Odeabank has reached 10th place among private banks in Turkey in 2014​

Odeabank, raising its total assets to 25.6 billion TL, reached 10th place among private banks in size of assets at the end of 2014

Odeabank, raising its total assets to 25.6 billion, total credits to 18 billion and total deposits to 21 billion TL by the end of last year, ranked 8th in size of deposits and 10th in size of assets among private banks.

Odeabank, established in Turkey in 2012, has been the most recent and successful investment of its Lebanese investor Bank Audi Group. Just after 2 fiscal years Odeabank has reached first place in the group in terms of credits and second in terms of assets.

Odeabank General Manager Hüseyin Özkaya, reviewing the 2014 results, said: “This is a result of our success in Turkey. Odeabank, established in 2012, has breathed new life into the sector with its dynamism and innovative approach. The results Odeabank have achieved at the end of 2014 despite the constraints in the first half of 2014 brought Odeabank to 8th place in size of deposits and 10th place in size of assets within private banks in a banking sector it had entered initially in 49th place.

He added: “Odeabank, active in all segments of banking, has achieved these results thanks to its powerful shareholders having confidence in their investment, its experienced and highly-motivated employees, the state of the art technology used in its infrastructure, substantial branding activities and the importance it gives to efficiency.”

Özkaya, stated that Odeabank's confidence in the Turkish economy and its ability to evaluate the strong dynamics in the Turkish economy as well as the global economic climate are the factors behind Odeabank's success, adding that despite 2014 being quite a tough year they have been supporting their customers in all of their financial needs and continuing their investments. Özkaya said that they have closed 2014 with 48 branches and 1388 employees in 14 cities, continuing their investments at full speed. He said that Odeabank, having added internet banking, mobile banking, self-service banking, ATMs, call center and social media as alternative distribution channels to its branches, is the bank that makes the most efficient use of technology in Turkey.

Largest bank in deposits per branch

Odeabank, leaving a successful fiscal year behind, reached a substantial size of cash credits in 2014 with the foreign trade transactions and the financing it provided, accommodating the financial needs of customers in a wide array of sectors ranging from energy to real estate development, iron and steel, communication and construction in Corporate and Commercial Banking segments.

Özkaya, stated that they are one of the largest banks in Turkey in terms of deposits per branch, adding that they signed agreements to provide “Consumer Financing” to the customers of Turkey's most prominent retail chain stores. He said that all these campaigns have resulted in a ten fold increase in their loan customers in 2014.

Odeabank difference in mobile banking

Özkaya, also stated that in Direct Banking, they have implemented a system enabling the bank to provide the same customer experience in all channels. 25 thousand people have downloaded Odeabank’s mobile banking application, launched in 2015 in its first month, reaching a transaction volume of 4 million TL. Özkaya said that Odeabank has introduced a whole new level of banking, beginning to accept checks through the ATMs, which is a first in Turkey. He added: “Through all of these activities we have reached 500 thousand customers by the end of 2014.”

“Personalized Banking”

Özkaya said that Odeabank took a new step to bring the 'personalized banking' approach to all of Turkey through their collaboration with PTT. “With this collaboration we are multiplying our number of branches and employees, which are currently 48 and 1,388 respectively. Now the PTT offices all around Turkey are working as Odeabank branches.”

In the meeting where Direct Banking, Transaction Banking and Business Solutions Assistant General Manager Tayfun Küçük, Commercial Banking Assistant General Manager Erol Sakallıoğlu, Retail Banking Assistant General Manager Cem Muratoğlu and Corporate Banking Assistant General Manager Yalçın Avcı were also present, Özkaya stated that he believes there is no other bank in the world which has achieved such profitability in such a short time after being established from the ground up and that Odeabank will achieve many more successes in 2015.​​