- Halk Bankası
company_name = Halk Bank
foundation = 1938
key_people = Hasan Cebeci
homepage = http://www.halkbank.com.tr
The First World War and then the Great Depression that began in 1929 engulfed Turkey with shortages, rampant inflation, and high interest rates that severely hurt the tradesmen and artisans that were the foundations of the national economy. None of the banks or public organizations that were created in the early years following the establishment of
Republic of Turkeyin 1923 successfully addressed the problems of this group that made up the single biggest segment of society. In 1933 Turkish Parliamentpassed a law (Statute 2284) concerning the establishment of a state-owned bank and special-purpose funds that would supply credit to tradesmen and artisans and to small businesses on favorable terms in order to "support enduring economic development, maintain social balance, and safeguard domestic tranquility". Originally called Halk Bankası ("People's Bank"), the bank became operational in 1938.
The era of popular banking
The popular banking movement, which paralleled the growth of cooperatives in many countries of the world, got its start in
Turkeywith the establishment of Halkbank. Until 1950 however, the bank only lent money indirectly through the "Popular Funds".
The first branch and direct lending
After 1950 Halkbank was authorized to open branches and lend money directly to borrowers.
In 1964, Halkbank embarked upon an ambitious program in which its capital was increased and the bank became a more active player by establishing a nationwide network of branches. The result was a strong rise in the bank's deposit and lending volumes. Halkbank was the first institution in the Turkish banking industry to focus on the needs of tradesmen and artisans and of the small businesses that are the representatives of the middle class and the backbone of the national economy.
In defining and implementing its lending policies, Halkbank's priority was extending credit to this target audience under the most favorable conditions. In the years that followed, Halkbank grew and played an important role in Turkish banking sector.
Winds of change in the banking industry
In 1992, all the assets and liabilities of TÖBank were taken over by Halkbank. This was followed by the assets and liabilities of Sümerbank in 1993 and of Etibank in 1998. In 2000, Parliament passed a law (Statute 4603) under which state-owned banks were to be restructured to bring them into line with the requirements of modern banking and international competition so as to prepare them for privatization. The process of restructuring Turkish public banks had begun.
A single administration for state-owned banks
In 2001, Statute 4603 was revised to create a single board of governors that would be responsible for all of the country's state-owned banks. Under the new system, Halkbank changed its organizational structure and began remaking itself into a productive and profitable institution capable of creating added value for the national economy within the framework of modern banking principles and the rules of commercial banking.
The dawn of customer focus
In keeping with this objective, Halkbank's organizational structure was completely overhauled to bring it into line with the requirements of modern banking and international competition. The bank's activities were reorganized under five main headings: "Marketing", "Credit", "Support Services", "Non-Branch Profit Centers" and "Financial Control & Risk Management". Customer-focused marketing was also added to Halkbank's operational approach to banking.
In 2001, Halkbank took over 96 branches of the insolvent Türkiye Emlak Bankası. Over the next four years, Halkbank continued to restructure itself.
In the second half of 2004, Halkbank acquired all the assets and liabilities of Pamukbank.
The integration of Pamukbank into Halkbank took place much faster and with far fewer problems. So much so in fact, that the merger is now pointed to as a model in the banking sector.
Newly reformed, Halkbank now focused on customer segmentation in which it became important to develop and offer high-quality products and services addressing the particular needs of
SME's as well as of retail customers in the middle and upper-middle income groups.
Into the future
Just as in the past so too in the future, Halkbank will continue to support the tradesmen, artisans, and small to medium-sized entrepreneurs that are the backbone of the national economy as well as every entrepreneur that contributes to increases in investment, production, and employment in its capacity as a strong, trusted, profitable bank whose approach to modern banking and structure have been renewed and which is ready for future.
List of banks in Turkey
[http://www.halkbank.com.tr/ Official Webpage]
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