Turkish banks topped the corporate tax champion list in 2012. There were seven banks, plus the Central Bank, in the first 10 list, as declared by Revenue Administration of Turkey. Eleven banks were in the top 20 of the 2012 list while 23 banks in the first 100.
Garanti Bank, was the top corporate tax payer of Turkey in 2012, paying 1.18 billion Turkish Liras in taxes. It was followed by the İşbank and Akbank with 1.15 billion and 1.11 billion liras, respectively.
ADFIMI Members Ziraat Bank, Halk Bank and Vakifbank ranked fourth, fifth and ninth respectively, paying 1.1 billion, just over 1 billion and 509 million liras. The Turkish Central Bank, the champion of the year 2011, ranked seventh in the 2012 list with 743 million. TSKB, another ADFIMI Member ranked 26th.
The Turkish banking sector’s net profit jumped 16.3 percent year-on-year to 6.95 billion liras (around $3.9 billion) in the first quarter of 2013, Turkish banking regulator BDDK announced in May. The sector’s loans rose 4.9 percent to 833.5 billion liras during the same period.