital increase in favor of Citigroup. The parties’ rights of first refusal or first offer under the agreements become effective at the closing. Image File history File links Download high resolution version (2580x1636, 1112 KB)Citibank branch in Chinatown district of Lower Manhattan (New York City, New York, USA). ... Image File history File links Download high resolution version (2580x1636, 1112 KB)Citibank branch in Chinatown district of Lower Manhattan (New York City, New York, USA). ... Manhattans Chinatown in 1995, with 1 World Trade Center (the North Tower) in the background. ... New York, New York and NYC redirect here. ... Sabancı Holding logo Hacı Ömer Sabancı Holding A.Åž., abbreviated as Sabancı Holding, is the second largest industrial and financial conglomerate in Turkey after Koç Holding. ...

In addition, pursuant to the terms of their agreement, Citigroup’s nominee, Sir Winfried Bischoff, has been appointed to Akbank’s Board of Directors, and Mr. Ege Çağlar, Sabanci Holding’s nominee, has been appointed to the Board of Directors of Citigroup's Turkish banking subsidiary, Citibank A.S. Citigroup Inc. ... Citigroup Inc. ...

The agreement establishes a strategic collaboration between Citigroup and Akbank to pursue new commercial activities, referral arrangements and to share expertise and technology. Through its strategic investment Citigroup offers Akbank access to Citigroup’s know-how in world-class product innovation, most advanced credit risk management practices and top quality management training programs, which are expected to strengthen Akbank’s performance and accelerate its growth in both retail corporate and investment banking business lines.

Key Dates

1948: Haci Omer Sabanci founds Akbank in partnership with shareholders from Adana and Kayseri regions in order to provide financing for the development of Sabanci's other business interests.

1950: Akbank makes first equity investment, in the Industrial Development Bank of Turkey, and opens branch office in Istanbul.

1954: Akbank moves its headquarters to Istanbul.

1964: Company opens representative office in Frankfurt, Germany, to serve Turkish "guest worker" population there.

1983: Company founds Ak International Bank (later Sabanci Bank) in London, becoming first privately held international Turkish bank.

1985: Company founds BNP-Ak bank joint venture with BNP of France.

1988: Dresdner bank joins BNP-Ak-Dresdner Bank joint venture.

1994: Akbank becomes founding member of Golden Point ATM network in Turkey.

1996: Akbank gains exclusive franchise for American Express card in Turkey.

1998: Frankfurt office is converted to a branch office.

1999: Company converts offices in Hamburg, Essen, Hannover, Stuttgart, and Munich to branch offices; launches internet banking services.

2000: Akbank founds Ak Portfolio Management, the Private Banking Unit, and the Commercial Internet Branch in strategy to become full-service bank; opens branch office in Malta.

2001: Akbank forms subsidiary in the Netherlands, Akbank International NV; acquires Akhayat Insurance.

2002: Akbank launches $350 million branch restructuring program.

2003: Company converts Akhayat Insurance to Ak Pension Fund.

2005: Akbank increases holding in Sabanci bank to 65 percent; acquires full control of BNP-Ak-Dresdner joint venture.

Principal Subsidiaries

Ak Asset Management (99.99%)

Ak Emeklilik Private Pension Fund (73.41%)

Ak Investment Fund (45.72 %)

Ak Securities (Ak Yatirim) Brokerage (99.80%)

Akbank N.V.

AkLease (99.98%)

BNP-AK-Dresdner Bank (39.99%)

Sabanci Bank (65%)

Turkiye Sinai Kalkinma Bankasi Development Bank (6.45%).

International Awards

The Banker: Best Bank of the Year in Turkey (2006)

Euromoney: Best Private Banking in Turkey (2006) Akbank is highly commended in the Banker Technology Awards 2006 for Speedy - Cellular Credit Euromoney magazine [1] is a monthly publication focusing on international banking and capital markets. ...

The Banker Technology Awards are designed to provide financial institutions and their clients around the world with an objective analysis of the technological expertise that exists within key business areas. The Awards highlights those solutions and projects that have made a real difference over the past 12 months.

Akbank has been quoted positively and awarded by numerous organizations for its adherence to the principle of transparency in corporate governance practices.

• The annual Standard and Poor’s Survey on Transparency and Disclosure once again revealed that Akbank is the only bank to be in top position with regard to transparency and disclosure

• BORYAD (Turkish Shareholders Association) named Akbank “The Most Investor- Friendly Company of 2006”, due to the priority Akbank attaches to corporate governance principles and for being the first bank that has bought back its founders’ shares.

• Akbank continues to have the highest credit ratings to be given to a bank in Turkey.

References

• Top 1000 World Banks 2006. The Banker. Retrieved on 2006-09-03.

• Akbank Newsroom. Akbank.

Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 246th day of the year (247th in leap years) in the Gregorian calendar. ...

External links

• Official website
• Akbank Sanat
• Akbank N.V.
• Akbank's Advertisement(Video)
• Yahoo! Finance - Akbank T.A.Ş. Company Profile

See also

• List of Turkish companies
• List of banks in Turkey