Isbank’s CEO on coming out of a crisis
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BANKING

Isbank’s CEO on coming out of a crisis

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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.

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    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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