Denizbank
 Hayat Deniz'de Güzel (Life Is Good At Sea) |
|
| Public | |
| Traded as | BİST: DENIZ |
| Industry | Finance and Insurance |
| Founded | Istanbul, Turkey 1938 |
| Headquarters | Esentepe, Istanbul, Turkey |
|
Number of locations
|
489 branches (2010) in Turkey |
|
Area served
|
Turkey |
|
Key people
|
Hakan Ateş, CEO |
| Products |
Banking Investment banking Investment management |
|
Number of employees
|
9,189 (2010) |
| Parent | Sberbank |
| Website | www.denizbank.com |
DenizBank A.Ş. (Deniz meaning Sea in Turkish) is a private bank in Turkey. On 8 June 2012, Sberbank, a leading Russian bank, announced to acquire DenizBank shares from Dexia. The acquisition is completed by September 2012. Since September 2012, DenizBank is controlled by Sberbank.
DenizBank was established in 1938 as a state-owned bank (Denizcilik Bankasi) to help finance the then emerging Turkish maritime industry. In 1992, the Turkish government decided to consolidate a number of state-owned banks, and DenizBank merged into Emlakbank.
In 1997, a banking license was auctioned by the government under the name DenizBank without any significant assets except three branch buildings. Zorlu Holding acquired the bank from the Privatization Administration for $70 million in 1997, and operations commenced in September of that year. With the revitalization program initiated, new branches were opened under the new corporate identity. Expansion was supported by acquiring some branch offices from other banks, including Tarişbank in 2002. It went international by establishing or acquiring banks in Austria, Russia and the Turkish Republic of Northern Cyprus.
DenizBank extended its product range by adding services like investment banking, brokerage, factoring and leasing, which all were formed under the leadership of DenizBank to "Deniz Financial Services Group". The group of 13 companies employs more than 10,000 people.
On May 31, 2006, the Belgian bank Dexia purchased 75% the stake for US$ 2.437 billion from Zorlu Holding and announced that the bank’s name would not change. The remaining 25% of the shares is being held publicly. DenizBank has 489 branch offices as of 20 September 2010.
The financially troubled main stakeholder Dexia announced on October 10, 2011 that DenizBank will be put up for sale. On June 7, 2012 Sberbank agreed to buy DenizBank for 3.6 billion USD from Dexia.
The following table shows the structure of the group as of 28 January 2010.
Due to Dexia's agreement with the European Union, certain businesses were required to be sold. The ones being sold from the DFSG are listed as below.
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Wikipedia