ING is the Turkish subsidiary of the
ING Group, an international banking company. The bank was formerly known as Oyak Bank which became part of ING Group in December 2007. It provides retail and commercial banking services to individuals and businesses in Turkey, together with related financial products such as insurance and asset management. It was a financial subsidiary of
OYAK Holding
Ordu Yardımlaşma Kurumu (OYAK) (''lit. Military Mutual Aid Institution''), is a Turkish charity and pension fund with around 363,000 members and owner of Renault (Oyak). The OYAK Holding Investment Subsidiary Group is one of the largest indust ...
(Turkish Army Members Solidarity Fund) between 1993 and 2007.
History
US-based
First National Bank of Boston opened a branch in
Istanbul, Turkey in 1984. The bank has operated independently since 1990 with three companies owning majority stakes:
Alarko
Alarko Holding is one of the largest business conglomerates in Turkey; it is listed on the Istanbul Stock Exchange. It operates in a variety of sectors, including construction, electricity generation and distribution, tourism, and real estate. It ...
,
Cerrahoğlu and
Oyak.
The bank's name changed to Turkish Boston Bank A.Ş. again in 1991 and then OYAK purchased the other shares, becoming the only shareholder of the bank. Finally the bank was again renamed to Oyak Bank 1996.
In 2002
Sümerbank
Sümerbank was a Turkish bank and industrial holding company established in 1933 and originally owned by the Turkish state, now part of Oyak Bank. On 11 January 2002, Oyak Bank acquired Sümerbank and the combined bank is now known under the Oyak ...
merged into Oyak Bank, which had over 300 branches around Turkey. The bank has a branch in Ireland and another one in Germany.
External links
ING Bank Home Page (English version)
Banks of Turkey
ING Group
Banks established in 1984
Turkish companies established in 1984
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