Government and public banks in Turkey

The banking sector in Turkey is a review of government banks and their vital role in economic development

Government and public banks in Turkey

Turkey is home to many private and public banks, numbering approximately 50 banks, 10 of which are government banks.
The best public and state banks are Ziraat Bankasi, Vakifbank, and Halk Bankasi.

In the following list we will mention the 10 government banks:

• Vakifbank
• Vakif Katilim Bankasi
• Ziraat Bankasi
• Ziraat Katilim Bankasi
• Halk Bankasi
• Turk Eximbank
• Iller Bankasi
• Turkiye Kalkınma Bankasi
• Birlesik Fon Bankasi
• Adabank

Public deposit banks in Turkey:

There are three public deposit banks in Turkey: Ziraat Bank, Halk Bank, and Vakifbank.
These banks are state-owned and serve within the deposit bank.
‘Public deposit banks’ are state-sponsored banks that are not affiliated with individuals or institutions such as private banks.

Vakifbank

Adnan Menders founded Türkiye Vakıflar Bankası known as Vakıfbank in 1954.
This bank is one of Turkey’s preferred banks with branches in 6 countries: Austria, Germany, Cyprus, America, Bahrain, and Iraq.

Vakıf Katilim Bankasi

Vakıf Katilim Bankasi was established in 2015 with a capital of TRY 805 million and is considered a joint-stock company.
The bank’s 99% capital is due to the General Directorate of Institutions.
1% belongs to the Murad Pasha Bin Abdul Salam Foundation, the Mahmoud Han Evel Bin Mustafa Han Foundation, and the Bayezid Han Sani Foundation.

Ziraat bank

Ziraat Bank is one of the most famous government banks, being the first bank established in the country.
Operating since 1863, the bank offers lower interest rates than private banks, the preferred and most popular bank among government banks.

Ziraat Katilim Bankasi

Turkish President Recep Tayyip Erdogan is the first to open an account at Ziraat Katilim Bankasi.
Established in 2015 with a capital of TRY 675 million, this bank has 45 branches across the country.

Halk Bankasi

Halk Bankasi was founded in 1933 and began operations to support industry and trade in the period when it was opened.
Later, the Bank began to find other solutions to the needs of customers at appropriate interest rates through consumer loans, mortgage loans, auto loans, and other types of loans.

Turk Eximbank

Turk Eximbank, also known as the Turkish Export Credit And Credit Bank, was established in 1987 and was created for export development.
The bank provides credit, insurance, cash, and guarantee programs to exporting traders, contractors, manufacturers, and businessmen abroad.

Kamu Katılım Bankaları

Ziraat Bank for Projects and Vakifbank to participate are participating banks that are openly supported by participating banks.
Participating banks operate by the principles of interest-free deposits.
The savings funds are raised from customers and evaluated in the Trade and Industry Fund and their profits or losses are shared with their owners.

Kalkınma ve Yatırım Bankaları

Unlike other banks, these banks, known as development and investment banks, and public depository banks do not accept deposit funds.
Development banks are: ‘Turkiye Kalkinma Bankasi’, ‘Turk Eximbank’ and ‘Iller Bankasi’.
These banks act as financiers of private and public institutional investments.

Iller Bankasi

Iller Bankasi was founded in 1933 and is known as İlbank, and was activated with a capital of 15 million TURKISH liras.
This bank provides funds and loans to the departments of the provinces and private municipalities that work in the fields of banking, finance, consulting, and engineering.

Turkiye Kalkinma Bankasi

This bank, known as the State Industry and Labor Investment Bank, and the Turkish Development Bank were established in 1975.
This bank finances companies that serve the industrial, tourism, educational, energy, and health sectors.

Birlesik Fon Bankasi (TMSF Bankaları)

SDIF banks include ‘United Fund Banks’ and ‘Adabank Island Bank’ created to prevent corruption.
These banks protect the rights of customers by controlling banks that have been identified as corrupt.
The banks transferring the funds continue to operate by relying on the public.

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