| Type | Bank |
|---|---|
| Industry | Finance and Insurance |
| Founded | 1924 |
| Founder(s) | Mustafa Kemal Atatürk |
| Headquarters | Isbank Tower 1, Maslak, Istanbul |
| Area served | Worldwide |
| Key people | Adnan Bali (CEO) |
| Products | Financial Services |
| Revenue | TRL 4,254 billion (2,25 billion $) |
| Net income | TRL 2,44 billion (1,29 billion $) |
| Total assets | TRL 147 billion (77,8 billion $) |
| Employees | 24.788 |
| Subsidiaries | Anadolu Sigorta Maximum Kart |
| Website | www.İşBank.com |
| References: "Turkey's Bank" | |
Türkiye İş Bankası is Turkey's first public bank and premiere national financial institution, ranked 102nd in the “Top 1000 World Banks” survey of Financial Times' The Banker and 371st in the Forbes Global 2000 lists as of 2008, with a Gross Profit for the Year 2006 TRY 2,540 million and USD 6.8 billion in Tier I Capital, as defined by Basel’s Bank for International Settlements.
The bank operates 1,011 branches domestically, giving it one of the largest branch networks in Turkey. İşbank's international network comprises one branch in the United Kingdom,[1] one branch in Bahrain, 13 branches in the Turkish Republic of Northern Cyprus, a financial subsidiary in the Republic of Ireland (İş Dublin Financial Services plc), and a banking subsidiary in Germany (İşbank GmbH), with 11 branches in Germany and one branch each in the Netherlands, France and Switzerland) as well as representative offices in Shanghai and in Cairo.
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The inception of the country's first truly national bank following the promulgation of the Republic dates back to 26 August 1924, mandated by Atatürk, consequent to the First Economy Congress in İzmir. Isbank begun to operate with two branches and 37 staff under the leadership of Celal Bayar, its first General Manager. The bank was established with the donations of cash and gold bullion from the muslims of India sent via the Imperial Bank of India to support the Turkish War of Independence.
The Treaty of Lausanne, which preceded the proclamation of the Republic, entailed a period during which resolutions to the state's economic and social problems were sought. There was a growing and deeply rooted sentiment signalling the need for a truly national establishment and the birth of a banking system that was capable of the financing means to back up economic activities, managing funds accumulated as a result of policies providing savings incentives and where necessary extending resources which could trigger industrial impetus.
The birth of a new country heavily depended on the presence of banking activities nationwide, the drive for industrial development, animating national savings, financing fundamental economic breakthroughs and the means to meet financial borrowings. The aftermath of World War I culminated in a wide array of progress, including financial services which soon took off with an accelerated pace leading to technological advances and the designation of previously unheard methods and criteria governing business. Turkey was to suffer deprivation from such innovations and lacked qualified and skilled human resources. Isbank began operating at a time of such economic strain.
The following services have been first introduced by Isbank to citizens of Turkey throughout its history:
Isbank boasts continuous growth committed to its founding principles, restoring its strength and vigour with each passing year. The Bank tops the list of Turkey's most respected and trustful enterprises, while carving itself a place among the world's largest corporations. Isbank, a publicly traded firm since its inception enjoys a peerless stakeholder base. To this day 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 highly successful public offering. Today the shares are listed on the Istanbul and London Stock Exchanges. The Bank's market capitalization valued at TRY 17,971,848 thousand by the end of December 2006 is the second one among private corporations in Turkey. As of 29 December 2006, Isbank's market value constitutes 7,81 % of the ISE market value where 316 corporations were traded and whose market value was TRY 230,037,678 thousand.
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