DenizBank From a single bank to a large financial services group DenizBank was founded in 1938 as a state-owned bank in order to provide funding for the developing Turkish maritime sector. Acquired by Zorlu Holding from the Privatization Administration as a banking license in early 1997, DenizBank was further acquired in October 2006 by Dexia, a leading financial group in Europe. Continuing its activities under Dexia umbrella for 6 years, DenizBank operates as from 28 September 2012 under the roof of Sberbank, the biggest bank in Russia. As of July 1st, 2013; consumer banking portfolio of Citi Turkey with more than 600 thousand customers and nearly 1400 employees were transferred to DenizBank. Following privatization in 1997, parallel to its new corporate identity, the Bank implemented a “return to life” program that encompassed recruitments and new branch openings. These initiatives were undertaken in line with a five-year strategic plan; subsequently, all objectives in the plan were accomplished. This growth was supported by the acquisition of some of the branches that were transferred to the Savings Deposit Insurance Fund and the acquisition of Tarişbank by the Group at the end of 2002. In order to complement its existing banking products and services, DenizBank also acquired factoring, leasing, investment and asset management companies as well as banks in Austria and Russia. Thanks to the support of its solid capital base and financial strength as well as the rapid growth of the overall banking sector, DenizBank reinforced its existing market position in a very short time. DenizBank Financial Services Group was formed in 2003 to create a financial supermarket able to offer various financial services under the same roof.