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Turkish (BIST) Banks Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies10
  • 7D-2.7%
  • 3M2.6%
  • 1Y26.8%
  • YTD-1.6%

Over the last 7 days, the Banks industry has risen 1.7%, driven by gains from QNB Bank of 2.8%. Meanwhile, Turkiye Garanti Bankasi actually underperformed within the industry, shrinking 6.1% in the last week. This takes the industry's 12 month performance to a gain of 36%. Looking forward, earnings are forecast to grow by 34% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026₺4.0t₺1.9t₺455.7b6.2x8.7x2.1x
Fri, 20 Feb 2026₺4.4t₺1.8t₺450.5b7.4x9.8x2.5x
Sun, 18 Jan 2026₺4.1t₺1.6t₺401.7b6.9x10.2x2.5x
Tue, 16 Dec 2025₺4.0t₺1.6t₺401.7b7x10x2.5x
Thu, 13 Nov 2025₺3.7t₺1.6t₺401.7b6.1x9.3x2.3x
Sat, 11 Oct 2025₺4.1t₺1.5t₺355.3b6.6x11.6x2.8x
Mon, 08 Sep 2025₺3.8t₺1.5t₺355.3b7.4x10.7x2.6x
Wed, 06 Aug 2025₺4.7t₺1.4t₺346.7b8x13.5x3.3x
Fri, 04 Jul 2025₺3.2t₺1.4t₺333.1b7.9x9.7x2.4x
Sun, 01 Jun 2025₺2.7t₺1.4t₺333.1b6.1x8x1.9x
Tue, 29 Apr 2025₺2.6t₺1.3t₺309.8b5.7x8.4x2x
Thu, 27 Mar 2025₺3.1t₺1.3t₺308.2b6.6x10.1x2.4x
Sat, 22 Feb 2025₺3.1t₺1.2t₺324.7b7.1x9.4x2.5x
Mon, 20 Jan 2025₺3.1t₺1.1t₺356.1b6.2x8.8x2.8x
Wed, 18 Dec 2024₺3.0t₺1.1t₺356.1b5.9x8.5x2.7x
Fri, 15 Nov 2024₺2.9t₺1.1t₺356.6b5.4x8.1x2.6x
Sun, 13 Oct 2024₺2.9t₺1.2t₺400.0b4.5x7.3x2.5x
Tue, 10 Sep 2024₺3.1t₺1.2t₺400.0b4.6x7.8x2.7x
Thu, 08 Aug 2024₺2.9t₺1.1t₺406.5b4.9x7.1x2.5x
Sat, 06 Jul 2024₺3.3t₺1.1t₺416.2b5.5x7.9x2.9x
Mon, 03 Jun 2024₺3.2t₺1.1t₺419.3b5.5x7.7x2.8x
Wed, 01 May 2024₺3.0t₺1.1t₺405.2b4.7x7.5x2.8x
Fri, 29 Mar 2024₺2.5t₺1.0t₺436.5b3.7x5.7x2.4x
Sun, 25 Feb 2024₺2.3t₺1.0t₺436.5b3.4x5.3x2.2x
Tue, 23 Jan 2024₺2.2t₺1.0t₺428.0b3.4x5.2x2.2x
Thu, 21 Dec 2023₺2.2t₺1.0t₺428.0b3.4x5.3x2.2x
Sat, 18 Nov 2023₺2.2t₺1.0t₺428.0b2.7x5.1x2.1x
Mon, 16 Oct 2023₺2.3t₺909.8b₺383.9b4.1x5.9x2.5x
Wed, 13 Sep 2023₺1.7t₺909.8b₺383.9b3.6x4.4x1.8x
Fri, 11 Aug 2023₺1.3t₺875.3b₺389.2b3x3.3x1.5x
Sun, 09 Jul 2023₺977.3b₺822.0b₺364.9b2.6x2.7x1.2x
Tue, 06 Jun 2023₺885.3b₺821.1b₺364.6b2.3x2.4x1.1x
Thu, 04 May 2023₺754.5b₺764.3b₺358.0b1.9x2.1x1x
Sat, 01 Apr 2023₺762.1b₺727.7b₺338.5b2.3x2.3x1x
Price to Earnings Ratio

2.3x


Total Market Cap: ₺762.1bTotal Earnings: ₺338.5bTotal Revenue: ₺727.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Turkish Banks Industry Price to Earnings3Y Average 7.4x202420252026
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 8.9x which is higher than its 3-year average PE of 7.4x.
  • The industry is trading close to its 3-year average PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 10% per year over the last three years.
  • Revenues for these companies have grown 37% 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-1.05%
Financials-1.36%
Banks-2.69%
Diversified Banks-2.69%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 7.4x.
    • Analysts expect its future annual earnings growth (33.5%) to be largely in line with prior year's earnings growth.
  • 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 7.4x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 34% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 34% 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₺290.002.8%
+₺44.0b		36.0%PB9.2x

Latest News

YKBNK
₺33.34
Yapi ve Kredi Bankasi
7D
-7.3%
1Y
30.6%

YKBNK: Higher Revenue Assumptions Will Support A More Optimistic Outlook

Analysts have raised their TRY-based price target on Yapi ve Kredi Bankasi to TRY 58.3, citing updated assumptions around revenue growth, profit margins, a slightly lower discount rate and a modestly adjusted forward P/E of 7.95x. Valuation Changes Fair Value: TRY 58.3 remains unchanged, indicating no revision to the headline target level.
HALKB
₺38.06
Türkiye Halk Bankasi
7D
-6.0%
1Y
81.1%

HALKB: Higher P/E Expectations Will Likely Keep Fair Value Risks Balanced

Analysts have lifted their fair value estimate for Türkiye Halk Bankasi from TRY 35.47 to TRY 37.97, reflecting updated assumptions on discount rates and a slightly higher forward P/E of 4.75x, while revenue growth and profit margin expectations remain broadly unchanged. Valuation Changes Fair Value: Adjusted from TRY 35.47 to TRY 37.97, representing a modest uplift in the estimated share value.
AKBNK
₺70.30
Akbank T.A.S
7D
-7.3%
1Y
25.5%
GARAN
₺130.00
Turkiye Garanti Bankasi
7D
-6.1%
1Y
9.3%

GARAN: Dividend Outlook And Competition Probe Will Shape Fairly Valued Shares

Analysts have lifted their price target for Turkiye Garanti Bankasi from TRY129.81 to TRY139.85, reflecting updated fair value work that incorporates refreshed assumptions for discount rate, revenue growth, profit margin and future P/E. What's in the News Announced an annual dividend of TRY 5.2669 per share, with payment scheduled for April 9, 2026, ex-date on April 7, 2026, and record date on April 8, 2026 (Key Developments).
ISCTR
₺13.29
Türkiye Is Bankasi
7D
-7.8%
1Y
1.5%

ISCTR: Higher Margins And Upcoming Dividend Are Expected To Support Upside

Analysts have lifted their price target for Türkiye Is Bankasi from TRY 18.86 to TRY 20.84, citing updated assumptions that combine a slightly lower discount rate, adjusted revenue growth expectations, and a higher projected profit margin, alongside a broadly similar forward P/E multiple. What's in the News Türkiye Is Bankasi A.S. declared an annual dividend of TRY 0.5395 per share, with payment scheduled for April 3, 2026 (Key Developments).
VAKBN
₺32.28
Türkiye Vakiflar Bankasi Türk Anonim Ortakligi
7D
-1.4%
1Y
30.7%
SAHOL
₺89.95
Haci Ömer Sabanci Holding
7D
-6.2%
1Y
4.6%

SAHOL: Higher Discount Rate And Payout Policy Will Support Future P/E Confidence

Analysts have updated their TRY-based price target for Haci Ömer Sabanci Holding, keeping fair value around TRY157.41 while adjusting assumptions on the discount rate, revenue growth, profit margins and future P/E to reflect more cautious growth and profitability expectations. Analyst Commentary While the latest fair value estimate for Haci Ömer Sabanci Holding sits around TRY157.41, analyst commentary highlights both supportive and cautious angles behind that number.
QNBTR
₺290.00
QNB Bank
7D
2.8%
1Y
36.0%
SKBNK
₺10.19
Sekerbank T.A.S
7D
-8.2%
1Y
132.6%