İŞBANK ANNUAL REPORT 2014

ACTIVITIES

İŞBANK

ANNUAL REPORT 2014

International Banking

İşbank continued to improve and

diversify correspondent bank

relationships in 2014.

Through a correspondent bank network

comprised of nearly 1,500 banks located in

126 different countries, İşbank:

provided customers with foreign trade

products and services, and

intermediated in foreign trade

transactions between Turkey and over

230 different countries.

In 2014, the share of İşbank in Turkey’s total

export and import transactions increased

to 13.4% and 9.9% respectively, while the

Bank’s total share in total foreign trade

transactions market amounted to 11.3%.

İşbank signed new agreements to provide

medium and long term financing under

the insurance of export credit agencies

(ECAs) in order to meet customer financing

needs related to the increasing import of

investment goods and energy projects.

Accordingly, the Bank signed framework

agreements with Germany’s DZ Bank AG

and Taiwan’s Export-Import Bank of the

Republic of China in 2014. In addition,

maturities of the two separate loan

agreements signed with the Japan Bank

for International Cooperation (JBIC) for

renewable energy project finance and

import financing were extended for one

year; the loan agreement signed with the

Export Import Bank of Korea (KEXIM) to

provide loans to Korea related companies

was extended for two years.

Loans obtained from ECAs and from

correspondent banks under ECA cover

increased by over 11% in terms of

utiliziation by end-2014 compared to the

previous year.

To meet the financing needs of its exporter

customers, İşbank obtained two separate

credit facilities for 1-year maturity and USD

25 million each from The Royal Bank of

Scotland, one of the correspondents in the

UK, to be used in pre-export financing; and

Doha Bank, a Qatari correspondent bank,

for foreign trade financing purposes.

İşbank raises the Bank’s international

recognition via SIBOS meetings.

İşbank attended SIBOS (SWIFT International

Banking Operations Seminar) events and

meetings organized by SWIFT (Society

for Worldwide Interbank Financial

Telecommunication) in Boston. Following

the organizations in Vienna, Hong Kong,

Amsterdam, Toronto Osaka and Dubai,

İşbank participated in SIBOS with its own

stand for the seventh time and attracted

a great deal of attention. In the course of

the meetings held during the SIBOS event,

İşbank conducted corporate promotion

activities, shared information about the

Bank’s products and services, and evaluated

mutual cooperation opportunities.

İşbank received new awards for the

Bank’s international service quality.

İşbank continuously works to further

enhance its high service quality in relation

to customers’ international money

transfers.

Thanks to high straight through processing

rates, in parallel with the Bank’s technology

investments in this field, İşbank was

once again awarded by its correspondent

institutions in 2014. Citibank NA,

Commerzbank AG, HSBC Bank Plc, JP Morgan

Chase Bank NA and Wells Fargo Bank NA

presented STP quality awards to İşbank.

İşbank had a successful year in

obtaining external funding with two

new syndicated term loan facilities.

İşbank obtained syndicated term loans

amounting to USD 2.5 billion through

agreements signed in May and September

2014. The Bank continued to support the

trade finance transactions of companies in

the real sector and kept contributing to the

development of Turkish economy.

İşbank and correspondent banks signed

Memoranda of Understanding towards

cooperation.

As part of efforts to develop business with

correspondent banks in 2014, İşbank signed

memoranda of understanding with South

Korea’s Woori Bank and Georgia’s Bank

of Georgia; the goal is to develop areas

of cooperation especially in foreign trade

finance and to mutually provide customers

with the opportunity to access a wide range

of banking services.

İşbank’s market share in total foreign trade reached 11.3%.