Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
Presentation (correction slide 18) - Dexia.com
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Strong local players <strong>com</strong>pete with subsidiaries of<br />
international groups<br />
Turkish banking market as of end 2009 1<br />
Seven well-established banks<br />
<strong>com</strong>pose Tier 1<br />
• Best-in-class banks: Isbank,<br />
Garanti and Akbank<br />
• Other players: three state<br />
banks (Ziraat, Halk and Vakif)<br />
and one 50/50 JV (Yapi Kredi)<br />
Six middle-sized banks make the<br />
2 nd Tier<br />
• Mainly JVs or foreign banks<br />
subsidiaries<br />
• Deniz leading the group in<br />
terms of profitability<br />
• Fierce <strong>com</strong>petition anticipated<br />
Other players already<br />
marginalized<br />
State banks Tier 1 Tier 2<br />
135<br />
Note: (1) Consolidated figures<br />
Source: BRSA, FINTURK
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