ING is the Turkish subsidiary of the

ING Group ING Group N.V. () is a Dutch multinational corporation, multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, whol ...

, 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 (Turkish Army Members Solidarity Fund) between 1993 and 2007.

History

US-based First National Bank of Boston opened a 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 ...

, Turkey in 1984. The bank has operated independently since 1990 with three companies owning majority stakes: Alarko, Cerrahoğlu and

Oyak Ordu Yardımlaşma Kurumu (OYAK) (English language, English: ''Military Solidarity Institution''), is a Turkish Charity (practice), charity and Turkish Armed Forces, military pension fund with around 470,000 members. The OYAK Holding Investment S ...

. 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 in 1996. In 2002,

Sümerbank Sümerbank was a Turkish bank and Industrial sector, 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 kn ...

merged into Oyak Bank, which had over 300 branches around Turkey. The bank has a branch in Ireland and another one in Germany.

References

External links

* Banks of Turkey ING Group Banks established in 1984 Turkish companies established in 1984 {{Turkey-company-stub