From a single bank to a large financial services group
DenizBank was founded in 1938 as a state-owned bank in order to provide funding for the developing Turkish maritime sector. Acquired by Zorlu Holding from the Privatization Administration as a banking license in early 1997, DenizBank was further acquired in October 2006 by Dexia, a leading financial group in Europe. Continuing its activities under Dexia umbrella for 6 years, DenizBank operates as from 28 September 2012 under the roof of Sberbank, the biggest bank in Russia. As of July 1st, 2013; consumer banking portfolio of Citi Turkey with more than 600 thousand customers and nearly 1400 employees were transferred to DenizBank.
Following privatization in 1997, 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 supported by the acquisition of 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 a very short time. 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 (the Group) consists of seven domestic, three international financial subsidiaries, five domestic non-financial subsidiaries, and a branch in Bahrain. Deniz Investment Securities, Ekspres Securities, Deniz Real Estate Investment Trust, DenizPortfolio Management, DenizLeasing, DenizFactoring, Destek Asset Management Company, Intertech, Deniz Kültür and Bantaş are the groups domestic subsidiaries while Eurodeniz, DenizBank AG and DenizBank Moscow are its international subsidiaries.
The primary segments the Group focuses on are retail customers, small and medium-size enterprises, exporters, public and project finance and commercial and corporate clients. The Group also operates in niche markets such as agriculture, energy, tourism, education, healthcare services, infrastructure and maritime. The Group operates in European Union countries through its Vienna-based subsidiary DenizBank AG. CJSC DenizBank Moscow provides services to customers engaged in commerce with Russia and serves a variety of their financial requirements.
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.
The Group possesses a service network that reaches all segments of the society throughout Turkey. In addition to the 689 domestic DenizBank branches, including one in Bahrain, DenizBank AG have 43 branches in total. In addition, thanks to its Alternative Distribution Channels, DenizBank enables both individual and corporate customers all over the world to carry out financial transactions over the internet.
|Shareholders Equity (inc. subordinated loan)
|# of Branches(1)
|# of Employees
|# of Customers-million
Consolidated BRSA financials
(1)Including subsidiaries branches