Akbank

Akbank T.A.S. is one of the largest banks in Turkey. As of 2017, it had revenues of nearly TL 13.7 billion. Listed on the Borsa Istanbul, its largest shareholders are members of the Sabanci family. Akbank is a bank that offers vehicle loans, housing loans, consumer loans and commercial loans.

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.

As of December 31, 2021, the company operated 710 branches. Akbank T.A.S. was founded in 1948 and is headquartered in Istanbul, Turkey.

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 Bankasi" was chosen, soon to be shortened to its initials AK or Akbank. The founders were Haci Ömer Sabanci, 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 Sabanci family.

Rapidly increasing the number of its branches, Akbank automated all banking operations in 1963.

In 1993, Akbank founded the Akbank Sanat art centre in Beyoglu, Istanbul.

Akbank established Ak Securities in 1996, Ak Investment Fund in 1998, Ak Asset Management Company and its Private Banking Department in 2000. Akbank established Ak Pension Fund in 2003 and incorporated Ak Leasing in 2005. In February 2006, Ak Pension Fund was sold to the Aksigorta insurance company.

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.

In 2008 Akbank in collaboration with Boyner Holding introduced "Fish", a credit card that offers an array of different services and products. In 2008, apart from Boyner, Akbank also signed a partnership agreement with Carrefour SA. Additionally, Akbank introduced new services such as Wings Business Card, Citi Axess, ATMCredit and Multimedia POS to its customers.

As of 31 December 2010, Akbank reported a consolidated net profit of TRY 3,010 million and total consolidated assets of TRY 120,070 million. The consolidated capital adequacy ratio of Akbank, standing at approx 20% is among the highest ratios achieved in the sector.In 2010, Akbank continued to raise funds from international markets with a total of such resources reaching US$8,0 million by the end of the year.

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.

The mission of Akbank is to create superior and sustainable value for all its stakeholders through innovative and reliable financial services. The bank is committed to delivering exceptional customer experiences by providing a wide range of financial solutions that meet the diverse needs of its customers. Akbank aims to be a trusted partner for individuals, businesses, and institutions, offering tailored banking products and services that help them achieve their financial goals.

In addition to customer satisfaction, Akbank is dedicated to creating value for its shareholders and stakeholders. The bank aims to maintain a strong financial position, generate sustainable profitability, and maximize shareholder value. It also recognizes its responsibility towards the broader community and actively engages in social initiatives that contribute to the well-being of society.

The vision of Akbank is to be the leading bank that propels Turkey into the future. This vision reflects the bank's commitment to playing a pivotal role in shaping the economic growth, development, and progress of the country. Akbank aspires to be at the forefront of driving innovation, fostering entrepreneurship, and supporting the transformation of various sectors and industries.

By embracing technological advancements and adapting to the changing dynamics of the banking landscape, Akbank aims to deliver cutting-edge financial solutions and services to its customers. The bank envisions itself as a catalyst for positive change, empowering individuals, businesses, and institutions to thrive and achieve their full potential.

Akbank offers a range of products and services tailored to the needs of expat customers. The Expat Banking division provides personalized assistance through a team of Expat Relationship Managers who offer advice on multi-currency banking, maximizing earnings on foreign exchange deposits, and customized expat products and services. With wealth management expertise, Akbank helps expats manage their assets in multiple currencies. Additionally, in partnership with Ak Securities and Ak Asset Management, they offer a wide range of investment products to help customers meet their financial goals. The Wings Card, designed for travelers, allows expats to earn Travel Miles with every purchase. Akbank also provides tax advisory services and insurance packages customized for expats in Turkey.

For multinational corporations (MNCs) looking to establish or expand their business in Turkey, Akbank offers comprehensive banking solutions through its MNC Department. Their services include cash management, trade finance, treasury solutions, e-banking solutions, financing needs, and corporate finance. With a dedicated team and advanced information technology infrastructure, Akbank offers tailored solutions to integrate local cash management with global systems. With over 900 branches across Turkey, strong financial performance, investment-grade ratings, and a wide array of products, Akbank is an ideal business partner for MNCs.

Akbank also provides international money transfer services through its partnership with Western Union. Customers can send and receive money quickly and securely through Western Union's extensive network of agencies worldwide. Whether an Akbank customer or not, anyone can use this service without the need to open an account with the bank. With convenient branch visits during weekdays or the option to use Akbank Mobile or Akbank Internet for current account holders, customers can easily send and receive money globally. The system generates a unique Money Transfer Control Number (MTCN) for each transaction, ensuring safety and transparency. Akbank charges standard money transfer fees, and there are no additional fees for receiving money.