Yapı Kredi


Yapı Kredi is one of the first nationwide commercial banks in Turkey, and is the fourth largest publicly owned bank in Turkey by its asset size. It was established in 1944 by Kazım Taşkent. The bank is owned as a joint venture by two Fortune Global 500 companies, Koc Holding and UniCredit. Assets of the bank include the credit cards, assets under management, non-cash loans, leasing, factoring, private pension funds and non-life insurance. The combined financial services network of the bank consists of 835 branches across the country with over 13 million customers.
Yapı Kredi Emeklilik A.Ş is one of the largest pension and life insurance providers in Turkey and has been a major force in the growth and development of pension schemes and group insurance in the country. Its sister company, Yapı Kredi Sigorta A.Ş., is the second largest health insurer in Turkey. Together, the companies provide coverage to approximately 700,000 insureds.

History

Yapı Kredi was acquired by Mehmet Emin Karamehmet's Çukurova Holding in 1984, and Hüsnü Özyeğin was its general manager until 1987. In 2003 Çukurova Holding reached an agreement with the Turkish bank regulator to sell the majority of its shares in Yapı Kredi within two years. In 2005 the majority of shares in Yapı Kredi were acquired by the owners of Koçbank. Koç Finansal Hizmetler, was an equal partnership between Koç Holding and Italian banking giant UniCredit. In 2006 Koçbank was merged into Yapı Kredi, leaving 80% of Yapı Kredi owned by KFS.