Pamukbank

Pamukbank
Bank
Industry Banking
Founded 22 April 1955
Defunct 17 November 2004
Headquarters Istanbul, Turkey
Products Financial Services

Pamukbank T.A.Ş. is a defunct Turkish bank. Founded in 1955 as a privately owned deposit bank,[1] it was taken over by the government's TMSF in 2002 because of a $2.5bn capital shortfall,[2] and merged into Halk Bankası in November 2004.[1] At the time Pamukbank had 172 branches and 4000 employees.[2]

Pamukbank was formerly owned by Çukurova Holding, and in 2013 Çukurova chairman Mehmet Emin Karamehmet was sentenced to seven years in prison for misuse of loans from Pamukbank.[3]

CEOs

References

  1. 1 2 Turkish Banks Association, Historical Data about Closed Banks - tbb.org.tr
  2. 1 2 Hurriyet Daily News, 26 March 2004, Banking watchdog merges Pamukbank with Halkbank
  3. ↑ Hurriyet Daily News, 10 May 2013, Businessman Karamehmet sentenced to seven years in prison for embezzlement
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