DenizBank A.Ş. is a large private bank in Turkey. It is currently owned by Emirates NBD. It was owned and controlled by leading Russian bank Sberbank from 2012 to 2019. European financial services institution Dexia was the owner before this.

DenizBank A.Ş.
Company typeAnonim Şirket
IndustryFinancial services
Founded1997 in Istanbul
HeadquartersŞişli, Istanbul, Turkey
Number of locations
740 branches
5,612 ATMs (2017)
Area served
Key people
Hakan Ateş, CEO
Investment banking
Investment management
Number of employees
14,136 (2017)
ParentEmirates NBD

History edit

Operations commenced in a hotel room in August that year, and the bank moved into its new headquarters in Karaköy the following month. Its first 13 branches (5 outside Istanbul) were also opened.[1] With a revitalization program initiated, branches were opened under a new corporate identity. Expansion was supported by the acquisition of branch offices from other banks, including Tarişbank in 2002. Internet banking was introduced in 1999, and Deniz Yatırım was founded in 2001.[1]

2002 saw the bank move into its new headquarters in Esentepe, Şişli, and the acquisition of Tarişbank. The bank's IPO on the Istanbul stock exchange took place in 2004.[1]

On May 31, 2006, Dexia announced it had acquired a 75% stake in the company for US$2.437 billion. The remaining 25% of the shares were held publicly. It remained the primary shareholder until 2012, when Sberbank agreed to buy DenizBank for US$3.6 billion from the financially troubled Dexia. [2][3][4]

Emirates NBD agreed to buy DenizBank from Sberbank in 2018. The deal was completed in July 2019.[5]

Shareholders edit

As of July 2019, the only shareholder of the bank is Emirates NBD (99.85% of shares).[5]

Companies sold under agreement with the EU edit

Due to Dexia's agreement with the European Union, certain businesses were required to be sold. The ones sold from the DFSG are listed below.[6]

Name of Company Country Industry
Deniz Emeklilik ve Hayat A.Ş.[7] Turkey Pension and Life Insurance

Companies sold edit

Name of Company Country Industry
Deniz Türev Menkul Değerler A.Ş.[8] Turkey Securities

See also edit

References edit

  1. ^ a b c "DenizBank'ın 20 yıllık Türkiye yolculuğu". Sözcü (in Turkish). 2017-08-03. Retrieved 2018-04-27.
  2. ^ Sberbank Said To Buy Dexia Unit Denizbank For $3.6 Billion. Bloomberg. Retrieved on 2012-06-07.
  3. ^ Dalton, Matthew (10 October 2011). "France, Belgium Reach Pact on Ailing Dexia". The Wall Street Journal. Retrieved 2011-10-10.
  4. ^ Belgium Paying EU4 Billion for Dexia Belgian Unit, Reynders Says. Bloomberg. Retrieved on 2011-10-11.
  5. ^ a b "Completion of the sale and purchase of 99.85% of the shares in DenizBank A.Ş. By Emirates NBD from Sberbank of Russia — СберБанк".
  6. ^ "Dexia: Positive outcome from European Commission negotiations". Association des Banques et Banquiers, Luxembourg. Archived from the original on 2012-04-22. Retrieved 2011-10-02.
  7. ^ "Dexia Sells 99.86% Stake In Turkey's DenizEmeklilik To MetLife"[permanent dead link], by Inti Landauro, Fox Business, June 27, 2011, Retrieved October 2, 2011.
  8. ^ "Denizbank A.S. Sells Deniz Turev Menkul Degerler A.S.", by Reuters Ticker, Reuters U.S. Edition, July 20, 2011, Retrieved October 2, 2011.

External links edit