The banking system covers most of the Turkish financial system. Almost all of the activities, both in the money and capital markets are carried out by banks. It is a consequence of the country's economic and historical development that Turkey's finance system and its banking sector are virtually synonymous with one another.
The Turkish financial system is based upon a universal banking system, which legally enables commercial banks to operate in all financial markets.
Despite their small market share, foreign banks have an important place in the Turkish banking system because of the new concepts and practices they have introduced. Particularly in the last decade, foreign banks have brought to the system new attitudes toward competition and dynamism. Turkish banks have begun developing strategies to replace unprofitable services and activities, install new services and increase profitability and competitive strength through better control of operating costs.
Istanbul Stock Exchange and Broker Companies are involved in both Turkish and international stock markets.
Foreign Banks Founded in Turkey (With 50% or more foreign ownership)
Arap Türk Bankası A.Ş.
ValikonaÄı Caddesi, 10 Nişantaşı, Istanbul
Tel: (212) 225 05 00
Fax: (212) 225 05 26
Arab Turkish Bank (A&T Bank) was established in 1977 and is a joint venture Bank between Arab (65%) and Turkish (35%) shareholders. The bank has the license to realize banking operations such as International Money Market transactions, Foreign Exchange operations, as well as engaging in global financing and deposit taking activities, and is set to become the link between the businessmen in Turkey, and Arab and other foreign countries.
Citibank A.Ş..
İnkilap Mah. Ömer Faik Atakan Caddesi Yılmaz Plaza 3,
Ümraniye Istanbul
Tel: (216) 524 50 00
Fax: (216) 524 50 50
Citi started doing business in Turkey in 1975 with corporate banking services and began to operate as a branch in 1981. However, even before the bank established a presence in Turkey, Citi was involved into many development projects such as motorway financings, power plants and dams. Citibank was the first foreign bank in Turkey to provide commercial banking services.
Denizbank A.Ş.
Büyükdere Caddesi, 110
Esentepe Istanbul
Tel: (212) 355 08 00
Fax: (212) 274 79 93 - 266 93 00
DenizBank was founded in 1938 as a state-owned bank in order to provide funding for the developing Turkish maritime sector. The bank was privatized in 1997.
Denizbank has been operating under the Dexia umbrella, a leading financial group in Europe, since 2006.
Deutsche Bank A.Ş.
Eski Büyükdere Caddesi Tekfen Tower No. 209 Kat 17-19
4 Levent - Istanbul
Tel: (212) 317 01 00
Fax: (212) 317 01 05
Since 1987 Deutsche Bank has provided corporate banking services in Turkey from its Istanbul headquarters. Changing its banking license in 2004, Deutsche Bank A.S. extended the scope of its services to offer a wider range of corporate banking products and it competes as a full-service bank in Turkey.
Eurobank Tekfen A.Ş.
Eski Büyükdere Caddesi, Tekfen Tower 209
4 Levent ' Istanbul
Tel: (212) 371 37 37
Fax: (212) 357 08 08
Eurobank Tekfen was founded in 1989 as an investment and finance bank whose name was Tekfen Yatırım ve Finansman Bankası. As of 2007 Eurobank EFG, the second largest bank in Greece, purchased majority shares of the bank and the name changed to Eurobank Tekfen in 2008.
Finansbank A.Ş.
Büyükdere Caddesi, 129
Mecidiyeköy Istanbul
Tel: (212) 318 50 00
Fax: (212) 318 55 78
Finansbank was founded in 1987 by Hüsnü Özyeğin. In 2006, Finansbank sold 46% of its shares to the National Bank of Greece (NBG), the largest bank of Greece.
Fortis Bank A.Ş.
Yıldız Posta Caddesi 54,
Gayrettepe-Istanbul
Tel: (212) 318 38 38
FaÅ: (212) 272 52 78
Fortis entered to the Turkish finance market in 2005, acquiring DıÅbank. Fortis Bank Belgium is the majority shareholder. Fortis Turkey is active in retail, corporate and merchant banking and asset management.
HSBC Bank A.Ş.
Esentepe Mahallesi, Büyükdere Caddesi 128
Şişli ' Istanbul
Tel: (212) 376 40 00
Fax: (212) 336 29 39
HSBC Bank (Turkey) A.Ş. is a wholly owned subsidiary of HSBC Bank plc and was
established in Turkey in 1990. Since that time, it has offered a comprehensive and flexible range of services for personal, corporate and institutional customers with the understanding and knowledge of the unique needs of customers in Turkey.
ING Bank A.Ş.
Eski Büyükdere Caddesi, AyazaÄa Köy Yolu 6
Maslak, Sarıyer-Istanbul
Tel: (212) 335 10 00
Fax: (212) 286 61 00
Former Oyak Bank, which was founded in 1984. ING Bank, a global financial institution of Dutch origin, acquired 100% of Oyak Group's shares in Oyak Bank in 2007. the transformation from Oyak Bank to ING Bank brand was completed in 2008.
Millenium Bank A.Ş.
Esentepe Mahallesi, Villa Sokak 5
Esentepe ' Istanbul
Tel: (212) 306 35 00
Fax: (212) 216 35 24
Launched in 2003 as Millennium BCP's (Banco Comercial Portugues) investment in Turkey with the name 'BankEuropa'. As of December 2006, BankEuropa was rebranded as 'Millennium Bank'. The bank provides banking services and commercial banking to SME's in Turkey.
Turkland Bank A.Ş.
19 Mayıs Mahhallesi, 19 Mayıs Caddesi
Şişli Plaza A Blok, 7
Şişli Istanbul
Tel: (212) 368 34 34
Fax: (212) 368 35 35
Former MNG Bank. As of 2007, the Bank's name was changed to Turkland Bank A.Ş. (T-Bank). Main shareholders are Arab Bank Plc and BankMed Sal.
Foreign Banks Having Branches in Turkey
ABN Amro Bank N.V.
Tanburi Ali Efendi Sok. 13
Etiler, Beşiktaş - Istanbul
Tel: (212) 359 40 40 )
Fax: (212) 359 50 50
Amsterdam-Rotterdam (Amro) Bank is a powerful bank in world markets, building on a tradition of stimulating international trade. The bank has 3500 branches throughout the world.
Bank Mellat
Büyükdere Caddesi Birbirçiçek Sokak 1,
1. Levent - Istanbul
Tel: (212) 279 80 15
Fax: (212) 284 62 14
Bank Mellat Turkey is a 100% subsidiary of Bank Mellat Iran and began to operate in İstanbul in 1982.
JPMorgan Chase Bank N.A.
Büyükdere Caddesi 185
Kanyon Ofis Binası Kat 8
Levent - Istanbul
Tel: (212) 319 85 00
Fax: (212) 319 86 64
Habib Bank Ltd.
Abide-i Hürriyet Caddesi, Geçit Sokak 12, Sisli
Tel: (212) 246 02 20
Fax: (212) 234 08 07
HBL is the first commercial bank in Pakistan and was established in 1947. HBL Turkey was founded in Istanbul in 1983.
Société Générale (SA)
Nispetiye Caddesi, Akmerkez E-3 Blok Kat 10
Etiler Istanbul
Tel: (212) 319 34 00
Fax: (212) 282 18 48
WestLB AG
Ebulula Mardin Caddesi, Maya Park Towers II
Akatlar Istanbul
Tel: (212) 339 25 00
Fax: (212) 352 22 58,352 22 42
WestLB began its activities in Turkey in 1990.WestLB Istanbul is a respected partner in treasury, correspondent banking, investment banking and trade finance as well as structured finance products.
Representative Offices of Foreign Banks in Turkey (As of 2008)
American Express Bank
Swiss Otel Suit Tower 2711
Beşiktaş - Istanbul
Tel: (212) 259 10 08
Fax: (212) 261 70 14
Banka Commerciale Italiana
Cinnah Caddesi 7/3, Kavaklidere, Ankara
Tel: (312) 467 11 70
Fax: (312) 426 37 22
Bank for Foreign Trade of Russian Federation
Tekfen Sitesi, Birlik Apt. A-13, Daire 10
Ulus ' Istanbul
Tel: (212) 257 61 83
Fax: (212) 257 61 74
Bank für Handel und Effekten
Konaklar Mahallesi, SöÄüt Sokak No. 5/3
Levent - Istanbul
Tel: (212) 278 05 29
Fax: (212) 269 52 15
Bank Kreiss AG.
Büyükdere Caddesi, 14/2
Şişli - Istanbul
Tel: (212) 233 91 09
Fax: (212) 233 90 12
Bank of Tokyo - Mitsubishi Ltd.
Büyükdere Caddesi 100-102, B Blok, Kat: 20
Esentepe - Istanbul
Tel: (212) 288 56 45
Fax: (212) 288 56 46
Banque de Commerce et de Placements S.A.
Büyükdere Caddesi No 14
Şişli, Istanbul
Tel: (212) 233 36 30
Fax: (212) 233 36 36
Banque Indosuez
Büyükdere Caddesi, Yapı Kredi Plaza
C Blok Kat 15, No. 20
Levent ' Istanbul
Tel: (212) 279 73 11
Fax: 279 84 93
Banque Internationale de Commerce
Kore Şehitleri Caddesi 9
Esentepe, Istanbul
Tel: (212) 272 94 27
Fax: (212) 274 45 37
Banque Paribas
Mete Caddesi 22/3, Taksim Istanbul
Tel: (212) 245 34 21
Fax: (212) 251 43 85
BNP Banque Nationale de Paris
Inönü Caddesi, Vakıf İş Hanı 2, Kat: 2
Taksim, Istanbul
Tel: (212) 251 74 47
Fax: (212) 251 74 49
CBI-TDB Union Bancaire Privee
Swissotel Suite Tower 2911
Besiktas, Istanbul
Tel: (212) 259 29 10
Fax: (212) 259 47 16
Commerz Bank A.G.
Mete Caddesi 20/4
Taksim, Istanbul
Tel: (212) 251 53 50
Fax: (212) 251 53 52
Credit Lyonnais
Setüstü Haktan Ishani 45 Kat: 4
Kabatas, Istanbul
Tel: (212) 251 63 00
Fax: (212) 251 77 24
Demir Halk Bank (Nederland) N.V.
Bayıldım Caddesi, 2. Maçka Suit Tower 2711
Besiktas, Istanbul
Tel: (212) 236 00 79
Fax: (212) 236 04 93
Dresdner Bank
InönüCaddesi 70/5
Gümüssuyu, Istanbul
Tel: (212) 252 66 84
Fax: (212) 252 66 83
First Union National Bank of North Carolina
BJK Plaza A Blok Kat:9, No 97
Beşiktaş ' Istanbul
Generale de Bank
Büyükdere Caddesi, Yapı Kredi Plaza
C Blok, Kat 15
4 Levent ' Istanbul
Tel: (212) 280 98 79
Fax: (212) 281 14 73
Internationale Nederlanden Bank N.V. (ING BANK)
Bronz Sok. 1/19, Maçka ' Istanbul
Tel: (212) 231 90 31
Fax: (212) 247 10 74
Instituto Bancairo San Paulo di Torino
Ediz & Süner Plaza, Meydan Sok 14 Kat 1/A
Akatlar - Istanbul
Kredietbank
Kızkulesi Sokak 3/5
Gaziosmanpasa, Ankara
Tel: (312) 447 09 93
Fax: (312) 447 09 96
Rabobank Nederland
Maslak Kule Meydanı Sokak 28, Kat 14
Maslak, Istanbul
Tel: (212) 290 23 63
Fax: (212) 290 23 77
Sovran Bank (Central South)
Setüstü 79, Set apt. Kat 3, Daire 7
KabataÅ ' Istanbul
Tel: (212) 245 41 55
Fax: (212) 245 20 93
Sumitomo Bank Ltd.
Büyükdere Caddesi, Yapı Kredi Plaza
B Blok, Kat 7, Levent ' Istanbul
Tel: (212) 280 08 30
Fax: (212) 280 08 45
The Bank of Newyork
Büyükdere Caddesi 108, Enka Han Kat 4
Esentepe-Istanbul
Tel: (212) 275 76 15
Fax: (212) 272 54 51
Taib Bank
19 Mayıs Mahallesi, Dr. Sevket Bey Sokak 5
Sisli, Istanbul
Tel: (212) 225 70 90
Fax: (212) 231 95 99
United Garanti Bank Int. N.V.
Büyükdere Caddesi Meydan Sokak Maslak Kule 28/80
Maslak, Istanbul
Tel: (212) 290 26 60
Fax: (212) 290 26 65
We do our best to provide accurate and up to date information. However, if you have noticed any inaccuracies in this article, please let us know in the comments section below.
