Best bank: Isbank
The 100th anniversary of Isbank, Turkey’s biggest private-sector lender, has come after some challenging years for the country's economy and financial sector.
AfE 2024
The bank has been doing well despite the challenging environment, evident in a cost-to-income ratio of 38.2%. Already Turkey’s largest private-sector deposit-taker, it is aiming to grow loans and fees faster than peers, as chief executive Hakan Aran sees a chance for private-sector lenders to regain share from public-sector banks. Its asset quality also appears as good as ever. The bank ended 2023 with a non-performing loan ratio of just 2.1%.
While managing the present, Isbank has also been focusing on the future. One aspect of that is its move towards a holding-company model and to restructure its subsidiaries, which already include 10 listed companies, the largest of which is multinational glass manufacturer Sisecam, and the newest of which is Enerji, a renewable energy company.