KT Bank AG is our wholly owned subsidiary in Germany. As a financial institute under German law, it is the first bank in Germany and in the Eurozone which introduced comprehensive financial products and services according to the ethical, sustainable and transparent Islamic banking and participation banking principles. We established KT Bank as Germany’s first interest-free bank to pioneer in building bridges between Turkey, the MENA region and the Euro area for this unique business model and sector that is growing worldwide.
KT Bank in Germany welcomes retail and corporate customers of all world views with the mission to become the leading socially responsible and first choice house bank for the Muslim community as well as for all customers who are interested in ethical investments.
The headquarters of KT Bank are in Frankfurt/ Germany. As Kuveyt Türk, we have been laying the groundwork for this operation in Germany since 2004, with firstly establishing a German Kuveyt Türk branch explaining the concept of Islamic banking. In 2010, the Federal Financial Supervisory Authority (BaFin) granted us a license for non-EEA deposit broking. Then in March 2015, after having applied in 2012, the BaFin granted the full banking license under German law for the provision of deposit and credit business. On July 1st, 2015, KT Bank AG started business in its three branches in Berlin, Frankfurt und Mannheim. In 2017, the fourth branch was officially opened in Cologne. KT Bank is a member of the German Banks Compensation Scheme (EdB) which secures clients’ deposits up to € 100,000. Pursuant to the establishment phase in Germany, KT Bank plans to offer Islamic banking products in other countries of Continental Europe.