İŞBANK ANNUAL REPORT 2014

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ACTIVITIES
İŞBANK ANNUAL REPORT 2014 43
Anadolu Hayat Emeklilik is the first publicly traded
company operating in the private pension and life
insurance sector.
designation from the Corporate Governance
Association of Turkey (TKYD). In addition,
TSKB was awarded the prize of “2013 - Best
Corporate Governance in Turkey” by the UK-
based financial magazine World Finance.
On a consolidated basis, TSKB recorded
TL 2.4 billion in shareholders’ equity and
TL 16 billion in total assets at end-2014. In
October 2014, Fitch upgraded TSKB’s long-
term local currency IDR rating “BBB” with
a “stable” outlook while affirming its “AAA
(tur)” long-term national credit rating.
İşbank Germany
A leading financial institution in Europe
with Turkish capital
Founded by İşbank in 1992 in Germany to
engage in commercial banking in Europe,
İşbank Germany is today regarded as one of
the leading financial institutions in Europe
with Turkish capital.
Headquartered in Frankfurt, İşbank
Germany operates at17 branches, 13
of which are located in Germany, with
one each in the Netherlands, France,
Switzerland and Bulgaria. As of year-end
2014, İşbank Germany had EUR 1,018 million
in total assets and EUR 132 million in total
shareholders’ equity on an unconsolidated
basis. İşbank Germany 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.
İşbank Russia
Serving customers at 15 locations in
Russia
İşbank Russia, operating in the Russian
Federation, was acquired and added to
İşbank’s participations portfolio in April 2011
to develop and expand İşbank‘s international
banking activities.
With 342 employees on the payroll at end-
2014, İşbank Russia operates with a total
of 15 service points in the cities of Moscow,
Balakovo, Saratov, Saint Petersburg,
Samara, Novosibirsk and Tatarstan.
As of September 2014, İşbank Russia
had USD 267 million in total assets and
shareholders’ equity of USD 58 million on an
unconsolidated basis, according to Russian
accounting standards.
Anadolu Hayat
Turkey’s leading private pension company
Turkey’s first life insurer, Anadolu Hayat
Emeklilik A.Ş. (Anadolu Hayat) is the first
publicly-held company operating in the
country’s private pension and life insurance
sector.
At the end of 2014, Anadolu Hayat had
achieved the highest contribution and
largest volume of private pension assets
under management, with assets worth TL
10.2 billion and shareholders’ equity of TL
616.3 million on a consolidated basis.
Anadolu Sigorta
The pioneer of Turkish insurance sector
Operating in non-life insurance branches,
Anadolu Anonim Türk Sigorta Şirketi
(Anadolu Sigorta) is one of Turkey’s leading
insurance companies. At the end of 2014,
the company posted TL 3 billion in gross
written premiums, while recording TL 3.5
billion worth of assets and TL 751.7 million in
shareholders’ equity on a consolidated basis.
İşbank controls Anadolu Sigorta indirectly
through its reinsurance subsidiary, Millî
Reasürans.
Millî Reasürans
Uninterrupted reinsurance services
since 1929
Millî Reasürans T.A.Ş. (Millî Reasürans), the
long standing reinsurance company in the
Turkish reinsurance sector, was founded in
1929.
A.M. Best, one of the world’s most respected
insurance industry rating agencies, has
affirmed Milli Reasürans’s financial strength
rating as “B+ (June 2014),” while Standard
& Poor’s Milli Reasürans national credit
rating is “tr AA+ (July 2014).” In line with
the strategy of bringing the reinsurance
know-how and experience acquired in the
domestic market into the global arena, Milli
Reasürans opened a branch in Singapore.
The gross premiums written abroad
accounted for 25% of the company’s total
gross written premiums by the end of 2014.
On an unconsolidated basis, the company’s
total assets amounted to TL 2 billion and
shareholders’ equity totaled TL 753 million
at end-2014.