QNB Finansbank is a Turkish
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 ...
with headquarters in
Levent
Levent is a neighbourhood and one of the main business districts of Istanbul, Turkey, located on the European side of the city. It is a part of the municipality of Beşiktaş and is situated to the north of the Golden Horn, at the western s ...
,
Istanbul
)
, postal_code_type = Postal code
, postal_code = 34000 to 34990
, area_code = +90 212 (European side) +90 216 (Asian side)
, registration_plate = 34
, blank_name_sec2 = GeoTLD
, blank_i ...
. It was established by leading Turkish banker
Hüsnü Özyeğin
Hüsnü Özyeğin (born 1944) is a Turkish billionaire. He founded Finansbank in 1987 and later sold the Turkish division of the bank. Nowadays, his financial investments are managed under Fiba Holding while non-financial investments are manage ...
in 1987 and for a period was the Turkish bank with the largest network of foreign branches. In 2016 the
QNB Group
Qatar National Bank (QNB Group) ( ar, بنك قطر الوطني) is a Qatari multinational commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries spanning three cont ...
headquartered in
Doha
Doha ( ar, الدوحة, ad-Dawḥa or ''ad-Dōḥa'') is the capital city and main financial hub of Qatar. Located on the Persian Gulf coast in the east of the country, north of Al Wakrah and south of Al Khor, it is home to most of the count ...
,
Qatar
Qatar (, ; ar, قطر, Qaṭar ; local vernacular pronunciation: ), officially the State of Qatar,) is a country in Western Asia. It occupies the Qatar Peninsula on the northeastern coast of the Arabian Peninsula in the Middle East; it ...
(the largest bank in the Middle East and Africa in that year), acquired Finansbank from the
National Bank of Greece
The National Bank of Greece (NBG; el, Εθνική Τράπεζα της Ελλάδος) is a global banking and financial services company with its headquarters in Athens, Greece.
85% of the company's pretax preprovision profits are derived ...
(NBG), which had purchased the bank's domestic operations back in 2006, spinning the international operations off under the name
Credit Europe Bank
Credit Europe Bank (CEB) is a Dutch registered bank owned by the Turkish financial holding company FIBA Group. The bank is focused on corporate lending as well as on retail banking and operates in the euro-zone countries of the Netherlands, Ge ...
.
As of September 30, 2015, the bank operated with 647 branches and 13,000 employees.
In the third quarter of 2015, Finansbank's profit was 673 million TL;
[ its total loans rose to 57 billion 194 million TL;][ total assets rose to 90 billion 410 million TL;][ customer deposit portfolio rose to 47 billion 306 million TL;][ and total equities reached 8 billion 937 million TL.][
In late 2015, the National Bank of Greece announced its decision to sell Finansbank to Qatari ]QNB Group
Qatar National Bank (QNB Group) ( ar, بنك قطر الوطني) is a Qatari multinational commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries spanning three cont ...
in a deal worth 2.7 billion Euros. On June 15, 2016, the acquisition of Finansbank by the QNB Group was completed.
History of purchases
On March 18, 2014, Turkish daily Hürriyet
''Hürriyet'' (, ''Liberty'') is one of the major Turkish newspapers, founded in 1948.
, it had the highest circulation of any newspaper in Turkey at around 319,000. ''Hürriyet'' has a mainstream, liberal and conservative outlook. ''Hürriyet ...
reported the purchase by National Bank of Greece
The National Bank of Greece (NBG; el, Εθνική Τράπεζα της Ελλάδος) is a global banking and financial services company with its headquarters in Athens, Greece.
85% of the company's pretax preprovision profits are derived ...
(NBG) of ''Soyak Kristal Kule'' (Soyak Crystal Tower), a 40-floor, 60,000 square-meter office tower in Levent
Levent is a neighbourhood and one of the main business districts of Istanbul, Turkey, located on the European side of the city. It is a part of the municipality of Beşiktaş and is situated to the north of the Golden Horn, at the western s ...
, one of the main business districts in Istanbul
)
, postal_code_type = Postal code
, postal_code = 34000 to 34990
, area_code = +90 212 (European side) +90 216 (Asian side)
, registration_plate = 34
, blank_name_sec2 = GeoTLD
, blank_i ...
. The property was purchased for a reported price of $303M (US) from Koru Property Investments, a subsidiary of Soyak Group in Turkey.[ Hürriyet reported that NBG intended to use the newly constructed tower as Finansbank's headquarters.][ The property includes an adjoining 12-floor structure of 30,000 square-meters which is topped by a helipad.] The main building's Turkish name, ''Kristal Kule'' (Crystal Tower) refers to the glass-sheathed structure's asymmetric, faceted, sloping silhouette. The project used a performance-based building design (PBBD). The principal architects were Pei Cobb Freed & Partners
Pei Cobb Freed & Partners is an American architectural firm based in New York City, founded in 1955 by I. M. Pei and other associates. . The design, planning, engineering, and consulting firm, Arup, provided project management services for the project.
On December 22, 2015, the National Bank of Greece (NBG) announced it will sell the bank to Qatari QNB Group
Qatar National Bank (QNB Group) ( ar, بنك قطر الوطني) is a Qatari multinational commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries spanning three cont ...
including €910m of subordinate debt for a sum of €2.75bn in cash.[ The transaction would give the Greek bank a liquidity boost of €3.4bn, which it would use to pay down its expensive debt to the Greek Central Bank following a number of bailouts of Greek sovereign debt backed by the ECB and IMF.][ The acquisition of Finansbank by the QNB Group was completed on June 15, 2016.][
]
Subsidiaries
* Finans Emeklilik
* Finans Faktoring
* Finans Invest
* Finans Leasing
* Finans Portföy
* Finans Tüketici Finansmanı
* IBTech
* eFinans
Banking Services
* Consumer Banking
Retail banking, also known as consumer banking or personal banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking servi ...
* SME Banking
SME may refer to:
Economics
* Small and medium-sized enterprises
* Socialist market economy, an economic system of China
Organizations Music
* SME Limited, UK audio turntable manufacturer
* Sony Music Entertainment, US
* Spontaneous Music Ensembl ...
* Corporate Banking
* Private Banking
Private banking is banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs)—defined as those with very high levels of income or sizable assets. A bank that ...
References
External links
*
Sources
*
{{Banks of Turkey
Banks of Turkey
Banks established in 1987
2016 mergers and acquisitions