Türk Ekonomi Bankası

Türk Ekonomi Bankası (TEB; English: Turkish Economy Bank) is one of Turkey’s oldest financial institutions. 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.

Originally established in the city of İzmit in 1927 as a privately owned joint-stock company with the name Kocaeli Halk Bankası TAŞ, in 2005 TEB entered into a strategic partnership with BNP Paribas.

TEB was one of the first banks in Turkey to invest in mobile banking.[citation needed] The bank’s investments in this business line were centered around its CEPTETEB platform, a mobile application released in 2008.

The first bank in Turkey to enter the private banking business line, TEB has been providing its high-net-worth customers with private banking and asset management products and services since 1989.[citation needed]

TEB first entered the SME banking business in 2005. Another business line in which TEB is active is startup business banking.[citation needed]

As of end-2019, TEB had about nine thousand employees on its payroll and was serving customers through extensive branch and ATM networks, its CEPTETEB and CEPTETEB İŞTE mobile apps, an online banking website, and a call center.

TEB is a partner in American financial company Bank of America's International ATM Partnership.

Three TEB subsidiaries offer services:

TEB Faktoring AŞ is one of the most active players in Turkey’s factoring industry and has been providing corporate and commercial firms as well as SMEs with export, import, and domestic factoring products and services since 1997.[citation needed]

TEB Portföy Yönetimi AŞ is an asset management company that has been in business since 1999.[citation needed]

TEB Yatırım Menkul Değerler AŞ, which commenced operations in 1996, is a brokerage house that carries out capital market transactions on behalf of customers in accordance with the requirements of Turkish capital market laws and regulations.[citation needed]