Kuveyt Türk is 28 Years Old
Foundations of Kuveyt Türk were laid by the entry of Kuwait Finance House, which is incorporated in Kuwait, into the Turkish market in 1989. The Bank started its activity as a Private Finance House on 31 March 1989 through the permit of Central Bank of Turkey dated 28 February 1989 and under the trade name of “Kuveyt Türk Finance Institution of Foundations Joint Stock Company”, then started to provide service in 1999, in accordance with the Banking Law numbered 4389, together with other private financial institutions, and in 2006, it has been renamed as Kuveyt Türk Katılım Bankası A.Ş. (Kuveyt Türk) that it has still been using.
Kuveyt Türk adopts the following principles since the day on which it was established: diligence in Islamic banking system, being investigator in investment field, providing contemporary, consistent, reliable, qualified and expeditious service to account owners and businessmen, training its employees in order to increase their performance. Bank lives the happiness of being able to conducting expeditious and qualified service to account owners and investors, by using any kind of contemporary technologic means, through its branches and correspondent banks in the country and abroad.
Kuveyt Türk, celebrating its 28th anniversary in Turkey in 2017, is making important contributions to the development of participation banking in Turkey, with its conception of corporate governance, innovative products that it offers to its client and its abroad extension.
Solid Partnership Structure
62.24 percent of Bank’s shares are held by Kuwait Finance House, 18.72 percent by the General Directorate of Foundations, 9percent by Social Security Institution of Kuwait State, 9 percent by Islamic Development Bank, the remaining 1.04 percent by other real and legal persons. Kuwait Finance House, which is the major partner of Kuveyt Türk, is the guarantor of the Bank’s consistent improvement, thanks to its fund’s size amounting to billons of US dollars, in addition to its efficient international service network.
Faithful Financial Power
Kuveyt Türk, comes into prominence through its powerful capital structure and its dynamic conception of corporate governance, possesses a paid capital of 2.8 billion Turkish liras as of the 2016 yearend. Total unconsolidated actives of the Bank in 2016 has reached to 48 billion Turkish liras. Kuveyt Türk has an equity capital of 3.9 billion as of 2016 yearend.
Trained, Talented and Dedicated Human Resources
Kuveyt Türk, which offers a great number of financial products and services to its clients, in an efficient, way through its 386 branches outspread throughout Turkey, has 5,588 employees as of the end of 2016.
Kuveyt Türk, aiming at incorporating modern enterprise technics, management and service concept into its structure, with a young and dynamic staff who are expert in their work and almost all of them have bachelor’s degree, is the pioneer amongst the participation banks in Turkey.
The Best Islamic Finance Institution of Turkey
Kuveyt Türk was selected as the “The Best Islamic Financial Institution of Turkey” in a survey conducted in 2016 by Global Finance, which is one of the most important economy and finance magazines of the world, in order to determine the bests of banking sector.
Kuveyt Türk, which adopted as a principle to carry on business in accordance with economic developments as well as the needs and expectations of its clients, offers a great number of products and services to its clients, in individual banking field. Kuveyt Türk, which is the first participation bank who has started to carry on business in individual banking segment, is improving its clientele in a consistent way in this segment and is carrying out reference practices in the sector, thanks to its talent of improving qualified product.
Amongst the participation banks, Kuveyt Türk is the first participation bank which has placed the clients in high income group in private banking segment, opened its first Private Banking branch in Istanbul in 2015, and scaled up its Private Banking client representative number to 10.
Perfect Technologic Infrastructure
Kuveyt Türk, is living the deserved happiness of being a participation bank which offers a great number of novelty to its clients and make them live several first experiences. Kuveyt Türk, which has set its informatics and technology infrastructure in the best form, provides all banking services concerning electronic banking and alternative distribution channels, in the best way. In addition to Visa and MasterCard credit cards, POS ATM, online banking service, call centre, Audio Response System and SMS Banking services are offered in an uninterrupted way.
Pioneer of Gold Banking
The Bank, which continues its leadership amongst banks, through its most high level volume of gold transaction in the market of Precious Minerals and Stones of Istanbul Stock Exchange (BIST), gained the title of being the bank which conducted the gold exchange of Settlement and Custody Bank in 2013. Kuveyt Türk is ranked at the first place amongst the banks, regarding the volume of transactions in silver.
Kuveyt Türk, which is the first and unique Turkish bank and the first participation bank of the world, that has been accepted to London Bullion Market Association, LBMA as having the status of “expert/associate” is the only bank that World Gold Council, WGC mentioned its name with praise, in terms of the affluence in diversity of its products and services related to gold in the market.
The Bank which has introduced Sukuk to Turkey
Kuveyt Türk, which is the pioneer in its sector with regard to the products and services, getting strength from the international experience of Kuwait Finance House, performed an important success in banking sector, carried out two transactions of sukuk issue amounting to a total of 450 million US dollar, in 2010 and 2011.
Kuveyt Türk, carried out issue of the highest volume of lease certificate of private sector until now in Turkey, through 21 sukuk issues amounting approximately to 1 billion 524 thousand Turkish liras in 2015 in the country regarding the qualified investors as well as public offerings, in addition to three transaction of ringit Malaysia amounting to 800 million liras, conducted abroad.
Liquid Management House, which is an affiliate of Kuwait Finance House, is one of three companies which supported the transaction of sukuk issue amounting to 1.5 billion US dollar, and having a maturity term of five years, carried out in 2012, by Republic of Turkey, Undersecretary of Treasury. Kuveyt Türk, which initiated sukuk issue in Turkey in Turkish lira in 2013, has been deemed worthy to be granted the award of “The Biggest Sukuk Issuer” within the scope of Capital Market Congress held in November 2016. Kuveyt Türk has carried out so far an approximate total of 10 billion Turkish liras in denominations of US Dollar, Ringit Malaysia and Turkish lira, 5,5 billion Turkish liras of the said sukuks are being operated in various markets now.
The Bank, keeping the title of the biggest issuer of Turkey, since it carried out an issue of subordinated sukuk amounting to 350 million US Dollar in February 2016, a domestic lease certificate issue amounting to 300 million Turkish liras in May and an international sukuk issue amounting to 500 million US Dollar in November, was deemed worthy to be granted the award of “The Biggest Sukuk Issuer of Turkey” in 2016 in “Capital Market Awards” held by Capital Markets Union of Turkey (CMUT), thanks to its successes in this field.
Next to the Real Economy
Kuveyt Türk is one of the most powerful actors of finance sector of Turkey in terms of the sufficiency of equity capital. In accordance with the principle of banking without interest, both the support of direct financing and joint venture partnership, supporting the real and legal person investors, stands on the sides of real sector actors, therefore provides important contributions to the economy of the country.
Kuveyt Türk, transforms the savings of the clients, who are interest partners, into solid and lucrative investments, through its investments and affiliates in textile, metal, nutrition and real estate sectors, has been granted the praise due to its successes, by public institutions such as the Undersecretary of Treasury and Foreign Trade, Istanbul Chamber of Commerce, and Istanbul Apparel Exporters’ Association and by employee associations.
KT Portfolio Management Company
KT Portfolio A.Ş., established in the last quarter of 2015 in order to offer a solid investment environment for investors in different points of our country and of the world, started its activities at the beginning of 2016.
KT Portfolio is active in almost every field of asset management.
Financial Bridge between Turkey and the World
Kuveyt Türk, getting strength from the developed correspondent network and rooted Islamic banking experience of Kuwait Finance House, acts as a financial bridge for Turkish investors wishing to open to the World, notably the Gulf Region. Making important contributions to the development of trade between Turkey and the Gulf Region through its Bahrain branch, opened to Europe with KT Bank AG, which is hundred percent affiliate of Kuveyt Türk, and started to action in 2015 in Germany.
KT Bank AG has the characteristic of being the first participation bank which has been incorporated in Germany. The bank keeps uninterruptedly its efforts for international project development which are to create new opportunities with regard to the investors.