Banks in 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.  

These are divided into state-owned and privately-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:

Ziraat Bankasi

Haci Bayram Mahallesi Ataturk Bulvari, No:8 06050 Altindag / ANKARA

T (0 312) 584 20 00

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Halkbank

Barbaros Mahallesi, Sebboy Sokak No:4/1 34746 Atasehir / Istanbul

T (0216) 503 70 70

Vakifbank

Saray Mahallesi Dr. Adnan Buyukdeniz Caddesi No:7/A-B 34768 Umraniye / Istanbul

T (0216) 724 10 00

Privately owned deposit banks

Privately 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 T.A.S. 

Akbank Genel Mudurlugu Sabanci Center, 34330, 4.Levent / Istanbul

T 4442525

Anadolubank A.S. 

Saray Mah., Toya Sk., No:3, 34768 Umraniye / Istanbul

T 08502225550

Fibabanka A.S. 

Dikilitas Mah., Emirhasn Cad. Barbaros Plaza Is Merkezi, No: 113., Gayrettepe / Istanbul

T 444 88 88

Sekerbank T.A.S. 

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

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

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

Citibank A.S. 

Tekfen Tower, Eski Buyukdere Cad. No:209, 34394, Levent / Istanbul

T (0212) 319 45 00

Denizbank A.S.

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

HSBC A.S.

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

Odeabank A.S. 

Esentepe Mahallesi Buyukdere Cad. Levent 199 Apt. No:199, Sisli / Istanbul

T 4448444

QNB Finansbank A.S.

Esentepe Mah. Buyukdere Cad. Kristal Kule Binasi No 215 Sisli / Istanbul

T (0212) 318 50 00

Rabobank A.S. 

River Plaza Esentepe Mah. Buyukdere Cad. Bahar Sk. No:13 K:7 Ofis No:15-16  Sisli / Istanbul
T (0212) 708 46 00

T-Bank A.S. 

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 Turkey

The following foreign banks have not been found in Turkey, but have branches:

Bank Mellat

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 Turkey

There 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:

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