Turkey’s Aktif Bank Names Akbank’s Tozge CEO as Halisdemir Exits

Aktif Yatirim Bankasi AS, the Turkish investment bank owned by Calik Holding AS, said it appointed Galip Tozge as chief executive officer.

Tozge was formerly head of retail banking at Turkey’s second-largest publicly traded bank, Akbank TAS. He replaces Onder Halisdemir, who stepped down both as CEO and board member on Jan. 6, Aktif said in a separate filing.

Aktif, which calls itself Turkey’s largest privately owned investment bank, has increased its assets by almost 80 times since it was founded in 2007. It has advanced to 24th place from 41st in terms of asset size among the country’s lenders, according to the bank’s website.

While the company doesn’t have a retail bank license, it last year year won a contract to distribute so-called Passolig cards, a credit and identity card that has become compulsory for attending any football match in the Middle Eastern country.

When Passolig was implemented, Deputy CEO Murat Emre Duman said that Aktif was seeking to issue 1.5 million of the cards in the first year and expand their use into transportation and entertainment. The card attracted protests from both fans and consumer rights groups at the time.

Aktif’s annual report showed total assets of 5.1 billion liras ($2.2 billion) at the end of 2013.

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