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A Banking Adventure in the Republican Period: Denizbank (1937-1939)
In the Republican Period, Denizbank was founded in accordance with the new state's founding philosophy in order to ensure economic development. This bank, in addition to all kinds of maritime activities, was authorized for such operations related with marine transportation as dock, port, loading, unloading, salvage, and establishing inter-city bus and truck transportation by the way of piers. The objectives and prospects of the bank were huge, so were its powers. However, after misusing its duties and powers in course of the purchase of Satiye Building, Case of Impex, the bid of 11 ships to Swan Hunter and ships ordered from Germany, the bank was exposed to investigations and criticisms about alleged involvement in corruption. As a result, several bank officers were arrested and the bank lost credibility in the public. For these reasons, Denizbank was closed down after about one and a half year of operations, and its duties and powers were handed over to two newly established headquarters State Maritime and State Port.

Denizbank, Satiye Building, Impeks, Swan Hunter, corruption.

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