As much of the rest of the world's financial system was being tested throughout the past year, Turkey's banks performed well and proved sheltered from the financial crisis. They are highly capitalised and mostly profitable - and of all the Turkish banks in The Banker's Top 1000 World Banks ranking, not one has made a loss in the past year.
Much of their success derives from the fact that the Turkish banking system took its medicine in 2001, when the country went through one of the worst financial and economic crises in its history. In the wake of the crisis, Turkey took bold steps to create a strong and resilient banking system.
