Pamukbank | |
Type: | Bank |
Foundation: | 22 April 1955 |
Defunct: | 17 November 2004 |
Location: | Istanbul, Turkey |
Industry: | Banking |
Products: | Financial services |
Pamukbank T.A.Ş. is a defunct Turkish bank. Founded in 1955 as a privately owned deposit bank, it was taken over by the government's TMSF in 2002, because of a $2.5bn capital shortfall, and merged into Halkbank in November 2004.[1] At the time Pamukbank had 172 branches and 4000 employees.[2]
Pamukbank was formerly owned by Çukurova Holding, and in 2013, Çukurova chairman Mehmet Emin Karamehmet was sentenced to seven years in prison for misuse of loans from Pamukbank.[3]