In Turkey, the banking industry represents approximately 88.2% of the total financial sector as of September 2006. As of May 2013, the country's banking industry is comprised of 49 banks, 16 of which were foreign deposit, 11 private deposit, 5 private investment, 4 participation banks, 4 public investment, 4 foreign investment, 3 public deposit, and 2 were banks under TMSF supervision. As of September 2006, the total bank assets were 473.7 billion Turkish liras making up for approximately 86.3% of the gross national product. The four largest banks of the country are outlined below.
1. Ziraat Bankası
Ziraat Bankası bank was founded in 1863 and is owned by the state. The Ziraat Bankası is the largest bank in Turkey when ranked by total assets as of September 2015, accounting for 299,084 million Turkish liras with 1,789 branches countrywide. According to a published report by The Banker Magazine on the "Top 1000 World Banks in 2004", Ziraat Bankası was ranked as the 115th bank after moving up 26 spots from its previous position of 141.
2. Türkiye İş Bankası
Türkiye İş Bankası, simply known as İşbank, is the second largest bank in Turkey when ranked by total assets with 279,942 million Turkish liras. Founded in 1924, İşbank was the first public bank established by the Republic of Turkey. At present, the bank has a total of 1,355 branches. According to a survey carried out on the "World's Biggest 1,000 Banks " İşbank was ranked as the 96th while in the list for the Forbes Global 2000, it was position 447.In 2015, the bank had a Tier I Capital of $6.8 billion and a gross profit of 3.023 billion Turkish liras.
3. Garanti Bank
Founded in 1946, Garanti Bank is the third largest bank in Turkey by total assets with 260,700 Turkish lira and about 974 branches. As of March 31, 2013, Garanti Bank was Turkey's second largest private bank with consolidated assets amounting to US$104.1 billion. The bank also had a free float of 50.76% in shares publicly traded in Turkey, the US, and the UK as of March 31, 2013. Garanti Bank provides several types of services including investment, SME, retail, corporate, commercial, private banking, and payment systems. The bank also offers life insurance, asset management, leasing, pension, brokerage, and factoring services.
Akbank is among the largest banks in Turkey. Founded in 1948 in Adana, its purpose was initially to render financial services to the cotton producers in the region of Çukurova. The bank has 236,148 million Turkish lira in total assets and comprised of 901 branches. The Sabanci family is the bank's largest shareholders. According to the 2017 report, done by Brand Finance- Banking 500, Akbank has been ranked "The Most Valuable Banking Brand in Turkey" for the 6th time in a row. The bank also managed to achieve a significant amount of success by being ranked the 127th most valuable banking brand. In terms of loan volume, Akbank is also one of the largest banks in Turkey.
Overview Of The Banking Sector In TurkeyThe banking industry plays a significant role in the Turkish financial system and the country's overall economy. Banks in the country play a significant role in transactions and capital markets. Most state banks in Turkey were founded for the purposes of financing a particular industry such as agriculture. All banks in Turkey are subject to the Banks Act and to the provisions of other laws regarding the banks and are regulated by Turkish Banking Regulation and Supervision Agency.
The Largest Banks In Turkey
|Rank||Bank||Foundation||Number Of Branches (As of Sept. 30, 2015)||Total assets (million TL) (As of September 2015)|
|2||Türkiye İş Bankası||1924||1,355||279,942|
|5||Yapı ve Kredi Bankası||1944||997||232,248|
|9||Türk Ekonomi Bankası||1927||528||73,666|
|17||Türkiye Sınai Kalkınma Bankası||1950||3||20,853|
Your MLA Citation
Your APA Citation
Your Chicago Citation
Your Harvard CitationRemember to italicize the title of this article in your Harvard citation.