Isbank’s CEO on coming out of a crisis
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Isbank’s CEO on coming out of a crisis


Isbank’s chief executive Hakan Aran sees embedded finance and an innovative approach to bank branches as the future as the Turkish bank looks to rebuild on a better market environment for its 100-year anniversary.

Isbank is celebrating its centenary this year. But as chief executive Hakan Aran sits down with Euromoney in his office on the 37th floor, overlooking a cloudy Istanbul, he is keen to talk about the future. He likes to spend his time thinking about transformation; whether green, digital or even the transformation of the bank’s bricks-and-mortar branch network.

In addition:

  • Not just a bank
  • But looming over this, like the clouds that hang over the Bosphorus, is the operating landscape for the bank. Turkey’s economy is still taking baby steps out of a period of volatility and regulatory uncertainty that caused Isbank and other privately-owned banks to shut down long-term lending and move their focus from profits to balance sheet management.

    “It was a huge risk management activity for us,” says Aran, describing the last couple of years since the Covid pandemic. “It was a huge effort just to manage the currency risk.”

    The regulatory uncertainty was created by previous efforts by the government to tackle inflation without raising interest rates.


    Lucy joined Euromoney in January 2023 as a reporter. She previously worked for sister publication IFLR covering all things financial regulation in EMEA, including crypto, ESG, bonds, ECM, M&A, restructuring and insolvency. Before this, she interned at the FT’s Investors’ Chronicle after finishing a Classics degree at Oxford University.
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