Financer of Turkey: The success story of Finansbank over 27 years
Finansbank has been ceaselessly operating for 27 years since its inception on October 26th 1987, steadfast with its goals of offering more than traditional banking services to its customers and becoming the Financer of Turkey. Focused on responding to Turkey's growing financial needs as the Financer of Turkey, Finansbank continues to expand its stellar list of accomplishments - as has always been the case- with its customer-oriented strategies and a passionate and vigorous employee force who are experts in their field and committed to their values.
Young, Dynamic and Accomplished
Finansbank, Turkey's young and dynamic bank, began operations in 1987.
For Galaxy Card, which was released in 1999 as the first credit card with installment option, Finansbank launched ''taksit atlat'' (defer installments) and ''puanlarla mil kazanma'' (convert points into miles) campaigns during 2001, and thus introduced critical know-how for the industry. Galaxy Card was later renamed to CardFinans, and in a remarkably short 4-year period, became the brand that has the highest number of Visa cardholders. The brand received the accolades of ''The World's Best'' and ''The World's Fifth'' credit card in the competitions held by Visa International.
Operating on the principle of excellent service and an innovative and proactive approach bore its fruit for Finansbank in 2004, when it became the 5th largest private bank by asset volume in what is considered a very short period for the banking industry.
That same year, Finansbank also became the first Turkish bank to secure a 200-million Dollar syndicated loan, an indicator of the international market trust in Finansbank.
In 2005, Finansbank furthered its international market reputation by entering into what is the largest non-collateralized securitization loan ever obtained in Turkey, one that had a volume of 500 million Dollars and 7 years of maturity.
In August 2006, Finansbank was the Turkish bank with the largest amount of investments and branch network abroad, and was acquired by National Bank of Greece (NBC), Greece's largest bank. This merger operation resulted in a rewarding combination of the leading position of NBG in Southeast Asia and the promising growth potential of Finansbank in Turkey.
In 2006 and 2007, Finansbank demonstrated its commitment to Retail Banking. The bank accelerated its branching efforts and opened 203 new branches, becoming the bank with the fastest growing branch network in the industry.
As part of its collaboration with Turkish Education Foundation (TED) Finansbank has allocated a total of 3 million TL over a decade to the ''Full Scholarship'' program, by which educational expenses of accomplished, but financially disadvantaged students have been covered. Implemented in 16 provincial centers with participation of students from 66 provinces across Turkey, the program-targeted students who had a GPA of 5 from 5th through 9th grade, and granted scholarship based on scholarship exam results.
In 2009, Finansbank was listed in WorldFinance 100, the annual listing by World Finance to recognize the most successful 100 firms globally in their respective businesses, and became the first Turkish bank to be the ''best in class'' in Banking category.
In 2009, Finansbank also released Card Finans Nakit, the ''world's first debit card with installment feature''.
In 2010, CardFinans Nakit was recognized in the ''Best new credit card launch'' category of Cards and Payments Europe, one of the world's most prestigious credit card awards, making Finansbank the first Turkish bank to receive award in this category.
In 2010, Finansbank co-executed with European Investment Fund (EIF) a first-in-kind project in Turkey to help SME customers overcome their collateralization issues.
That same year, Finansbank secured a syndicated loan of 800 million Dollars from a syndication of 29 banks from 15 countries for use in foreign trade finance, the largest syndicated loan ever obtained by Finansbank.
The year 2010 also saw the launch of FIX, the first standard-feature credit card with no ''card maintenance fee''. Finansbank 2010 achievements also include release of VadeKart, which offered business owners the options of forward purchases without ''using cheque or bond'', repayment in installments and deferral of card statement dates.
In 2011, Finansbank's FixCard received the best product award in Best Business Awards, one of the leading award programs in UK. Another recognition for Finansbank came from the competition held by American Society for Training & Development (ASTD), the authority for training and development professionals, in which Finansbank Development Program received the ''AST Excellence in Practice Citation'' award.
Finansbank received another one of ASTD's Excellence in Practice Citation award with its ''Bizce Mümkün'' (Believe in Possibility) Development Program, which it designed in 2010 and implemented in 2011.
In 2012, international collaborations of Finansbank furthered its list of achievements. One of the largest U.S. healthcare and life insurance firms Cigna merged its Turkish operation with Finans Emeklilik, while Finansbank entered into collaboration with one of the world's leading non-life insurance providers Sompo Japan.
The bank also enjoyed a very successful 2012 in the Investment Banking business. Finansbank was the consortium leader for 2012 Halkbank public offering, which was the biggest security sales operation in the history of Istanbul Stock Exchange, and the third biggest of Europe in 2012. In this operation, Finansbank successfully distributed a total of 299 million shares, worth nearly 4.5 billion TL, to 30,272 investors.
Finansbank continued to perform the firsts in the retail-banking segment as well. In October 2012, Finansbank released the web-based deposit product ''Enpara.com'', which allowed customers to earn more and the bank to grow its deposit base faster than the industry average.
In 2013, Finansbank lent support to the leaders of future through its sponsorship of YGA Leadership Program, a project -to which Harvard is the Global Partner- that discovers and trains socially responsible leaders for a better world.
As part of 5th edition of Effie Turkey Awards in 2013, organized by Turkish Advertising Agency and Advertiser Associations, Finansbank received the Golden Effie Award, the paramount award of the competition, in the category of Banks-Insurance and Financial services with Enpara.com, ''Herkese Zengin Faizi'' (Premium Interest Rates to Everyone), and its digital banking business model.
In 2013, the Finansbank Group company Finansinvest was selected ''Best Investment Institution in Turkey'' by Global Finance, the world's most respected business and financial magazine. Finansinvest also ranked the fourth in AON Hewitt's ''Best Employers 2013'' listing, making Finansinvest the first and only Turkish financial institution ever to be listed in Best Employers Survey, which has been carried out since 2006.
Finansbank has been awarded in a total of 8 categories at the globally-renowned International Stevie Business Awards, and was the only bank to sweep three Golden Stevie Awards in 2013 in the field of banking with its Enpara.com offering, which was awarded Golden Stevie in the categories of Best Product Development/Product Management Team, Best Marketing Campaign and Best Product Promotion of the year.
Finansbank internal audit operations conform to international quality standards, as certified by the review that PricewaterhouseCoopers performed according to Institute of Internal Auditors (IIA) criteria. In addition, Finansbank received two awards in the category of Corporate Awareness at TİDE Internal Audit Awareness Awards, organized by Institute of Internal Auditing - Turkey (TİDE) since 2011, further bolstering the bank's role as the Financer of Turkey.
As the Financer of Turkey Finansbank continues to attain new achievements at full pace, the bank's KOBİ Meydan website, a business and communication network for SMEs, received the Silver Award in the category of ''Bank/Financ'' at Horizon Interactive Awards, which evaluates and awards more than one thousand apps in food/restaurant, finance, travel and insurance categories from 25 countries.
Finans Up, the Finansbank career club helping youth enter into the business world and take confident steps up the career ladder, won the Global Business Excellence Award, which is one of the most distinguished business award programs of UK.
Finansbank was also the recipient of ''Most Innovative Visa Product: Simply One'' of Visa 2013 Achievement Awards, handed out at Vizyonist '14 Conference, for its Nurse Card offering.
Finansbank currently delivers online application solutions for banking services through Financial Services Group companies Finans Leasing, Finans Yatırım, Finans Portföy Yönetimi, Cigna Finans Emeklilik ve HayaT A.Ş., Finans Factoring, and the tech firm IBTech, as well as via e-Invoice Integration, e-Invoice private service provider, e-Invoice archiving, e-Book application and e-Trade portal, and continues to provide creative, swift and easy solutions for the financial needs of its customer through e-Finance subsidiaries co-founded with Cybersoft.
Finansbank in Figures
Finansbank derived 344 million TL in profit during Q1 2014.
Finansbank total loans rose to 45 billion 741 million TL, total assets to 69 billion 348 billion TL and customer deposit portfolio to 37 billion 615 million TL.
Finansbank total equities now stand at 8 billion 49 million TL.