Yapı ve Kredi Bankası

Yapı Kredi is one of the first nationwide private banks in Turkey, established in 1944, and positioned as the fourth largest privately owned and by asset size in Turkey, with interest in credit cards, assets under management, non-cash loans, leasing, factoring, private pension funds and non-life insurance. The combined KFS Group’s financial services network; now consists of over 13 million customers and 835 branches across the country.

Yapı Kredi Emeklilik A.Ş is one of the largest pension and life insurance providers in Turkey and has been a major force in the growth and development of pension schemes and group insurance in the country. Its sister company, Yapı Kredi Sigorta A.Ş., is the second largest health insurer in Turkey. Together, the companies provide coverage to approximately 700,000 insureds.

History

Yapı Kredi was acquired by Mehmet Emin Karamehmet's Çukurova Holding in 1984, and Hüsnü Özyeğin became its general manager (until 1987). In 2003 Çukurova Holding reached an agreement with the Turkish bank regulator to sell the majority of its shares in Yapı Kredi within two years. In 2005 the majority of shares in Yapı Kredi were acquired by the owners of Koçbank. Koç Finansal Hizmetler (KFH; Koç Financial Services, KFS), was an equal partnership between Koç Holding and Italian banking giant UniCredit. In 2006 Koçbank was merged into Yapı Kredi, leaving 80% of Yapı Kredi owned by KFS.

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