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İş Bank

İş Bank is Turkey's first truly national bank following the promulgation of the Republic. It's foundation is mandated by Atatürk and dates back to 26 August 1924. İş Bank boasts continuous growth committed to its founding principles, restoring its strength and vigor with each passing year. As of 31.12.2010, 39.29% of İş Bank shares are held by İş Bank's own private Pension Fund, 28.09 % are Ataturk's shares that are represented by Republican People's Party and 32.62 % are free float. In May 1998, 12.3% of the Bank's total shares previously held by the Turkish Treasury had been sold to national and international investors in a highly successful public offering. Today the shares are listed on the Istanbul (ISE) and London Stock Exchanges.

Since its establishment in 1924, İş Bank has occupied a very important place not only in the Turkish financial sector but also in manufacturing industries. The Bank has pioneered many new areas of business through investments and equity participations in the industrial and financial services sectors. Still, İş Bank is holding direct equity in 27 companies operating in finance, glass, telecommunications and other industry and service groups and controls 90 companies indirectly.

İş Bank has the largest nationwide coverage among private banks with 1,142 branches.( of which 15 are located in other countries) and 3,450 ATMs throughout Turkey. Within the context of the Bank's growth strategy in the neighboring geography which has high banking potential and potential for creating synergies, the share purchase agreement was signed for the full acquisition of Bank Sofia operating in Russia and the transfer process has been initiated. In 2010, the Bank opened a representative office in Egypt. The Bank will start to operate a branch in each of Iraq's Baghdad and Arbil cities, and initiatives regards to opening a representative office in Syria are about to be finalized.

İşbank, whose consolidated assets reached TL 151 billion, posted a TL 3.2 billion net consolidated profit in 2010. İşbank strengthened its financial structure by raising its shareholders' equity to TL 19 billion and maintained its market leadership among private banks with its deposits amounting to TL 88 billion. Also, the Bank managed to increase total loans by 31 percent when compared to the previous year and reached TL 69 billion.