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Turkish financial services sector growth and trends

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2026-10-21 05:07 UTC → 2026-10-23 10:18 UTC · added ~~removed~~

Data from 2025 indicates significant expansion within the Turkish financial sector. ~~The~~ According to the Turkish Statistical Institute (TÜİK), the value added by financial intermediary institutions reached ~~2.99~~ 2.993 trillion TL, a 70.9 percent increase from the previous ~~year,~~ year. The sector's workforce grew to an annual average of 360,745 employees, with ~~the~~ a nearly balanced gender distribution of 49.8 percent women and 50.2 percent men. The insurance, reinsurance, and pension fund sector ~~seeing~~ saw the highest growth in value added at 89.7 percent. ~~Further analysis~~ Analysis of the savings finance sector shows transaction volumes rising by 261.8 percent to 1.211 trillion lira. ~~This growth is characterized~~ The ‘Participation Finance Ecosystem Report 2025’ by the Islamic Economics Research Center (IKAM) notes a transition toward a multi-dimensional ecosystem, with savings finance companies providing interest-free financing for housing and vehicles. Total assets in this sector grew by 251.1 percent to 323 billion lira, while net profits increased to 59 billion lira. Participation banks also expanded, with total assets reaching 4.3 trillion lira. While physical branches and ATMs are decreasing, digital transaction volume rose by 41 percent to 7.9 trillion lira. However, as of October 16, the banking sector reported mixed trends: total credit volume reached 28.678 trillion lira and deposits rose to 33.108 trillion lira, but consumer loans and individual credit card receivables saw decreases. Additionally, the Central Bank of the Republic of Türkiye reported that the Financial Services Confidence Index fell by 3.2 points to 155.2 in October, as assessments regarding current business conditions and employment showed signs of weakening.

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