ICBC Turkey Bank A.Ş. (formerly named as Tekstil Bankası A.Ş.) was incorporated as a privately owned bank and authorized to accept deposits, on April 29th1986 and started its operations on October 13th1986.
Shares of the Bank have started publicly traded and listed on Borsa İstanbul (İstanbul Stock Exchange - BIST) as of May 23rd1990.
The Bank has grown until 2006 based on the banking strategy predominantly focusing on commercial and corporate banking. In 2006, the Bank restructured its retail banking organization and since then has started providing services in this area as well. The Bank has continued to meet the needs of its customers with boutique banking concept by closely following the developments in the banking sector, including the commercial-corporate banking, retail banking and the investment banking areas.
GSD Holding A.Ş. acquired 75.5% of the Tekstil Bankası A.Ş.'s shares and became the majority shareholder in 2007; and the remaining shares at 24.5% continued to publicly trade at the BIST.
In 2008, the Bank's share capital was increased from 300 million TL to 420 million TL; 60 million TL out of this incremental share capital was obtained from the internal sources and the remaining 60 million TL was paid in cash.
The Bank belonged to GSD Group until May 21st 2015. With its resolution dated April 2nd 2015 and numbered 6262, the Banking Regulation and Supervision Agency (the BRSA) authorized the transfer of all of the shares owned by GSD Holding A.Ş. corresponding to 75.5% of the Tekstil Bankası A.Ş.'s shares, to Industrial Commercial Bank of China Limited (ICBC), domiciled at the People's Republic of China. On April 28th 2015, the Bank made an announcement in the "Public Disclosure Platform" related to the transfer transaction and calling for an Extraordinary General Assembly to be held on May 22nd 2015 to resolve on the approval of the existing board of directors and reappoint the new ones to substitute them. May 22nd 2015 was determined to be the date on which the shares were to be transferred in accordance with the share purchase and sale agreement and the share transfer was realized on the same date. As of May 22nd 2015, the Bank was included in the group of foreign banks incorporated in Turkey.
Pursuant to the Article 11, related to the mandatory bid offer transactions, of the Communiqué on Mandatory Bid Offers issued by the Capital Markets Board, with Serial Number II. 26.1, ICBC became obligated to make a share purchase proposal to purchase the remaining shares belonging to the other shareholders as a result of its purchase of the shares owned by GSD Holding A.Ş. representing 75.5% of the share capital of Tekstil Bankası A.Ş. In this context, ICBC, the majority shareholder of the Bank, made a mandatory bid offer pursuant to the "Communiqué on Mandatory Bid Offers" with Serial II, No.26.1, which expired on August 14th 2015, as a result of which the shares of the Bank held by ICBC increased from 75.50% to 92.82%.
By the capital increase made in 2017, share capital of the Bank, which used to be 420 million TL, has been increased by an amount of 440 million TL in cash, to 860 million TL. As a result of the capital increase, shares hold by the major shareholder ICBC in the share capital of the Bank, has increased from 92.82% to 92.84%.
The trade name of our Bank has been changed from "Tekstil Bankası A.Ş." to "ICBC Turkey Bank A.Ş." pursuant to the general assembly resolution taken on November 5th 2015 and this matter was registered with the trade registry on November 13th 2015 and published in the Turkish Trade Registry Gazette dated November 19th 2015 and numbered 8950.
Our Bank conducts its operations through its Head Office located in İstanbul and 44 branches nationwide. Aside from its branches, the Bank also provides banking services through its online retail and corporate branches.
On the other hand, capital markets and investment banking services out of the banking services, are provided by ICBC Turkey Yatırım Menkul Değerler A.Ş., 99.998% of which is owned by the Bank.
Tekstil Portföy Yönetimi A.Ş., 100% of the share capital of which is held by ICBC Turkey Yatırım A.Ş., has been incorporated on the date of 21 April 2015 and by the resolution taken at the extraordinary general assembly meeting held on 05 November 2015, its trade name has been changed as "ICBC Turkey Portföy Yönetimi A.Ş.". Main field of activities of the company is to establish and manage investment funds.
ICBC Turkey Bank A.Ş. participated in TakasNet system in 2012.