Turkey is a founding member of the OECD and G20. The country's economy ranked as the 18th-largest in the world and 8th-largest in Europe by nominal GDP in 2023. It also ranked as the 11th-largest in the world and 5th-largest in Europe by PPP in 2023. As of 2024, Turkey is a developing, upper-middle income, mixed economy. Turkey has often been defined as a newly industrialized country since the turn of the 21st century. The country is the fifth most visited destination in the world, and has over 1,500 R&D centres established both by multinational and national firms. Turkey is among the world's leading producers of agricultural products, textiles, motor vehicles, transportation equipment, construction materials, consumer electronics, and home appliances. Among OECD nations, Turkey has a highly efficient and strong social security system; social expenditure stood at roughly 12.5% of GDP.
Mediobanca is an Italian investment bank founded in 1946 at the initiative of Raffaele Mattioli and Enrico Cuccia to facilitate the post-World War II reconstruction of Italian industry. Cuccia led Mediobanca from 1946 to 1982. Today, it is an international banking group with offices in Milan, Frankfurt, London, Madrid, Luxembourg, New York and Paris.
The Borsa İstanbul is the sole exchange entity of Turkey combining the former Istanbul Stock Exchange (ISE), the Istanbul Gold Exchange and the Derivatives Exchange of Turkey under one umbrella. It was established as an incorporated company with a founding capital of ₺423,234,000 on April 3, 2013, and began to operate on April 5, 2013. Its slogan is worth investing.
Doğuş Holding A.Ş. is one of the largest private-sector conglomerates in Turkey, with a portfolio of 250 companies in 7 industries, including high-end car dealerships, retail stores, restaurants, cafés, construction companies, radio stations, TV channels and tourism businesses. The group used to own one of Turkey's largest private banks, Garanti, now part of BBVA.[citation needed]
Garanti BBVA is a Turkish financial services company based in Turkey. 86% of Garanti's stakes are owned by the Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA).
Akbank T.A.Ş. is one of the largest banks in Turkey. Founded in 1948, As of 2022, Akbank reported a consolidated net profit of TL 60 billion 26 million. Listed on the Borsa Istanbul, its largest shareholders are members of the Sabancı family. Akbank serves in the fields of corporate and investment banking, commercial banking, SME banking, consumer banking, payment systems, private banking, investment services and treasury transactions.
İşbank, officially Türkiye İş Bankası, is a commercial bank in Turkey. Founded by the orders of Mustafa Kemal Atatürk in 1924, it is the first bank to go into operation in the Republic of Türkiye.
Nazım Ekren is a Turkish academic and politician who was the Deputy Prime Minister of Turkey responsible for economic affairs from 2007 until 2009.
Burhan Karagöz was a Turkish businessman. He was chair of Anadolu Sigorta A.S., biggest insurance company in Turkey. He worked 48 years at Isbank, largest private bank in Turkey; of which last 20 years were at top level as CEO, board member, and chairman, thus became one of the influential figures in Turkish economy in the last quarter of the 20th century.
Bank Asya was established in October 24, 1996 with its head office in Istanbul, as the sixth private finance house of Turkey. Bank Asya opened its first branch in Altunizade, Istanbul on 24 October 1996. The opening ceremony was held with an official ceremony and was attended by then Deputy Prime Minister Tansu Çiller, State Minister Abdullah Gül, Istanbul Metropolitan Mayor Recep Tayyip Erdoğan, and İhsan Kalkavan, Chairman of the Board of Directors of Asya Finans. The company's name, which had been previously "Asya Finans Kurumu Anonim Şirketi", was changed into "Asya Katilim Bankasi Anonim Şirketi" on December 20, 2005.
İş Yatırım Menkul Değerler A.Ş. is the investment bank arm of İşbank, the largest privately owned bank in Turkey. İş Investment had assets totaling 8.8 billion Turkish Lira in 2020.
Halit Cıngıllıoğlu is a London and Monaco-based industrialist who was born in Turkey.
Nurol Holding is an industrial conglomerate in Turkey operating in the construction, defence manufacturing, energy, investment banking and tourism industries. Its core business is construction; Nurol Construction was founded in 1966. It is privately owned, with equal shares held by three members of the Çarmıklı family. The Holding was established in 1989.
Akfen Holding is an infrastructure focused conglomerate based in Turkey, founded in 1976 by Hamdi Akın and earned its status as a holding company in 1999.
The European Long-Term Investors Association (ELTI) is a trade association that represent a European-wide network of development banks or National Promotional Banks and Institutions (NPBIs).
Mahmut L. Ünlü is a Turkish business executive and entrepreneur. Mahmut L. Ünlü who established ÜNLÜ & Co, is currently acting as the chairman and CEO of the company.
The Turkey Wealth Fund is a $33 billion sovereign wealth fund founded in August 2016 and owned by the Government of Turkey. The fund is operated with a "Strategic Investment Plan", which was approved by the Cabinet. Companies and assets formerly owned by state institutions shall be eligible to be transferred to the fund and sub-funds shall be able to be created if viewed appropriately.
Ruhsar Pekcan is a politician and electrical engineer who served as the Minister of Trade of Turkey between 2018 and 2021.
Şahap Kavcıoğlu is a Turkish banker and politician. He was a Member of the Grand National Assembly of Turkey for the Justice and Development Party (AKP) and was the Governor of the Central Bank of the Republic of Turkey from 2021 to 2023. He is also a contributor to the newspaper Yeni Safak and is described as a supporter of the economic policies of Recep Tayyip Erdoğan.
₺198.7 billion (2024)