Oyakbank: Merger With Sumerbank Has Finalized

ISTANBUL, Jan 12 (A.A) - Oyakbank Executive Board Chairman Caner Oner said on Saturday that Oyakbank-Sumerbank merger was finalized on Friday.
Oner told a press conference that they had started to operate a single bank today.
The capitalization ratio of the bank was almost 60 percent, Oner said and added that it did not have any unpaid receivables.
Oyakbank General Director Mehmet Ozdeniz said that the total deposits of the bank were 2 quadrillion 570 billion Turkish liras (TL), its net profit was 167 trillion TL, its total assets were 3.1 quadrillian and its credits were 378 trillion TL as of the end of 2001.
Ozdeniz noted that the bank had 149 branches in Turkey and two branches abroad, one in Berlin and another in Bahrein.
The total number of Oyakbank branches would reach 187 in Turkey as 32 Etibank branches and 6 branches of Kentbank that Oyakbank had purchased started to operate, Ozdeniz stated.
Ozdeniz added that their first target was to rank among first five banks of Turkey.