Turkey’s İş Bankası eager to open branches abroad

November 15, 2010, Monday/ 11:40:00

Turkey's İş Bankası is eager to open branches in foreign countries, the director general said on Monday.

The bank's director general Ersin Özince said İş Bankası was thinking of opening branches in Iraq, Azerbaijan, Egypt and Syria.

"We plan to open branches in Baku, Cairo, Baghdad, Irbil, Basra, Kirkuk and Sulaymaniyah, and we wish to open İş Bankası branches in Aleppo and Damascus," Özince told the Anatolia news agency in the central province of Konya.

Özince said İş Bankası had recently bought Bank Sofia, which had 15 branches and representations in Russia, and was planning to raise its branches of German-based Isbank GMBH.

Isbank GMBH had got a permission to open branches in Sofia, and the company would do so as soon as possible, Özince said.

Özince said İş Bankası was opening almost 60 branches in Turkey every year, and its branches throughout Turkey had reached 1,123 so far.

"I think we will have more than 1,200 branches next year, and we are employing some 24,000 people at the moment," Özince said.

Özince also said the bank was opening at least 50 branches and employing 1,000 people every year.

Founded in 1924, İş Bankası began to operate with two branches and 37 staff.

As of March 2010, İş Bankası has 1,084 domestic and 15 international branches, and employs 23,040 people.

With total assets have reached TL113.2 billion (75.9 billion USD) as of year-end 2009, the bank posted a net profit of TL955 million (640.9 million USD) in Q1 of 2010.

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