Sümerbank

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Sümerbank was a Turkish bank and industrial holding company formerly owned by Hayyam Garipoğlu, now part of Oyak Bank. On 11 January 2002, Oyak Bank acquired Sümerbank and the combined bank is now known under the Oyak Bank name.[1]

History

Sümerbank began as a textile plant.

In 1932, President Atatürk and Prime Minister Ismet Inonu secured credit from the Soviet Union for the construction of the Kayseri Plant. The first complex (plant) in Kayseri, Turkey opened in September 1935.[2]

When it was built, Sümerbank's textile plant produced most qualified and relatively cheap textile products of that time.

Sümerbank was the cornerstone of Atatürk's economic revolution. The half a century of state-led industrialization represented by Sümerbank and its subsidiaries were closed and became a historical milestone in 2002.

See also

  • Kemalist ideology

References

  1. ↑ Introducing Oyak Bank
  2. ↑ Sümerbank - Kayseri - Reports - Turkey - ESI


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