Denizbank
Encyclopedia
DenizBank A.Ş. is a private bank in Turkey
controlled 99.79% by the French
- Belgian
bank Dexia
since May 2006.
DenizBank was established in 1938 as a state-owned bank to help finance the then emerging Turkish maritime
industry. In 1992, the Turkish government decided to consolidate a number of state-owned banks, and DenizBank merged into Emlakbank.
In 1997, a banking license was auctioned by the government under the name DenizBank without any significant assets except three branch buildings. Zorlu Holding
acquired the bank from the Privatization Administration for $70 million in 1997, and operations commenced in September of that year. With the revitalization program initiated, new branches were opened under the new corporate identity. Expansion was supported by acquiring some branch offices from other banks, including Tarişbank in 2002. It went international by establishing or acquiring banks in Austria
, Russia
and the Turkish Republic of Northern Cyprus
. Furthermore, DenizBank extended its product range by adding services like investment banking, brokerage, factoring and leasing, which all were formed under the leadership of DenizBank to "Deniz Financial Services Group". The group of 13 companies employs more than 10,000 people.
On May 31, 2006, the Belgian bank Dexia purchased 75% the stake for US$ 2.437 billion from Zorlu Holding
and announced that the bank’s name would not change. The remaining 25% of the shares is being held publicly. DenizBank has 489 branch offices as of 20.09.2010.
The financially troubled main stakeholder Dexia announced on October 10 that DenizBank will be put up for sale.
, certain businesses were required to be sold. The ones being sold from the DFSG are listed as below.
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
controlled 99.79% by the French
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
- Belgian
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
bank Dexia
Dexia
Dexia N.V./S.A., also referred to as the Dexia Group, is a Belgian-French financial institution active in public finance, providing retail and commercial banking services to individuals and SMEs, asset management, and insurance...
since May 2006.
DenizBank was established in 1938 as a state-owned bank to help finance the then emerging Turkish maritime
Sea
A sea generally refers to a large body of salt water, but the term is used in other contexts as well. Most commonly, it means a large expanse of saline water connected with an ocean, and is commonly used as a synonym for ocean...
industry. In 1992, the Turkish government decided to consolidate a number of state-owned banks, and DenizBank merged into Emlakbank.
In 1997, a banking license was auctioned by the government under the name DenizBank without any significant assets except three branch buildings. Zorlu Holding
Zorlu Holding
Zorlu Holding is one of the biggest corporate groups in Turkey. The group was founded by the late Hacı Mehmet Zorlu and is currently headed by two co-chairmen, Ahmet Nazif Zorlu and Zeki Zorlu....
acquired the bank from the Privatization Administration for $70 million in 1997, and operations commenced in September of that year. With the revitalization program initiated, new branches were opened under the new corporate identity. Expansion was supported by acquiring some branch offices from other banks, including Tarişbank in 2002. It went international by establishing or acquiring banks in Austria
Austria
Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the...
, Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
and the Turkish Republic of Northern Cyprus
Turkish Republic of Northern Cyprus
Northern Cyprus or North Cyprus , officially the Turkish Republic of Northern Cyprus , is a self-declared state that comprises the northeastern part of the island of Cyprus...
. Furthermore, DenizBank extended its product range by adding services like investment banking, brokerage, factoring and leasing, which all were formed under the leadership of DenizBank to "Deniz Financial Services Group". The group of 13 companies employs more than 10,000 people.
On May 31, 2006, the Belgian bank Dexia purchased 75% the stake for US$ 2.437 billion from Zorlu Holding
Zorlu Holding
Zorlu Holding is one of the biggest corporate groups in Turkey. The group was founded by the late Hacı Mehmet Zorlu and is currently headed by two co-chairmen, Ahmet Nazif Zorlu and Zeki Zorlu....
and announced that the bank’s name would not change. The remaining 25% of the shares is being held publicly. DenizBank has 489 branch offices as of 20.09.2010.
The financially troubled main stakeholder Dexia announced on October 10 that DenizBank will be put up for sale.
Deniz Financial Services Group
as of 28.01.2010| No | Name of Company | Country | Industry |
|---|---|---|---|
| 1 | DenizBank A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Banking |
| 2 | DenizBank AG | Austria Austria Austria , officially the Republic of Austria , is a landlocked country of roughly 8.4 million people in Central Europe. It is bordered by the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the... |
Banking |
| 3 | CJSC Dexia Bank | Russia Russia Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects... |
Banking |
| 4 | Deniz Finansal Kiralama A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Financial Leasing |
| 5 | Deniz Faktoring A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Factoring |
| 6 | Deniz Yatırım Menkul Kıymetler A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Securities |
| 7 | Intertech Bilgi İşlem ve Pazaralama Ticaret A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
IT / Computing |
| 8 | Ekspres Yatırım Menkul Değerler A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Securities |
| 9 | Deniz Portföy Yönetimi A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Portfolio Management |
| 10 | Deniz Kültür Sanat Yayıncılık Ticaret ve Sanayi A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Culture & Art Publishing |
| 11 | Deniz Yatırım Ortaklığı A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Trust Company |
| 12 | Euro Deniz International Banking Unit Limited | Turkish Northern Republic of Cyprus | Offshore Banking |
| 13 | Pupa Gayrimenkul Kiralama ve Yönetim Hizmetleri A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Real Estate Leasing and Management Services |
Companies Sold Under Agreement With The European Union
Due to Dexia's agreement with the European UnionEuropean Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
, certain businesses were required to be sold. The ones being sold from the DFSG are listed as below.
| No | Name of Company | Country | Industry |
|---|---|---|---|
| 1 | Deniz Emeklilik ve Hayat A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Pension and Life Insurance |
Companies Sold
| No | Name of Company | Country | Industry |
|---|---|---|---|
| 1 | Deniz Türev Menkul Değerler A.Ş. | Turkey Turkey Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe... |
Securities |
Products and Services
- Retail Banking
- Private Banking
- Business Banking
- Agriculture Banking
- Corporate Banking
- Commercial Banking
- Public Finance .
External links
- Official website
- Group Dexia official website
- DenizYatırım Menkul Kıymetler A.Ş. (Deniz Investment Securities) (in Turkish, with English language available)
- DenizBank AG (in German)
- EkspresInvest Menkul Kıymetler A.Ş. (in English)
- CJSC Dexia Bank Russia (in English)
- Deniz Emeklilik ve Hayat A.Ş. (Deniz Pension and Life Insurance) (in Turkish only)
- DenizBank Bahrain
- Intertech Bilgi İşlem ve Pazarlama Ticaret A.Ş. (in English)