OYAK
TypePension fund
BIST: OYYAT
Founded1 March 1961[1]
HeadquartersAnkara, Turkey
ProductsFinancial services
Revenue$9.8 bn[2]
Number of employees
29,000[3]
ParentMinistry of National
Defense[4]
Websitewww.oyak.com.tr
Footnotes / references
Total Assets = $19.3 bn[2]

Ordu Yardımlaşma Kurumu (OYAK) (lit. Army Solidarity Institution), is a Turkish charity and complementary pension fund with around 460,000 members.

OYAK provides members with "supplementary retirement benefits" apart from the official retirement fund, T.C.Emekli Sandığı/SSK, to which they are primarily affiliated. In addition to retirement benefits, OYAK pays disability benefits to members when they become partially or fully disabled, and provides death benefits to the deceased's heirs.

OYAK is the Turkish Army pension fund.[5] OYAK is a private entity that is subject to Turkish civic and commercial law. OYAK, also offers services such as consumer loans, housing loans, pension system, stock market investment support to its members.[6]

The OYAK Holding Investment Subsidiary Group is one of the largest industrial groups in Turkey.[7] The group was the former owner of ING Oyak Bank (sold to ING Bank in 2007) and the Oypa supermarket chain. In 2012, it was rated BB+/stable by Standard & Poor's.[8] The group co-owns car manufacturer Oyak-Renault and steel producer Erdemir. OYAK Group of Companies added Sagra to its structure in April 2021.[9] OYAK is on the global coal exit list published by Urgewald because it owns İsken Sugözü power station.[10]

Structure

OYAK Group companies

In the industrial sector, the OYAK Group 's companies include iron and steel, chemistry, cement manufacturing, electricity and automotive.

Affiliated companies

Affiliated companies and investments include:

  • OYAK Construction (Oyak Insaat), founded 1982, in Turkey[11]
  • OYAK Yatirim Ortakligi AS (investment company, part-floated on the Istanbul Stock Exchange as OYAYO.IS)[12]
  • Oyak-Renault (49%)[13]
  • OYAK Securities (Oyak Yatirim), founded 1982[14]
  • Erdemir (steel), acquired in 2005
  • Opet (Oyak Petrolleri), founded 1992

References

  1. ↑ OYAK Yatirim, About Oyak Group
  2. 1 2 OYAK, 16 Aug 2019, OYAK in Numbers
  3. ↑ OYAK, OYAK Group Subsidiaries
  4. ↑ Terkoğlu, Barış (21 June 2021). "Üzgünüm ama Sedat Peker haklı çıktı". Cumhuriyet (in Turkish). Retrieved 19 September 2021.
  5. ↑ "Turkey's Army Pension Fund to Sell Two Stakes to Taiwan Cement". Bloomberg.com. 28 November 2023. Retrieved 31 December 2023.
  6. ↑ Gazete, Banka (21 November 2021). "Oyak Yatırım hisse önerileri". Gazete Banka. p. https://gazetebanka.com/. Retrieved 21 November 2021.
  7. ↑ Euromoney, Oyak: Army advances on the investment front
  8. ↑ Standard & Poor's, 4 December 2012, Summary: OYAK (Ordu Yardimlasma Kurumu)
  9. ↑ Gazete, Banka (23 November 2021). "Sagra OYAK ile pazar payını ikiye, ihracatını beşe katlayacak". Gazete Banka. p. https://gazetebanka.com/. Retrieved 23 November 2021.
  10. ↑ "Global Coal Exit List". www.coalexit.org. Retrieved 6 October 2022.
  11. ↑ securities.com, Oyak Insaat A S
  12. ↑ reuters.com, OYAK Yatirim Ortakligi AS (OYAYO.IS)
  13. ↑ "Oyak Renault Hakkında – Oyak Renault Otomobil Fabrikaları". 23 January 2019.
  14. ↑ Oyak Yatirim, About Oyak Securities
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.