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Akbank T.A.Åž. is one of the largest
bank A bank is a financial institution that accepts Deposit account, 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 m ...
s in
Turkey Turkey, officially the Republic of Türkiye, is a country mainly located in Anatolia in West Asia, with a relatively small part called East Thrace in Southeast Europe. It borders the Black Sea to the north; Georgia (country), Georgia, Armen ...
. Founded in 1948, , Akbank reported a consolidated net profit of TL 60 billion 26 million. Listed on the
Borsa Istanbul The Borsa İstanbul (abbreviated as BIST) is the sole exchange entity of Turkey combining the former Istanbul Stock Exchange (ISE) (), the Istanbul Gold Exchange () and the Derivatives Exchange of Turkey () under one umbrella. It was establishe ...
, its largest shareholders are members of the
Sabancı family The Sabancı family is one of the wealthiest families in Turkey. The family's main business entity was founded by Hacı Ömer Sabancı in the 1930s. Hacı Ömer Sabancı, the progenitor of the Sabancı family, moved from his native Kayseri to Ada ...
. Akbank serves in the fields of corporate and investment banking, commercial banking, SME banking, consumer banking, payment systems, private banking, investment services and treasury transactions. Akbank has ranked as "The Most Valuable Banking Brand in Turkey" according to the "Brand Finance — Banking 500, 2018" report for the seventh time in a row. Akbank also achieved significant success by ranking as the 126th most valuable banking brand in the report that comprises the most valuable global banking brands.


History

Akbank was founded in
Adana Adana is a large city in southern Turkey. The city is situated on the Seyhan River, inland from the northeastern shores of the Mediterranean Sea. It is the administrative seat of the Adana Province, Adana province, and has a population of 1 81 ...
,
Turkey Turkey, officially the Republic of Türkiye, is a country mainly located in Anatolia in West Asia, with a relatively small part called East Thrace in Southeast Europe. It borders the Black Sea to the north; Georgia (country), Georgia, Armen ...
in January 1948, originally to provide financing for the cotton producers in the
Çukurova Çukurova (), or the Cilician Plain (''Cilicia Pedias'' in antiquity), is a large fertile plain in the Cilicia region of southern Anatolia. The plain covers the easternmost areas of Mersin Province, southern and central Adana Province, western Os ...
region. As the majority of the bank founders were born in the city of
Kayseri Kayseri () is a large List of cities in Turkey, city in Central Anatolia, Turkey, and the capital of Kayseri Province, Kayseri province. Historically known as Caesarea (Mazaca), Caesarea, it has been the historical capital of Cappadocia since anc ...
, the name "Adana-Kayseri Bankası" was chosen, soon to be shortened to its initials AK or Akbank. The founders were
Hacı Ömer Sabancı Hacı Ömer Sabancı (1 January 1906 – 2 February 1966) was a Turkish entrepreneur, who founded a number of companies, which later formed the second largest industrial and financial conglomerate of Turkey, the Sabancı Holding. He initiat ...
, the industrialist brothers Ahmet Sapmaz and Bekir Sapmaz and the four owners of the Adana textile business Milli Mensucat; Nuh Naci Yazgan, Nuri Has, Mustafa Özgür and Seyit Tekin. This group had an 80% shareholding, with the remaining 20% offered to investors in Adana and Istanbul. Opening with a single branch in a corner of Adana Akbank grew and developed quickly, opening its first branch in
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 the district of
Sirkeci Sirkeci () is a neighborhood in the Eminönü quarter of the Fatih district in Istanbul, Turkey. In the Byzantine Empire, Byzantine period, the area was known as Prosphorion Harbour, Prosphorion ().Müller-Wiener (1977), p. 57 The neighborhood b ...
on 14 July 1950, and moving its headquarters 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 1954. The original founders ran the bank until 1962 when it was taken over by Sabancı family. Rapidly increasing the number of its branches, Akbank automated all banking operations in 1963. On 9 January 2007, Akbank and
Citigroup Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services company based in New York City. The company was formed in 1998 by the merger of Citicorp, t ...
completed the strategic partnership agreement, according to which Citigroup acquired a 20% equity stake in Akbank for approximately US$3.1 billion (TRL 0.095 per share). In 2013, Citigroup sold a 10.1 percent% stake in Akbank as part of a move to prepare for the
Basel III Basel III is the third of three Basel Accords, a framework that sets international standards and minimums for bank capital requirements, Stress test (financial), stress tests, liquidity regulations, and Leverage (finance), leverage, with the goa ...
rule and technical reasons related to Citibank. Following this transaction, Citigroup's stake in Akbank was 9.9% but on 5 March 2015 Citi announced it was selling its remaining shares for $1.15 billion. Akbank provides services to over 10.8 million active customers through Headquarters in Istanbul, Data and Life Center, 19 Regional Directorates in Türkiye, 711 branches, and more than 12 thousand employees. Apart from the one-to-one service at branches, Akbank continues to create value through Akbank Internet, Akbank Mobile, Call Center, approximately 5900 ATMs, and 734 thousand POS terminals (including virtual POS) for customers. In addition to the foregoing, Akbank has international operations through subsidiary Akbank AG in Germany and a branch in Malta by drawing strength from Akbank’s highly reputable identity in Türkiye. As of 31 December 2022, Akbank reported a consolidated net profit of TL 60 billion 26 million and total consolidated assets of TL 1 trillion 147 billion. The consolidated capital adequacy ratio of Akbank, standing at approx 23.2%. Akbank had several system failures in its history. First systemic one was in 2017 where its whole infrastructure stopped working. Similar incidents happened, but not limited to, 2021, 2022 and in 2024. While it is not common in Turkey, Akbank's frequent system outages caused millions of its customers not being pay at POS terminals or transfer funds.


Awards

* Best Bank of Türkiye
EUROMONEY ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...
(2013–2023) * Best Bank of Türkiye GLOBAL FINANCE (2014–2023) * World's Best Digital Bank
EUROMONEY ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...
(2019) * Digital Solutions Market Leader in Türkiye
EUROMONEY ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...
(2022) * Best Bank for SMEs in CEE
EUROMONEY ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...
(2023) * Best Bank for Sustainable Finance in Türkiye GLOBAL FINANCE (2023) * Best Bank for Trade Finance in Türkiye
EUROMONEY ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...
(2020) * Best Private Bank in Türkiye GLOBAL FINANCE (2023) * World’s Best Bank in the Emerging Markets
EUROMONEY ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...
(2020) * Corporate Banking Market Leader in Türkiye
EUROMONEY ''Euromoney'' is an English-language monthly magazine focused on business and finance. First published in 1969, it is the flagship production of Euromoney Institutional Investor plc. History and profile ''Euromoney'' was first published in 19 ...
(2022) * Best IR Program in Türkiye for BIST 30 Category
INSTITUTIONAL INVESTOR An institutional investor is an entity that pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked ...
(2020–2021)


Operations

, Akbank ranked as Turkey's most valuable bank, having the most profitable banking operations among privately owned banks in Turkey. Also, Akbank is one of the largest banks in Turkey in terms of loan volume. Together with its core banking activities, Akbank offers a wide range of retail, commercial, corporate, private banking and international trade finance services. Non-banking financial services, as well as capital market and investment services, are provided by the Bank's subsidiaries. It has a domestic distribution network that includes over 800 branches and around 14,000 employees, Akbank operates from its headquarters in Istanbul and 20 regional directorates around Turkey. Akbank provides services not only through its branches, which include "Credit Express" consumer loan only branches and "Big Red House" mortgage loan only branches, but also through Retail and Corporate Internet Branches, the Telephone Banking Center, 4,550 ATM's, 510,000 POS terminals. Akbank is listed on the Istanbul Stock Exchange (ISE) where approx. 51.1% of its shares are publicly traded. Akbank shares constitute 4.9% of the total BIST 100 market capitalization and 16.9% of the total market capitalization of banks listed on BIST as of June 2018. Akbank has been conducting overseas activities through its subsidiaries in Germany (Akbank A.G.), and a branch in Malta.


Management Board & Group Executive Committee


Principal subsidiaries

* Ak Asset Management * Ak Lease * Ak Investment * Akbank AG


See also

*
List of banks in Turkey As of March 2024, the total assets of the banking industry in Turkey are 804.3 billion United States dollar, USD. There are 63 banks: 33 deposit, 20 development and investment, 9 participation banks and 1 bank under the supervision of the TMSF. ...
*
List of companies of Turkey Location of Turkey Turkey, officially Türkiye or the Republic of Türkiye is a transcontinental presidential republic in Eurasia, mainly on the Anatolian peninsula in Western Asia, with a smaller portion on the Balkan peninsula in Southeast E ...


References

{{Authority control Banks established in 1948 Banks of Turkey Companies listed on the Istanbul Stock Exchange Companies in the BIST 100 Companies based in Istanbul Sabancı family Turkish brands Turkish companies established in 1948