Subsidiaries
As of end-2011, İşbank has direct participation in 26 companies that are operating in the finance, glass, telecommunications and service sectors.
As of end-2011, İşbank has direct participation in 26 companies that are operating in the finance, glass, telecommunications and service sectors.
Over the years since its inception, İşbank has taken equity stakes in a total of 291 companies and has divested itself of 265 of them over time. As of year-end 2011, the Bank has direct participations in 26 firms. Currently, İşbank has direct or indirect stakes in 106 companies.
67.6% of participations portfolio is traded on the ISE National Market.
Constituting 67.6% of İşbank’s participations portfolio, Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB), Anadolu Hayat Emeklilik A.Ş., İş Finansal Kiralama A.Ş., İş Gayrimenkul Yatırım Ortaklığı A.Ş., İş Yatırım Menkul Değerler A.Ş. and Türkiye Şişe ve Cam Fabrikaları A.Ş. are public companies traded on the ISE National Market. The ratio of the participations portfolio to İşbank’s total assets stands at 4%, at the year end 2011.
An equity stake policy focused on productivity and profitability
İşbank places great importance on enhancing the efficiency of its participations portfolio when making its equity investment decisions. In line with this investment strategy, it focuses on the financial services industry and keeps an eye on investment opportunities with high growth and return potential.
Financial services subsidiaries enrich the range of products and services which İşbank offers while also increasing its competitive strength.
Financial services
İşbank has financial services subsidiaries that are active in such business lines as banking, insurance, private pensions, capital market brokerage, portfolio management, venture capital, factoring, reinsurance, financial leasing, asset management, securities investment trust, investment banking and real estate investment trust.
Financial services subsidiaries enrich the range of products and services which the Bank offers to customers in different business lines while also creating cross and complementary product delivery and sales opportunities.
TSKB
Turkey’s first private investment and development bank
One of the pioneers of the Turkish banking industry, Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) has been playing a key role in Turkey’s economic development ever since its inception in 1950. Its economic, environmental and social contributions to the country have earned TSKB the appreciation and support of its stakeholders.
TSKB provides project finance, investment banking and corporate finance services along with capital market brokerage services, financial leasing and portfolio management services to an extensive customer base. TSKB makes increasing contributions to the sustainable development of the Turkish economy through long-term funding of investment projects, customer-specific consultancy and brokerage services. TSKB takes into consideration the environmental impact of the loans which it extends. Making use of lines of credit obtained from supranational agencies, the Bank provides resources for renewable energy, energy efficiency, environmental and SME investments in a variety of sectors.
Having been cited in 2008, 2009 and 2010 for its contributions to sustainable banking in the Emerging Economies category in Eastern Europe under the auspices of the Sustainable Banking Awards conducted jointly by Financial Times and the International Finance Corporation (IFC), in 2011 TSKB once again brought this significant “Sustainable Bank of the Year” award home to Turkey.
On an un-consolidated basis, TSKB showed TL 1.4 billion in shareholders’ equity and TL 9.5 billion in total assets at end-2011. In its November 2011 report, Fitch Ratings assigned TSKB “BB+” long-term foreign currency IDR and long-term local currency IDR ratings and an “AA+(tur)” long-term national credit rating.
www.tskb.com.tr
İşbank GmbH
A leading financial institution in Europe with Turkish capital
Founded by İşbank in 1992 in Germany to engage in commercial banking, İşbank GmbH is today regarded as one of the leading financial institutions active in Europe with Turkish capital.
Headquartered in Frankfurt, İşbank GmbH operates through 16 branches of which twelve are located in Germany and one each in the Netherlands, France, Switzerland and Bulgaria. As of year-end 2011, İşbank GmbH showed total assets worth EUR 932 million and total shareholders’ equity worth EUR 107 million. The Bank provides trade finance, corporate banking and retail banking products and services to customers both in Turkey and Europe as well as financing services for real estate properties in Turkey.
www.isbank.de
İşbank Russia
CJSC İşbank (İşbank Russia), which operates in Russia, was purchased and added to İşbank’s participations portfolio in April 2011 so as to develop and expand İşbank’s international banking activities.
İşbank Russia operates with 360 employees and a total of 15 branches (6 main and 9 affiliates) located in six cities: Moscow, Balakovo, Saratov, Saint Petersburg, Samara and Novosibirsk.
As of end-2011, İşbank Russia showed total assets worth USD 164 million and shareholders’ equity worth USD 25 million.
www.isbank.com.ru
Anadolu Hayat
Turkey’s leading private pension company
Turkey’s first life insurer, Anadolu Hayat Emeklilik A.Ş. (Anadolu Hayat) is the only publicly-held company operating in the country’s private pension and life insurance sector.
As of end-2011, Anadolu Hayat had more private pension accounts and private pension assets under management than did any other participant in the sector. As of end-September, the company showed unconsolidated assets worth TL 5,648 million and shareholders’ equity worth TL 433 million.
www.anadoluhayat.com.tr
Anadolu Sigorta
One of Turkey’s leading non-life insurers
Operating in non-life insurance, Anadolu Anonim Türk Sigorta Şirketi (Anadolu Sigorta) is one of Turkey’s leading general insurance companies. In the year-end 2011, it wrote TL 1,926 million in premiums. As of end-September, the company showed unconsolidated assets worth TL 2,089 million and shareholders’ equity worth TL 728 million.
İşbank controls Anadolu Sigorta indirectly through its reinsurance subsidiary, Milli Reasürans.
www.anadolusigorta.com.tr
Milli Reasürans
Uninterrupted reinsurance services since 1929
One of the oldest reinsurance firms active in Turkey today, Milli Reasürans T.A.Ş. (Milli Reasürans) was founded in 1929. On its own, Milli Reasürans provides the Turkish insurance industry with about 25% of its overall reinsurance requirements.
In September 2011, A.M. Best, one of the world’s most respected insurance industry rating agencies, confirmed Milli Reasürans’ financial strength rating as “B++”. In August, Standard & Poor’s confirmed Milli Reasürans’ national credit rating as “tr AA”.
In line with its strategy of taking the reinsurance knowledge and experience which it has acquired in its domestic market into the global arena, Milli Reasürans has opened a branch in Singapore. As of end-September, the company showed unconsolidated assets worth TL 1,622 million and shareholders’ equity worth TL 537 million.
www.millire.com
İş Leasing
A pioneer in the financial leasing sector
İş Finansal Kiralama A.Ş. (İş Leasing) is one of the pioneers of the leasing sector in Turkey. The company’s mission is to give priority to funding SMEs, to develop and maintain a broad-based and high-quality portfolio and to satisfy customers’ demands with effective, fast, high-quality solutions.
As of end-2011, İş Leasing had total consolidated assets worth TL 2,242 million and TL 520 million in shareholders’ equity. Its portfolio of financial leasing contracts had an aggregate value of TL 1,398 million.
In its December 2011 report, the international credit rating agency Fitch Ratings confirmed İş Leasing’s long-term foreign currency rating as “BBB-”, its long-term local currency IDR as “BBB-” and its long-term national credit rating as “AAA(tur)”.
www.isleasing.com.tr
İş GYO
One of Turkey’s biggest real estate investment trusts
İş Gayrimenkul Yatırım Ortaklığı A.Ş. (İş GYO) maintains a portfolio of real estate properties whose quality it strives constantly to enhance while also developing new projects aimed at further expanding and diversifying that portfolio.
As of end-2011, İş GYO had total assets worth TL 1,161 million and TL 1,034 million in shareholders’ equity.
www.isgyo.com
İş Yatırım ranks first among all brokerages in terms of ISE stock market transaction volumes. It is also a leading market maker in the TurkDEX
İş Yatırım
A capital market pioneer and leader
İş Yatırım Menkul Değerler A.Ş. (İş Yatırım) is the first brokerage house in Turkey that is publicly traded. The company is an active provider of capital market instruments trading, investment consultancy, asset management, corporate finance products and services in national and international markets.
İş Yatırım ranks first among all brokerage houses in Turkey in terms of ISE stock market transaction volumes. It is also a leading market maker in the TurkDEX.
A pioneer and leader in Turkey’s capital markets, İş Yatırım’s principal business activity consists of providing customers with corporate finance, brokerage, investment consultancy and portfolio management services. The superior success of the company’s capital market services was recognized for the second year in a row in 2011 when İş Yatırım received the “Turkey’s Best Investment Bank” award from Euromoney, one of the world’s most highly respected financial magazines as part of that publication’s annual “Awards for Excellence” program.
In November 2011, İş Yatırım’s “AAA” long-term national credit rating was confirmed by the international rating agency Fitch Ratings. İş Yatırım remains the only brokerage house in Turkey that has received an internationally recognized rating. As of September 2011, İş Yatırım had total assets worth TL 3.6 billion and TL 678 million in shareholders’ equity.
www.isyatirim.com.tr
Türkiye Şişe ve Cam Fabrikaları A.Ş. (Şişecam) is the holding company of the Şişecam Group, which consists of 64 companies active in the areas of flat glass, glassware, glass packaging and chemicals.
Glass
Şişecam
The founder and unrivaled leader of the Turkish glass industry
Türkiye Şişe ve Cam Fabrikaları A.Ş. (Şişecam) is the holding company of the Şişecam Group, which consists of 64 companies active in the areas of flat glass, glassware, glass packaging and chemicals.
The Şişecam Group owns 101 production facilities located in Turkey as well as in Russia, Bulgaria, Bosnia-Herzegovina, Egypt, Italy, Ukraine and Georgia. According to September 2011 figures, members of the Şişecam Group produced 35% (as measured on a tonnage basis) of their combined glass output outside Turkey while 48% of their total turnover was from international sales. Group companies continuously boost their production strengths through investments aimed at creating new capacity.
The Şişecam Group is acknowledged to be one of the world’s and Europe’s leading companies in the glassmaking industry. As measured by production capacity, the Group ranked among the world’s top ten producers in its respective business lines while in European league tables it was in the top five.
As of September 2011, Şişecam had total consolidated assets worth TL 8.1 billion and TL 4.9 billion in shareholders’ equity.
www.sisecam.com.tr
Telecommunication
Avea
Turkey’s only GSM 1800 mobile communications operator
As of September 2011, Avea İletişim Hizmetleri A.Ş. (Avea) controlled a 19.3% share of the mobile communications market in Turkey with approximately 12.5 million subscribers.
According to the company’s IAS-compliant financial statements, as of September 2011 Avea had total assets worth TL 6,869 million and TL 711 million in shareholders’ equity.
Offering its customers innovative, distinctive and high-added-value technology products and services, Avea constantly invests in projects to expand its network infrastructure and to further develop its information technology and R&D capabilities.
www.avea.com.tr
Others
Nemtaş
A logistical services provider
Nemtaş Nemrut Liman İşletmeleri A.Ş. (Nemtaş) is a shipping line that is active in shipping management, chartering and brokering. The company owns and operates a fleet of five vessels with a total capacity of 252,959 DWT with which it provides logistical services
Nemtaş controls a 54% stake in Gemport Gemlik Liman ve Depolama İşletmeleri A.Ş. (Gemport), Turkey’s first privately-owned port operations company. At end-2011, the company had total assets worth TL 354 million and TL 228 million in shareholders’ equity. As of the same date, Gemport had total assets worth TL 189 million and TL 167 million in shareholders’ equity. Gemport is the biggest port operating in the South Marmara region. It ranked in fifth place in terms of container handling and in second place in terms of vehicle handling in 2011.
www.nemtas.com.tr