To help build individual and commercial financial plans that will catalyze Turkey's success.
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Finansbank was established by leading Turkish banker Hüsnü Özyeğin on October 26, 1987. The bank increased its number of branches to 461, and the number of employees to 10,107 by the end of 2009.
Finansbank established Finans Portfolio Management and Finans Real-Estate Investment Trust in 2000. Internet and telephone banking systems were launched the same year, in response to the ever-increasing number of consumer banking customers. The bank has made continuous efforts to improve its internet and telephone banking services, and as a result, its telephone banking service has been chosen Europe's best call center in the European Call Center Awards in 2003.
In 2001, Finansbank sold its shares in Commercial Union Sigorta and Commercial Union Hayat Sigorta to CGU International Insurance PLC. Finans Sigorta A.Ş. (Finans Insurance) was established the same year.
Finansbank started to operate in life insurance sector by receiving establishment approval for Finans Emeklilik ve Hayat A.Ş. (Finans Pension and Life Insurance) from Undersecretariat of Treasury on May 9, 2007. Finans Emeklilik ve Hayat A.S. received Life and Personal Accident licenses in 21.11.2007 and Retail Pension license in 11.04.2008 from Undersecretariat of Treasury.
One of the most important investment projects of the bank, the Operations Center in Ümraniye, Istanbul, was completed in 2000. The new center offered the bank significant cost advantages and improved quality in operational transactions. With the Core Banking Project completed in 2002, Finansbank fully renewed its IT systems, achieving the best technology and service quality in the Turkish banking industry.
As of August 2006, Finansbank was active in ten countries: Turkey, Switzerland, the Netherlands, France, Germany, Belgium, Russia, Romania, Ireland and Bahrain. This earned it the title of the Turkish bank having the most extensive network in foreign countries. In August 2006, Finansbank sold 46% of its shares to the National Bank of Greece (NBG), the largest bank of Greece. According to the sale agreement, Finansbank continued to own its Turkey-based subsidiaries FinansLeasing, FinansInvest, Finans Portfolio Management and IBTech, as well as the foreign-based Finansbank Malta, while Fiba Holding assumed the control of all other activities abroad, including banking activities in the Netherlands, Switzerland, Russia and Romania.
Founded in 1841, NBG is the largest and oldest bank of Greece. Its shares have been traded on the Athens Stock Exchange since 1880, and on the New York Stock Exchange since 1999. Having a market capitalization around 16 billion dollars, NBG operates 568 branches in Greece. Excluding Greece and Turkey, the bank is active in another twelve countries, where it controls seven banks and nineteen financial institutions. The bank is known as an active player especially in Southeast Europe and Eastern Mediterranean. 46.2% of its shares are held by foreign institutional and private investors. The remaining shares are owned by local institutional and private investors, certain local pension funds and public institutions in Greece.
The merger combines NBG's leading position in Southeast Europe with Finansbank's high growth potential in Turkey. The resulting synergy is expected to drive growth and profitability.
Finansbank in Numbers
Finansbank has increased its total assets by 9 % to TL 32,004 million. Loans have been achieved as TL 22,207 million by increasing 16 %. Total deposit
has been realized as TL 18,737 million. Net profit revenues have been realized as TL 1,103 million while net fees and commission revenues have increased by 2 % and reached TL 291 million.
Capital adequacy ratios in the end of the second quarter of 2010 have been achieved as 16.68 % whereas total equity capital has reached TL 3,960 million by registering an increase of 9 %.
Finansbank's profits before taxes and remittance funds in 2010 have been achieved as TL 618 million and gross profit has been achieved as TL 418 million. Net profit in the first half of 2010 has reached TL 344 million whereas the bank's continuing operations net profit on sales in the first half of 2009 has been registered as TL 340 million, excluding the net profit of TL 187 million from subsidiary sales profits in 2009. Additionally, net profit has reached TL 199 million by an increase of 37 % in the second quarter of 2010 while the net profit in the first quarter of 2010 has been TL 145 million.
In the first half of 2010, Finansbank has increased its number of branches to 465 and increased its number of employees to 10,719 by recruiting 600 staff members.