Banks in Turkey

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Banks in Turkey

To expand its investment activity, Turkey relies on a considerable number of state banks with international branches that contribute to the economic growth and the rise of the Turkish economy.

Banks in Turkey
21st May 2021
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Banks in Turkey are considered an investment tool in the country, which provides investment horizons for its citizens and foreigners alike, especially in light of the significant investment and commercial assets it has, as it comprises a large number of banks with local and international branches.

State banks in Turkey

Istanbul tops the list of investment cities in the country since it is an ancient city that represents the economic and financial capital of Turkey. The roots of the commercial movement in the city extend for nearly two hundred years.

Commercial transactions were taking place in the historical (Galata Tower) which is considered the beginning of the actual launch of the Turkish banking market.

Today, Turkey is distinguished by its possession of various types of banks, whether participating, state or private banks, characterized by their long economic history.

Each of these banks has its distinctive features and services, while some state banks, at the same time, include participating branches located in several cities.

The most prominent and various banks in Turkey are reviewed below.


Hulk Bank

Hulk, in Turkish, means the people, meaning the People's Bank. Hulk Bank is one of the oldest and most ancient banks in Turkey; it dates back to 1933; its establishment aimed to collect capital and attract professional project owners, to achieve a societal goal of establishing a robust economic system.

Despite the numerous obstacles this bank went through throughout its history, it later gained a position that enabled it to reach the seventh place in the country.

Waqf Bank

The state Waqf Bank was established in 1957; it is distinguished by its branches spread in many countries worldwide, such as Iraq, Bahrain, Austria, Germany, and the United States of America. Waqf Bank was able to record a net profit, during the second quarter of 2019, of 139 million dollars.

That has played a principal role in reviving the Turkish economy. Also, the bank has contributed to the development of banking technologies in the country by applying several modern banking systems.

Ziraat Bank

Ziraat Bank provides a wide range of banking services to its customers; concerning loans, deposits, and exchange. It employs more than 24,370 employees in its 1545 branches.

Ziraat Bank is distinguished by its inclusion of local financial companies, the most prominent of which are the Agricultural Insurance Company, the Agricultural Company for Participation, the Agricultural Company for Retirement, the Agricultural Company for Technology, and the Agricultural Company for Leasing.

Turkish private banks

On the other hand, Turkey comprises a private banking sector, as there are dozens of private banks distributed in many cities, and the most prominent private banks are:

Labor Bank "İş"

The Labor Bank was established in 1924. It ranks among the top 10 banks worldwide and has dozens of branches spread inside and outside Turkey.

Deniz Bank

Its establishment dates back to 1938. During its long career, Deniz Bank has become the principal supporter of the maritime transport sector in the Turkish state, and it has 750 internal branches and 43 foreign branches in some countries such as Germany, Austria, Russia, Cyprus, and Bahrain.

Yapi Kredi Bank

It is the first private bank in the Turkish Republic, with 1012 branches in Turkish cities, its personnel amounts to 18,000 employees, and the number of its clients exceeds 10.9 million.

Yapı Kredi Bank is the fourth largest private bank in Turkey, and it dates back to 1944, as it gains importance from the fact that it represents an integration between (Yapı Kredi) and (Coach Bank), which are famous for their economic strength in the country.

Ak Bank

Ak Bank was established in Adana in 1948; the number of its branches in Turkey is 1000 branches spread in several provinces, its ownership belongs to the Turkish Spinji family. The bank has been able to reach the list of the 500 best banks worldwide four times in a row.

Garanti bank

Garanti Bank offers many different services in the insurance field, through its branches in many Turkish cities, besides its branches in several European and Asian countries. It is worth noting that the bank was established in 1946 in Ankara, the capital.


Participating Banks in Turkey

Moving to the participation banking sector, i.e., Islamic banking, this sector is witnessing the control of five principal participating banks, namely, (Kuwait Turk), (Al-Baraka), (Turkey Finance), and two state banks (Waqf Katlem) and (Ziraat Katlem).

Al Baraka Bank

Al Baraka Bank is one of the most prominent participating banks in Turkey. Its roots go back to 1984 when it was established by the Al Baraka Banking Group in the Middle East and the Islamic Development Bank.

This bank, through its more than 200 branches in Turkey, has provided many projects, especially projects related to constructing residential and commercial buildings, in partnership with construction companies.

It provides its services in an Islamic system, using the principle of profit-sharing, not through the system of interest; besides, it is available to all local and foreign citizens. The bank gains its strength from its relations with about 1000 banks spread in more than 80 countries worldwide.

Kuwait Turk Bank

It is the second most prominent participating bank in Turkey; it was established in 1989.

Kuwait Turk Bank has achieved a net profit of $ 180 million over the past years. It provides a wide variety of services to its customers in a distinctive way that suits all segments of society.

Kuwait Turk Bank finances the owners of companies and institutions from the retail sector and small enterprises. Also, it keeps pace with development continuously through activating the role of its mobile phone application, websites, and call centers; so that customers can easily follow their accounts.

Kuwait Turk Bank has also included the Arabic language in its various branches, amounting to more than 340, distributed in many Turkish regions.

In light of this broad spectrum of private, state, and participating banks, the volume of the banking strength in Turkey becomes clear, besides the constant endeavor by its government to encourage investment in various fields.



- It is partnering with the most trusted and successful construction companies in the construction of buildings and residential complexes in Turkey.
- Take your hand to choose the right property.
- It assists its clients in the procedures for obtaining real estate residenceTurkish citizenship, and Turkish passport.
-Signing contracts and required papers and legally ratifying them.
- Our motto is seriousness and credibility in dealing to ensure our clients successful real estate investment in Turkey.


Edited by: Binaa Investment



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