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Turkish Economic Bank Türk Ekonomi Bankası (TEB), is a privately owned joint-stock company, established in the city of Izmit in 1927, under the name Kocaeli Halk Bankası TAŞ, and thus it is considered one of the oldest financial institutions in Turkey, and in 2005 the bank entered into a partnership Strategy with the French BNP Paribas Group, and its name has been changed. The bank provides its customers with a number of corporate banking products and services, treasury services, and insurance, through its local branch network.