ING

ING is the Turkish subsidiary of the Netherlands-based ING Group and operates as a banking brand serving individuals and businesses in Turkey. The institution's history in the country predates the ING name. A First National Bank of Boston branch opened in Istanbul in 1984, and the Turkish operation later became an independently operating bank with ownership associated with Alarko, Cerrahoğlu and OYAK. OYAK, the Turkish Armed Forces Pension Fund, ultimately became the sole shareholder and renamed the institution Oyak Bank in 1996. The bank expanded its domestic presence through the 2002 merger with Sümerbank. At that point, the combined institution had more than 300 branches across Turkey. The bank also maintained branches in Ireland and Germany, reflecting an international dimension before its acquisition by ING. In December 2007, Oyak Bank became part of ING Group. Following the transaction, the Turkish operation adopted the ING brand and became known as ING Bank in Turkey. ING Turkey's activities center on retail banking for individuals and commercial banking for companies. Its related financial offering includes banking accounts and other deposit or payment services, lending, insurance-related products and asset-management services. The available reference material does not provide a current product catalogue, financial figures, executive roster, branch count or official website, so those details are not specified here. The subject is the Turkish subsidiary described by the article ING (Turkey), rather than ING Group as a whole.

The Turkish banking operation associated with ING began in 1984, when the United States-based First National Bank of Boston opened a branch in Istanbul. By 1990, the Turkish business was operating independently. Majority ownership was held by three Turkish groups: Alarko, Cerrahoğlu and OYAK. The institution returned to the name Turkish Boston Bank A.Ş. in 1991. OYAK subsequently acquired the interests held by the other shareholders and became the bank's only shareholder. In 1996, the institution was renamed Oyak Bank. This period established the OYAK-linked identity that defined the bank before its integration into ING Group. A major expansion occurred in 2002, when Sümerbank merged with Oyak Bank. The enlarged bank had more than 300 branches throughout Turkey. The operation also had branches in Ireland and Germany, according to the reference article. These activities gave the bank a broader geographic and operating base before its change in ownership. In December 2007, ING Group acquired Oyak Bank. The Turkish institution subsequently became ING's local banking subsidiary and operated under the ING Bank name. Its business scope includes retail banking for individuals and commercial banking for businesses, supplemented by associated insurance and asset-management products. The available source material does not establish a detailed account of later organizational changes, current management, financial performance or present-day branch numbers.

1. 2007Oyak Bank joined ING Group

   ING Group acquired Oyak Bank in December 2007, bringing the Turkish institution into the ING organization.

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2. 2002Sümerbank merged with Oyak Bank

   The merger substantially enlarged the bank's Turkish branch network, which exceeded 300 branches according to the reference.

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3. 1996The institution became Oyak Bank

   After OYAK acquired the other shareholders' interests and became sole owner, the bank adopted the Oyak Bank name.

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4. 1991The bank was renamed Turkish Boston Bank A.Ş.

   The Turkish institution again used the Turkish Boston Bank A.Ş. name.

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5. 1990The Turkish operation began operating independently

   The institution was described as operating independently from 1990, with Alarko, Cerrahoğlu and OYAK holding majority stakes.

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6. 1984First National Bank of Boston opened an Istanbul branch

   The banking operation that later became associated with ING Turkey began when First National Bank of Boston established a branch in Istanbul.

   Source

A Turkish universal-banking operation combining retail and commercial banking under the ING Group brand.

• Retail bankingBanking

  ING Turkey provides banking services to individual customers. The available reference identifies retail banking as a core activity, but does not enumerate specific current account, card, mortgage or digital-banking products.

• Commercial bankingBanking

  The Turkish subsidiary serves businesses through commercial banking. The source confirms this business area but does not provide a detailed breakdown of corporate lending, transaction banking or treasury products.

• Insurance and asset-management productsFinancial services

  The ING Turkey operation is described as offering related financial products including insurance and asset management alongside its banking services. Specific products, providers and distribution arrangements are not identified in the supplied material.

• 2007ING Group acquired Oyak BankM&A

  Oyak Bank was an established Turkish bank with a large domestic branch network following its merger with Sümerbank.

  What changed. ING Group acquired the institution in December 2007, making it the group's Turkish banking subsidiary and leading to the use of the ING brand.

  Aftermath. The former Oyak Bank operation became ING Bank in Turkey and continued serving retail and commercial customers.

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• 2020Melanie Evans becomes chief executive

  Melanie Evans took over as chief executive, becoming the first woman and Australian to lead ING's Australian subsidiary according to the cited reference.

  Leadership change
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• 2017ING DIRECT brand becomes ING

  The Australian operation retired the ING DIRECT name and adopted the shorter ING brand.

  Other
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• 2014ING completes private-cloud banking infrastructure program

  The Zero Touch project moved the bank's operating platform into a private-cloud environment after a multiyear technology upgrade.

  Other
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• 2009ING exits jointly owned Australian insurance and wealth venture

  ING sold its interest in the Australian insurance and wealth-management joint venture to ANZ, which became the sole owner; the business was later known as OnePath.

  M&A
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• 2007ING Group acquired Oyak Bank in Turkey

  Oyak Bank became part of ING Group in December 2007, creating the basis for the ING banking brand's Turkish operation.

  M&A
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• 2002Sümerbank merged into Oyak Bank

  The merger expanded Oyak Bank's domestic banking platform, which was described as having more than 300 branches around Turkey afterward.

  M&A
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• 1999ING DIRECT Australia launches as a direct bank

  ING began Australian direct-banking operations, becoming an early large-scale branchless banking entrant in the country.

  Other
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• 1996Oyak Bank adopted its name

  After OYAK became the bank's sole shareholder, the institution was renamed Oyak Bank.

  Other
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1. ING (Turkey)
2. 梅兰妮·埃文斯出任首席执行官