International Banking
İşbank continued to improve and diversify its relations
with correspondent banks in 2013.
The Bank;
- offered its customers foreign trade products and services,
- intermediated in foreign trade transactions between Turkey
and 243 different countries
with its correspondent network established in 128 countries
with more than 1,600 banks.
İşbank signed a cooperation agreement with The Bank of Tokyo
Mitsubishi UFJ Ltd., Japan, covering particularly the fields of
foreign trade financing, syndicated loans and ECA loans as well
as retail and corporate banking fields.
In addition to this, a memorandum of agreement was signed
with Cihan Bank for Islamic Investment and Finance, Iraq, to
establish a cooperation which aims to mutually provide a wide
range of banking services to each institutions’ customers.
İşbank signed new agreements to provide medium and long
term financing under the assurance of export credit agencies
in order to meet its customers financing needs related to
increasing import of investment goods and energy projects.
Within this scope, framework agreements were signed with the
Germany based Bayerische Landesbank AG and Landesbank
Berlin AG in February and March 2013 respectively.
İşbank attracted considerable attention in SIBOS
meetings.
İşbank attended SIBOS (SWIFT International Banking Operations
Seminar) meetings organized by SWIFT (Society for Worldwide
Interbank Financial Telecommunication) in Dubai between
September 16
th
and 19
th
, 2013. İşbank, participated SIBOS with
its own stand for the sixth time after the meetings in Vienna,
Hong Kong, Amsterdam, Toronto and Osaka, and attracted a
great deal of attention. İşbank conducted corporate promotion
activities and also shared information concerning its products
and services and evaluated cooperation opportunities.
4 new awards for İşbank’s international service quality
İşbank continuously enhances its high service quality regarding
its customers’ international money orders.
The Bank continued to be rewarded by its correspondents in
2013, thanks to its accurate transaction rates in parallel with its
technology investments in this field. İşbank has been rewarded
with the STP quality award by Commerzbank NA, Deutsche
Bank AG, Citibank NA and JP Morgan Chase Bank NA.
Another successful year in obtaining external funds
İşbank obtained syndication loans amounting more than
USD 2.5 billion through the agreements signed in May and
September 2013. With these resources, the Bank supported
financing of foreign trade transactions of companies in the real
sector and maintained its contribution to the development of
Turkey’s economy.
Eurobond issuances confirm İşbank’s strong reputation
and credibility.
In 2013, İşbank issued Eurobonds with a nominal amount of
USD 500 million and a maturity of 5.5 years due to the low
interest rates in global markets and high demand received from
investors. The issue was completed in April 2013, having a
3.75% coupon rate and a yield of 3.89%.
Following the USD 500 million issue in April 2013, İşbank made
an additional Eurobond issue bearing the same conditions,
upon a demand that was four times the amount issued, and
thus provided an additional funding to İşbank with a nominal
amount of USD 250 million with a yield of 3.55%.
In brief
İşbank intermediated in
foreign trade transactions
carried out between Turkey
and 243 different countries.
İşbank issued Eurobonds with
a nominal amount of USD 1.25
billion.
The STP quality award was
presented to İşbank by
Commerzbank NA, Deutsche
Bank AG, Citibank NA and JP
Morgan Chase Bank NA.
Activities
47
İşbank
Annual Report 2013
