Kuveyt Türk declares taxes of 159,650,000 TRY in the taxation period of 2015 and ranks first among participation banks, 19th in Turkey’s Top 100 and 10th among all banks.
We have been deservedly awarded by the Association of Capital Markets of Turkey (TSPB) for the work we have contributed this year to the sector. By trading sukuk worth 350 million USD of capital in February 2016, 300 million TRY worth of domestic rent certificate in May and 500 million USD worth of international sukuk export in October, once again we have kept the title of being Turkey’s biggest issuer this year. In addition to this award, we have also been rewarded Turkey’s Best Islamic Financial Institution Award by Global Finance and “Turkey’s Best Issuer of the Year” by Islamic Finance News.
Kuveyt Türk obtains a license from BaFin, the German Federal Banking Regulation Authority, to provide banking services in Germany and starts its operations. With this license, KT Bank AG starts operating in accordance with the interest-free banking business model in Germany.
Kuveyt Türk starts “Private Banking”, a first in the participation banking sector.
Kuveyt Türk establishes KT Portföy, a portfolio management company to serve interest-free financing principles.
Kuveyt Türk launches “Your Bank”, its branchless and free digital banking platform. Your Bank is a new generation banking approach combining participation banking with internet innovations and opportunities.
Kuveyt Türk completes the first XTM project in the world where video-call and self-service operations can be performed together and presents it to customers in Istanbul at 22 different locations.
Kuveyt Türk puts the latest version of Mobile Branch into service by adding many functions and carrying out user tests.
Kuveyt Türk becomes the first bank to appoint a Board Member Ethics Responsible in Turkey.
With its social responsibility mission, Kuveyt Türk launches a donation campaign with Hope Foundation for Children with Cancer (KAÇUV) in the fight against cancer, a disease becoming ever more prevalent in Turkey.
The Islamic International Rating Agency (IIRA), which rates Islamic/Interest-Free Banks, updates Kuveyt Türk’s short-term national rating from “A+” to “AA-” and its long-term national rating from “A-1” to “A-1+”.
Kuveyt Türk’s Rent Certificate Public Offering with a maturity of 364 days and worth 150 million TRY is concluded with twice the demand.
Liquidity Management House, an affiliate of Kuwait Finance House, is one of the three companies to support the Turkish Treasury’s first sukuk issuance transaction worth 1.5 billion USD with a five-year maturity.
Following Gold Plus Gold Fund, Kuveyt Türk performs silver fund exports under Silver Plus. The Silver Plus Investment Fund starts to be traded at the CBRT.
Kuveyt Türk becomes the sole bank to be praised for the diversity of its products and services related to gold in the market by the World Gold Council (WGC) in its 2012 special report.
Having realized the second sukuk export based on the rent certificates in 2011, Kuveyt Türk provides foreign resources worth 350 million USD to the Turkish economy.
Kuveyt Türk improves its service network in terms of quality and speed and increases its number of branches in Turkey and abroad to 180.
In 2011, Kuveyt Türk becomes the first and only Turkish bank to have “expert/associate” status in the London Bullion Market Association (LBMA), while becoming the world’s first participation bank.
Through its first sukuk transaction with Liquidity House (LH) and Citibank acting as co-leading regulators, Kuveyt Türk introduces this financial product to the Gulf Region and Malaysia where it has a large area of application. A 1.5 fold demand is received for the transaction with 3-year maturity worth 100 million USD from the leading financial centers of the world.
In December 2010, international rating agency Fitch Ratings raises Kuveyt Türk’s long-term credit rating in TRY from “BBB-” to “BBB” and also assesses its outlook as “positive”.
At the Dubai International Finance Center (DIFC), the bank starts to serve as a bank affiliate with a capital of 12 million US Dollars.
It transforms its representative branch in Germany into a Financial Services Branch.
The usury syndication, which received 265 million USD worth of demand with the participation of banks in the Gulf Region and Europe and implemented with a two-year maturity of 200 million USD, significantly increases Kuveyt Türk’s reputation in international markets. Kuveyt Türk launches innovative products to the market such as Gold Swap, Gold-to-Gold and Gold Cheque.
Kuveyt Türk becomes the first participation bank to initiate the forward application, fixing the exchange rate in forward foreign exchange transactions.
As the first and only participation bank in the Istanbul Gold Exchange, it starts selling gold in grams, taking its first step in the field of Gold Banking.
The bank adopts its current title Kuveyt Türk Katılım Bankası A.Ş. (Kuveyt Türk).
International credit rating agency Fitch Ratings raises Kuwait Turk’s individual rating from “D/E” to “D” and its long-term national rating from “AA (-)”
to “AA (TUR)”.
With a four-year maturity usury syndication amounting to 50 million USD for GAP Güneydoğu Tekstil, Kuveyt Türk provides the longest-term credit received from the Gulf countries to date.
Kuveyt Türk wins the Success Award at the Istanbul International Finance Forum for its contribution to the interest-free banking sector.
Kuveyt Türk opens its first foreign representative branch in Mannheim, Germany.
Kuveyt Türk makes an agreement with PTT, which has almost a 1000 online branches, in order to provide interest-free banking services throughout Turkey.
Kuveyt Türk becomes VISA’s first private finance institution member.
The bank launches Palmiye Card, the first commercial card with instalments.
The bank starts to provide personal banking services.
It becomes the first interest-free finance institution to qualify for the ISO 9001-2001 Quality Certificate in Europe.
Kuveyt Türk starts to direct its banking activities subject to Banking Law No. 4389.
Kuveyt Türk offers its first credit card to its customers.
The total number of Kuveyt Türk branches increases to 16.
Körfez Gayrimenkul A.Ş., an affiliate of Kuveyt Türk, is founded.
Kuveyt Türk is awarded the Gold Medal by the Istanbul Ready-Made Garment and Apparel Exporters’ Association for its support to exports.
The central branch starts operating at its new service building.
It completes its first mass housing project, Huzur Sitesi, and hands it over to the owners.
Kuveyt Türk General Directorate and its branch network are connected online..
State Economic Enterprises are credited with Gulf funds for the first time thanks to Kuveyt Türk. To this end, 50 million USD is raised as funds from the Gulf countries.
As a result of the international banking services offered during the year, a total of 39 million USD worth of foreign currency entry is provided from exports and invisible items.
Kuveyt Türk is awarded a Gold Medal for its contributions to the ready-made garment industry.
Kuveyt Türk’s founding capital doubles.
Kuveyt Türk is established on March 31, 1989, under the title “Kuveyt Türk Evkaf Finans Kurumu A.Ş.” with the permission of the Central Bank of the Republic of Turkey dated February 28, 1989.