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| '''Finansbank''' is a ] ] with headquarters in ], ]. It was established by leading Turkish banker ] in 1987 and for a period was the Turkish bank with the largest network of foreign branches. In 2006 the ] purchased the bank's domestic operations, spinning the international operations off under the name ]. | '''Finansbank''' is a ] ] with headquarters in ], ]. It was established by leading Turkish banker ] in 1987 and for a period was the Turkish bank with the largest network of foreign branches. In 2006 the ] purchased the bank's domestic operations, spinning the international operations off under the name ]. | ||
Revision as of 20:21, 23 December 2015
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| File:Finansbank2015.png | |
| Traded as | BİST: FINBN |
|---|---|
| Industry | Banking, Financial services |
| Founded | 26 October 1987 (26 October 1987) |
| Headquarters | Levent, Istanbul, Turkey |
| Key people | Ömer A. Aras (Chairman & CEO) |
| Total assets |  ₺ 42.74 billion (2015) |
| Total equity | ₺ 8.96 billion (2015) |
| Owner | National Bank of Greece (99.8%) |
| Number of employees | 12,000 (2015) |
Finansbank is a Turkish bank with headquarters in Levent, Istanbul. It was established by leading Turkish banker Hüsnü Özyeğin in 1987 and for a period was the Turkish bank with the largest network of foreign branches. In 2006 the National Bank of Greece purchased the bank's domestic operations, spinning the international operations off under the name Credit Europe Bank.
As of December 2010, total assets of Finansbank increased to 38.1 billion TRY or 30%. Total loans increased by 35% compared to 2009 and were worth TRY 25.8 billion; customer deposits increased by 25% and were worth TL 23.6 billion. Net interest income reached TL 2,254 million. Net fees and commissions increased by 7%, reaching TL 594 million. By 2010, the bank had over 12,000 staff and 502 branches.
On 22 December 2015, the National Bank of Greece announced it will sell the bank to Qatari QNB Group in order to pay down its expensive central bank debt following a number of bailouts.
History
Finansbank was established by leading Turkish banker Hüsnü Özyeğin on October 26, 1987. In 2000 the bank established a number of specialist subsidiaries, which included Finans Portfolio Management and Finans Real-Estate Investment Trust. It also launched a telephone banking system and set up an operations Center in Ümraniye, Istanbul.
In 2001 Finansbank sold its shares in Commercial Union Sigorta and Commercial Union Hayat Sigorta to CGU International Insurance and instead established a separate insurance subsidiary Finans Sigorta A.Ş. (Finans Insurance). In 2002 it installed a new core banking system giving it the best technology of the Turkish banks.
By the end of 2005, Finansbank had operations in ten countries including Turkey, Switzerland, the Netherlands, France, Germany, Belgium, Russia, Romania, Ireland and Bahrain. This earned it the title of the Turkish bank having the most extensive network in foreign countries.
In August 2006, the bank sold 46% of its shares to the National Bank of Greece (NBG), the largest bank of Greece. As part of the sale agreement all the international branches and subsidiaries were split from Finansbank and established as a new separate company registered in the Netherlands. This company was renamed as Credit Europe Bank and ownership was transferred to FIBA Group the holding company owned by original bank founder Hüsnü Özyeğin. National Bank of Greece subsequently increased its shareholding to 77% taking full control of the Turkish bank.
On March 18, 2014, Turkish daily Hürriyet reported the purchase by National Bank of Greece (NBG) of Soyak Kristal Kule (Soyak Crystal Tower), a 40-floor, 60,000 square-meter office tower in the Levent business district of Istanbul. The property was purchased for a reported price of $303M (US) from Koru Property Investments, a subsidiary of Soyak Group in Turkey. Hürriyet reported that NBG intended to use the newly constructed tower as Finansbank's headquarters. The property includes an adjoining 12-floor structure of 30,000 square-meters which is topped by a helipad. The main building's Turkish name, Kristal Kule (Crystal Tower) refers to the glass-sheathed structure's asymmetric, faceted, sloping silhouette. The project was the first in Istanbul to use performance-based design (PBD). The principal architects were Pei Cobb Freed & Partners. The design, planning, engineering, and consulting firm, Arup, provided project management services for the project and offers images of the tower at its site.
On 22 December 2015, the National Bank of Greece (NBG) announced it will sell the bank to Qatari QNB Group including €910m of subordinate debt for a sum of €2.75bn in cash. The transaction would give the Greek bank a liquidity boost of €3.4bn which it would use to pay down its expensive central bank debt following a number of bailouts.
Subsidiaries
- Finans Emeklilik
- Finans Faktoring
- Finans Invest
- Finans Leasing
- Finans Portföy
- Finans Tüketici Finansmanı
- IBTech
Banking Services
- Consumer Banking
- SME Banking
- Corporate Banking
- Private Banking
References
- ^ Laura Noonan (22 December 2015). "NBG offloads Finansbank to QNB at bargain price". Financial Times. Retrieved 22 December 2015.
- ^ "Qatar's QNB buys Greek NBG's Finansbank for 2.7 bln euros". Reuters. 22 December 2015. Retrieved 23 December 2015.
- http://www.hurriyetdailynews.com/istanbuls-lavish-crystal-tower-sold-to-greek-bank.aspx?pageID=238&nID=63738&NewsCatID=345
- ^ http://www.arup.com/Projects/Soyak_Kristal_Kule.aspx
External links
- No URL found. Please specify a URL here or add one to Wikidata. Template:Tr icon