All About Turkey

Banks in Turkey

The banking sector forms a great part of the Turkish financial system in its dynamic economy. Most of the transactions and activities of money and capital markets are carried out by banks. Most State banks were established to finance a particular industry such as agriculture for example (Ziraat Bank), but private banks generally have close connections to large industrial groups and holdings.

First banking activities started in early 1800s with the so-called money-changers and the Galata bankers. During this period, all quasi-banking activities were carried out by money-changers, and The Galata bankers consisted mostly of the ethnic-minorities in Istanbul. With the deterioration of the Ottoman Empires' financial situation after the Crimean war, the Empire needed external financial support. It was during this period when representatives of several foreign banks came to Istanbul with the purpose of extending credits to the Empire at high interest rates. The Ottoman Bank (Osmanli Bankasi) was established in 1856 with its head office in London and served as the Central Bank until the 1930's.

The Central Bank, founded in the early 1930s, has the usual central bank responsibilities, such as issuing banknotes, protecting the currency, and regulating the banking system and credit. The Central Bank also finances the government's budget deficits and makes loans to public and private banks. But after 1983 the Central Bank began to reduce lending and stepped up its supervisory functions.

Before 1980 there were only 4 foreign banks in Turkey, but their number grew rapidly during the 1980s as the Turgut Ozal government liberalized conditions and today there are almost 50 of them. During these years a series of reforms were adopted to promote financial market development; interest and foreign exchange rates were liberalized, new entrants to the banking system were permitted and foreign banks were encouraged to operate in Turkey.

All banks in Turkey are subject to the Banks Act and to the provisions of other laws regarding to banks. The new Law brought the Banking Regulation and Supervision Agency (BRSA, or Turkish BDDK) into life to safeguard the rights and benefits of depositors. The Banks Association of Turkey (BAT, or Turkish TBB) is the representative body of the banking sector in Turkey established for protecting and promoting the professional interests of its members.

As of August 2013, there are a total of 45 banks operating with 10,596 branches in Turkey and 79 branches abroad.

Name Phone Fax Web Address
All Banks (#45)
   Commercial Banks (#32)
      Banks Under the Deposit Insurance Fund (#1)
Birlesik Fon Bankasi A.S. 212-340 10 00 212-288 31 61 www.fonbank.com.tr 
      Foreign Banks (#17)
         Foreign Banks Founded in Turkey (#11)
Arap Turk Bankasi A.S. 212-225 05 00 212-225 05 26 www.arabturkbank.com 
Citibank A.S. 216-524 50 00 216-524 50 50 www.citibank.com.tr 
Denizbank A.S. 212-355 08 00 212-274 79 93 www.denizbank.com 
Deutsche Bank A.S. 212-317 01 00 212-317 01 05 www.db.com 
Eurobank Tekfen A.S. 212-357 07 07 212-357 08 08 www.eurobanktekfen.com 
Fiba Bank A.S. 212-381 82 00 212-258 37 78 www.fibabanka.com.tr 
Finans Bank A.S. 212-318 50 00 212-318 55 78 www.finansbank.com.tr 
HSBC Bank A.S. 212-366 30 00 212-366 33 83 www.hsbc.com.tr 
ING Bank A.S. 212-335 10 00 212-286 61 00 www.ingbank.com.tr 
Odea Bank A.S. 212-304 84 44 212-304 84 45 www.odeabank.com.tr 
Turkland Bank A.S. 212-368 34 34 212-368 35 35 www.tbank.com.tr 
         Foreign Banks Having Branches in Turkey (#6)
Bank Mellat 212-296 31 20 212-296 45 85 www.mellatbank.com 
Habib Bank Limited 212-246 02 20 212-234 08 07 www.habibbank.com.tr 
JPMorgan Chase Bank N.A. 212-326 83 00 212-326 83 84 www.jpmorganchase.com 
Portigon AG 212-339 25 00 212-352 22 58 www.westlb.com.tr 
Societe Generale (SA) 212-319 34 00 212-282 18 44 www.sgcib.com 
The Royal Bank of Scotland N.V. 212-359 40 40 212-359 50 50 www.rbsbank.com.tr 
      Privately-owned Commercial Banks (#11)
Adabank A.S. 212-272 64 20 212-272 64 46 www.adabank.com.tr 
Akbank T.A.S. 212-385 55 55 212-269 77 87 www.akbank.com.tr 
Alternatif Bank A.S. 212-315 65 00 212-233 15 00 www.abank.com.tr 
Anadolubank A.S. 212-368 70 00 212-296 57 15 www.anadolubank.com.tr 
Sekerbank T.A.S. 212-319 70 00 212-245 68 37 www.sekerbank.com.tr 
Tekstil Bankasi A.S. 212-335 53 35 212-328 13 28 www.tekstilbank.com.tr 
Turkish Bank A.S. 212-225 03 30 212-225 03 53 www.turkishbank.com 
Turk Ekonomi Bankasi A.S. 212-251 21 21 212-249 65 68 www.teb.com.tr 
Turkiye Garanti Bankasi A.S. 212-318 18 18 212-318 18 88 www.garanti.com.tr 
Turkiye Is Bankasi A.S. 212-316 00 00 212-316 09 00 www.isbank.com.tr 
Yapi ve Kredi Bankasi A.S. 212-339 70 00 212-339 60 00 www.ykb.com.tr 
      State-owned Commercial Banks (#3)
Turkiye Cumhuriyeti Ziraat Bankasi A.S.  312-310 37 47 312-310 11 34 www.ziraatbank.com.tr 
Turkiye Halk Bankasi A.S. 312-289 20 00 312-229 58 57 www.halkbank.com.tr 
Turkiye Vakiflar Bankasi T.A.O.  312-455 75 75 312-455 76 90 www.vakifbank.com.tr 
   Non-depository Banks (#13)
      Foreign Non-depository Banks (#4)
BankPozitif Kredi ve Kalkinma Bankasi A.S.  212-290 32 32 212-290 32 12 www.bankpozitif.com.tr 
Credit Agricole Yatirim Bank Turk A.S. 212-339 37 00 212-282 63 01 www.ca-cib.com.tr 
Merrill Lynch Yatirim Bank A.S.  212-319 95 00 212-319 95 01 www.ml.com.tr 
Taib Yatirim Bank A.S. 212-347 54 54 212-347 01 11 www.yatirimbank.com.tr 
      Privately-owned Non-depository Banks (#6)
Aktif Yatirim Bankasi A.S. 212-340 80 00 212-340 89 87 www.aktifbank.com.tr 
Diler Yatirim Bankasi A.S.  212-253 66 30 212-253 94 54 www.dilerbank.com.tr 
GSD Yatirim Bankasi A.S. 216-489 97 50 216-489 97 81 www.gsdbank.com.tr 
IMKB Takas ve Saklama Bankasi A.S.  212-315 25 25 212-315 25 26 www.takasbank.com.tr 
Nurol Yatirim Bankasi A.S.  212-286 81 00 212-286 80 01 www.nurolbank.com.tr 
Turkiye Sinai Kalkinma Bankasi A.S.  212-334 50 50 212-243 29 75 www.tskb.com.tr 
      State-owned Non-depository Banks (#3)
Iller Bankasi 312-310 31 41 312-310 74 59 www.ilbank.gov.tr 
Turk Eximbank 312-417 13 00 312-425 78 96 www.eximbank.gov.tr 
Turkiye Kalkinma Bankasi A.S. 312-417 92 00 312-418 39 67 www.tkb.com.tr 

Source: Banks Association of Turkey (TBB), updated on 01 December 2012

All About Turkey © Burak Sansal 1996–2014, a certified professional tour guide in Turkey. Contact Burak at buraksan@superonline.com for all kinds of regular and/or private travel services throughout the country.