Market cap

* For banks, enterprise value is substituted with market cap. Source: Bloomberg Finance L.P.

Performance of the brand

Türkiye İş Bankası A.Ş. (İşbank) is the largest private bank in Turkey in terms of total assets and also plays a significant role in the global financial markets, offering individual and corporate customers a wide range of financial and non-financial products and services. Atatürk, the founder of Turkey, formed İşbank in 1924, creating a powerful bond between İşbank and many Turkish people. According to The Banker magazine, İşbank represents the 100^th largest bank worldwide and further claims rank 76 in The BrandFinance® Banking 500 2011 and is also the second most valuable brand within The BrandFinance® Top 100 Turkish Brands 2011. With its 24,000 employees, the financial group possesses one of the most extensive networks among private banks in Turkey, conducting its business through 1,127 domestic branches. However, the bank also enjoys a strong international position with branches in the United Kingdom, Bahrain, Iraq, The Turkish Republic of Northern Cyprus, Germany and two representative offices in Shanghai and Egypt.

The İşbank brand, identified with the recognition as “Turkey’s Bank”, reflects the bank’s corporate qualities of a long-standing tradition, its innovative character and reliability. İşbank’s broad deposit base is also an indicator of its level of customer trust, which has grown continously since the bank’s establishment. Moreover, İşbank is known for its innovative character: In ATM transactions, for instance, bio-identification was introduced, using finger vein authentication instead of a password. In addition, with the “Virtual Counter” application, İşbank started to provide counter services via video calls from headquarters to branches via remote access.

According to the Retail Banker, İşbank is planning to grow its operations in Azerbaijan, Egypt, Iraq and Syria until the end of 2011, and further sees to expand its branch network in Germany. İşbank’s General Manager Ersin Özince adds: “[The government of] Iraq understands this approach despite being a country of high potential [for banking]. It knows the strength of the İşbank brand. It allows us to open a branch because it knows that the İşbank brand would benefit [the country] more than a small bank.”

In the first half of 2011, İşbank’s total assets grew by 12% to TRY 147,891 million. Yet, net income decreased from TRY 1,802 million in the first half of 2010 to TRY 1,476 million in the first half of 2011. The Turkish bank recorded a 37% increase in brand value, growing from $1,662 million in 2010 to $2,280 million in 2011. At the same time, the bank’s brand rating improved from AA- to AA. However, in the second half of 2011, banks especially found themselves struggling in a recurring financial crisis, spurred by weak structural growth within the Euro zone, the deterioration of the European capital markets and by Greece’s everlasting insolvency problem. Consequently, bank brands in the Global 100 have lost a total of $25.9 billion from their total brand value (7%) since January 2011. As a result, also İşbank’s brand value is likely to be affected and might have to face a decrease within the upcoming 2012 brand valuation.

League tables

Isbank appears in the following brand league tables:

Rank 98 in the Banking 500 2012.
Rank 76 in the Banking 500 2011.
Rank 495 in the Global 500 2011.
Rank 2 in the Turkey 100 2011.
Rank 90 in the Banking 500 2010.
Rank 2 in the Turkey 100 2010.
Rank 86 in the Banking 500 2009.
Rank 190 in the Banking 500 2008.
Rank 100 in the Banking 500 2007.
Rank 100 in the Banking 100 2007.