What are the most important banks in Turkey?

Most important banks in Turkey

The banking sector in Turkey has become an additional factor to attract more foreign investments to the country. The reason behind this is its technical and legislative infrastructure. In this article, we will discuss with you the most important governmental and commercial banks, with a special eye on Islamic banks in Turkey.

In this article, you will read: 

  • Why should you choose banks in Turkey?
  • The documents you need when opening a bank account in Turkey
  • What are the most important local and international banks operating in Turkey?
  1. Türkiye Ziraat Bankası
  4. AKbank
  5. Anadolu Bank
  • The most important Islamic banks in Turkey
  1. Kuveyt Türk Katılım Bankası
  3. Al Baraka Turk Bank

Why should you choose banks in Turkey?

Recently, Turkey has witnessed a great demand in all sectors of the Turkish investment market, especially real estate investment in Istanbul. Therefore, it was necessary to have a reliable banking pillar, and here the role of Turkish banks emerged as a safe incubator for various financial assets.

Turkish banks rely on a strong and flexible banking system, they rely on the latest advanced technology techniques in all their services and in preserving and monitoring their data.

In addition to its competitive offers to attract customers, it meets the needs of depositors and investors alike, through:

  1. Facilitating opening accounts of various kinds; Such as checking accounts, deposit accounts, and investment accounts.
  2. Facilitating the opening of a subsidiary or secondary bank accounts for the main account of the client or company.
  3. Providing several currencies for one account, by giving the customer an international transfer number – IBAN, for each currency such as the US dollar, the euro, and the Turkish lira.
  4. Providing special accounts for pure gold, in its traditional solid form, and the liquid is easy to trade in cash.
  5. Issuing basic and supplementary ATM cards, as well as credit cards of various issues such as Visa, MasterCard, and modern Turkish credit cards.
  6. Providing solid safety deposit boxes, to store jewelers and important documents safely, inside the headquarters of banks in Turkey, in exchange for rental fees that are considered low globally.
  7. Offering many new banking services for savings, trading, investment, financing, and personal and commercial loans at preferential rates that are attractive and competitive among the various Turkish banks.

The documents you need when opening a bank account in Turkey

The process of opening a bank account in Turkey is easy and you will need basic supporting documents that are easy to present as follows:

1- Turkish residency, if any.

2- A valid passport.

3- A tax number that can be obtained from one of the tax department offices within minutes.

4- A document proving the customer’s address, such as a bill for electricity, water, or internet services, or the address entry issued by the Turkish Civil Affairs Department, and it is accepted to submit an electronic copy that can be issued through the e-devlet.

What are the most important local and international banks operating in Turkey?

  • Türkiye Ziraat Bankası

The first bank in the history of the Ottoman Empire was opened in 1888, bearing the name Agricultural Bank (Ziraat), which is the oldest bank in Turkey.

Ziraat Bank owns more than 4,163 ATMs and more than 1,545 branches. Its branches are distributed in all Turkish cities, with more than 24,374 employees working in them.

The oldest bank in Turkey includes a number of financial companies, which provide their distinctive services to various commercial sectors, and social groups of citizens and residents, such as:

  • Ziraat Retirement Company.
  • Ziraat Leasing Company.
  • Ziraat Insurance Company.
  • Ziraat Technology Company.
  • Ziraat Finance Portfolio.
  • Ziraat for local partnerships.

Ziraat Bank also has international branches outside Turkey, such as the New York branch, London, Bulgaria, Georgia, Baghdad, Erbil, and other branches around the world.

It is worth noting that the bank recently launched branches for Islamic transactions under the name of Ziarat Katilim Bank.


The Turkish VAKIF BANK was established in 1957. This bank provides banking and investment services to commercial companies, as well as services to individuals. 

This ancient bank is actively participating in strengthening the country’s economy. Today, the Turkish VAKIF BANK has become one of the symbols of the Turkish banking sector.

It recorded a net profit of 386.3 million Turkish liras, equivalent to 139.2 million dollars, in the second quarter of 2020.

VAKIF Bank is the fifth-largest bank in Turkey, and it has more than 610 branches in various Turkish cities. In addition to foreign branches in New York, Austria, Germany, and Erbil in northern Iraq.


Granti Bank was established in 1946 in the Turkish capital, Ankara, and is a private commercial bank that provides services to individuals and investors, in addition to its services in the insurance sector.

It has more than 1000 local branches in addition to its branches outside Turkey, such as Luxembourg, London and Shanghai.

  • AKbank

AkBank opened in 1948 in Adana, intending to finance cotton merchants at the time. Most of its ownership belongs to the Sabanji family, and it currently has nearly 1,000 branches distributed throughout Turkey.

This Turkish commercial bank was able to occupy an important position on the list of the top 500 banks in the world for 4 consecutive times.

  • Anadolu Bank  

Anadolu Bank was established in 1997, and it has about 120 branches distributed in all Turkish cities, and one branch in the Netherlands.

This bank supports small and medium enterprises in Turkey and aims to encourage young people to launch their own projects, which will positively affect the development of entrepreneurship and its prosperity in the Turkish economy.

Through Anadolu Bank, various bills and taxes can be paid such as income tax, car tax, corporate tax, in addition to paying traffic fines.

The most important Islamic banks in Turkey

  • Kuveyt Türk Katılım Bankası 

Kuveyt Türk Katılım Bankası is the favourite bank of Arab investors and one of the most famous Islamic banks in Turkey today. It is the largest Islamic bank in Turkey according to the size of its financing balance, and it has more than 290 branches around Turkey.

Kuveyt Türk Bank won the award for the best research and development centre in the banking and finance sector in Turkey 4 times and has achieved the highest net profit rate over the past few years.


A senior partner of The National Commercial Bank, as well as the Boydak Holding and the pioneering Ulker Group.

TÜRKİYE FİNANS KATILIM BANK was established in 1987, and it has recently achieved net profits of 375 million 360 thousand Turkish liras (99.8 million dollars).

  • Al Baraka Turk Bank

It is an Islamic bank established in Istanbul in 1984 by Al Baraka Banking Group, one of the most important groups in the Middle East, the Islamic Development Bank, and a Turkish trading partner.

The bank has many branches inside and outside Turkey, such as the United Kingdom, China, South Africa, and Australia.

It is distinguished based on the idea of sharing profits and not on the traditional interest system, so it is one of the pioneers of Islamic banking in Turkey.

Edited by: Extra Property ©

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