With the political problems before or after the economic crisis of 2001 Too many banks went bankrupt. Many of them also had a tabloidthimension (political magazine).

How does a bank go bankrupt, where the house always wins? Sometimes due to errors, sometimes for reasons outside their power, and sometimes completely through environmental factors … now is one of the bankrupt banks to the story of the three most discussed Let’s watch together.

Imar Bank

The establishment of Imar Bank, known for its high interest rates and large number of customers, was very normal.

High exchange rates and TL interest rates offers. When I say high, I mean really high. So much so that it is higher than the rate given by other banks. It yields 3 times more interest income! It is of course also preferred.

The sentence, probably distributed by Cem Uzan himself, is confusing.

It is not known exactly who spread it, but there are allegations. “All major banks will go bankrupt!” His word makes eyebrows frown. Imar Bank customers are rushing to withdraw their money from their accounts before the due date, less than 1 year ago. With the convenience of saving principal, they don’t mind not being able to earn interest.

Imar Bank, which emerged with the 2001 economic crisis, is also going bankrupt due to the resulting problems. The Banking Act will be reorganized after the crisis. The measures requested in accordance with Article 14, third paragraph, of this law have not been taken in whole or in part because obligations are not fulfilled on time

While the lawsuits and depositions continue It officially went bankrupt by court ruling in 2007. He leaves behind customers called ‘imarzade’, who could not get their money, and 9 billion TL in damages for the state. No information was given on the exact number of Imarzades. However, payments to beneficiaries in certain ‘phases’ are announced via SDIF.

Pamuk bank

It was founded to provide money to cotton producers.

After its founding in 1955, it continued to serve its purpose for a while. Later verhuist het in 1973 naar Çukurova Holding. This is the first step that pushes him to the ‘end’.

It became one of the five largest private banks in Turkey in the 1990s. Also in 1998 Signs an agreement with the American consultancy firm McKinsey and focuses on self -improvement. It is undergoing modernization in almost every aspect, from the change in management organization to the training provided to the employees. So it will be the most popular bank.

Pamukbank first in 1998 It is kept under control because of its operation. As a result of the audit, the expected poor result came to an end and in 2002 BRSA filed a lawsuit against Çukurova Holding over the loans it had granted to Çukurova Holding. He transfers Pamukbank to SDIF.

The reason for the SDIF transfer is ‘disruption of harmony between assets and liabilities, lack of equity and liquidity’ and the main reason is is displayed as . Met andere woorden: Pamukbank verstrekt leningen aan haar eigen aandeelhouder, Çukurova Holding, maar ontvangt geen terugbetaling.

. SDIF started the sale process in 2004, that is, two years later, transferring Pamukbank to Halkbank with all its rights and partnerships, except dividends.

The concerns of Pamukbank customers cause some confusion. Because Halkbank provides old age pensions to all employees of Pamukbank who reach retirement age. Customers find it messy and

Especially the fact that the transfer process to Halkbank lasts long, reinforces the rumors. But there is no problem. The problem is solved and customers are now being transferred to Halkbank.

Demirbank

Demirbank werd in 1953 opgericht onder leiding van de familie Cıngıllıoğlu. Even It never changes owner until it is transferred to SDIF.

The 23 branches reached in the sixties and was seized in 2000. Turkey’s fifth largest bank It is located in.

During a crisis, the bank is the first to seize.

On the way to the 2001 crisis, as a result of the national debt in 1999 Turkiye and the IMF agree. The market focuses on the money that comes in the country and takes wrong steps. One of the wrong steps is to lower interest rates.

Demirbank benefits from the falling interest rates and starts to collect banknotes and bonds with low interest rates. But It takes more risks than other banks and invests a high percentage of his money in these banks.

Would this not cause a problem? Of course he does, liquidity problem (Liquidity is the conversion of a financial asset into cash. In other words, if customers want to withdraw money because they don’t have cash, they won’t be able to find it.)

Although it is thought that interest rates have fallen, sudden government decisions change the situation.

With the coalition government of that period Things are getting more complicated in the market due to a problem with the IMF.. This situation ensures that interest rates rise again, albeit slowly. Demirbank, die tot dan toe haar liquiditeitsprobleem had opgelost door geld te lenen van andere banken, zat letterlijk vast.

In addition to the liquidity problem, they could not borrow from other banks as a result of political events. After a while, Demirbank uses all its capital. In this case, SDIF takes over the bank and buys Demirbank. In 2001 he sold Demirbank to HSBC. That is why her customers and employees are now HSBC members.

In other words: banks that grew quickly and were among the best are no longer available due to the crisis or are sold to another bank. In similar periods, Egoank, Yurtbank, Yaşarbank, Bank Kapital and National Bank were merged with Sümerbank. Interbank and Esbank were merged with Etibank. Sitebank was also sold to Novabank. Only during the 2001 crisis 25 banks went bankrupt.

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