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Turkish (BIST) Financials Sector Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies74
  • 7D-1.0%
  • 3M1.8%
  • 1Y37.6%
  • YTD36.7%

Over the last 7 days, the Financials industry has dropped 1.0%, driven by QNB Bank declining 3.6%. On the other hand Türkiye Halk Bankasi is actually up 7.8%. Over the past 12 months, the industry was up 40%. Looking forward, earnings are forecast to grow by 36% annually.

Sector Valuation and Performance

Has the Turkish Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025₺5.4t₺4.1t₺547.6b7.7x9.9x1.3x
Fri, 21 Nov 2025₺5.5t₺4.1t₺546.0b7.7x10.1x1.3x
Sun, 19 Oct 2025₺5.1t₺3.4t₺462.6b7.1x11x1.5x
Tue, 16 Sep 2025₺5.4t₺3.4t₺462.1b7.9x11.7x1.6x
Thu, 14 Aug 2025₺6.3t₺3.1t₺437.3b8.5x14.4x2x
Sat, 12 Jul 2025₺4.2t₺3.0t₺413.6b7.7x10.2x1.4x
Mon, 09 Jun 2025₺3.6t₺3.0t₺414.0b6.9x8.7x1.2x
Wed, 07 May 2025₺3.4t₺3.0t₺382.8b7.7x8.8x1.1x
Fri, 04 Apr 2025₺3.7t₺2.9t₺374.9b7x10x1.3x
Sun, 02 Mar 2025₺3.9t₺2.5t₺400.8b8x9.7x1.6x
Tue, 28 Jan 2025₺4.0t₺2.3t₺419.8b7.1x9.5x1.7x
Thu, 26 Dec 2024₺3.8t₺2.3t₺419.8b6.8x9.1x1.6x
Sat, 23 Nov 2024₺3.8t₺2.3t₺418.8b6.2x9.1x1.6x
Mon, 21 Oct 2024₺3.5t₺2.3t₺466.0b7.3x7.6x1.6x
Wed, 18 Sep 2024₺3.9t₺2.2t₺472.0b7.9x8.2x1.8x
Fri, 16 Aug 2024₺3.7t₺2.2t₺487.7b8.3x7.6x1.7x
Sun, 14 Jul 2024₺4.1t₺2.1t₺481.9b8.7x8.6x1.9x
Tue, 11 Jun 2024₺3.9t₺2.1t₺481.4b9x8x1.9x
Thu, 09 May 2024₺4.1t₺2.0t₺475.6b8.4x8.6x2x
Sat, 06 Apr 2024₺3.5t₺2.0t₺462.9b7.5x7.5x1.8x
Mon, 04 Mar 2024₺3.2t₺1.8t₺520.0b7x6.2x1.8x
Wed, 31 Jan 2024₺2.9t₺1.7t₺521.1b6.4x5.5x1.7x
Fri, 29 Dec 2023₺2.7t₺1.7t₺508.7b5.3x5.4x1.6x
Sun, 26 Nov 2023₺2.9t₺1.7t₺505.1b6.3x5.6x1.7x
Tue, 24 Oct 2023₺3.1t₺1.5t₺441.1b7.8x7.1x2.1x
Thu, 21 Sep 2023₺2.3t₺1.5t₺436.4b7.7x5.4x1.6x
Sat, 19 Aug 2023₺1.7t₺1.5t₺436.0b7.1x3.9x1.1x
Mon, 17 Jul 2023₺1.4t₺1.4t₺404.0b6.7x3.4x1x
Wed, 14 Jun 2023₺1.1t₺1.3t₺403.2b5.5x2.8x0.8x
Fri, 12 May 2023₺1.1t₺1.3t₺398.7b4.8x2.7x0.8x
Sun, 09 Apr 2023₺965.8b₺1.2t₺380.6b4.8x2.5x0.8x
Tue, 07 Mar 2023₺1.0t₺1.2t₺378.7b5.9x2.7x0.9x
Thu, 02 Feb 2023₺895.0b₺979.5b₺278.4b7.8x3.2x0.9x
Sat, 31 Dec 2022₺1.1t₺965.8b₺273.2b9.7x4.2x1.2x
Price to Earnings Ratio

4.2x


Total Market Cap: ₺1.1tTotal Earnings: ₺273.2bTotal Revenue: ₺965.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish Financials Sector Price to Earnings3Y Average 7.5x202320242025
Current Industry PE
  • Investors are optimistic on the Turkish Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 10.0x which is higher than its 3-year average PE of 7.5x.
  • The 3-year average PS ratio of 1.5x is higher than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 26% per year over the last three years.
  • Revenues for these companies have grown 61% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Turkish Financials sector?

TR Market-0.28%
Financials-1.01%
Consumer Finance16.32%
Diversified Financial0.80%
Insurance0.014%
Banks-0.29%
Capital Markets-9.36%
Industry PE
  • Investors are most optimistic about the Diversified Financial industry even though it's trading below its 3-year average PE ratio of 15.4x.
    • Analysts are expecting annual earnings growth of 23.4%, which is lower than the prior year's growth of 38.1% per year.
  • Investors are most pessimistic about the Consumer Finance industry, which is trading below its 3-year average of 11.7x.
Forecasted Growth
  • Analysts are most optimistic on the Banks industry, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Diversified Financial industry is expected to see its earnings grow by 23% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
HALKB Türkiye Halk Bankasi₺37.487.8%
+₺19.5b		131.8%PB1.4x
VAKBN Türkiye Vakiflar Bankasi Türk Anonim Ortakligi₺30.925.5%
+₺15.9b		34.8%PB1.1x
DSTKF Destek Finans Faktoring₺567.006.3%
+₺11.2b		n/aPE59.4x
GARAN Turkiye Garanti Bankasi₺142.301.9%
+₺10.9b		12.5%PB1.5x
KTLEV Katilimevim Tasarruf Finansman Anonim Sirketi₺19.8416.8%
+₺5.9b		311.1%PE6.6x

Latest News

VERUS
₺279.00
Verusa Holding
7D
16.3%
1Y
7.2%
TERA
₺266.25
Tera Yatirim Menkul Degerler
7D
-17.8%
1Y
3,593.3%
KTLEV
₺19.84
Katilimevim Tasarruf Finansman Anonim Sirketi
7D
16.8%
1Y
311.1%
AKBNK
₺71.95
Akbank T.A.S
7D
0.9%
1Y
19.4%

AKBNK: Higher Margins May Not Offset Risk From Compressed Earnings Multiple

Analysts have raised their price target for Akbank T.A.S., citing improved profit margin expectations and a more attractive forward P/E multiple, resulting in an upward revision in fair value from approximately 56.0 to about 64.5. Valuation Changes Fair Value: Raised from approximately TRY 56.0 to about TRY 64.5, reflecting a moderate upward revision in the bank's estimated intrinsic value. Discount Rate: Increased slightly from around 32.17 percent to roughly 32.50 percent, indicating a marginally higher required return by investors.
GARAN
₺142.30
Turkiye Garanti Bankasi
7D
1.9%
1Y
12.5%

GARAN: Future Margin Expansion And Lower Earnings Multiple Will Drive Upside

Analysts have modestly trimmed their price target on Turkiye Garanti Bankasi from approximately ₺209 to ₺205, reflecting a slightly higher perceived risk. At the same time, they are factoring in stronger expected revenue growth, expanding profit margins, and a lower future P/E valuation multiple.
VAKBN
₺30.92
Türkiye Vakiflar Bankasi Türk Anonim Ortakligi
7D
5.5%
1Y
34.8%

VAKBN: Stable Margins And Revenue Outlook Will Support Future Upside

Analysts have nudged their fair value estimate for Türkiye Vakiflar Bankasi Türk Anonim Ortakligi slightly lower, from approximately $34.80 to $34.62. They cited a marginally higher perceived discount rate while leaving their revenue growth, profit margin, and future P E assumptions largely intact.
HALKB
₺37.48
Türkiye Halk Bankasi
7D
7.8%
1Y
131.8%

HALKB: Elevated Risk And Low Earnings Visibility Will Likely Restrain Upside

Analysts have nudged their price target on Türkiye Halk Bankasi slightly higher to reflect a modestly lower perceived risk and marginally improved future earnings visibility, while maintaining a broadly unchanged fair value estimate at ₺31.16 per share. Valuation Changes Fair Value Estimate remains unchanged at approximately TRY 31.16 per share, indicating no material reassessment of intrinsic value.
SMRVA
₺177.00
Sumer Varlik Yonetim
7D
-38.2%
1Y
590.9%
DSTKF
₺567.00
Destek Finans Faktoring
7D
6.3%
1Y
n/a
SAHOL
₺82.75
Haci Ömer Sabanci Holding
7D
-3.4%
1Y
-12.4%
AGESA
₺223.00
AgeSA Hayat ve Emeklilik Anonim Sirketi
7D
7.4%
1Y
46.7%
RAYSG
₺223.30
Ray Sigorta Anonim Sirketi
7D
-3.3%
1Y
-55.7%
QNBTR
₺446.00
QNB Bank
7D
-3.6%
1Y
68.3%
KLNMA
₺10.44
Türkiye Kalkinma ve Yatirim Bankasi
7D
-2.4%
1Y
-24.2%
TURSG
₺12.60
Türkiye Sigorta
7D
-1.6%
1Y
61.5%
ISMEN
₺40.18
Is Yatirim Menkul Degerler Anonim Sirketi
7D
-2.0%
1Y
-8.3%