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İŞBANK
ANNUAL REPORT
2010
Story of 86 Years...
Pioneering Activities and
Innovations
1924 – 1930
1931 – 1940
1951 – 1960
1971 – 1980
Creates the habit of saving…
As the Turkish Republic’s first
national bank, İşbank, established
with TL 1 million capital, 2 branches
and 37 employees, plays a significant
role in the country’s economic
development and industrialization
process during the Republic’s early
years when capital accumulation
was low.
İşbank presents Turkish society
with its first money box in 1928 in
order to create and develop the habit
of saving in Turkey. Established
for the productive use of even the
smallest amount of savings and
its subsequent transfer to help
economic development, İşbank plays
a significant role in establishing and
facilitating the practice of saving
throughout the country.
In 1925, İşbank establishes Anadolu
Anonim Türk Sigorta Şirketi as
Turkey’s first national insurance
company. In 1929, the first
reinsurance company, Milli Reasürans
T.A.Ş. is founded as an İşbank
subsidiary to conduct domestic
reinsurance transfers of insurance
companies operating in Turkey.
Opens up to the world...
İşbank starts opening branches and
growing all across Turkey. In 1932,
it becomes the first Turkish bank
to expand its operations abroad
by opening branches in Hamburg,
Germany and Alexandria, Egypt.
With the expansion of its domestic
and foreign branch network, İşbank’s
workforce grows to 799 in 1940.
In 1935, to meet the country’s
growing demand for basic glass
products, and following Atatürk’s
instructions, the first glass production
facility is opened in Paşabahçe by
İşbank, laying the foundations of
Şişecam Group.
Provides resources for main
industrial sectors through its
subsidiaries…
In 1943, İşbank’s savings deposits
account for 34% of the total savings
deposits in Turkey; the Bank
increases the financial support for the
development of the manufacturing
industry. With a stake of about
20%, İşbank is one of the founding
members of Türkiye Sanayi ve
Kalkınma Bankası A.Ş. (TSKB),
the first private investment and
development bank in Turkey. TSKB
is founded in 1950 to finance private
industrial investments and promote
development.
Expands its branch network
to reach out to farmers with
its banking services…
As a result of growing agricultural
activity and production, İşbank
expands its branch network
nationwide to meet the increasing
needs and demands of farmers.
İşbank’s number of branches rises
to 244 in 1960, up from 81 in 1951.
Towards the end of 1950s,
İşbank’s market share among
other private banks has reached
50% in terms of total assets, total
loans and deposits.
Contributes to the
development of capital
markets…
In 1972, İşbank’s savings deposit
market share reaches nearly 25%
among all banks in Turkey and
almost 40% among private banks.
With the launch of the Education
Services Department in 1972, İşbank
becomes the first bank investing
in this field. The inception of this
Department acknowledges that
educational activities have become
an inseparable part of working life.
Promoting industrial growth since
its founding, İşbank also tasks itself
with developing Turkish capital
markets and launches Securities
Department. For the first time a
bank in Turkey starts trading in
securities.
In the following years, the Securities
Department intermediates the first
privatization operation in Turkey
and launches the first investment
fund and Type A investment fund;
it also performs the first gold
deposit transaction. With İşbank’s
investment account system, all
capital market instruments are
supplied nationwide to small
investors.
Operating with over 750 branches
in 1976, İşbank moves into its new
headquarters in Ankara.
By 1980, with over 850 İşbank
branches, there are no cities in
Turkey without an İşbank branch.
1941 – 1950
Strengthens its
organizational structure…
İşbank strengthens its financial
structure with capital increase.
Towards the end of 1960’s
İşbank’s capital reaches TL 40
million.
With a 64% stake, İşbank becomes
one of the co-founders of Sınaî
Yatırım ve Kredi Bankası, founded
in 1963 to cater to the medium-
term business finance needs of the
national industry.
Accelerating its organizational
development, İşbank puts its
Social Services and Public
Relations Departments and
Automation Centers into operation
towards the end of 1960s while
expanding its branch network.
1961 – 1970