The Best Banks in Turkey
Turkey, with its rich history and dynamic economy, is a popular destination for investment and trade in both the Middle East and Europe. The banking system in Turkey plays a crucial role in facilitating financial transactions and supporting economic development. With a variety of financial services, Turkish banks help individuals and businesses manage their financial resources while also contributing to economic stability.
Foreign nationals wishing to purchase property in Istanbul or anywhere else in Turkey are required to obtain a foreign exchange certificate from Turkish banks. In other words, all foreign nationals need this certificate to purchase property in Turkey.
In this article, we will list the best banks in Turkey, which have earned a prominent position in the country’s financial market due to their innovative services, advanced technologies, and excellent user experience. We will analyze the features, services, and strengths of these banks to help you understand the best options for your financial needs.
If you need information on opening a bank account in Turkey, click here.
Introduction to the Best Banks in Turkey
Here is a list of the best banks in Turkey:
Ziraat Bankası (Ziraat Bank of Turkey)
Ziraat Bank is a leading financial institution in the agricultural sector and rural development, which has seen significant growth in recent years. As a key supporter of farmers and producers, the bank offers a wide range of services, including financing for purchasing agricultural machinery and facilitating irrigation system improvements.
Ziraat Bank also focuses on innovation and new technologies to help farmers improve productivity and better cope with environmental challenges. With over 20 branches abroad, including in London, Athens, and Baghdad, Ziraat Bank continues to expand internationally and serves as a bridge between Turkish farmers and global markets.
One of the key services offered by Ziraat Bank for foreign nationals is issuing a foreign exchange certificate, which is required for purchasing property in Istanbul and other parts of Turkey.
VakıfBank
VakıfBank is one of Turkey’s three major state-owned banks and plays a vital role in the country’s banking system. The name “Vakıf” means foundation, reflecting the bank’s commitment to providing financial services to the community and supporting social projects. Offering a wide range of services, including savings and current accounts, loans, credit cards, and investment services, VakıfBank meets the diverse needs of its customers.
With modern technology and advanced internet systems, VakıfBank offers a convenient and efficient banking experience. As one of Turkey’s top banks, VakıfBank continuously works to improve the quality of life and economic development in the country.
Halkbank (Halkbank Turkey)
Halkbank, founded in 1938, is one of Turkey’s largest state-owned banks and has played a significant role in supporting the country’s economy. It offers diverse banking and financial services to citizens, businesses, and organizations, particularly in providing financing for small and medium-sized projects.
One of Halkbank’s notable features is its support for female entrepreneurs, offering ideal loans to help them start or expand their businesses. The bank’s insurance division also provides various insurance services, ensuring greater financial security for its clients.
Emlak Katılım Bankası
Emlak Katılım is one of the largest and most trusted institutions in the Turkish real estate sector. This bank specializes in real estate investments, offering a variety of services from financing for property purchases and construction to specialized investment consultations. With a focus on real estate and construction, Emlak Katılım is a reliable partner for those interested in property investment in Turkey.
İşbank (İş Bank)
İşbank, one of Turkey’s largest private banks, was established following the country’s independence. The bank offers a comprehensive range of banking services, including personal and commercial accounts, loans, and investment services. It also allows immigrants and tourists to open accounts and access a variety of financial services.
As a leader in modern banking and international services, İşbank offers a solid platform for those looking to invest in Turkey, making it a preferred choice for international customers.
Garanti BBVA
Garanti BBVA, founded in 1946, is one of Turkey’s leading private banks. The bank has quickly become a top player in the Turkish banking sector, offering a wide range of services, including attractive deposit accounts, loans, and investment services. With a strong emphasis on customer satisfaction and digital banking, Garanti BBVA is a top choice for individuals seeking advanced banking services.
Yapı Kredi
Yapı Kredi is the first private bank established in Turkey and offers a wide range of services including home and car loans, insurance, and credit cards. Known for its innovative approach, Yapı Kredi focuses on customer satisfaction and building strong relationships with its investors. The bank also runs various discount campaigns for medical and dental expenses and restaurant discounts, particularly on customers’ birthdays.
DenizBank
DenizBank is a well-known financial institution in Turkey, offering various services such as retail banking, investment banking, and financial management. The bank provides special services for foreign nationals residing in Turkey, including mortgage loans with favorable terms for property purchases. DenizBank also offers quick loans without the need for a guarantor, providing immediate financial relief.
Akbank
Akbank, founded in 1948, is one of Turkey’s leading private banks and is ranked among the largest banks globally. The bank provides comprehensive services in corporate banking, investment, commercial banking, treasury transactions, and more. With its advanced payment systems and international services, Akbank is a top choice for individuals and businesses looking for comprehensive financial solutions.
Şekerbank
Şekerbank is another prominent financial institution in Turkey, focusing on retail banking, corporate banking, and investment. The bank provides loans to small businesses and farmers to support entrepreneurship and development in rural areas. Şekerbank is also committed to environmental sustainability and has become a leading institution for financing businesses that prioritize ecological protection.
QNB Turkey (QNB Bank)
QNB is Qatar’s national bank and is one of the largest foreign banks in Turkey. It provides quick loans and a wide range of insurance services, including life insurance, car insurance, home insurance, and educational insurance, making it a trusted choice for those seeking reliable financial services.
Albaraka Türk
Albaraka Türk is a major financial institution in Turkey, known for its commitment to Islamic banking principles. The bank offers a variety of services, including private retirement insurance, and is considered a reliable partner for those seeking Islamic financial solutions.
Kuveyt Türk
Kuveyt Türk, established in 1989, was one of the first banks to offer interest-free loans in Turkey. This bank adheres to Islamic banking principles and provides services to various industries, including textiles, real estate, and metals. It has become a preferred bank for those seeking Sharia-compliant financial services.
Fibabanka
Fibabanka, which started in 1984, offers traditional banking services as well as a wide range of loans and financial services. With a focus on customer satisfaction, Fibabanka aims to provide innovative financial solutions and improve its clients’ banking experiences.
TEB Bank (Turkish Economy Bank)
TEB Bank, established in 1927, offers a wide variety of banking services, including personal and commercial banking, loans, and digital banking. Known for its innovative mobile banking application, TEB Bank remains a leader in digital banking in Turkey.
ING Bank Turkey
ING Bank Turkey, part of the global ING Group, has been active in Turkey since 1984. It offers exceptional financial services to individuals and businesses, including retail banking, corporate banking, and investment services.