OYAK
 | |
| Company type | Pension fund |
|---|---|
| BIST: OYYAT | |
| Founded | 1 March 1961[1] |
| Headquarters | Ankara, Turkey |
| Products | Financial services |
| Revenue | US$16.35 billion (2023) |
| Total assets | US$30.25 billion (2023) |
Number of employees | 38,796[2] |
| Parent | Turkish Ministry of National Defense[3] |
| Website | www.oyak.com.tr [4] |
Ordu Yardımlaşma Kurumu (OYAK) (English: Military Solidarity Institution), is a Turkish charity and military pension fund with around 470,000 members.[5] The OYAK Holding Investment Subsidiary Group is one of the largest industrial groups in Turkey.[6]
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.[7] The group co-owns car manufacturer Oyak-Renault and steel producer Erdemir. OYAK Group of Companies added Sagra to its structure in April 2021.[8] OYAK is on the global coal exit list published by Urgewald because it owns İsken Sugözü power station.[9]
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.[10]
OYAK provides members with supplementary retirement benefits apart from the official retirement fund, Emekli Sandığı and 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.[citation needed]
Structure
[edit | edit source]OYAK Group companies
[edit | edit source]In the industrial sector, the OYAK Group companies include iron and steel, chemistry, cement manufacturing, electricity and automotive.
- OYAK Mining Metallurgy Group
- OYAK Cement Concrete Paper Group
- OYAK Automotive Logistics Group
- OYAK Finance Group
- OYAK Construction Group
- OYAK Chemical Agriculture Group
- OYAK Energy Group
- OYAK Food Group
Affiliated companies
[edit | edit source]Affiliated companies and investments include:
- OYAK Construction (Turkish: OYAK İnşaat), founded 1982, in Turkey[11]
- OYAK Yatırım Ortaklığı AŞ: Investment company, part-floated on the Istanbul Stock Exchange as OYAYO.IS[12]
- Oyak-Renault (49% share)[13]
- OYAK Securities (Turkish: OYAK Yatırım), founded 1982[14]
- Erdemir, acquired in 2005[citation needed]
References
[edit | edit source]- ^ OYAK Yatirim, About Oyak Group
- ^ OYAK, OYAK Group Subsidiaries Archived 23 August 2013 at the Wayback Machine
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ OYAK, 16 Aug 2019o, OYAK in Numbers
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Euromoney, Oyak: Army advances on the investment front
- ^ Standard & Poor's, 4 December 2012, Summary: OYAK (Ordu Yardimlasma Kurumu)
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
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- ^ securities.com, Oyak Insaat A S[dead link]
- ^ reuters.com, OYAK Yatirim Ortakligi AS (OYAYO.IS)
- ^ Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- ^ Oyak Yatirim, About Oyak Securities
External links
[edit | edit source]- OYAK (Official Website)
- Military-Economic Structure in Turkey: Present Situation, Problems, and Solutions Archived 16 July 2012 at the Wayback Machine, İsmet Akça, TESEV, July 2010. Lua error in Module:Citation/CS1/Configuration at line 2172: attempt to index field '?' (a nil value).
- The Turkish Aid and Institution Law, passed in 1961
Companies Traded on Borsa Istanbul
[edit | edit source]- OYYAT - OYAK Yatırım Menkul Değerler A.Ş.
- ISDMR - İskenderun Demir ve Çelik A.Ş.
- OYAKC - OYAK Çimento Fabrikaları A.Ş.
- HEKTS - Hektaş Ticaret T.A.Ş.
- OYAYO - OYAK Yatırım Ortaklığı A.Ş
- OYYAT - OYAK Yatırım Menkul Değerler A.Ş.
- OYAK ANKER Bank
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