Hayat Finans became Turkey’s first digital bank…
With a decision published in the Official Gazette on March 25, 2023, the Turkish banking and finance sector The first branchless digital bank “Hayat Finans” it happened. The institution, which received the operating license from the Banking Regulation and Supervision Agency (BDDK) and became the first digital bank of Turkey, will start its activities under the name Hayat Finans Katılım Bankası A.Ş. Hayat Finans Katılım Bankası A.Ş., which was established with an initial capital of 1.5 billion liras and will serve only in digital channels, became Hayat Kimya A.Ş and Kastamonu Entegre A.Ş with 50-50 percent of the shares.
Hayat Kimya A.Ş., the world’s 4th largest branded diaper manufacturer and the largest tissue manufacturer in the Middle East, Eastern Europe and Africa. It reaches millions of consumers all over the world with its 16 strong brands such as Bingo, Molfix, Molped, Papia, Familia and Evony. Kastamonu Entegre A.Ş., the other partner of Hayat Finans, is Turkey’s leader, Europe’s 3rd and the world’s 4th largest producer in wood-based panel production with its MDF and Particle Board production.
General Manager of Hayat Finans Katılım Bankası made a statement on the subject. M. Murat Ertem;
“We are very proud to be the first established digital bank in Turkey. The fact that Hayat Holding took the first step in digital banking in our country is an indicator of its visionary stance towards the future. We will provide all financial services to our customers with a mobile application in an inexpensive, fast, reliable and simple way. Our collaborations and technology platforms The bank that makes life live uninterruptedly with the digital ecosystem We will realize our vision of being
Hayat Holding made the first application within the scope of the ‘Regulation on Digital Banks’ prepared by the BRSA and entered into force on January 1, 2022. Then the application was approved on April 21, 2022. With this decision, the Board also authorized the start of a bank authorized to collect funds from the public, for the first time in 23 years, for local and private capital.
