BNP Paribas, with an A/A-1 rating from Standard & Poor's, A+ from Fitch and Aa3 from Moody's, is one of the leading banks in the Eurozone in terms of profitability, capital size, and market value. BNP Paribas also has one of the largest international networks, with a presence in 74 countries and 193,000 employees worldwide, including 146,000 in Europe.
BNP Paribas Group is organized around two activities: retail banking and services, comprising domestic markets and international financial services and corporate and institutional banking. Firmly anchored in Europe's economic history, BNP Paribas supports its customers and employees in today's changing world. Since 1848, it has grown through a succession of developments, both great and small, that have forged the identity of a group that is both stable and innovative.
BNP Paribas has a long history in Turkey, beginning with the Ottoman Bank (1920) and later followed by BNP Ak Dresdner (1996) and Anadolu Cetelem Consumer Finance (1998). In 2005, BNP Paribas became a 50 percent shareholder of TEB Mali Yatırımlar A.Ş., which owned 85 percent of Türk Ekonomi Bank A.S. (TEB), and consolidated its position within the country. Following the acquisition of Fortis Bank shares by BNP Paribas Group, TEB and Fortis Bank merged in Turkey under the brand of TEB in 2011, and the bank has since continued to grow.
Supported by the strong fundamentals of the Turkish market, TEB became more than an interesting investment opportunity - it became one of Turkey's leading banks in terms of number of branches, size of assets, and the launch of new products. A much stronger Turkish bank has emerged thanks to the cooperation of BNP Paribas and TEB. While the number of branches was 75 in 2005, this increased to 515 by the end of 2016, and the number of employees reached 9,700.
TEB, within the international banking network of BNP Paribas, particularly in the field of retail and commercial banking, offers various innovative, efficient, and effective products, together with services and solutions for a growing and varied customer group. The bank is taking decisive steps to continue its growth and to provide services in Turkey thanks to the support and know-how of BNP Paribas. A significant indication of the strong collaboration with BNP Paribas is that TEB is involved in BNP Paribas' Trade Centers network, which is established in around 100 locations across 60 countries. Furthermore, this partnership has allowed TEB to establish Turkish units in those countries where Turkish entrepreneurs are operating and where BNP Paribas has a strong hand.
BNP Paribas considers Turkey to be a strategic country in which to expand its financial products. BNP Paribas Cardif, which carries out its activities through BNP Paribas Cardif Retirement, BNP Paribas Cardif Life Insurance, and BNP Paribas Cardif Insurance, invested in Turkey in 2007 with 100 percent BNP Paribas capital and carved out a substantial share of the Turkish insurance market with the support of BNP Paribas' strong financial and technological infrastructure.
BNP Paribas Financial Leasing (created in 2011 following the merger of Fortis Leasing and TEB Leasing) is brokering the funding of investments in Turkey as a subsidiary of BNP Paribas Leasing Solutions. It is also delivering its services to a wider population, thanks to the synergy formed between the BNP Paribas Group and the foreign sellers, as well as to the TEB's broad domestic network. Fully aware of its social responsibilities, through TEB, BNP Paribas is carrying on its support for education, the environment, and the public at large with various projects in Turkey.