Bank Asya
Bank Asya was established in October 24, 1996 with its head office in Istanbul, as the sixth private finance house of Turkey. The company's name, which had been previously "Asya Finans Kurumu Anonim Şirketi" (Asya Finance Incorporated Company), was changed into "Asya Katilim Bankasi Anonim Şirketi" (Asya Participation Bank Inc.) on December 20, 2005.
Bank Asya, with an initial capital of TRY2 million and current paid up capital of TRY900 million, has a multi-partnered structure based on domestic capital. At the end of 2009, Bank Asya’s total assets reached TRY14 billion. Bank Asya rose by 47 places in the “Top 1000 World Bank Ranking” of “The Banker” Magazine in 2010, rising to 473 from 520. At the same time, Bank Asya ranked 403rd on “The Banker’s Top 500 Banking Brands”. Bank Asya has also become the largest participation bank in Turkey.
The main objective of Bank Asya, which accepts supporting production by complying with the requirements of interest-free banking as the foundation principle, is to spread the interest-free finance system to larger masses by using the latest opportunities of technology in accordance with a customer-oriented service mentality. In this direction Bank Asya carries out its activities with 182 branches, 2 national and 1300 foreign correspondent banks besides the head office units as of May 2011.
History
1996
- Bank Asya was founded on October 24th in İstanbul, Turkey
1997
- 14 branches were opened in 10 cities (branches include Kadiköy, Merter, Şişli, Güneşli, Pendik(İstanbul), Ulus (Ankara), İzmir, Bursa, Konya, Gaziantep, Kayseri, Eskişehir, Antalya and Aydin)
1998
- Bank Asya launched credit card activities
- Established online banking correspondence with all Yapı Kredi branches
- Sultanhamam branch was opened
1999
- Bank Asya became subject to Turkish Banking Law
2000
- Online Banking became available to the public
- 9 braches were opened (branches ınclude Ostim (Ankara), Diyarbakir, Erenköy, Ümraniye, Fatih, Gaziosmanpaşa (İstanbul), Gebze, Erzurum and Samsun)
2001
- The Union of Private Finance Houses was founded
- The Regulation for Foundation and Activities of Private Finance Houses began operations on September 20th
2002
- 3 brances were opened (branches include Denizli, Adapazari and Beylikdüzü)
- Private Finance Houses Private Current and Savings Accounts Safety Fund Regulation began operation on September 18th
- Installment credit cards were launched
- ATMs were put into service
- Correspondent banking relations were established with Türk Ekonomi Bankasi and Denizbank branches
2003
- 17 branches were opened
- Correspondent banking relation was established with Şekerbank branches
- Tax collection authority was granted by the Ministry of Finance
- Nationwide facility for credit card payment and money transfers by Asya Finans customers through on-line PTT branches was initiated
- Bank Asya became a member of VISA on October 24th
2004
- Alo Asya (444 4 888) Telephone Banking was put into operation on January 1st and March 17th, for retail and corporate customers, respectively
- 19 branches were opened
- The organizational structure of the Head Office was changed and operations began being carried out by 24 units
2005
- The company name, which had been previously "Asya Finans Kurumu A.Ş.", was changed into "Asya Katilim Bankasi A.Ş."
- Membership agreement was signed with MasterCard on May 18th
- Bank Asya launched chip credit card activities
- Bank Asya became registered in the presence of Trade Register Office of Istanbul on December 20th
- Paid-up capital has increased from TL 120 million to TL 240 million
- 11 branches were opened
2006
- On May 12th, Bank Asya shares began tradıng at the (İstanbul Stock Exchange) ISE with the code of ASYAB
- Paid-up capital has increased from TL 60 million to TL 300
2007
- 26 new branches were opened. Bank Asya branches have increased to 118
- New Head Office building in Ümraniye commenced service on October 1
2008
- Bank Asya became title sponsor for the First League of Turkish Football Federation
- AsyaCard DIT, the most extensive, off-line credit card of Europe, and AsyaPratik DIT, the first pre-paid bank card of Turkey, were brought into use
- The first transportation project with which AsyaCard can be used has been put into service and AsyaCard began to be used for transportation in Kahramanmaras
- Paid-up capital has increased to TL 900 million
- Number of branches has increased to 149
2009
- Bank Asya was displayed as the bank having the most effective performance in
the "Top 1000 World Banks" list of world-known financial magazine, The Banker.
- The first contactless prepaid bank card of Turkey, DIT Pratik, ranked first in 2009 category
- A strategic cooperation agreement was signed between Bank Asya and ICD, one of the corporations of Islamic Development Bank (IDB) and Bank Asya went in a partnership with Senegal - based Tamweel Africa Holding SA
- Assets reached TL 11,6 billion; increasing 43% compared to the same period of the last year
- Reaching 22,2% profit rate Bank Asya has become the most profitable interest - free bank of Turkey for last three years
- Number of branches has increased to 158[2]
2010
- Second Murabaha syndication - 250 million USD
- Bank Asya ranked 403 in The Banker‘s Top 500 Banking Brands listing the leading names
2011
- 300 million USD murabaha syndication
Ratings
Moody's
Moody's Ratings
| Moody's |
2010 |
| Long term FC Deposit |
Ba3 |
| Short term FC Deposit |
B1 |
| Long term LC Deposit |
Ba2 |
| Short term LC Deposit |
Ba1 |
[3]
Fitch
Fitch Ratings
| Fitch |
2010 |
| Long Term Foreign Currency |
B+ |
| Long Term Local Currency |
B+ |
| Short Term Foreign Currency |
B |
| Short Term Local Currency |
B |
| National Long Term |
A-+(tur) |
[4]
Subsidiaries
IŞIKSİGORTA
- 65.42% ownership - non-life insurance company with 183 million TL in assets.
TUNA REIT (Real Estate Investment Trust)
- Established in 2009 [5]
- Development of residential and saleable real estate and generation of rental revenue from its own real estate portfolio.
- STRATEGY: IPO in 3 years
TAMWEEL Africa Holding
- Bank Asya and ICD (Islamic Corporation for the Development of the Private Sector), a subsidiary of the Islamic Development Bank jointly carry out interest-free banking activities in West Africa
- Bank Asya owns a 40% stake and ICD 60% in Senegal-based Tamweel Africa Holding SA
- Tamweel Africa Holding SA owns 4 banks in Niger, Senegal, Guinea, and Mauritania
- Plans for opening 2 new banks in Benin and Mali
- Partnership could expand up to 22 countries in Africa
Success and Recognitions
- Bank Asya rose by 47 places in the Top 1000 World Bank Ranking of Banker Magazine in 2010, rising to 473 from 520
- Asya ranks number 403 in The Banker’s Top 500 Banking Brands listing ranks the leading names.
- Bank Asya was displayed the bank having the most effective performance in "Top 1000 World Banks" list of world-known financial magazine, The Banker.[6]
- AsyaCard DIT was awarded for "the Best Cash Displacement Initiative" at "Visa Europe Member Awards" and "the Best New Credit Card Product Launch" at Cards & Payments Awards.
- The first contactless prepaid bank card of Turkey, DIT Pratik, ranked first in 2009 category.
- Bank Asya was selected "the Most Transparent Bank" among the banks trading at ISE in "Partnership and Corporate Structure" class.
- Bank Asya became title sponsor for the First League of Turkish Football Federation.
Reference
External links