About Us

Finansbank was established by leading Turkish banker Hüsnü Özyeğin on October 26, 1987. Today, the bank operates an extensive network of branches around Turkey.

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.

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.

In March 2007, the number of branches reached 380 and the number of ATMs passed the 1000 mark. In 2006, Finansbank achieved record growth in terms of the number of its branches. This growth process is aimed at establishing a broader network that will offer closer and uninterrupted services to a growing clientele, and will continue in 2007.

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 Figures

In the third quarter of 2006, Finansbank’s total assets increased by 36% in real terms over the beginning of the year, reaching YTL 16,768 million. Loan growth continued as well: In the third quarter of 2006, total loan volume increased by 33% compared to the beginning of the year, and reached YTL 10,128 million. Loan growth was mainly driven by consumer loans, followed by SME loans. Consumer loans other than credit cards increased by 86% and SME loans 54% in the first three quarters.

In 2006, Finansbank significantly expanded its loan portfolio without compromising profitability. By the end of the third quarter, the bank's net interest income increased by 11% over the same period in 2005, reaching YTL 687 million.

During the same period, Finansbank's net income from fees and commissions increased by 40% and reached YTL 294 million. The bank continued to expand its branch network rapidly: Total number of branches increased from 208 at the beginning of 2006 to 334 by March 2007. Beginning to reap the benefits of this growth, Finansbank's Turkish Lira deposits increased by 29%, to YTL 7,758 million.

At the end of this successful period, Finansbank's net profit in the third quarter of 2006 increased by 157% over the same period in 2005, to YTL 700 million. As a result of this improvement in profitability, Finansbank's total equity increased by 42% over the end of 2005, reaching YTL 1,984 million. This equity growth pushed the bank’s capital adequacy ratio from 11.33% in Q2 to 17.21% in Q3.