Akbank T.A.Ş. history, company profile (overview) and history video
Akbank T.A.Ş. is a Turkish bank and financial services company headquartered in Istanbul, Turkey. It was founded in 1948 as a privately-owned commercial bank in Adana. The founders of the bank were Hacı Ömer Sabancı, the industrialist brothers Ahmet Sapmaz and Bekir Sapmaz, and the owners of the Adana textile business Milli Mensucat; Nuh Naci Yazgan, Nuri Has, Mustafa Özgür and Seyit Tekin.
Akbank is an abbreviation for the initial name “Adana-Kayseri Bankası” chosen by the bank founders, who were majority born in the city of Kayseri.
In 1950, the Bank opened its first Istanbul branch in the Sirkeci district with the core objective of providing funding to local cotton growers.
In 1954, the Bank relocated its headquarters to Istanbul.
In 1985, BNP-Akbank Inc. was founded. (BNP Paribas-Akbank)
In 1990, the bank was listed on the Istanbul Stock Exchange (BIST).
In 2006, Akbank and Citibank strategic partnership agreement was signed.
As part of the Sabanci Group, Akbank is managed by the parent company Hacı Ömer Sabanci Holding, and the largest shareholders of Akbank are members of the Sabanci family.
Akbank’s core business is banking activities, consisting of corporate and investment banking, commercial banking, SME banking, consumer banking, payment systems, treasury transactions and private banking, and international banking services. In addition to conventional banking activities, the Bank also provides insurance agency operations through Ak Insurance and AgeSA Life And Pension A.Ş.
Non-banking financial services, capital markets and wealth management are provided by Ak Investment, Ak Asset Management, and AkLease.
SUBSIDIARIES
- AKBANK – banking
- AKLease – Leasing
- AK Yatirim (Ak Investment) – Brokerage
- Ak Portföy (AK Asset Management) – Asset Management
- AkÖde – E-money
With more than 12,000 employees and a domestic network of over 700 branches, Akbank T.A.Ş. is considered one of the largest banks in Turkey. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.akbankinvestorrelations.com/en.
**Video published on YouTube by “Companies History“.