İşbank was established on 26 August 1924 as the first national bank of the Republic of Turkey. The initiative for its founding came directly from Mustafa Kemal Atatürk, and the bank was brought to life under the leadership of Celâl Bayar. It was founded to support Turkey's economic development during the early Republican era and to provide financing for trade, agriculture, and industry sectors.
History
The foundation of İşbank was one of the outcomes of the İzmir Economic Congress held in 1923. It was designed to strengthen the country’s economic independence and introduce the general population to banking practices. The bank began operations with an initial capital of 1 million Turkish lira, 250,000 lira of which was personally provided by Atatürk.
The bank’s head office was initially located in Ankara. In its early years, İşbank provided loans primarily for agriculture, trade, and small-scale industrial enterprises. Celâl Bayar served as its first general manager.
In 1932, İşbank assumed the roles of Turkey’s first industrial and commercial bank and supported the establishment of several state-backed industrial enterprises. Over the following decades, İşbank expanded its network of branches and diversified its services in line with Turkey’s growing economy.
Today, İşbank remains one of the largest banks in Turkey, operating in numerous financial fields including commercial banking, investment, leasing, insurance, and asset management.
İşbank (AA)
Expansion and Modernization
Starting in the 1950s, the bank expanded its branch network and began establishing a presence abroad. During the 1980s, with the liberalization of the financial sector, İşbank began investing in technology and launched initiatives that laid the foundation for digital banking in Turkey.
In 1997, it launched Turkey’s first internet banking branch.
In 2007, it introduced a biometric identity verification system.
In 2012, it implemented a QR code-based payment system (Parakod).
In 2017, it launched Maxi, an artificial intelligence-supported digital assistant.
Structure and Operations
Türkiye İş Bankası operates under the legal form of a joint-stock company. A portion of its shares is publicly traded on Borsa Istanbul. It manages a broad portfolio of financial services through its branches and subsidiaries.
Key operational fields include:
- Retail banking
- Commercial and corporate banking
- Investment services
- Private banking
- International trade finance
- Asset management and insurance
Headquarters and Architecture
The current head office of İşbank is located in the İş Towers complex in Levent, Istanbul. The former head office in Ulus, Ankara, now serves as the İşbank Museum, preserving the institutional and financial history of both the bank and Turkey’s early Republic era.
İşbank Museum (AA)
Cultural and Social Contributions
İşbank is also active in culture and education. Its key initiatives include:
- İşbank Cultural Publications, which has been publishing since 1956
- İş Sanat, an art and performance venue hosting concerts, exhibitions, and plays
- İşbank Museum, offering curated exhibitions on economic history and banking heritage
Governance and Legal Status
İşbank is organized as a joint-stock company. A portion of its shares is publicly traded on Borsa Istanbul. The bank is governed by executives appointed by the general assembly and the board of directors.
