History
US based First National Bank of Boston opened a branch in Istanbul, Turkey in 1984. The bank has operated independently since 1990 with three companies owning majority stakes: Alarko, Cerrahoğlu and Oyak.
The bank's name changed to Turkish Boston Bank A.Ş. again in 1991 and then OYAK purchased the other shares so became the only share holder of the bank. Finally the bank was again renamed to Oyak Bank 1994. In 2001 Sumerbank merged to Oyak Bank, and today Oyak Bank acts with over 300 branches all around Turkey. The bank has a participation in Ireland and another one in Germany.
Read more about this topic: Oyak Bank
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