The Turkish financial sector was not affected by the global financial chaos of 2008 and the subsequent economic crisis, thanks to the regulatory and structural reforms and overhaul that the government implemented in the wake of the country’s financial crisis in the early 2000s. These reforms in the sector boosted investor confidence so much that financial services have become the preferred sector for foreign direct investment, attracting US$48 trillion over the last 14 years.
The banking sector dominates the Turkish financial sector, accounting for more than 70% of financial services, while insurance services and other financial activities have also shown significant growth.
There are currently 53 banks in Turkey (34 deposit banks, 13 development and investment banks, 6 participation banks). Of these, 21 have foreign capital.
Turkey’s young and qualified population, the rapid development of financial markets and the key geostrategic location, make Istanbul an ideal candidate to be one of the most important international financial centers. With the government’s push to turn Istanbul into a global financial center, the city has progressed rapidly and is now considered a key place in this sector.
Since 2011 CONEXIO has provided security and experience in Turkey at the service of companies, introducing products to the Turkish market, developing investment projects, connecting companies with 85 million customers and boosting their success.
For more information about this sector, do not hesitate to contact us.