Sümerbank was a Turkish

Turkey

Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...

 bank and industrial

Industry

Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...

 holding company

Holding company

A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...

. On 11 January 2002, Oyak Bank acquired Sümerbank and the combined bank is now known under the Oyak Bank name.

Textile plant

Sümerbank began as a textile plant.

In 1932, President Atatürk

Mustafa Kemal Atatürk

Mustafa Kemal Atatürk was an Ottoman and Turkish army officer, revolutionary statesman, writer, and the first President of Turkey. He is credited with being the founder of the Republic of Turkey....

 and Prime Minister Ismet Inonu

Ismet Inönü

Mustafa İsmet İnönü was a Turkish Army General, Prime Minister and the second President of Turkey. In 1938, the Republican People's Party gave him the title of "Milli Şef" .-Family and early life:...

 secured credit from the Soviet Union

Soviet Union

The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....

 for the construction of the Kayseri Plant. The first complex (plant) in Kayseri

Kayseri

Kayseri is a large and industrialized city in Central Anatolia, Turkey. It is the seat of Kayseri Province. The city of Kayseri, as defined by the boundaries of Kayseri Metropolitan Municipality, is structurally composed of five metropolitan districts, the two core districts of Kocasinan and...

, 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...

opened in September 1935.

When it was built, Sümerbank's textile plant produced most qualified and relatively cheap textile products of that time.

Sümerbank was the cornerstone of Atatürk's economic revolution. The half a century of state-led industrialization represented by Sümerbank and its subsidiaries were closed and became a historical milestone in 2002.