Akbank AG is the successor institution of the German branch of Akbank T.A.Ş. It received its full banking license on 5 April 1998 from the German Federal Financial Supervisory Authority (BaFin) and started providing retail and corporate banking services in Germany. On 23 November 2005, the branch was converted into an Aktiengesellschaft (AG) and registered with the commercial register of Frankfurt am Main. In May 2007, Akbank AG’s shares were transferred to Akbank N.V., a wholly-owned subsidiary of Akbank T.A.Ş. established in 2001 as a Dutch bank under the banking law and regulations of the Netherlands. As a result of the strategic decision to reorganize the European operations of Akbank Group, in particular in order to use capital and other resources in a more efficient way, Akbank N.V. was merged into Akbank AG, with the discontinuation of Akbank N.V.’s activities effective from 15 June 2012.. Upon this merger, Akbank T.A.Ş. has become the sole shareholder of Akbank AG. The merger between Akbank AG and Akbank N.V. resulted in a substantial increase in Akbank AG’s lending and deposit business, triggering a continuous positive trend in the post-merger period. Akbank AG is headquartered in Frankfurt am Main, Germany and its core business areas include corporate banking, trade finance and retail banking. The Bank is a voluntary member of the Deposit Protection Fund of the Association of German Banks, Einlagensicherungsfond des Bundesverband Deutscher Banken and offers protection to both corporate and retail deposit holders up to a level of 20% of its shareholders’ equity on an individual basis.
|Bank Name||AKBANK AG|
|Industry||Banks – Regional – Europe|
|Chairman||Ms. Suzan Sabanci Dinçer|
|CEO||Mr. Sabri Hakan Binbasgil|
23 October 2018 – New Interest Rates