The Company Garanti Bank operates in every segment of the banking sector, including corporate, commercial, small and medium-sized entity (SME), retail, and private and investment banking. The company provides a wide range of financial services to its more than 11m customers through an extensive distribution network of 933 domestic branches. Garanti Bank is jointly controlled by Doğuş Holding and…
Continued economic progress in Turkey will require greater private investment in logistics services, which would help local firms enhance their competitiveness in the global marketplace through cost savings and faster order fulfilment. The government also has a key role to play by facilitating the development of transport infrastructure, establishing intermodal connections and issuing reforms that…
The sixth-largest vehicle manufacturer in the EU and the 17th-largest in the world, Turkey is now a major player on the global automotives map. Indeed, within the EU, it is first in light commercial vehicle (LCV) production and second in buses, turning out a total of 1.073m units of all kinds in 2012. Now, the sector faces major challenges, including keeping its output up in the face of decline in…
Composition IST30 is the first exchange-traded fund (ETF) based on the BIST 30 National Index (BIST 30) in Turkey. An ETF is an investment vehicle that combines key features of traditional mutual funds and individual stocks. ETFs represent a variety of securities that track specific indexes, like index mutual funds, but they can be traded on the same trading day. IST30 makes it easy to invest…
On November 5, 2012, Turkey’s financial industry finally received the news that it had been waiting for all year. Fitch, the international ratings agency, had upgraded Turkey’s sovereign credit rating to BBB-, the lowest level within the coveted category known as investment grade. The upgrade had been widely anticipated, but even so it proved to be a powerful trigger. Turkish Eurobonds rallied…
Known all over the world for its carpets and clothes, Turkey has long held a major place in the world textile and ready-to-wear markets. In recent times, however, that status has been challenged by lower-cost Asian producers, obliging the sector to go further upscale, and capitalise on its great structural flexibility in order to beat competitors. In 2012 the ready-to-wear and clothing sector was…
In line with the country’s rising profile as a destination for emerging market investment, Turkey’s capital markets are undergoing a major modernisation. A combination of legal reforms, an expansion of local exchange offerings into more complex instruments, and technological and procedural improvements to facilitate electronic and algorithmic trading are laying the groundwork for future growth. Legal…
The Islamic finance sector in Turkey received a powerful boost in 2012 as the government entered the market with its debut issues of sukuks, the Islamic equivalent of bonds. The successful debuts – one in the domestic market and another in the international Eurobond market – have set the stage for an expected boom in the issuance of sukuks by the government, state-owned companies, the construction…
While much attention has been given to Turkey’s residential projects, especially those falling under its urban transformation plan, the office and retail markets are also displaying increased sophistication. The announcement of the Istanbul Financial Centre (IFC), which aims to create a business district on the Asian side, is sparking investment in offices and mixed-use complexes. Istanbul has seen…
Efforts to position Istanbul as a global aviation centre are gaining momentum, and Turkish Airlines (THY) is helping to lead the way through international network expansion. Equally important, major projects are moving ahead to upgrade the city’s airport infrastructure, which is straining under the pressures of rapidly increasing demand. The most ambitious of these infrastructure projects, by a wide…
