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Etibank
Etibank A.Ş is a defunct Turkish bank. Founded in 1935 as a state bank focussed on financing the electricity sector, it launched commercial banking activities in 1955. The commercial banking division was separated out in 1993 (from what would become Eti Mine Works), and privatised on 2 March 1998 to Medya İpek Holding A.Ş., co-owned by Cavit Çağlar and Dinç Bilgin, for $155m. The bank was sold to Bilgin's Medya Sabah Holding A.Ş. in 2000. It was taken over by the government's TMSF The Savings Deposit Insurance Fund of Turkey ( tr, Tasarruf Mevduatı Sigorta Fonu), a.k.a. TMSF in abbreviated form, is the governing body concerned with matters of fund management and insurance in the Turkish banking system. The body was found ... in October 2000, and Eskişehir Bankası T.A.Ş. and İnterbank A.Ş. merged into it on 2 July 2001. It was merged into the TSMF's Bayındırbank on 5 April 2002.TBBHistorical Data about Closed Banks - tbb.org.tr In 2011 Dinç Bilgin was sentenc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dinç Bilgin
Dinç Bilgin (born 1940) is a Turkish businessman who built up a media empire which was voluntarily handed over to the Turkish government in 2008 over alleged financial irregularities relating to Etibank. These companies were later sold by TMSF for $ 1.1 Billion. He founded a number of newspapers including ''Sabah'' (1985) and ''Takvim'' (1994), and a number of television stations, including ATV (1993). He also founded the now-defunct '' Ateş'' and '' Yeni Yüzyıl'' in 1995, selling them to Korkmaz Yiğit in 1998. Career Bilgin began his career at '' Yeni Asır''.'' Today's Zaman'', 24 June 2012Dinç Bilgin: The military would stage a coup again if they could He founded a number of newspapers including ''Sabah'' (1985) and ''Takvim'' (1994), and a number of television stations, including ATV (1993). He also founded the now-defunct '' Ateş'' and '' Yeni Yüzyıl'' in 1995, selling them to Korkmaz Yiğit in 1998. Etibank was privatised on 2 March 1998 to Medya İpek Holding A. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cavit Çağlar
Cavit Çağlar (born 1944, Komotini, Greece) is a Turkish businessman and politician. He was elected to the Grand National Assembly of Turkey (TBMM) for the True Path Party (DYP) in 1991, serving as a Minister of State responsible for state-owned banks ( 51st and 52nd government of Turkey). He resigned from the DYP in 1996, remaining in parliament as an independent until 1999. He had been a major financial contributor to the political comeback of President Suleyman Demirel. In 2004 he was sentenced to three years ten months for bank fraud. Early life Çağlar was born in Komotini, Greece to ethnic Turks, moving to Turkey when he was still at school. He left school at age 15 when his father died to look after his family. He entered the textile business, joining his uncle, a textile merchant in Bursa. With his uncle's support and state loans, he built up a large industrial and trade group, Nergis Holding, which in 1996 had turnover of around $1bn and exports of around $200m. Based ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eti Mine Works
Eti Maden is a Turkish state-owned mining and chemicals company focusing on boron products. It holds a government monopoly on the mining of borate minerals in Turkey, which possesses 72% of the world's known deposits. In 2012, it held a 47% share of global production of borate minerals, ahead of its main competitor, Rio Tinto Group, which held 23%. In 2012, it was the forty-first largest industrial company in Turkey, with an annual revenue of $850 million. It was founded in 1935 as Etibank, a bank created to finance Turkish natural resource extraction; in 1993, the company's banking activities were privatized and its mining activities separated under the name Eti Holding A.Ş. In 2004, the company was restructured again and named Eti Mine Works. Its subsidiaries include AB Etiproducts OY, a Finland-based company which distributes Eti Mine Works products in Scandinavia, Eastern Europe, Russia, Central Asia, and Africa. Bandırma Borax owns one of the small coal-fired power stations ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ä°nterbank
İnterbank A.Ş is a defunct Turkish bank, the successor of the Banque de Salonique ( tr, Selanik Bankası T.A.Ş.) founded in 1888 in Thessaloniki ( tr, Selanik) and relocated to Istanbul in 1910. In 1969, that bank was sold by its French controlling shareholders and renamed . It was renamed ''Interbank A.Ş.'' in 1990, years after being taken over by Çukurova Holding. Çukurova sold its majority stake to Cavit Çağlar's Nergis Holding in 1996. It was taken over by the government's TMSF on 7 January 1999, merged with Etibank, and went into liquidation on 2 July 2001.Turkish Banks AssociationHistorical Data about Closed Banks - tbb.org.tr/ref> In June 1999 prosecutors alleged that in 1998 Interbank had transferred over $650m to Nergis Holding companies - far in excess of legal limits for intra-group transfers. The total amount owed by Nergis to Interbank was said to be over $1.1bn.Turkish Daily NewsInterbank Fraud Case Entangles Former Politicians/ref> In 2004 Çağlar and others ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Defunct Banks Of Turkey
{{Disambiguation ...
Defunct (no longer in use or active) may refer to: * ''Defunct'' (video game), 2014 * Zombie process or defunct process, in Unix-like operating systems See also * * :Former entities * End-of-life product * Obsolescence Obsolescence is the state of being which occurs when an object, service, or practice is no longer maintained or required even though it may still be in good working order. It usually happens when something that is more efficient or less risky r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In Istanbul
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1935 Establishments In Turkey
Events January * January 7 – Italian premier Benito Mussolini and French Foreign Minister Pierre Laval conclude an agreement, in which each power agrees not to oppose the other's colonial claims. * January 12 – Amelia Earhart becomes the first person to successfully complete a solo flight from Hawaii to California, a distance of 2,408 miles. * January 13 – A plebiscite in the Territory of the Saar Basin shows that 90.3% of those voting wish to join Germany. * January 24 – The first canned beer is sold in Richmond, Virginia, United States, by Gottfried Krueger Brewing Company. February * February 6 – Parker Brothers begins selling the board game Monopoly in the United States. * February 13 – Richard Hauptmann is convicted and sentenced to death for the kidnapping and murder of Charles Lindbergh Jr. in the United States. * February 15 – The discovery and clinical development of Prontosil, the first broadly effective antibiotic, is published in a series ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Turkey
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1935
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
