DenizBank A.Ş.
Type Public (ISE: DENIZ)
Industry Finance and Insurance
Founded Istanbul, Turkey 1938
Headquarters Esentepe, Istanbul, Turkey
Number of locations 489 Branches (2010) in Turkey
Area served Turkey
Key people Hakan Ateş, CEO
Products Banking
Investment banking
Investment management
Employees 9,189 (2010)
Parent Dexia

DenizBank A.Ş. (Deniz meaning Sea in Turkish) is a private bank in Turkey controlled 99.79% by the French - Belgian bank Dexia since May 2006.

DenizBank was established in 1938 as a state-owned bank to help finance the then emerging Turkish maritime industry. In 1992, the Turkish government decided to consolidate a number of state-owned banks, and DenizBank merged into Emlakbank.

In 1997, a banking license was auctioned by the government under the name DenizBank without any significant assets except three branch buildings. Zorlu Holding acquired the bank from the Privatization Administration for $70 million in 1997, and operations commenced in September of that year. With the revitalization program initiated, new branches were opened under the new corporate identity. Expansion was supported by acquiring some branch offices from other banks, including Tarişbank in 2002. It went international by establishing or acquiring banks in Austria, Russia and the Turkish Republic of Northern Cyprus. Furthermore, DenizBank extended its product range by adding services like investment banking, brokerage, factoring and leasing, which all were formed under the leadership of DenizBank to "Deniz Financial Services Group". The group of 13 companies employs more than 10,000 people.

On May 31, 2006, the Belgian bank Dexia purchased 75% the stake for US$ 2.437 billion from Zorlu Holding and announced that the bank’s name would not change. The remaining 25% of the shares is being held publicly. DenizBank has 489 branch offices as of 20.09.2010[1].


Deniz Financial Services Group

as of 28.01.2010[2]

No Name of Company Country Industry
1 DenizBank A.Ş. Turkey Banking
2 DenizBank AG Austria Banking
3 CJSC Dexia Bank Russia Banking
4 Deniz Finansal Kiralama A.Ş. Turkey Financial Leasing
5 Deniz Faktoring A.Ş. Turkey Factoring
6 Deniz Yatırım Menkul Kıymetler A.Ş. Turkey Securities
7 Intertech Bilgi İşlem ve Pazaralama Ticaret A.Ş. Turkey IT / Computing
8 Ekspres Yatırım Menkul Değerler A.Ş. Turkey Securities
9 Deniz Portföy Yönetimi A.Ş. Turkey Portfolio Management
10 Deniz Kültür Sanat Yayıncılık Ticaret ve Sanayi A.Ş. Turkey Culture & Art Publishing
11 Deniz Yatırım Ortaklığı A.Ş. Turkey Trust Company
12 Euro Deniz International Banking Unit Limited Turkish Northern Republic of Cyprus Offshore Banking
13 Pupa Gayrimenkul Kiralama ve Yönetim Hizmetleri A.Ş. Turkey Real Estate Leasing and Management Services

Companies Sold Under Agreement With The European Union

Due to Dexia's agreement with the European Union, certain businesses were required to be sold. The ones being sold from the DFSG are listed as below.[3]

No Name of Company Country Industry
1 Deniz Emeklilik ve Hayat A.Ş.[4] Turkey Pension and Life Insurance

Companies Sold

No Name of Company Country Industry
1 Deniz Türev Menkul Değerler A.Ş.[5] Turkey Securities

Products and Services

  • Retail Banking
  • Private Banking
  • Business Banking
  • Agriculture Banking
  • Corporate Banking
  • Commercial Banking
  • Public Finance [1].


  1. ^ a b "DenizBank A.Ş. About Us". DenizBank A.Ş.. 
  2. ^ "Kamu Aydınlatma Platformu (Public Disclosure Forum)". Kamu Aydınlatma Platformu (Public Disclosure Forum). 
  3. ^ "Dexia: Positive outcome from European Commission negotiations". Association des Banques et Banquiers, Luxembourg. 
  4. ^ "Dexia Sells 99.86% Stake In Turkey's DenizEmeklilik To MetLife", by Inti Landauro, Fox Business, June 27, 2011, Retrieved October 2, 2011.
  5. ^ "Denizbank A.S. Sells Deniz Turev Menkul Degerler A.S.", by Reuters Ticker, Reuters U.S. Edition, July 20, 2011, Retrieved October 2, 2011.

External links

See also

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