Ottoman Bank

The Head Office of the Ottoman Bank in Karaköy

Inaugurated on the 27th March 1892 and housing recently in its ground floor the branches of the Garanti Bank, the head office possesses, in accordance with the norms of bank and stock exchange buildings of Europe and United States at that time, an architectural structure, which permits to follow the banking operations in progress in the floor down from the upper corridors. The Ottoman Bank Archives and Research Centre, within its archives, library, exhibition and lecture halls, makes the visitors experience the present recalling the traces of the past. The building, whose plans were elaborated by the Architect Alexandre Vallauri at the end of the XIXth century, draws the attention particularly by its back and front façades, built according to different architectural styles.

The head office was the symbolical expression of the policy of the Imperial Ottoman Bank, founded in 1863, restructured and incorporated in the financial markets in the 1880s. The building, located at the Banks Street in Galata, has served as the head office of the Ottoman Bank until the beginning of 1999.

A view of the Imperial Ottoman Bank from the Golden Horn in the postcards of the period.

Approval of the New Building

The site, conceived for twin buildings functionning with the Turkish Tobacco Monopoly, was bought in 1889 by the last-mentioned company. Two months later, the General Directorate of the Imperial Ottoman Bank, obtaining its share in the site, decided the construction of a new building, intended for its own use, and which would serve as head office. The General Manager of the Bank, Sir Edgar Vincent, writing on 7th February 1890 a letter to Thédore Berger, member of Paris Committee, suggested him to buy the half of the site for the construction of a new branch. On 13th February 1890, the approval of the Paris and London Committees was received.

Traces of East and West within "the Imperial Ottoman Bank"

The building, constructed by the Architect Alexandre Vallauri, was composed, in the basement by vaults, stock rooms and stables; In the level under the ground floor, by the Mecidiye safe-room, so called because of coins of 20 piasters worth, which they contain at that time and by dining-hall; on the ground floor by the space reserved to the branch; on the first floor, apart from the private and professional offices of the General Manager, by the offices of his secretary and that of the translators; on the second floor, by the accounting department with the offices of the chief accountant, the state commissioner and the inspectors; in the attic, by the victuals department, archives and housekeepers' rooms.

The most interesting characteristic of the building is the difference of architectural style remarkable in its back and front façades. The neo-classical and neo-renaissance features of the front façade, looking out onto the Banks Street, reflect the glory and the dignity of European banks at the time. The back façade, looking out onto the old Istanbul beyond the Golden Horn, is notable for its nearly orientalist characteristics. This difference among the two façades seems to symbolize in fact the status of the Bank between East and West. A similitude is remarkable in the inscriptions located face to face at the entrance of the Bank. The one in Latin emphasizes the importance of the friendship while the other in Arabic exalts the fortune.

Fortune’s hand shall be unable to touch whatis offered to friends: It is the riches that you have distributed that shall stay with you forever.
Martial, Epigrammes, V, 42. He who earns money is God’s beloved 
                        servant.
Fortune’s hand shall be unable to touch what
is offered to friends: It is the riches that
you have distributed that shall stay with you forever.
Martial, Epigrammes, V, 42.
He who earns money is God’s beloved servant.

The "Imperial Ottoman Bank" Survives

The building, leaving behind a past of hundred years, has been housing the Ottoman Bank Archives and Research Centre since 2000. This enterprise, which seems to take a step for the creation of a new identity at the Beyoglu and Galata quarters and the constitution of a centre, where culture and history coexist. The building also houses the Ottoman Bank Museum.

Sayfa Başı

Sources

Edhem Eldem; A 135-Year-Old Treasure. Glimpses from the past in the Ottoman Bank Archives, Istanbul, 1998.
Nese Yildiran; "Dis Borçlanmada 33 Yillik Birliktelik ve Dogu-Bati Ekseninde Bir Ikiz Bina: Tütün Rejisi ve Bank-i Osmani-i Sahane" derl. Zeynep Rona, Osman Hamdi Bey ve Dönemi, Istanbul, Tarih Vakfi Yurt Yayinlari, 1993