ANKARA - The merger of Pamukbank and Halkbank has been successfully completed. Public Banks Joint Management Council Chairman Zeki Sayin has stated that as of today Pamukbank and Halkbank have been merged.
Sayin and Halkbank General Manager Hasan Cebeci have removed a cloth banner that read ''Pamukbank'' at the Pamukbank Ankara Regional Office. ''The legal framework for the merger has been completed. All of the Pamukbank branches are now called 'Halkbank','' said Cebeci.
Sayin said 200 Pamukbank branches will start functioning as Halkbank branches as of today. ''Halkbank will continue to serve small and middle-sized businesses. Halkbank has become the fourth biggest active bank in Turkey with the merger. With the addition of the Pamukbank staff members, Halkbank will be closer to businessmen than before,'' told Sayin.
''The idea of a possible merger came up exactly one year ago. 142 branches very close to each other will be closed. The total number of our branches will be 571, compared to current 713,'' stated General Manager Cebeci. ''Halkbank's employee number will jump to 11,100 from the present 7,400. As far as deposits are concerned, we have become the third largest bank in Turkey,'' expressed Cebeci.
Answering a question on trademark rights, Zeki Sayin said that rights over the name of Pamukbank has transferred to Halkbank. ''For now, we are holding this name. We may re-consider the status quo in the future.''
While there has not been any cost to Halkbank for its merger, Pamukbank has cost 2.3 quadrillion Turkish Liras to the treasury. ''The resource deficit was closed and brought to zero, upon which Pamukbank was transferred to Halkbank,'' said Cebeci.
Sayin remarked that both Halkbank and Ziraat Bank are available for privatization by 2007.
(ES-AÖ)