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Turkish (BIST) Banks Industry Analysis

UpdatedJan 13, 2026
DataAggregated Company Financials
Companies10
  • 7D6.8%
  • 3M16.5%
  • 1Y44.5%
  • YTD7.0%

The Banks industry is up 3.7% in the last week, with QNB Bank up 11%. In the last 12 months, the industry was up 40%. As for the next few years, earnings are expected to grow by 35% per annum.

Industry Valuation and Performance

Has the Turkish Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 13 Jan 2026₺4.3t₺1.6t₺401.7b7.1x10.8x2.7x
Thu, 11 Dec 2025₺4.0t₺1.6t₺401.7b6.8x10x2.5x
Sat, 08 Nov 2025₺3.8t₺1.6t₺393.1b6.4x9.8x2.4x
Mon, 06 Oct 2025₺3.8t₺1.5t₺355.3b7.2x10.6x2.5x
Wed, 03 Sep 2025₺4.7t₺1.5t₺355.3b7.6x13.2x3.2x
Fri, 01 Aug 2025₺4.1t₺1.4t₺336.5b8.1x12.1x2.9x
Sun, 29 Jun 2025₺2.9t₺1.4t₺333.1b7x8.7x2.1x
Tue, 27 May 2025₺2.7t₺1.4t₺333.1b6.3x8.2x2x
Thu, 24 Apr 2025₺2.6t₺1.3t₺308.2b5.8x8.6x2.1x
Sat, 22 Mar 2025₺3.1t₺1.3t₺308.2b6x9.9x2.4x
Mon, 17 Feb 2025₺3.0t₺1.2t₺323.8b7.1x9.2x2.5x
Wed, 15 Jan 2025₺3.0t₺1.1t₺352.9b6.1x8.6x2.7x
Fri, 13 Dec 2024₺3.0t₺1.1t₺356.1b5.9x8.5x2.7x
Sun, 10 Nov 2024₺2.8t₺1.1t₺356.6b5x7.7x2.4x
Tue, 08 Oct 2024₺2.9t₺1.2t₺400.0b4.8x7.2x2.5x
Thu, 05 Sep 2024₺3.2t₺1.2t₺400.0b4.9x7.9x2.7x
Sat, 03 Aug 2024₺3.1t₺1.1t₺406.4b5.3x7.5x2.7x
Mon, 01 Jul 2024₺3.2t₺1.1t₺416.2b5.4x7.7x2.9x
Wed, 29 May 2024₺3.3t₺1.1t₺419.3b5.4x7.8x2.9x
Fri, 26 Apr 2024₺2.8t₺1.1t₺398.6b4.5x7.1x2.6x
Sun, 24 Mar 2024₺2.5t₺1.0t₺436.5b3.6x5.6x2.4x
Tue, 20 Feb 2024₺2.3t₺1.0t₺439.5b3.2x5.2x2.2x
Thu, 18 Jan 2024₺2.2t₺1.0t₺428.0b3.5x5.2x2.2x
Sat, 16 Dec 2023₺2.0t₺1.0t₺428.0b3.4x4.7x2x
Mon, 13 Nov 2023₺2.3t₺1.0t₺427.1b4.5x5.4x2.3x
Wed, 11 Oct 2023₺2.4t₺909.8b₺383.9b4.3x6.1x2.6x
Fri, 08 Sep 2023₺1.6t₺909.8b₺383.9b3.7x4.2x1.8x
Sun, 06 Aug 2023₺1.2t₺857.5b₺379.1b2.9x3.1x1.4x
Tue, 04 Jul 2023₺948.6b₺821.9b₺364.9b2.5x2.6x1.2x
Thu, 01 Jun 2023₺804.7b₺821.1b₺364.6b2.1x2.2x1x
Sat, 29 Apr 2023₺775.0b₺735.0b₺341.2b2.1x2.3x1.1x
Mon, 27 Mar 2023₺790.5b₺727.7b₺338.5b2.3x2.3x1.1x
Wed, 22 Feb 2023₺721.8b₺667.2b₺315.9b3.2x2.3x1.1x
Fri, 20 Jan 2023₺798.8b₺558.8b₺247.8b3.6x3.2x1.4x
Price to Earnings Ratio

3.2x


Total Market Cap: ₺798.8bTotal Earnings: ₺247.8bTotal Revenue: ₺558.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish Banks Industry Price to Earnings3Y Average 6.9x202420252026
Current Industry PE
  • Investors are optimistic on the Turkish Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 10.5x which is higher than its 3-year average PE of 6.9x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 17% per year over the last three years.
  • Revenues for these companies have grown 43% 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 industry?

TR Market4.95%
Financials6.63%
Banks6.85%
Diversified Banks6.85%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 6.9x.
    • Analysts are expecting annual earnings growth of 34.7%, which is higher than its past year's earnings growth of 13.6% per year.
  • Investors are most pessimistic about the Diversified Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 6.9x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings growth rate of 14% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 35% 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
QNBTR QNB Bank₺530.0019.1%
+₺284.8b		96.1%PB11.6x
HALKB Türkiye Halk Bankasi₺41.042.6%
+₺7.5b		143.0%PB1.5x
SAHOL Haci Ömer Sabanci Holding₺93.102.7%
+₺5.1b		-4.1%PB0.6x
AKBNK Akbank T.A.S₺73.500.4%
+₺1.6b		17.0%PB1.4x
ISCTR Türkiye Is Bankasi₺14.450.4%
+₺1.5b		2.2%PB0.9x

Latest News

QNBTR
₺530.00
QNB Bank
7D
19.1%
1Y
96.1%
VAKBN
₺32.42
Türkiye Vakiflar Bankasi Türk Anonim Ortakligi
7D
-0.8%
1Y
38.2%
YKBNK
₺37.26
Yapi ve Kredi Bankasi
7D
-2.6%
1Y
24.8%

YKBNK: Lower Growth And Margin Assumptions Will Pressure Future Earnings Quality

Analysts have trimmed their fair value estimate for Yapi ve Kredi Bankasi from ₺29.70 to ₺29.31. This reflects updated assumptions for revenue growth, profit margins and a higher forward P/E multiple in their price target models.
GARAN
₺145.60
Turkiye Garanti Bankasi
7D
-1.8%
1Y
14.3%

GARAN: Lower Risk Assumptions And Stronger Margins Will Support Future Upside

Analysts have raised their price target for Turkiye Garanti Bankasi, describing the roughly 3% increase as supported by slightly lower discount rate assumptions, marginally firmer revenue growth and profit margin inputs, and a small adjustment to future P/E expectations. Valuation Changes Fair Value: The updated estimate has moved from TRY 173.23 to TRY 178.45, reflecting a small uplift in the implied valuation.
HALKB
₺41.04
Türkiye Halk Bankasi
7D
2.6%
1Y
143.0%

HALKB: Elevated Risk And Lower Revenue Outlook Will Likely Restrict Upside

Analysts have trimmed their fair value estimate for Türkiye Halk Bankasi from ₺31.16 to ₺30.66, citing revisions to projected revenue growth, profit margins and future P/E assumptions as key drivers behind the updated price target. Valuation Changes Fair Value Estimate: Trimmed slightly from ₺31.16 to ₺30.66 per share.
ISCTR
₺14.45
Türkiye Is Bankasi
7D
0.4%
1Y
2.2%

ISCTR: Higher Future Multiple Is Expected To Drive Share Price Upside

Narrative Update on Analyst Price Target Analysts have raised their fair value estimate for Türkiye Is Bankasi from TRY 21.47 to TRY 22.90. This reflects a modestly higher discount rate, tempered expectations for revenue growth and profit margins, and a rerating to a richer future P/E multiple.
AKBNK
₺73.50
Akbank T.A.S
7D
0.4%
1Y
17.0%

AKBNK: Stronger Profit Margins Will Support Further Upside Potential

Analysts have nudged their price target for Akbank T.A.S. marginally higher, citing a slightly richer fair value estimate of approximately 88.73 Turkish lira. This is supported by improved profit margin expectations that more than offset moderated revenue growth assumptions and a modestly higher future P/E multiple.
SAHOL
₺93.10
Haci Ömer Sabanci Holding
7D
2.7%
1Y
-4.1%

SAHOL: Portfolio Reshaping And Divestitures Will Support Higher Future Returns

Analysts have nudged their fair value estimate for Haci Ömer Sabanci Holding higher, raising the implied price target by approximately ₺7.44 as they factor in slightly stronger revenue growth, improving profit margins, and a lower expected future P/E multiple, despite a modest uptick in the discount rate. Analyst Commentary Recent Street commentary around Haci Ömer Sabanci Holding underscores a market divided between those focusing on the upside from operational execution and those highlighting macro and sector level uncertainties that could cap near term returns.
ICBCT
₺14.04
ICBC Turkey Bank
7D
3.6%
1Y
-4.6%
ALBRK
₺8.11
Albaraka Türk Katilim Bankasi
7D
-0.6%
1Y
21.6%
SKBNK
₺7.75
Sekerbank T.A.S
7D
-0.5%
1Y
41.7%