İnterbank A.Ş is a defunct Turkish bank, the successor of the

Banque de Salonique The Bank of Salonica (, , ) was a regional bank headquartered in Thessaloniki (then known as Salonica) and Istanbul. Created in 1886 under the initial leadership of the History of the Jews in Thessaloniki, Salonica Jewish Allatini family with Au ...

() founded in 1888 in

Thessaloniki Thessaloniki (; ), also known as Thessalonica (), Saloniki, Salonika, or Salonica (), is the second-largest city in Greece (with slightly over one million inhabitants in its Thessaloniki metropolitan area, metropolitan area) and the capital cit ...

() and relocated to

Istanbul Istanbul is the List of largest cities and towns in Turkey, largest city in Turkey, constituting the country's economic, cultural, and historical heart. With Demographics of Istanbul, a population over , it is home to 18% of the Demographics ...

in 1910. In 1969, that bank was sold by its French controlling shareholders and renamed . It was renamed ''Interbank A.Ş.'' in 1990, several years after being taken over by

Çukurova Holding Çukurova Holding, established in 1923, is an industrial and commercial conglomerate based in Turkey. It is engaged in a range of sectors such as industrial, construction, communication and IT, media, transportation, financial services and ene ...

. Çukurova sold its majority stake to

Cavit Çağlar Cavit Çağlar (born 1944, Komotini, Greece) is a Turkish businessman and politician and convicted felon. In 2004 he was sentenced to three years ten months for bank fraud, a $7.4m business bank loan for personal use, leading to the bankruptcy o ...

'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 Association
Historical 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 News Turkish may refer to: * Something related to Turkey ** Turkish language *** Turkish alphabet ** Turkish people, a Turkic ethnic group and nation *** Turkish citizen, a citizen of Turkey *** Turkish communities in the former Ottoman Empire * The w ...

Interbank Fraud Case Entangles Former Politicians
/ref> In 2004, Çağlar and others associated with Nergis were sentenced to three years ten months for bank fraud relating to Interbank. He had initially been acquitted in 2002, but the government appealed, and reversed the acquittal.

, 5 December 2002
Caglar acquitted after four-year trial
/ref> After Interbank was merged with Esbank under Etibank on July 2, 2001, Etibank was merged under Bayındırbank, which was wholly owned by the SDIF. Bayındırbank was renamed Birleşik Fon Bankası A.Ş. with the decision taken by the SDIF on December 7, 2005.

References

Banks established in 1888 Banks of Turkey 1888 establishments in the Ottoman Empire Companies based in Istanbul Defunct banks of Turkey 2001 disestablishments in Turkey {{Turkey-company-stub