As of Thursday, Export and Credit Bank - IK Banka has been re-branded into Halkbank AD Skopje.

According to the bank management, the new brand does not mean only a name change, but quality, strength and responsibility. Halkbank's goal is to become a strong bank in the region, whereas Macedonia represents the first step.

"We are proud to bear the name Halkbank. This is not only a change of the bank's name, but beginning of a new era in the Macedonian banking system. We will introduce the most contemporary systems, products and financial solutions, which are beneficial for Macedonian companies and citizens, as well as foreign companies operating here. Halkbank will introduce fresh dynamics in Macedonian banking", said Halkbank AD Skopje Chief Executive, Yucel Inan at Thursday's press conference.

According to him, the bank's decision to enter the Macedonian market in 2008 through IK Banka has proved wise, since the country is stable and has bright future with regards to its economic development.

Inan said their advantage over the competition is the simple strategy of attracting clients, low interest rates and better services.

"Since its establishment, Halkbank has been a pioneer and leading bank for SMEs in Turkey. We have always supported productive people in Turkey, regardless of the economic circumstances, throughout our 70-year-long history. We are the largest supporter of the real economy. Now we aim towards becoming a strong regional bank by using our knowledge and experience", stressed the Halkbank Chief Executive.

He added that Macedonia is their first destination in achieving this goal.

"We will be the biggest supporters of productive people in Macedonia too. Halkbank, which is the 6th bank in the world according to indicator profit/capital, will try to create maximum added value for its employees, clients, and business partners in Macedonia through its financial power, international reputation and modern banking approach", underlined Inan.

Founded in 1938, Halkbank is one of the largest banks in the Turkish banking market. As of the end of 2010, Halkbank had over EUR 35 billion of assets and EUR 3,5 billion of equity. Return on equity was over 30 percent in 2010 with net profit of EUR 1 billion. It has over 700 branches in Turkey and abroad, with over 13,000 employees.