Türk Ekonomi Bankası ^None

TEB, also known as Turkish Economy Bank, is a private sector commercial bank in Turkey that was founded in 1927 as Kocaeli Bankasi. It was later renamed Türk Ekonomi Bankası in 1982 after being purchased by a group. The bank is known for its successful management and cautiousness in commercial and private banking. In 2005, TEB signed a joint venture agreement with BNP Paribas SA and has since been expanding its retail network in Turkey. As of 2Q 2007, it has over 240 branches. TEB operates in six business segments: corporate, commercial, retail and private banking, treasury and capital markets. The bank has two subsidiaries outside Turkey, TEB NV in the Netherlands and TEB in Kosovo. The CEO of the bank is Varol Civil.