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Formerly | Tekstilbank (Tekstil Bankası A.Ş.) |
---|---|
Company type | Public |
Industry | Finance and Insurance |
Founded | Istanbul, Turkey (1986) |
Headquarters | Maslak, Istanbul, Turkey |
Number of locations | 44 branches (2010) in Turkey |
Area served | Turkey |
Key people | Xu Keen, Chairman Gao Xiangyang, CEO [1] |
Products | Banking Investment banking Investment management |
Parent | ICBC |
Website | www.icbc.com.tr / www.tekstilbank.com.tr |
ICBC Turkey Bank A.Ş., [2] previously known as Tekstilbank A.Ş. was founded in 1986. In 2014, GSD Holding A.Ş sold their 75.5% stock to Industrial and Commercial Bank of China. The acquisition completed in April 2015. In November 2015, the name of the bank changed to "ICBC Turkey". [3] In July 2018, ICBC provided a $3.6-billion loan package for the Turkish energy and transportation sector. [4]
The remaining 24.5% stock is public and is operated in Borsa Istanbul. [5] ICBC Yatirim, a subsidiary of ICBC, provides support to stock market investors. [6]
Turkey is a founding member of the OECD and G20. The country's economy ranked as the 17th-largest in the world and 7th-largest in Europe by nominal GDP in 2023. It also ranked as the 11th-largest in the world and 5th-largest in Europe by PPP in 2023. According to the IMF, as of 2022, Turkey had an upper-middle income, mixed-market, emerging economy. Turkey has often been defined as a newly industrialized country since the turn of the 21st century. The country is the fourth most visited destination in the world, and has over 1,500 R&D centres established both by multinational and national firms. Turkey is among the world's leading producers of agricultural products, textiles, motor vehicles, transportation equipment, construction materials, consumer electronics, and home appliances.
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