FCI welcomes a new associate member in Turkey: Fibabanka A.Ş.Friday 10 May 2019
Fibabanka is a Turkish private commercial bank that is specialized in corporate, commercial, SME and enterprise, agriculture, retail and private banking. The Bank provides banking products and services with a young and dynamic workforce through a network of 72 branches in Turkey.
Fibabanka has been operating under Fiba Group since 27 December 2010. The Bank has a strong shareholding structure, principally under the ownership of Fiba Holding, which holds 71.57% of the common shares of the Bank. The other shareholders are International Finance Corporation ("IFC") and The European Bank for Reconstruction and Development ("EBRD"), each holding 8.96% of the common shares of the Bank, and the Abraaj Group ("Abraaj"), with a 9.95 % stake in the Bank. Fiba Holding is part of the Fiba Group, one of Turkey's largest private sector conglomerates which was founded in 1987 by Mr. Hüsnü Özyeğin, a pioneer Turkish banker and prominent businessman. Fiba Group is present in 12 countries, operating through 66 companies mainly in the financial services, retail, energy and real estate industries.
Under the current conjuncture and changing foreign trade conditions, international factoring has started to be much more important for the financial institutions in Turkey to provide solutions to their exporter and importer customers.
Fibabanka's target is to become one of the first banks providing factoring services to foreign trade companies while increasing its market share of foreign trade volume in Turkey, gaining new customers and introducing factoring products as a solution for international collection, guarantee and financing needs.