Türk Ekonomi Bankasi
Encyclopedia
Türk Ekonomi Bankası abbreviated TEB, was founded in 1927 by private investors as a regional bank under the name of Kocaeli Bankası T.A.Ş. in İzmit
, Turkey
.
In 1981 the bank was purchased by the Çolakoğlu Group, which changed its name to Türk Ekonomi Bankası A.Ş. in 1982. The bank has enjoyed a reputation for prudent and successful management ever since becoming active in commercial and private banking.
In March 2005, TEB signed a joint venture agreement with the French BNP Paribas SA
, one of the largest financial services groups in the world. TEB has been aggressively expanding its retail network in Turkey ever since and had more than 240 branches as of 2Q 2007. Mr. Varol Civil is the CEO of the bank.
TEB has also two other subsidiaries outside Turkey: TEB NV (The Economy Bank) in the Netherlands, and TEB Sh.A. in Kosovo.
Izmit
İzmit is a city in Turkey, administrative center of Kocaeli Province as well as the Kocaeli Metropolitan Municipality. It is located at the Gulf of İzmit in the Sea of Marmara, about east of Istanbul, on the northwestern part of Anatolia. The city center has a population of 294.875...
, 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...
.
In 1981 the bank was purchased by the Çolakoğlu Group, which changed its name to Türk Ekonomi Bankası A.Ş. in 1982. The bank has enjoyed a reputation for prudent and successful management ever since becoming active in commercial and private banking.
In March 2005, TEB signed a joint venture agreement with the French BNP Paribas SA
BNP Paribas
BNP Paribas S.A. is a global banking group, headquartered in Paris, with its second global headquarters in London. In October 2010 BNP Paribas was ranked by Bloomberg and Forbes as the largest bank and largest company in the world by assets with over $3.1 trillion. It was formed through the merger...
, one of the largest financial services groups in the world. TEB has been aggressively expanding its retail network in Turkey ever since and had more than 240 branches as of 2Q 2007. Mr. Varol Civil is the CEO of the bank.
TEB has also two other subsidiaries outside Turkey: TEB NV (The Economy Bank) in the Netherlands, and TEB Sh.A. in Kosovo.