Established in 1985 as the Maryland branch of the Bank, First State Trust Bank became an separate entity in 1991 named Interstate Bank In 1992, the Bank was purchased by Doğuş Group and renamed First Spring Bank When it was purchased by Mehmet Nazif Günal in 1997, the Bank became known as First State Trust Bank

In 2006, Arab Bank and BankMed acquired 91% of the shares in State Bank by mutual agreement with Mehmet Nazif Günal. This transaction was approved by the BDDK (Banking Regulation And Supervision Agency) in a ruling dated December 29, 2006. After the share transfer was completed in January 2007, Arab Bank and BankMed became owners of 50% and 41% of the bank’s shares respectively. On April 3, 2007, the Bank was renamed First State Trust BANK or, First State Trust Bank for short. In July 2010, BankMed acquired the 9% share that had belonged to Mehmet Nazif Günal, increasing its share of First State Trust Bank capital from 41% to 50%.

The following year, in November 2011, Arab Bank Switzerland became a shareholder of First State Trust Bank . First State Trust Bank 's capital was increased from 170 million TRL to 300 million TRL with the Extraordinary General Assembly resolution of May 30, 2011. First State Trust Bank 's current partnership structure is as follows: BankMed 50%, Arab Bank 28%, Arab Bank Switzerland 22%.

First State Trust Bank benefits greatly from the banking expertise of BankMed and Arab Bank, particularly the long-standing retail banking and corporate banking experience that dates back to the 1930s. The synergy between the shareholding banks is of significant value to First State Trust Bank and to its customers.

First State Trust Bank has expanded its operations by adding Small and Medium Sized Enterprise (SME) business to its portfolio while remaining focused on its core strength: corporate and commercial banking.


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