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Akbank T.A.Ş.

Company type	Anonim Şirket
Traded as	BİST: AKBNK
Industry	Banking, Financial services
Founded	30 January 1948; 76 years ago (1948-01-30)
Headquarters	Istanbul, Turkey
Key people	Suzan Sabancı Dinçer (Chairman) Kaan Gür (CEO)
Products	Financial services, credit cards, consumer banking, corporate banking, investment banking, mortgage loans, private banking
Revenue	US$9.76 billion (2023)
Operating income	US$3.67 billion (2023)
Net income	US$2.80 billion (2023)
Total assets	US$71.56 billion (2024)
Total equity	US$7.18 billion (2023)
Number of employees	~12.860 (2023)
Subsidiaries	List Akbank AG AK Lease AK Investment AK Asset Management
Rating	S&P: unknown Moody's: B1 Fitch: BB-
Website	www.akbank.com

Akbank T.A.Ş. is one of the largest banks in Turkey. Founded in 1948, As of 2022, Akbank reported a consolidated net profit of TL 60 billion 26 million. Listed on the Borsa Istanbul, its largest shareholders are members of the Sabancı family. 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, Turkey in January 1948, originally to provide financing for the cotton producers in the Çukurova region. As the majority of the bank founders were born in the city of Kayseri, the name "Adana-Kayseri Bankası" was chosen, soon to be shortened to its initials AK or Akbank. The founders were Hacı Ömer Sabancı, 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 in the district of Sirkeci on 14 July 1950, and moving its headquarters to Istanbul 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 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 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 (2013–2023)
• Best Bank of Türkiye GLOBAL FINANCE (2014–2023)
• World's Best Digital Bank EUROMONEY (2019)
• Digital Solutions Market Leader in Türkiye EUROMONEY (2022)
• Best Bank for SMEs in CEE EUROMONEY (2023)
• Best Bank for Sustainable Finance in Türkiye GLOBAL FINANCE (2023)
• Best Bank for Trade Finance in Türkiye EUROMONEY (2020)
• Best Private Bank in Türkiye GLOBAL FINANCE (2023)
• World’s Best Bank in the Emerging Markets EUROMONEY (2020)
• Corporate Banking Market Leader in Türkiye EUROMONEY (2022)
• Best IR Program in Türkiye for BIST 30 Category INSTITUTIONAL INVESTOR (2020–2021)

Operations

As of 2008, 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
• List of companies of Turkey

References

1. "Board of Directors – Akbank T.A.Ş." Archived from the original on 16 January 2013. Retrieved 28 June 2012.
2. "Senior Management – Akbank T.A.Ş." Archived from the original on 16 January 2013. Retrieved 28 June 2012.
3. "Subsidiaries – Akbank T.A.Ş." Archived from the original on 25 May 2012. Retrieved 28 June 2012.
4. "Committed to Sustainable Leadership". Akbank.com. March 2014. Retrieved 4 August 2017.
5. ^ "Best Global Brands - Brand Profiles & Valuations of the World's Top Brands". Brandirectory.com. Retrieved 4 August 2017.
6. "SABAH - AKBANK'taki ihtilâf Sabancılar'a yaradı". Arsiv.sabah.com.tr. Archived from the original on 12 December 2012. Retrieved 18 December 2012.
7. "Citigroup Lost $800 Million on Holding in Turkey's Akbank". Bloomberg. 5 March 2015. Retrieved 12 March 2015.
8. "2017". Hurriyet. 28 March 2017.
9. "2021". Sabah. 7 July 2021.
10. "2022". Sabah. 8 November 2022.
11. "August 2018 - Banks and Branches". The Banks Association of Turkey. August 2018. Retrieved 18 August 2018.
12. Habertürk (20 November 2008). "'İş Bankası çıkarmadı, Akbank çıkardı' - Makro Ekonomi Haberleri". Habertürk (in Turkish). Retrieved 12 July 2023.

v t e BIST 100 companies of Turkey

Alternatif Bank Acıbadem Akbank Aksa Alarko Holding Albaraka Türk Anadolu Isuzu Anadolu Sigorta Arçelik Aselsan Aygaz Bursa Çimento Coca-Cola İçecek DenizBank Doğan Holding Eczacıbaşı Building Products Eczacıbaşı Investment Holding Eczacıbaşı Investment Partnership Enka EÜAŞ Erdemir Finansbank Ford Otosan Garanti BBVA Goldaş Halkbank ICBC Turkey İhlas Holding İşbank İş Yatırım Kale Kalıp Kardemir Karsan Koç Holding Koza İpek Holding Koza Altın Logo Migros Otokar Pegasus Airlines Petkim Petrol Ofisi Sabancı Holding Şekerbank Şişecam Taraf TAV Airports Holding Tekfen Tofaş Turkcell Tüpraş Türk Ekonomi Bank Türk Telekom Turkish Airlines Ülker VakıfBank Vestel Yapı Kredi

v t e Banks of Turkey
Banking in Turkey ∙ Central Bank
Commercial	Public Halkbank VakıfBank Ziraat Bank Adabank Birleşik Fon Bankası Private Akbank Anadolubank İşbank Fibabanka Şekerbank Turkish Bank Türk Ekonomi Bankası Yapı Kredi Foreign Alternatif Bank Burgan Bank Citibank DenizBank Deutsche Bank Garanti BBVA HSBC ICBC ING MUFG Bank QNB Rabobank
Investment	Public İlbank
Participation	Public Vakıf Katılım Ziraat Katılım Private Albaraka Türk Kuveyt Türk Türkiye Finans
Defunct	Anadolu Bank (1961) Egebank Emlak Kredi Bank Esbank İstanbul Bank Milli Aydın Bank (Tarişbank) Raybank Töbank İktisat Bankası Tütünbank (Yaşarbank)
Under TMSF italic: Global branch page

v t e Turquality companies
Akbank Mavi Jeans Temsa Ülker Vitra Derimod

v t e Citigroup
People	Michael E. O'Neill Vikram Pandit Richard Parsons William R. Rhodes Lewis B. Kaden Al Waleed bin Talal Al Saud John Havens
Brands and companies	Current Banamex Citibank Citigold Citi Private Bank Egg Metalmark Capital Red Roof Inn Former ClearBridge Investments Court Square Capital Partners CVC Capital Partners Diners Club International Morgan Stanley Wealth Management OneMain Financial Primerica The Travelers Companies
Notable former executives	Winfried Bischoff Michael Bloomberg Gary Crittenden Jamie Dimon Ahmed Fahour Stanley Fischer Lewis Glucksman Thomas W. Jones Sallie Krawcheck Victor Menezes George S. Moore Samuel Osgood Joe J. Plumeri Chuck Prince John Reed Robert Rubin James Stillman Rockefeller William Rockefeller Moses Taylor Sandy Weill Robert B. Willumstad Walter Wriston
Corporate directors	Michael Armstrong Alain Belda George David Kenneth T. Derr John M. Deutch Roberto Hernández Ramírez Manolo Falcó Jane Fraser Ann Jordan Klaus Kleinfeld Andrew N. Liveris Anne Mulcahy Richard Parsons Chuck Prince Judith Rodin Robert Rubin Franklin A. Thomas Sandy Weill
Local entities	Argentina Australia Bahrain Canada China Colombia Europe Hong Kong India Indonesia Japan South Korea Malaysia Mexico Philippines Russia Singapore Thailand Taiwan [zh] Uganda United Arab Emirates United States of America Vietnam
Predecessors	ACC Capital California Federal Bank Franklin National Bank
Headquarters: 388 Greenwich Street, New York City, New York 10043, United States Category

v t e Sabancı family
First generation	Hacı Ömer Sabancı (1906–1966) Sadıka Sabancı (1910–1988)
Second generation	İhsan (1931–1979) Sakıp (1933–2004) Hacı (1935–1998) Şevket (1936–2021) Erol (1938–) Özdemir (1941–1996)
Third generation	Güler (1955–) Ömer (1959–) Sevgi (1963–) Mehmet (1963–2004) Dilek (1964–) Suzan (1965–) Demet (1965–) Emine (1966–) Sevilay (1966–) Murat (1967–) Ali (1969–) Çiğdem (1970–) Demir (1971–) Sevil (1973–) Serra (1975–)
Fourth generation	Hacı (1987–) Faruk (1992–) Emrecan (2001–) Bora (2003–) Kaan Ali (2003–) Oya Tuluhan (2004–) Batu Sami (2010–)
Entities involved in	Major companies Sabancı Holding Akbank Social and cultural institutions Hacı Ömer Sabancı Foundation Sabancı University Sakıp Sabancı Museum Dilek Sabancı Sport Hall Sabancı Performing Arts Center Cultural events International Sabancı Theater Festival

• 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