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Turkish (BIST) Banks Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies10
  • 7D-0.3%
  • 3M0.6%
  • 1Y36.0%
  • YTD30.4%

Last week, the Banks industry hasn't moved much but Türkiye Halk Bankasi is up 7.8% in that time. The past year has been better, since the industry has gained 38% in that time. Earnings are forecast to grow by 36% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025₺4.0t₺1.6t₺401.7b7x9.9x2.4x
Fri, 21 Nov 2025₺3.9t₺1.6t₺401.7b6.5x9.7x2.4x
Sun, 19 Oct 2025₺3.7t₺1.5t₺355.3b6.4x10.4x2.5x
Tue, 16 Sep 2025₺4.1t₺1.5t₺355.3b7.9x11.5x2.8x
Thu, 14 Aug 2025₺5.0t₺1.5t₺351.2b8x14.4x3.4x
Sat, 12 Jul 2025₺3.3t₺1.4t₺333.1b8.4x10x2.4x
Mon, 09 Jun 2025₺2.8t₺1.4t₺333.1b6.5x8.4x2x
Wed, 07 May 2025₺2.6t₺1.3t₺313.9b5.6x8.2x2x
Fri, 04 Apr 2025₺2.9t₺1.3t₺308.2b6.4x9.5x2.3x
Sun, 02 Mar 2025₺3.1t₺1.2t₺325.3b7.3x9.6x2.6x
Tue, 28 Jan 2025₺3.1t₺1.1t₺356.1b6.4x8.8x2.8x
Thu, 26 Dec 2024₺3.0t₺1.1t₺356.1b6x8.5x2.7x
Sat, 23 Nov 2024₺3.0t₺1.1t₺356.1b5.7x8.4x2.6x
Mon, 21 Oct 2024₺2.7t₺1.2t₺400.0b4.4x6.9x2.4x
Wed, 18 Sep 2024₺3.0t₺1.2t₺400.0b4.6x7.6x2.6x
Fri, 16 Aug 2024₺2.8t₺1.2t₺416.1b4.9x6.8x2.4x
Sun, 14 Jul 2024₺3.3t₺1.1t₺416.2b5.8x8x2.9x
Tue, 11 Jun 2024₺3.0t₺1.1t₺416.2b5.2x7.3x2.7x
Thu, 09 May 2024₺3.2t₺1.1t₺405.3b4.7x7.9x2.9x
Sat, 06 Apr 2024₺2.6t₺1.1t₺398.6b4.4x6.6x2.5x
Mon, 04 Mar 2024₺2.4t₺1.0t₺436.3b3.2x5.6x2.3x
Wed, 31 Jan 2024₺2.2t₺1.0t₺440.2b3.4x5.1x2.2x
Fri, 29 Dec 2023₺2.2t₺1.0t₺428.0b3x5.1x2.1x
Sun, 26 Nov 2023₺2.2t₺1.0t₺428.0b2.8x5.2x2.2x
Tue, 24 Oct 2023₺2.5t₺909.8b₺383.9b3.8x6.5x2.7x
Thu, 21 Sep 2023₺1.9t₺909.8b₺383.9b3.7x4.8x2x
Sat, 19 Aug 2023₺1.3t₺908.6b₺383.5b3x3.4x1.4x
Mon, 17 Jul 2023₺1.1t₺822.0b₺364.9b2.7x2.9x1.3x
Wed, 14 Jun 2023₺870.4b₺821.1b₺364.6b2.3x2.4x1.1x
Fri, 12 May 2023₺872.4b₺794.3b₺360.0b2.3x2.4x1.1x
Sun, 09 Apr 2023₺746.3b₺727.7b₺338.5b2.2x2.2x1x
Tue, 07 Mar 2023₺807.6b₺722.1b₺338.2b2.5x2.4x1.1x
Thu, 02 Feb 2023₺699.0b₺570.6b₺252.2b3.1x2.8x1.2x
Sat, 31 Dec 2022₺904.8b₺558.8b₺247.8b3.9x3.7x1.6x
Price to Earnings Ratio

3.7x


Total Market Cap: ₺904.8bTotal Earnings: ₺247.8bTotal Revenue: ₺558.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish Banks Industry Price to Earnings3Y Average 6.8x202320242025
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 9.9x which is higher than its 3-year average PE of 6.8x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.5x.
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 Market-0.28%
Financials-1.01%
Banks-0.29%
Diversified Banks-0.29%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 6.8x.
    • Analysts are expecting annual earnings growth of 36.1%, 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 6.8x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified 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 Banks industry is expected to see its earnings grow by 36% 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
GARAN Turkiye Garanti Bankasi₺142.301.9%
+₺10.9b		12.5%PB1.5x
AKBNK Akbank T.A.S₺71.950.9%
+₺3.4b		19.4%PB1.3x
YKBNK Yapi ve Kredi Bankasi₺36.740.2%
+₺506.8m		29.3%PB1.3x

Latest News

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.
ISCTR
₺13.89
Türkiye Is Bankasi
7D
0.07%
1Y
6.5%

ISCTR: Higher Revenue Outlook Will Offset Margin Pressure And Support Fair Pricing

Analysts have raised their price target for Türkiye Is Bankasi from approximately TRY 13.00 to about TRY 13.92, citing stronger projected revenue growth that more than offsets slightly lower expected profit margins and a modestly higher discount rate. Valuation Changes The fair value estimate increased modestly from TRY 13.00 to approximately TRY 13.92, reflecting higher projected earnings power.
YKBNK
₺36.74
Yapi ve Kredi Bankasi
7D
0.2%
1Y
29.3%

YKBNK: Future Returns Will Benefit From Stronger Revenue Outlook

Analysts have nudged their price target for Yapi ve Kredi Bankasi modestly higher to an updated fair value of 41.97. This reflects slightly stronger revenue growth expectations and a marginally lower discount rate, which more than offset a small compression in forecast profit margins and a higher projected future P/E multiple.
ICBCT
₺13.33
ICBC Turkey Bank
7D
-2.1%
1Y
-3.8%
ALBRK
₺8.07
Albaraka Türk Katilim Bankasi
7D
-3.1%
1Y
31.2%
SAHOL
₺82.75
Haci Ömer Sabanci Holding
7D
-3.4%
1Y
-12.4%
SKBNK
₺7.78
Sekerbank T.A.S
7D
-0.3%
1Y
61.4%
QNBTR
₺446.00
QNB Bank
7D
-3.6%
1Y
68.3%