Türk Ekonomi Bankası (TEB; English: Turkish Economy Bank) is one of Turkey’s oldest financial institutions. BNP Paribas owns 45% of TEB's equity capital directly. The remaining 55% is owned by a holding company that is itself jointly owned by BNP Paribas and the Çolakoğlu Group (50% each).
Overview
In addition to providing its customers with corporate, SME, commercial, treasury & capital market, retail, and private banking products and services, TEB also supplies investment, leasing, factoring, and portfolio management financial services and products through its subsidiaries and group companies. TEB is a bank that provides consumer loans, vehicle loans, housing loans and commercial loans.[1]
Originally established in the city of İzmit in 1927 as a privately owned joint-stock company with the name Kocaeli Halk Bankası TAŞ;<r[2]