Ranking of Banks in Turkey Has Changed
Ranking of banks in Turkey has been changed. Ziraat Bank did not lose the first place in 2020.
While the year 2020 was turbulent for the banking sector in Turkey, there were some changes in the order of magnitude. While Ziraat Bank kept its the first place in the list in 2020, Vakıfbank, which ranked fourth in 2019, rose to the second place.
According to Vakıfbank’s 2020 solo balance sheet, its total assets were announced as 699 billion TL. Vakıfbank was followed by Halkbank with a total asset of 680 billion TL.
In 2020, public banks led the order of size, followed by İşbank, which ranked second in the previous year. According to the solo balance sheet, İş Bank’s total assets were 593.9 billion TL.
Abdi Serdar Üstünsalih, General Manager of VakıfBank, which rose to the second place on the list this year, made the following assessment:
“Our bank has shown great devotion in this process in order to maintain the economic stability of our country and to be with our customers whenever they need it. With the appreciation of our customers, it has risen to the 2nd place. This is not only a financial result, but a solid indicator that VakıfBank stands by its country and nation in every field.”
The Fastest Increase of the Last 5 Years in Vakıfbank
As of 2020, it was seen that public banks took the first three places in banking according to their total assets for the first time in the last 5 years. The bank that increased its asset size the most compared to 2015 was Vakıfbank. The bank’s total assets increased by 284 percent in 2020 compared to 2015. Halkbank and Ziraat Bank followed Vakıfbank in asset increase.
Turkey’s National Income Is Approximately 5 Trillion Lira
Hüseyin Aydın, President of the Turkish Banks Association, spoke to Bloomberg HT. Stating that public banks stand out in the banking sector in 2020, Aydın used the following expressions:
“Turkey’s national income is about 5 trillion liras. This national income is generally compared with the size of banking. When we look at it like this, in the past, the size of the Turkish banking system was below the national income. When we look at developed and developing countries, this ratio was over 100 percent. In the last 15 years, while national income has grown, the banking system has grown faster. At the point we have reached today, the size of the Turkish banking system has increased to 110 percent or even 120 percent.
When we look at this year, we have grown the sector more than the growth in the country. When you grow and become strong, you can be more competent at managing crises. The size of the banking system is 6 trillion, which is above the sum of national income. When we examine this 6 trillion national income, when we look at the size of the balance sheet, the loan size reached a serious point.”
Source: Bloomberg HT
