Headquarters Istanbul, Turkey | Founded 1984 | |
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Oyak Bank was a financial subsidiary of OYAK Holding (Turkish Army Members Solidarity Fund) and acted in financial area until it is acquired by ING Bank in 2007 and rebranded as ING Bank.
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Cnbc europe agenda europe june 2003 edit
History
US based First National Bank of Boston opened a branch in Istanbul, Turkey in 1984. The bank has operated independently since 1990 with three companies owning majority stakes: Alarko, Cerrahoğlu and Oyak.
The bank's name changed to Turkish Boston Bank A.Ş. again in 1991 and then OYAK purchased the other shares so became the only share holder of the bank. Finally the bank was again renamed to Oyak Bank 1994.
In 2002 Sümerbank merged into Oyak Bank, and today Oyak Bank acts with over 300 branches all around Turkey. The bank has a participation in Ireland and another one in Germany.