About Akbank

• Mission, Vision and Goals
• Akbank in Brief
• Chairman's Message
• CEO's Message
• Milestones
• Subsidiaries
• Awards

Milestones

Akbank, was founded in Adana in January 1948, originally to provide financing for the cotton producers in the region. Growing and developing over time, the Bank opened its first branch in Istanbul in the Sirkeci district on July 14, 1950; in 1954, it relocated its Headquarters to Istanbul. Rapidly increasing the number of its branches, Akbank automated all banking operations in 1963.

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 January 9, 2007, Akbank and Citigroup have successfully completed the strategic partnership agreement according to which Citigroup acquired a 20% equity stake in Akbank for approximately US$ 3.1 billion (YTL 0.095 per share). This strategic partnership with Citigroup contributed dearly to the development of new commercial banking activities, to the improvement of available products and to the development of new products.

Akbank has been conducting overseas activities through its two subsidiaries in Germany (Akbank A.G.) and the Netherlands (Akbank N.V.) and a branch in Malta.