Türk Ekonomi Bankası (TEB;

English English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national ide ...

: ''Turkish Economy Bank'') is one of Turkey’s oldest financial institutions. In addition to providing its customers with

corporate A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and re ...

SME 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 ...

commercial Commercial may refer to: * a dose of advertising conveyed through media (such as - for example - radio or television) ** Radio advertisement ** Television advertisement * (adjective for:) commerce, a system of voluntary exchange of products and s ...

treasury A treasury is either *A government department related to finance and taxation, a finance ministry. *A place or location where treasure, such as currency or precious items are kept. These can be state or royal property, church treasure or in p ...

capital market A capital market is a financial market in which long-term debt (over a year) or equity-backed securities are bought and sold, in contrast to a money market where short-term debt is bought and sold. Capital markets channel the wealth of savers t ...

retail Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is sale to business or institutional customers. A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and t ...

, and

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 ...

products and services, TEB also supplies

investment Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing i ...

leasing A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

, factoring, and portfolio management financial services and products through its subsidiaries and group companies. TEB is a bank that provides consumer loans, vehicle loans, housing loans and commercial loans. Originally established in the city of

İzmit İzmit () is a district and the central district of Kocaeli province, Turkey. It is located at the Gulf of İzmit in the Sea of Marmara, about east of Istanbul, on the northwestern part of Anatolia. As of the last 31/12/2019 estimation, the c ...

in 1927 as a privately-owned joint-stock company with the name Kocaeli Halk Bankası TAŞ, in 2005 TEB entered into a strategic partnership with

BNP Paribas BNP Paribas is a French international banking group, founded in 2000 from the merger between Banque Nationale de Paris (BNP, "National Bank of Paris") and Paribas, formerly known as the Banque de Paris et des Pays-Bas. The full name of the grou ...

, a leading euro area banking group. TEB was one of the first banks in Turkey to invest in

mobile banking Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. Unlike the related internet banking it uses ...

. The bank’s investments in this business line were centered around its CEPTETEB platform, a

mobile app A mobile application or app is a computer program or software application designed to run on a mobile device such as a phone, tablet, or watch. Mobile applications often stand in contrast to desktop applications which are designed to run on d ...

lication that introduced many innovations not just in the Turkish banking industry but throughout the world when it was released in 2008. Given a makeover in 2015, CEPTETEB became the primary mobile banking channel for TEB’s retail customers. In early 2020, TEB introduced CEPTETEB İŞTE (“CEPTETEB For Business”), a version of the app specifically designed for its SME, corporate, and microbusiness banking customers. The rapidly-won success of CEPTETEB İŞTE earned the app an award in the “Mobile” category of the “Innovation in Digital Banking Awards” series organized by ''

The Banker ''The Banker'' is an English-language monthly international financial affairs publication owned by ''The Financial Times'' Ltd. and edited in London, United Kingdom. The magazine was first published in January 1926 through founding Editor, Brend ...

','' an international financial affairs monthly owned by

The Financial Times The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nikk ...

. The first bank in Turkey to enter the private banking business line, TEB has been providing its high-net-worth customers with private banking and asset management products and services since 1989. Having first entered the SME banking business line in 2005, in 2019 TEB overhauled its SME banking

business model A business model describes how an organization creates, delivers, and captures value,''Business Model Generation'', Alexander Osterwalder, Yves Pigneur, Alan Smith, and 470 practitioners from 45 countries, self-published, 2010 in economic, social, ...

in order to better address the changing and increasingly more diversified requirements of SME customers through

market segmentation In marketing, market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as ''segments'') based on some type of shared characte ...

focusing on such customers’ particular needs. Firms requiring specialized services for example are provided with

bespoke The word ''bespoke'' () has evolved from a verb meaning 'to speak for something', to its contemporary usage as an adjective. Originally, the adjective ''bespoke'' described tailor-made suits and shoes. Later, it described anything commissioned t ...

services ranging from

foreign trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant s ...

project A project is any undertaking, carried out individually or collaboratively and possibly involving research or design, that is carefully planned to achieve a particular goal. An alternative view sees a project managerially as a sequence of even ...

finance and from

derivatives trading In finance, a derivative is a contract that ''derives'' its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying". Derivatives can be u ...

to supplier financing. The bank’s digital service model was also revised both to make it easier for smaller businesses to take care of their day-to-day banking needs and to automate credit-allocation processes. Having entered the SME banking business line with the intention of acting as such customers’ financial adviser, TEB’s success has been recognized by the

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries. The IFC is a member of t ...

, a member of the

World Bank Group The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Grou ...

, which cited TEB as one of the world’s three best banks active in SME banking. Another business line in which TEB is active is startup business banking. TEB Corporate Banking focuses on providing large-scale national and international firms, corporate groups, and holding companies with high-added-value corporate banking products and services. In this business line, TEB supplies such customers with foreign trade finance, operating and investment loans,

working capital Working capital (WC) is a financial metric which represents operating liquidity available to a business, organisation, or other entity, including governmental entities. Along with fixed assets such as plant and equipment, working capital is consi ...

and investment-financing loans, cash-management and risk-management products, standard and derivatives products, corporate investment banking products, and commodity financing and project financing services. As of end-2019, TEB had about nine thousand employees on its payroll and was serving customers through extensive branch and ATM networks, its CEPTETEB and CEPTETEB İŞTE mobile apps, an online banking website, and a call center.
TEB'den KOBİ ve işletmeler için yeni platform: CEPTETEB İŞTE TEB is a partner in American financial company

Bank of America The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank w ...

's International ATM Partnership. Three TEB subsidiaries offer services: TEB Faktoring AŞ is one of the most active players in Turkey’s factoring industry and has been providing corporate and commercial firms as well as SMEs with export, import, and domestic factoring products and services since 1997. TEB Portföy Yönetimi AŞ is an asset management company that has been in business since 1999. TEB Yatırım Menkul Değerler AŞ, which commenced operations in 1996, is a brokerage house that carries out capital market transactions on behalf of customers in accordance with the requirements of Turkish capital market laws and regulations.

References

Sources

* {{DEFAULTSORT:Turk Ekonomi Bankasi Turkish brands Turkish companies established in 1927 Companies based in Istanbul Banks of Turkey Banks established in 1927 BNP Paribas