DenizBank was founded in 1938 as a state-owned bank in order to provide funding for the developing Turkish maritime sector. In early 1997, the Bank was acquired by Zorlu Holding from the Privatization Administration as a banking license. It was acquired in October 2006 from the Zorlu Group by Dexia, a leading financial group in Europe; DenizBank currently operates under the Dexia umbrella.
From a solo bank to a large financial services group
Following privatization, parallel to its new corporate identity, the Bank implemented a “return to life” program that encompassed recruitments and new branch openings. These initiatives were undertaken in line with a five-year strategic plan; subsequently, all objectives in the plan were accomplished. This growth was partially accomplished by buying back some of the branches that were transferred to the Savings Deposit Insurance Fund and the acquisition of Tarişbank by the Group at the end of 2002. In order to complement its existing banking products and services, DenizBank also acquired factoring, leasing, investment and asset management companies as well as banks in Austria and Russia.
Thanks to the support of its solid capital base and financial strength as well as the rapid growth of the overall banking sector, DenizBank reinforced its existing market position in very short order. DenizBank Financial Services Group was formed in 2003 to create a financial supermarket able to offer various financial services under the same roof.
All contemporary financial services under one roof
In addition to DenizBank, DenizBank Financial Services Group consists of eight domestic and two international financial subsidiaries, a branch in Bahrain and EuroDeniz International Banking Unit Ltd.(Eurodeniz Off-Shore Bank Ltd. until February 2009), an off-shore banking subsidiary in the Turkish Republic of Northern Cyprus. DenizYatırım Securities, EkspresInvest Securities, DenizInvestment Trust, DenizPortfolio Management, DenizTürev Securities, DenizLeasing, DenizFactoring, DenizEmeklilik, Intertech and DenizKültür are the domestic companies of the Group; DenizBank AG and CJSC Dexia Bank (CJSC DenizBank Moscow until the first quarter of 2008) are the international subsidiaries.
DenizBank Financial Services Group consolidated its operations along with financial control and accounting functions at the head office and transformed DenizBank branches into marketing centers, allowing the Bank to keep the number of employees at the optimum level while increasing operational efficiency.
Financial Highlight
| TRY million |
31.12.2008 |
31.12.2007 |
| Total Assets |
24,222 |
18,647 |
| Cash Loans |
17,235 |
13,412 |
| Non–Cash Loans |
4,821 |
4,740 |
| Customer Deposits |
11,834 |
10,822 |
| Shareholders Equity |
2,287 |
1,678 |
| # of Branches |
400 |
320 |
| # of Employees |
8,255 |
7,577 |
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* Consolidated BRSA Figures
DenizBank Financial Institution Data
| SWIFT Code |
DENITRIS |
| IBAN Code |
00134 |