Banks in Turkey
The Central Bank of Turkey
The history of banking in Turkey dates back to the 19th century. The first bank-like institution was established in Istanbul in 1847 under the name of Istanbul Bank, also known as Bank-i Dersaadet. Following the long history of banking in Turkey, 1980 was the year in which the banking sector started to grow rapidly after the introduction of a Free Market Economy. But due to some shortcomings in the system, major financial crises occurred and brought the 2001 economic crisis, which became the most critical crisis in the history of the Republic. After that, the banking system has been restructured.
The Central Bank of Turkey creates the center of the banking system in Turkey. In 2001, the legal framework of the Central Bank of Turkey was adjusted to increase its independence.
In terms of foreign investment, the 2001 crisis brought the free float exchange rate regime to the Turkish economy. The Central Bank does not intervene in the foreign exchange market, except for excessive volatility.
The tasks of the Central Bank of Turkey include:
- Printing banknotes and circulating money
- Determining monetary policy: It determines the interest rates and serves banks as the ultimate credit authority.
- Being the financial agent of the government
As of January 2020, there are 53 banks in Turkey. The most important ones are listed below.
Deposit banks in Turkey
These are divided into state-owned and privately-owned deposit banks.
State-owned deposit banks
State-owned deposit banks are banks, whose capitals belong to the treasury or other public entities. In Turkey, the state-owned deposit banks are:
Haci Bayram Mahallesi Ataturk Bulvari, No:8 06050 Altindag / ANKARA
T (0 312) 584 20 00
Barbaros Mahallesi, Sebboy Sokak No:4/1 34746 Atasehir / Istanbul
T (0216) 503 70 70
Saray Mahallesi Dr. Adnan Buyukdeniz Caddesi No:7/A-B 34768 Umraniye / Istanbul
T (0216) 724 10 00
Privately owned deposit banksPrivately owned deposit banks are banks owned by private individuals and organizations that do not have a public share in their capital. The privately-owned deposit banks in Turkey are the following:
Akbank Genel Mudurlugu Sabanci Center, 34330, 4.Levent / Istanbul
Saray Mah., Toya Sk., No:3, 34768 Umraniye / Istanbul
Dikilitas Mah., Emirhasn Cad. Barbaros Plaza Is Merkezi, No: 113., Gayrettepe / Istanbul
T 444 88 88
Emniyet Evleri Mahallesi, Eski Buyukdere Caddesi, No:1/1A, Kagithane / Istanbul
T (0212) 319 70 00
Turkish Bank A.S.
Valikonagi Cad. No:1, 34371 Nisantasi / Istanbul
T (0212) 373 73 73
Turk Ekonomi Bankasi A.S.
TEB Kampus C ve D Blok Saray Mah. Sokullu Cad. No:7A-7B, 34768, Umraniye / Istanbul
T 0850 200 0 666
Turkiye Is Bankasi A.S.
IS Kuleleri, Kule 1, Kat:15, 34330 Levent / Istanbul
T 0850 724 0 724
Yapi ve Kredi Bankasi A.S.
Yapi Kredi D Blok Plaza Buyukdere Cad. Levent 34330 Besiktas / Istanbul
T (0212) 339 70 00
Foreign Banks in Turkey
Some of the foreign banks in Turkey have their shares up to 100% from foreign investment. Others have partner shares with private Turkish companies.
The foreign banks that have been founded in Turkey are the following:
Alternatif Bank A.S.
Vadistanbul Bulvar, Ayazaga Mah. Cendere Cad. No: 109M 2D Blok 34485 Sariyer / Istanbul
T (0212) 315 65 00
Arap Turk Bankasi A.S.
Valikonagi Cad. No: 10 Nisantasi 34367 İstanbul – Turkiye
T (0212) 373 62 00
Bank of China
4. Levent, Esentepe Mah. Buyukdere Cad. No: 209 Kat: 21, 34394, Sisli / Istanbul
T (0212) 260 88 88
Bank of Tokyo-Mitsubishi UFJ Turkey A.S.
Fatih Sultan Mehmet Mah. Poligon Cad. Buyaka 2 Sitesi No:8 Kat 20-21, 34771, Umraniye / Istanbul
T (0216) 600 30 00
Burgan Bank A.S.
Maslak Mah. Eski Buyukdere Cad. No:13 PK:34485 Sariyer / Istanbul
T 0850 222 8 222
Tekfen Tower, Eski Buyukdere Cad. No:209, 34394, Levent / Istanbul
T (0212) 319 45 00
Buyukdere Cad. No:141 34394 Esentepe / Istanbul
T (0212) 348 20 00
Deutsche Bank A.S.
Esentepe Mahallesi, Buyukdere Caddesi, Tekfen Tower No: 209 K: 17-18, 34394, Sisli / Istanbul
T (0212) 317 0100
Esentepe Mah. Buyukdere Cad. No:128, 34394, Sisli / Istanbul
T (0212) 376 40 00
ICBC Turkey Bank A.S.
Maslak Mah. Dereboyu 2 Caddesi, No:13, 34398, Sariyer / Istanbul
T (0212) 335 5335
ING Bank A.S.
Eski Buyukdere Cad., Ayazaga Koy Yolu, No: 6, Maslak / Istanbul
T (0212) 335 14 78
Esentepe Mahallesi Buyukdere Cad. Levent 199 Apt. No:199, Sisli / Istanbul
QNB Finansbank A.S.
Esentepe Mah. Buyukdere Cad. Kristal Kule Binasi No 215 Sisli / Istanbul
T (0212) 318 50 00
River Plaza Esentepe Mah. Buyukdere Cad. Bahar Sk. No:13 K:7 Ofis No:15-16 Sisli / Istanbul
T (0212) 708 46 00
T (0212) 708 46 00
19 Mayis Mah. 19 Mayis Cad. Sisli Plaza A Blok No:7, 34360, Sisli / Istanbul
T 444 8265
Garanti BBVA A.S.
Nispetiye Mah. Aytar Cad. No:2, 34340, Levent, Besiktas / Istanbul
T (0212) 318 18 18
Foreign banks with branches in TurkeyThe following foreign banks have not been found in Turkey, but have branches:
Habib Bank Limited
Intesa Sanpaolo S.P.A
JP Morgan Chase Bank N.A.
Société Générale S.A.
The Royal Bank of Scotland PLC
Islamic Banks in TurkeyThere are also a number of dedicated Islamic Banks in Turkey, and banks that offer Islamic window operations through regular banks. The banks that can be named under Islamic Banks in Turkey are the following:
Kuveyt Turk Bankasi
Buyukdere Cad. No: 129/1 Kat: 11 34394 Esentepe / Istanbul
T 444 0 123
Turkiye Finans Bankasi
Saray Mah. Sokullu Cd No:6, 34768 Umraniye / Istanbul
T 0850 222 23 35
Saray Mah. Dr.Adnan Buyukdeniz Cd. No.8 34768 Umraniye / Istanbul
T (0216) 633 50 00
Bizim Menkul Degerler
Inonu Cad. Kanarya Sk. No:25 Kat:4 Yenisahra, Atasehir / Istanbul
T 444 1 263
Halide Edip Adivar Mah. Darulaceze Cad. No: 20 Kat: 4, 34382, Sisli / Istanbul
T 444 42 55
Published on 2020-04-25
Updated on 2020-04-25
Updated on 2020-04-25