 Established as a regional bank by private investors under the name "Adapazarı İslam Ticaret Bankası" in 1913, Türkbank became the first private bank of Turkey.Following the Turkish financial crisis, which blew up in January 1994, and the devaluation of the Turkish currency at hundred percent, the bank weakened, which operated 274 branches and employed 4,532 staff nationwide at that time.The bank was taken under control by the Treasury in May of the same year.