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Akbank

Akbank was founded in Adana in January 1948, originally to provide financing for the cotton producers in the region. Growing and developing over time, the Bank relocated its Headquarters to Istanbul. Between 1996-2005, Akbank established subsidiaries in the securities, fund and asset management, insurance and leasing sectors to become a market maker in all areas of finance. Akbank has been conducting overseas activities through its subsidiaries in Germany (Akbank A.G.), the Netherlands (Akbank N.V.), Dubai(Akbank Dubai Limited) and a branch in Malta.

In addition to its core banking activities, Akbank also offers a wide range of retail, commercial, corporate, private banking and international trade finance services. Akbank operates through its Headquarters in Istanbul as well as from its 20 Regional Directorates within Turkey with an extensive distribution network that includes 913 branches and around 15,000 employees as of February 2011. Akbank provides services beyond traditional distribution channels through its innovative branches, such as "Credit Express" branches (only extending consumer loans) and "Big Red House" branches (only extending mortgage loans) as well as through non-traditional channels which include Retail and Corporate Internet Branches, Telephone Banking Center, ATMs (over 2500), BTMs (900), POS terminals (over 260,000) and the latest technology utilizing cell phones and web platforms. Seeking to increase investments in Turkey, Citigroup has selected Akbank as a long-term strategic partner attributable to Akbank's successful performance and strong market position. Today, Citigroup owns 20% of Akbank's shares.

Its strong capital base, stable deposit structure, ability to generate low-cost funding and robust growth in total assets combine to make Akbank the most profitable private sector bank in Turkey.

Akbank posted a net profit of 3.01 billion TL, showing a 10.6% of annual increase. The total loans grew above the sector average, with a 29.4% increase and reached 57.7 billion TL. Akbank's support to SMEs raised to 16.7 billion TL with a 31.2% increase. Akbank split the SME segment under Corporate and Commercial banking segments and provided low cost loans to SMEs by the loans based on funding obtained from EIB and EBRD. NPL ratio, which was 3.8% as of 2009 year-end, dropped to 2.2% as of 2010 year-end and Akbank continued its 100% provisioning policy. Total assets and total deposits of 2010 are 120 billion TL and 71.7 billion TL respectively.