Istanbul is the capital of trade, business, investment, finance and tourism in the country. It has …0

The most important banks in ...

Date:Tuesday, October 19, 2021

Istanbul is the capital of trade, business, investment, finance and tourism in the country. It has …0

Istanbul is the capital of commerce, business, investment, finance and tourism in the country. The commercial movement of Turkish banks or banks began in the early nineteenth century in the famous “Galata” tower, and it was called “the money exchange” at the time.
There are many banks and financial banks in Turkey today, which opened a great investment horizon for Turkish citizens and foreigners. These banks have spread and become famous and have extended their branches even beyond the borders of Turkey.

In this article we review with you the most important financial investment banks in the Republic of Turkey and their types.

The most important banks in Turkey

Participation Banks

- Kuwait Turk Participation Bank - Kuveyt Türk Katılım Bankası

“Kuwait Turk” Bank is the largest Islamic bank (without interest) in Turkey, with the bank’s founding dating back to 1989 AD. It was established as the first full-service Islamic bank, and it is considered one of the most important banks, according to the statement of the CEO of the bank, “Ofuk Oyan”.
It has a gold reserve estimated at 25 tons, and the Kuwait Finance House is the largest shareholder in the bank, owning 62% of the bank.
The Turkish Endowment Bank owns 18%, the General Organization for Social Insurance owns 9%, and the Islamic Development Bank also owns 9%, while 2% is distributed among other shareholders.
Kuwait Turkish Bank has 227 branches in Turkey, and it is witnessing an increasing demand as it provides distinguished facilities and services that attract customers and encourage families to deposit their gold savings with it for investment.
The bank has won many awards from public institutions and professional associations as a result of its contribution to raising the country's economy, and its contribution to attracting Gulf and European capital and investments to the Turkish market.
Islamic banks have continued their expansion in Turkey since 2002, after the government support has grown since the Justice and Development Party took power in the country.

Albaraka Bank Turkey Albaraka Türk Katılım Bankası
It was established in 1984 in Istanbul, Turkey by the Bahraini Al Baraka Group and started its commercial activity in 1985 under the name Al Baraka Turkish Private Finance Corporation. It is known as the first joint bank in Turkey. The ownership structure consists of 66.51% by foreign investors, 12.91% by local parties and 20.57% by IPO.
In addition to Al-Baraka Alturki, which provides financial services to its clients through its branches, it also operates as Anadolu Agency for Insurance, Anadolu Ownership and Life Insurance, and sells insurance policies, private pension plans, and other services related to its field.
Albaraka Alturki, in cooperation with Anatolia Imtilak and Life Insurance, recently announced that it will offer private pension plans in which the collected funds will be used in non-profit financial instruments that are compliant with Islamic law. This product is specifically aimed at the most sensitive Islamic customers.
Al Baraka Turk owns profit and loss sharing, consumer financing, and credit card licensing documents.

Goverments banks in Turkey

Ziraat Bank
In this bank, there are more than 24,374 employees working in the agricultural branches spread throughout Turkey, which number more than 1545 branches, and one of the most prominent services provided by the bank is that it has opened a partnership with many investment companies, and the bank includes within its group the following local financial companies Agricultural for insurance, agricultural for participation, agricultural for retirement, agricultural for leasing, and agricultural for technology, in addition to the agricultural financial portfolio. The bank also provides many banking services such as deposit and exchange via the Internet and loans and allows various bank cards to customers.

Vakif Bank
This bank was established in 1957 in response to the requirements of economic development. Since then, the bank has contributed to the development and application of modern banking technologies in Turkey, and through customer management, it has proven highly effective and efficient.
This bank provides its banking services to commercial companies of all levels and also serves individuals in many respects. It is one of the leading banks in Turkey. It also provides banking and investment services and various capital activities, and finances local and foreign trade and plays an important role in that.
This bank has branches all over the world. It also has branches in New York, Erbil, northern Iraq, the coast of Bahrain, Austria and Germany, and it has a branch in Northern Cyprus.
This bank helped improve the country's economy and is still seeking to contribute to that... Today, this bank has become a symbol of the Turkish banking sector.

Halk Bank
A government bank established in 1933 and began to provide its services in 1938, and opened branches that give direct loans in 1938. The aim of its establishment was to raise capital and attract professional entrepreneurs in order to maintain the integrity of society and establish a strong economic system, the bank began to generalize its services throughout Turkey Completed in 1964 AD, but it was on the verge of bankruptcy when Recep Tayyip Erdogan took over the government in 2002, and in 2013 it became the seventh bank in the Turkish state in terms of property. Contributed to the Turkish economic renaissance, and played other roles, most notably being the link for Iranian oil interests in light of the embargo imposed on it by the United States and its allies.
Today, Halk Bank continues to provide its services in all centers and branches spread in Turkey, as well as providing its services outside Turkey in coordination with its representatives and employees.

Private Banks in Turkey

Yapı Kredi . Bank

Yapi Kredi Bank was established in 1944 by Mr. Kazem Tashkent as the first private bank in Turkey. The bank now has more than 1012 branches and more than 18,000 thousand employees. The bank is the union of two of the largest and most powerful institutions, Yapi Kredi and Koçbank, to provide various types of banking services to customers.
The total consolidated assets of the bank are about 223.8 million 

Yar Turkish Lira, which is ranked fourth among private banks in Turkey, and the number of its customers is more than 10.9 million. With these capabilities, Yapi Kredi Bank is one of the largest financing and investment banks in Turkey

Deniz Bank was established in 1938 as a government bank that finances the ever-developing Turkish maritime transport sector. In 1997, the bank was purchased and transferred from the government sector to the private sector, and the European Dexia Group was joined in 2006, which is considered one of the first financial institutions in Europe. Dexia has acquired the main shares of the bank for 6 years
After the agreement that took place in 1997, he began implementing the “Back to Life” program, which includes opening new branches and employing more people through a strategic plan. to its current location.
The bank has a branch in Bahrain and 5 local partners are non-financial, three international financial partners and seven local financial partners
The bank also has a branch in Russia, and the bank also operates in the European Union in Vienna
In the first place, Deniz Group focused on retail clients and small and medium-sized companies. Among the markets that the group showed priority as well, are the markets of agriculture, energy, tourism, education, health and maritime transport.
The bank in Turkey has a network that can reach everywhere as it has 724 branches in Turkey and Bahrain

Akbank, the Turkish white bank, was established in 1948 in the city of Adana with the aim of financing merchants working in the cotton field at that time. Then another branch was opened in Istanbul in 1950 and the administration moved there.
Then it expanded, and the number of its branches increased, and its cash transactions increased. Today, it owns more than 770 branches and more than 12 thousand employees, and provides its services to about 18 million customers.
It provides corporate and investment banking, commercial banking, small and medium business banking, retail banking, payment systems, treasury transactions, private banking and international banking.

Business Bank  iş bankası
This bank was established in the Republic of Turkey in 1924. It was the first Turkish bank established under the guidance of Mustafa Kemal Atatürk and ranked among the top 100 banks in the world. It has branches in many foreign countries outside Turkey, especially in Europe.

Garanti Bank Garanti
This bank was established in Ankara in 1946 and this bank provides the most prominent services in all areas of insurance. It has branches in Luxembourg, London and Shanghai outside of Turkey. It has more than 1,000 branches in the provinces of Turkey.

What papers are required to open a bank account in Turkey?
The procedures for opening a bank account in Turkey are generally easy, all you need to prepare the following papers and documents:

- passport.

- A valid residency card (some Turkish banks do not require a Turkish residency).

- The tax number can be obtained within minutes from one of the branches of the tax department.

- Proof of housing through (persons registration, lease contract, property title deed, or utility bill).

And if you plan to buy a property and obtain Turkish citizenship by investment, many documents will be common to these transactions.

What services do Turkish banks provide?

- Turkish banks offer a number of important and easy-to-implement services, including:

- Paying bills, such as: water, gas, electricity and internet bills.

- Transfer and receive money in real time.

- Exchange currencies, buying and selling, at better rates than traditional exchange shops.

- Trading in gold and metals.

- Payment of rent and fees.

- Regular and online shopping.

- Receipt of international transfers.

- Postpaid and prepaid credit cards.

What are the banks that provide customer service in Arabic in Turkey?

1- Kuveytturk Bank.

2- Al Baraka Bank

3- Akbank


Related Blogs:

ways to invest money

Investment conditions in Turkey

Who is the real estate advisor? What are the criteria for his selection?

Real estate investment opportunities in Turkey

The importance of investing in Turkey


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