The original owners of Turkey’s banks can be seen from their names. Seker means sugar, Deniz means sea and Ziraat means farming. So Sekerbank was originally owned by the sugar-beet cooperatives, Denizbank was originally owned by fishermen’s cooperatives and Ziraat was founded by a pasha in the Ottoman Empire to provide loans for farmers.
Vakif means foundation and Vakifbank is owned by a group of publicly owned charitable foundations that were set up at the founding of the republic in 1923 to house many of the assets from the failed Ottoman regime.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
