DenizBank Financial Services Group

The roots of the DenizBank Financial Services Group (DFS Group) date back up to 1997 when DenizBank was privatized. Originally, DenizBank was established as a state-owned bank in 1938, primarily to help finance the newly emerging Turkish maritime industry. DenizBank soon became one of the foremost names in the Turkish banking industry thanks to its high standards and the diversity of the services it provided. In 1992, following a decision by the government to consolidate a number of state-owned banks, DenizBank merged with Emlakbank. In 1997, DenizBank left this union and was privatized as a separate entity. DenizBank, joining in the Zorlu Group after the privatization realized in 1997, was transferred to Dexia, a prominent European financial group in accordance with the sales agreement signed in May 2006 between Zorlu Group and Dexia. DenizBank Financial Services Group which is presently continuing to operate within Dexia Group is the 6th biggest private bank of Turkey with its 13 subsidiaries and 359 branches in Turkey and abroad as of the first half of 2008.

From A Bank To a Financial Services Group

After DenizBank was acquired by Zorlu Holding, a revitalization program was initiated that encompassed the hiring of new personnel and opening branches under the new corporate identity. This was achieved under the guidelines of a five-year strategic plan where all targets were successfully met. Expansion was supported by the acquisition of a number of branch offices from SDIF-controlled banks, as well as several financial companies including Tarişbank, which joined the Group at the end of 2002. Additionally, DenizBank established and/or acquired financial companies that included banks in Austria and Russia in addition to factoring, leasing, investment and asset management companies to complement its existing banking products and services.

Encouraged by its strong capitalization and good financial standing, DenizBank was able to take advantage of rapid developments in the financial services industry and moved quickly to the forefront. In 2003, DenizBank Financial Services Group was set up along the lines of a financial supermarket able to offer a wide range of financial services.

All Contemporary Financial Servıces Under A Single Umbrella

In addition to DenizBank, the DFS Group has 8 domestic and 2 international financial subsidiaries, a branch in Bahrain, as well as EuroDeniz Off-Shore Bank Ltd, an off-shore banking subsidiary in the Turkish Republic of Northern Cyprus. These subsidiaries are DenizYatırım Securities, EkspresInvest, Deniz Investment Trust, Deniz Portfolio Management, DenizTürev Securities, DenizLeasing, DenizFactoring, Intertech, DenizHayat and DenizKültür on the domestic side and DenizBank AG and CJSC Dexia Bank on the international side. (The title of CJSC DenizBank Moscow was changed as CJSC Dexia Bank in the first quarter of 2008)

With major operations, financial control and accounting functions centralized, the DFS Group has successfully transformed DenizBank’s branch offices into marketing centers thereby optimizing the number of employees and improving operational efficiency.

A Service Network Reaching All Segments Of The Society

The DFS Group possesses a service network that reaches all segments of society throughout Turkey. It also has a solid standing in the Internet environment providing the facility to conduct financial transactions from anywhere in the world to both individual and corporate customers.

With adherence to the highest ethical business practices and corporate governance principles, the DenizBank Financial Services Group has created sustainable, multi-faceted relationships with corporate and retail clients by specially focusing on segments such as retail customers, SMEs, exporters, public/project financing and corporate clients. The DFS Group also serves certain niche markets such as ship financing, tourism, agricultural loans, foreign construction projects, medical care and education.

The Group continually strives for excellence in its core business areas utilizing a carefully developed branch network equipped with the state-of-the-art technology and accompanied by alternative distribution channels. Drawing on the experience and vision of its management team, the DFS Group provides its customers with services that are of the highest quality.

Expanding Beyond Its Borders

Turkey, now on the verge of becoming an EU member, is rapidly transforming its institutions to comply with EU standards and practices. Since the first day of its establishment, DenizBank and its financial institutions adopted the best international business practices. The DFS Group operates in EU countries as well through DenizBank AG, its subsidiary based in Vienna, Austria.

The Group also has a subsidiary in Russia, another important trading partner for Turkey. CJSC Dexia Bank, renders services to customers engaged in commerce in the region and is able to meet a variety of their financial requirements.

Supported by its strong shareholder base and successful financial performance, the DFS Group aims to become one of the leading financial services groups in Turkey. It plans to expand beyond Turkey’s borders into the EU and Russia through its subsidiaries.