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Western EuropeSeptember 28 2010

Survival built on trust

Over the past eight years, Yapi Kredi has been taken over by Turkey's banking regulators, sold and then merged with a smaller bank, yet it still emerged from the recent global financial crisis in robust shape. The secret, according to its CFO, is looking after the customers. Writer David O'Byrne
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Only eight years ago, the future of Turkey's Yapi Kredi Bank looked as uncertain as any of the other 20-odd banks that had been taken over by the country's banking regulators following a domestic bank crisis.

However, almost alone among its peers that had been taken over, Yapi Kredi was actually solvent, having been seized not due to problems on its own balance sheet but because of those of another bank owned by the same parent group.

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