Türk Ekonomi Bankası

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Türk Ekonomi Bankası A.Ş.
Company typeAnonim Şirket
IndustryBanking
Founded1927
HeadquartersIstanbul, Turkey
Key people
Ümit Leblebici
ProductsFinancial Services
SubsidiariesTEB Yatırım, TEB Faktoring, TEB Portföy Yönetimi
Websitewww.teb.com.tr

Türk Ekonomi Bankası A.Ş. (Turkish Economy Bank) is one of Turkey’s oldest financial institutions. In addition to providing its customers with corporate, SME, commercial, treasury & capital market, retail, and private banking products and services, TEB also supplies investment, leasing, factoring, and portfolio management financial services and products through its subsidiaries and group companies.


Originally established in the city of İzmit in 1927 as a privately-owned joint-stock company with the name Kocaeli Halk Bankası TAŞ, in 2005 TEB entered into a strategic partnership with BNP Paribas, a leading euro area banking group.


Taking a customer-focused approach to banking, TEB continues to expand its active customer base through the provision of digital products and services. Seeking to reach its customers through many different channels, TEB strives to provide them with quick, convenient, and secure access through digital channels as well.


TEB was one of the first banks in Turkey to invest in mobile banking. The bank’s investments in this business line were centered around its CEPTETEB platform, a mobile application that introduced many innovations not just in the Turkish banking industry but throughout the world when it was released in 2008. Given a makeover in 2015, CEPTETEB became the primary mobile banking channel for TEB’s retail customers. In early 2020, TEB introduced CEPTETEB İŞTE (“CEPTETEB For Business”) , a version of the app specifically designed for its SME, corporate, and microbusiness banking customers. The rapidly-won success of CEPTETEB İŞTE earned the app an award in the “Mobile” category of the “Innovation in Digital Banking Awards” series organized by The Banker, an international financial affairs monthly owned by The Financial Times. [1]


The first bank in Turkey to enter the private banking business line, TEB has been providing its high-net-worth customers with private banking and asset management products and services since 1989. In keeping with TEB’s “consultant bank“ approach, TEB Private Banking proactively seeks to acquaint its clients with a variety of investment alternatives that go beyond traditional products and services.


Having first entered the SME banking business line in 2005, in 2019 TEB overhauled its SME banking business model in order to better address the changing and increasingly more diversified requirements of SME customers through market segmentation focusing on such customers’ particular needs. Firms requiring specialized services for example are provided with bespoke services ranging from foreign trade to project finance and from derivatives trading to supplier financing. The bank’s digital service model was also revised both to make it easier for smaller businesses to take care of their day-to-day banking needs and to automate credit-allocation processes. Having entered the SME banking business line with the intention of acting as such customers’ financial adviser, TEB’s success has been recognized by the International Finance Corporation, a member of the World Bank Group, which cited TEB as one of the world’s three best banks active in SME banking. [2]


Another business line in which TEB is active is startup business banking, which it entered in order to contribute to the growth and development of Turkey’s entrepreneurial ecosystem. TEB Startup Business Banking proactively seeks out startup companies (especially techs) throughout the country in order to help them transform their innovative business ideas into economic value. In the particular case of fintechs, which play a crucial role in the digital transformation of the financial services industry, TEB regards them as medium and long-term business partners and engages with them as one of the actors shaping the industry’s future.


TEB Corporate Banking focuses on providing large-scale national and international firms, corporate groups, and holding companies with high-added-value corporate banking products and services. In this business line, TEB supplies such customers with foreign trade finance, operating and investment loans, working capital and investment-financing loans, cash-management and risk-management products, standard and derivatives products, corporate investment banking products, and commodity financing and project financing services. Products and services which have been shaped in line with the bank’s long-term customer relationship approach, are supplied through foreign trade centers and specialized and specialized multinational firms staffed by experienced and knowledgeable teams.


Seeking to be a “good bank” that benefits employees, customers, stakeholders, and the community, TEB contributes to the financial services industry with value-adding products and services while also supporting efforts to help create a better future through activities that generate value and have a positive impact on society. TEB develops, carries out, and takes part in social responsibility projects that benefit the whole country by addressing issues ranging from innovation to sport, from financial literacy to entrepreneurship, and from micro-enterprises to women-owned businesses.


As of end-2019, TEB had about nine thousand employees on its payroll and was serving customers extensive branch and ATM networks, its CEPTETEB and CEPTETEB İŞTE mobile apps, an online banking website, and a call center. [3]


Three TEB subsidiaries make it possible for the bank to offer its customers a complete line integrated services:


TEB Faktoring AŞ is one of the most active players in Turkey’s factoring industry and has been providing corporate and commercial firms as well as SMEs with export, import, and domestic factoring products and services since 1997.


TEB Portföy Yönetimi AŞ is an asset management company that has been in business since 1999.


TEB Yatırım Menkul Değerler AŞ, which commenced operations in 1996, is a brokerage house that carries out capital market transactions on behalf of customers in accordance with the requirements of Turkish capital market laws and regulations.


References

  1. ^ [1] CEPTETEB İŞTE'ye bir ödül de The Banker'den
  2. ^ [2] TEB ranks among the top world banks for its SME banking activities
  3. ^ [3] TEB'den KOBİ ve işletmeler için yeni platform: CEPTETEB İŞTE

External links

Sources

  • TEB 2019 Annual Report, TEB, 2019 {{citation}}: |archive-date= requires |archive-url= (help)CS1 maint: url-status (link)
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