Türk Ekonomi Bankası (TEB; English: ''Turkish Economy Bank'') is one of Turkey’s oldest financial institutions. In addition to providing its customers with

corporate A corporation or body corporate is an individual or a group of people, such as an association or company, that has been authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of s ...

, SME,

commercial Commercial may refer to: * (adjective for) commerce, a system of voluntary exchange of products and services ** (adjective for) trade, the trading of something of economic value such as goods, services, information or money * a dose of advertising ...

treasury A treasury is either *A government department related to finance and taxation, a finance ministry; in a business context, corporate treasury. *A place or location where treasure, such as currency or precious items are kept. These can be ...

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 ...

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

, and

private banking Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income or substantial asset ...

products and services, TEB also supplies

investment Investment is traditionally defined as the "commitment of resources into something expected to gain value over time". If an investment involves money, then it can be defined as a "commitment of money to receive more money later". From a broade ...

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 municipality and the capital Districts of Turkey, district of Kocaeli Province, Turkey. Its area is 480 km2, and its population is 376,056 (2022). The capital of Kocaeli Province, it is located at the Gulf of İzmit in the Sea ...

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 (; sometimes referred to as BNPP or BNP) is a French multinational universal bank and financial services holding company headquartered in Paris. It was founded in 2000 from the merger of two of France's foremost financial instituti ...

. TEB was one of the first banks in Turkey to enter into mobile banking. 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 smartphone, phone, tablet computer, tablet, or smartwatch, watch. Mobile applications often stand in contrast to desktop appli ...

lication released in 2008. TEB first entered the SME banking business in 2005. TEB is also active is startup business banking. As of end-2019, TEB had around 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 is a partner in American financial company

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

's International ATM Partnership. Three TEB subsidiaries include: * TEB Faktoring AŞ: provides corporate and commercial firms, as well as SMEs, with export, import, and domestic factoring products and services since 1997. * TEB Portföy Yönetimi AŞ: an asset management company that has been in business since 1999. * TEB Yatırım Menkul Değerler AŞ: a brokerage house that commenced operations in 1996 and 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 Companies in the BIST 100