Turkish Banking Sector Research Articles

Careers advancement of women: Applying a multi-level relational perspective in the context of Turkish banking organisations

This article investigates the question of why women remain underrepresented in management positions despite their increasing presence in the Turkish banking sector context. By using an integrative framework that brings together the relational and institutional perspectives, this article seeks to understand how macro-level contextual influences reflect on meso-organisational processes and practices, which in turn influence women’s micro-individual career trajectories. This article explores the careers experiences of 49 female banking professionals from three distinct banking organisations (Turkish, western and Islamic). The findings reveal that women’s limited representation at managerial level is an outcome of the interplay between macro-, meso- and micro-level issues. At the macro-level, the article highlights religion-based fragmented social structure as a key factor in the socio-cultural context of Turkey. At the meso-level, the analysis of the three different cases identifies factors relevant to both western and Middle Eastern societal contexts. At the micro-level, the analysis highlights how women’s perceptions of macro-level barriers change depending on their organisational context, emphasising the interrelatedness between these three levels. The article contributes to women’s career literature by providing the Turkish perspective and introducing novel insights into the interplay between societal forces, organisational practices and individuals’ perceptions.

MCDM Approach for Locating Automatic Teller Machines: An Application in Turkish Banking Sector

Although there is an increase in the use of alternative channels through which the service offered by bank ATMs (Automated Teller Machine) can be met due to technological developments, branching remains important for banks in terms of increasing the loyalty of existing customers to the bank, acquiring new customers and maintaining communication with all customers. The location to be determined for ATM placement may vary depending on many factors. In this study, a simple and easily usable method is presented to find the most suitable location for bank branches. The purpose of this study report is to compare the solutions of the case analysis with PROMETHEE II method used in the selected article and the other method which is ELECTRE II. PROMETHEE II method was solved by the authors of the selected article, ELECTRE method by the authors of this report. The case study was conducted with data from the decision maker in a transformer manufacturing organization in India. Methods give different results for 3 identified sustainable concepts (S1, S2, S3).

THE EFFECT OF THE GLOBAL FINANCIAL CRISIS ON THE MARKET STRUCTURE: THE CASE OF THE TURKISH BANKING SECTOR

In this study, the market structure and competition level of the Turkish banking sector are investigated by employing a dynamic panel data method and using the data of the 2003-2018 period. For this purpose, within the framework of the non-structural Panzar-Rosse model, H statistical values were calculated for the period 2003-2018 and sub-periods 2003-2009 and 2010-2018 to investigate the effects of the Global Financial Crisis. According to the findings, the Turkish banking sector has a monopolistic competitive structure in the period of 2003-2018, in accordance with the classification in the literature. However, considering the structure of the Turkish banking sector, it can be stated that the sector has an oligopolistic structure. H statistical values also calculated for the 2003-2009 and 2010-2018 sub-periods that the level of competition in the sector is notably low, although the oligopolistic structure is maintained. Also, it is observed that the competition level of the sector decreased after the Global Financial Crisis, when the H statistics calculated for the two sub-periods are compared.

The Human Resource Management and the Profitability, in Turkish Banking Sector: Evidence Within the “Leap Period”

Since the concurrence reached its highest level at the last decades of the 20th century, the firms are in the search of gaining the competitive advantage. After have seen the impact of the strategic resources, scholar have focused to find the new ones. Human resource management had a considerable potential to contribute to the firm performance. In spite of evidence the relationship between the HRM and the firm performance, there are still some uncertainties: First, is it really acceptable to trust the perceptions of the respondents, particularly since they evaluate both HRM and the performance. And secondly, is it really certain that HRM ensures the profitability (but not the profitability ensures the HRM). In order to answer these questions, the annual activity reports (between 2010-2019) of the commercial banks in Turkey are analyzed. The data gathered from the HRM sections and the financial sheets are compared. Based on the intensity of new HRM practices starting and their impact on ROA, it is argued that HRM is one the factors that ensure the profitability, when it is driven in a leap period. Keywords: Strategic human resource management, human resource management, firm performance, ROA, leap period DOI: 10.7176/EJBM/13-8-08 Publication date: April 30 th 2021

Banka Kârlılığına Etki Eden Mikro Değişkenler: Türk Bankacılık Sektöründeki Yerli Ve Yabancı Bankalar Üzerine Bir Araştırma1 (Micro-Variables That Affect Bank Profitability: A Research on The Domestic and Foreign Banks in Turkish Banking Sector)

Purpose - In this study, it is aimed to determine the internal factors at the bank level that affect the profitability of domestic and foreign deposit banks operating in the Turkish banking sector in the period of 2009-2017. Design/methodology/approach – Financial data of the banking sector has the feature of a balanced panel. The data used in this study, the Banks Association of Turkey has been compiled from data published on the site during certain periods. Subject of the study is 23 deposit banks which are 11 of them domestic and 12 of them foreign banks. In the application, which was carried out with Panel data analysis method using annual frequency data of these banks between 2009 and 2017, the asset profitability variable was used as a measure of profitability of deposit banks. Findings - According to the results of the study, the asset profitability of domestic deposit banks; it is significantly affected by variables such as bank age, loan-to-deposit ratio and financial asset ratio. When the findings obtained from the panel data analysis are considered in terms of foreign banks, it is observed that the main determinants of the asset profitability of banks are respectively internal variables such as growth in deposits, deposit-loan ratio, capital adequacy ratio, personnel expenses, net fee and commission income. In addition, it has been determined that there is an inverse-U shaped non-linear relationship between the loan-to-deposit ratio and the profitability measures of deposit banks. Discussion - The profitability of banks is affected by many internal and external factors. Besides uncontrollable external factors, controllable bank-specific factors have a significant impact on profitability.

DEĞİŞİM DÖNEMLERİNDE MUHASEBEDE İHTİYATLILIK VE SÜRDÜRÜLEBİLİRLİK RAPORLAMASI: TÜRK BANKACILIK SEKTÖRÜNDEN KANITLAR

The study aims to examine accounting conservatism in the Turkish banking sector from two sides. These can be expressed as lending policies and sustainability reporting. We firstly investigate whether accounting conservatism improves the lending capacity of banks during crisis periods. We hypothesize that higher conditional conservatism could reduce the adverse effect of the financial crises on the banks' lending capacity. We test our predictions empirically through an unbalanced panel data of 32 Turkish deposit banks in 1999-2019. We secondly examine whether a bank’s engagement in sustainability performance and reporting reduces information asymmetry and leads to less demand for conservatism by outside stakeholders. We test whether a bank conditional conservatism changes or not after starting to report sustainability information. The results of our primary hypotheses are consistent with our predictions and complement and support existing evidence in the empirical literature. We find evidence of the positive impact of conditionally conservative accounting policies on the supply of bank loans. When we test our sustainability reporting hypotheses, incoherent with prior researches and our predictions, there is no significant relationship between sustainability reporting and the level of conservatism.

THE EFFECTS OF COVID-19 PANDEMIC OVER TURKISH BANKING SECTOR

The Covid-19 epidemic that started firstly in Wuhan, China, shortly spread to the World and influenced negatively all the life and economic sectors. The World countries survived their economies generally by attempting to decrease negative effects of the pandemic by liquidity to the market, low interest loans and renewing loans policies. The government even in Turkey used the banking sector as an effective tool as well as cash aids and unrequited transfers. Especially by public banks, it is submitted some financial products with low interest and grace period. The reflections of all these developments to the banking sector balance sheet and ratios is important because banks are systemically important institutions that both influence macro economy and influenced from macro economy. In these study, it is analysed COVID-19 pandemic effects’ to the banking sector balance sheets and ratios between 2019-2020 by tables and graphs. The deposits in the sector increased rapidly after 2020 first term. It is an indicator of the trust to the banks in the crisis. Especially after June 2020, deposits in foreign money increased more than TL. However, it is seen that the rate of credits and deposits decreased and going on decline trend because of current crisis atmosphere. It is seen still that the credit usage increased in 2020 because of allocated and renewed loans under the support measures. The rising trend in credits over TL went on until the end of 2020 despite of decline of the acceleration of rising. It can be said that the public banks played important role in these credit rising. It is seen that the rising trend in credits in foreign money decreased after October 2020 and so it results to decrease the trend of total credits. Hence, the percentage of loans in assets decreased in 2020 especially in the half of 2020. However, while it is seen nonperforming loans are not increasing during 2020, it is remarkable for the rapid rising in the loan loss provisions. In fact, the nonperforming loans increased when the economy declined. That reverse effect can be explained by having postponed the loan instalment or renewing the nonperforming loans under the support measures. Moreover, the nonperforming loans have a tendency to increase after October 2020. Finally, it is indicated that though the capital adequacy ratio in Turkish banking is high, the leverage ratio is increasing as well. As a result, it seen that the return on assets of Turkish banking sector decreased especially in the last 3 mounts in 2020 in comparison to 2019.

Swap transactions and profitability relationship: an empirical research on the Turkish banking sector

Purpose- The increase in volatility in exchange rates in the last 5 years has increased the level of exchange risk for the Turkish banking sector, whose liabilities are mainly composed of foreign currency funds. To manage the currency risk, the tendency towards derivative financial instruments has increased and swap transactions have a share of 85% in the total derivatives’ portfolio as of the end of 2019, according to BRSA data. Studies in the literature on the subject of the Turkish banking sector focus on the effect of derivative financial instruments on banks' risk level. In studies on the effect of derivative transactions on profitability, it is seen that the derivative transaction’s portfolio is evaluated as a whole. In this context, taking into account that swap transactions are carried out to make a profit in addition to being a risk management tool, the purpose of the study is to determine the causality between profitability and swap transactions recorded by banks within the scope of Derivative Transactions for Trading Purposes. Methodology- In the research, the data of the first 8 private banks according to balance sheet size were analyzed. State-owned banks were excluded from the study due to their capital structures, working principles, competition conditions, and their functions being relatively different from private banks. The variables to be analyzed in the study are net profit and swap transaction volume data that banks account for under Derivative Transactions for Trading Purposes by IFRS 9. The data were obtained from financial statements and audit reports disclosed to the public by banks. These data are for 20 quarters covering the years 2015-2019. In this context, short and long-term causality analysis was performed between swap volume and net profit. It has been determined whether the causality relationship between the variables is one-way or two-way. Panel unit root tests, Johansen cointegration test, Wald test, and Granger causality test were performed respectively to achieve the purpose of the study. Findings- Cointegration between swap volume and net profit of banks included in the analysis has been determined. For this reason, short and long-term causality analysis was performed by applying the Vector Error Correction Model (VECM). As a result of the causality test, it was concluded that there is long-term bidirectional causality among the variables and one-sided causality in the short-term. Short-term causality is from swap volume to net profit. Conclusion- As a result of the analysis of the quarterly swap volume and net profit data of the eight banks operating in the Turkish banking sector in terms of balance sheet size for the period 2015-2019, it is understood that both variables affect each other in the long-term. In the short run, the causality is one-sided and it is concluded that the swap volume affects the net profit. It is believed that a study on the effect of currency swaps, which has a significant share in the swap portfolio, on profitability will be useful in the studies to be carried out in the following period.

IS OWNERSHIP STRUCTURE EFFECTIVE IN TAKING RISKS OF BANKS? THE CASE OF TURKEY

In this study, the relationship between the capital ownership and risk taking tendency of banks is analysed. The data of multi-branch deposit banks from the banks operating during the analysis period were included in the study. The data of each bank for the end of 2008-2017 are taken into consideration. A total of 2800 variables consisting of 14 different variables belonging to 20 deposit banks covering 10 years were used in the analysis. From the 20 banks taken into account in the analysis; 3 are public, 11 are domestic private and 6 are foreign banks with private capital. One of the most striking points in the study is that the derivative financial instruments / equity variable included in the analysis as an independent variable and 3 risk indicators are in a meaningful relationship. In the framework of the data obtained from the analysis, there was no effect of capital ownership and capital concentration on the risk taking tendency of the banks in the Turkish Banking Sector.

Determination of Leading Indicators in Credit Risk Management in the Turkish Banking Sector: Sectoral Risk Rating

The aim of this study is to make sectoral risk rating based on the current period financial ratios of the industry sectors and to determine the leading indicators for the next period. Factor analysis method was used in sectoral risk rating. In 2016 to 2019, when the sectors were ranked according to the non-performing loans ratio, the Financial Intermediation, Chemical-Chemical Products and Motor Vehicles sectors, which showed the best performance, took also the best place according to the analysis results. The fact that the Energy and Construction sectors were at the bottom of the rankings of sectoral risk rating showed consistency with the rankings made according to the non-performing loans ratio. In addition, the Banking Regulation and Supervision Agency's announcement dated September 17, 2019 indicates that the loan amounting to TL 46 billion for the two sectors in question should actually be followed in the non-performing loans accounts. This announcement confirms the results of the analysis. In order to determine the leading indicators, panel data analysis was applied to the data set for the 2013-2019 period, which was created by adding the time dimension to the horizontal section data used in factor analysis. As a result of both analyzes, it was determined that Economic Profitability, Return on Assets, Equity Ratio can be evaluated as a leading indicator.

THE IMPACT OF SOCIAL MEDIA USAGE ON FIRM PERFORMANCE: TURKISH BANKING SECTOR CASE

Sosyal medya, insanların çevrimiçi kanalları kullanarak iletişim kurma şekli olarak tanımlanabilir. Sosyal medyanın ekonomik boyutuna bakıldığında, Facebook ve Twitter gibi sosyal medya sitelerinin, insanlar arasında yeni sosyal ilişkiler gösterdiği ve şirketlerin önemli bir tüketici havuzu oluşturma işlevini yerine getirdiği söylenmektedir. Sosyal medya, müşterilerin bankalar gibi şirketlerin hizmetlerini ve sürdürülebilir kullanıcılarını karşılamasını sağlamak için bir aracı olarak varlığını güçlendirmektedir. Bu durum, bankaların büyük kitlelere ulaşmak için en çok kullanılan ve takip edilen sosyal medya sitelerine dahil edilmesine neden olmaktadır. Bu açıdan araştırmanın temel amacı, Türk bankacılık sektöründe faaliyet gösteren bankaların sosyal medya hesaplarını (Facebook ve Twitter) kullanmanın olası etkisini belirlemektir. Bu amaca ulaşmak için 2013-2016 yılları arasında Türkiye’de faaliyet gösteren 35 banka (3 Kamu Sermayeli Mevduat Bankası, 9 Özel Sermayeli Mevduat Bankaları, 14 Yabancı Sermayeli Bankalar, 6 Özel Sermayeli Bankalar, 3 Yabancı Bankalar) Havuzlanmış OLS modeli ve Panel Veri Tekniği istihdam edilerek analiz edilmiştir. Araştırmada yer alan değişkenler şunlardır: Bağımlı Değişkenler, Aktif Karlılık ve Özkaynak karlılığı, Bağımsız Değişkenler, Faiz Gelirleri/Toplam Aktifler, Likit Aktifler/KVYK, Finansal Varlıklar (Net)/Toplam Aktifler, Likit Aktifler/Toplam Aktifler, Sermaye Yeterlilik Oranı, Özkaynaklar/ (Mevduat+ Mevduat Dışı Kaynaklar), Facebook ve Twitter, son olarak Kontrol Değişkenleri; Gayri Safi Yurtiçi Hasıla ve Enflasyon oranıdır. Araştırma kapsamında uygulanan Havuzlanmış OLS ve Tesadüfi Etkiler modellerine ait sonuçları birbirine paralellik göstermesine rağmen, Tesadüfi Etkiler modelinde sosyal medya kullanımının finansal performansa etkisinin istatistiksel açıdan anlamını yitirdiği görülmüştür. Elde edilen bulgular nihai olarak değerlendirildiğinde, sosyal medya mecralarında Facebook kullanımın negatif etkisi söz konusuyken, Twitter platformu üzerindeki etkileşimin pozitif etkisi öne çıkmaktadır.

The role of intellectual capital in financial development: evidence from the banking sector of Turkey

PurposeThe objective of this study is to explore and compare intellectual capital (IC) and its three components in deposit, investment and participation banks operating in Turkey’s banking sector, and to analyze empirically the relationship between intellectual capital and financial performances of the banks.Design/methodology/approachThe study uses a panel data of 46 banks operating in the Turkish banking system during the period of 2005–2019. To measure intellectual capital, value-added intellectual coefficient (VAIC) is used, consisting of the efficiency of a firm’s three types of capital – that is human, structural and employed capitals. To examine the proposed research hypotheses for each bank type separately, multiple regression analysis methods are used.FindingsThe findings of this paper reveal a positive and statistically significant relationship between IC and financial performance of the banks. Specifically, two of the components of IC, namely, employed and human capital efficiencies, are the most influential value drivers for the financial profitability of the banks, whereas structural capital efficiency has less importance in the profitability of the banks. The financial performance of the banks in Turkey is affected mostly by human capital. Therefore, if banks plan to increase their profitability, they need to pay more attention to human capital than structural and employed capitals.Originality/valueThe current study can be considered as one of the most comprehensive studies on analyzing the relationship between intellectual capital and financial performances of businesses in the Turkish banking sector. The previous studies analyzed either the banks individually or all banks as one group. The paper provides a valuable framework for executives, managers and policymakers in managing IC within the Turkish context as the most comprehensive study in the relevant literature.

Consumer Loan Rate Dispersion and the Role of Competition: Evidence from the Turkish Banking Sector

This paper aims to examine the degree of dispersion in the loan pricing of commercial banks and its association with competitive conditions. To this end, an indexation mechanism processing a novel bank-level dataset is proposed to quantify the lending rate variability in general-purpose, vehicle, and housing loans for the period January 2007-April 2020. In panel convergence tests, we show that there exists heterogeneity in long-term co-movements in banks’ loan pricing, while periods following the tightening in financial conditions display short-term deviations from general tendencies demonstrated by dispersion indices. The methodological setting also entails the construction of competition indicators for total and segment-based credit market developments. The competitive conditions monitored by Herfindahl-Hirschman Indicator (HHI) present that housing and vehicle loan segments have been concentrated in recent years. Quantile regression results further validate that improvements in the competition are associated with a lower level of lending rate dispersion in housing and vehicle segments in a statistically significant manner, whereas this relation is not applicable for general-purpose loans.

Analysis of The Relationship Between Asset Size and Risk Taking Behavior in the Turkish Banking Sector

Temel işlevleri çerçevesinde bankacılık bir risk alma ve yönetme işi olduğundan, bankacılık faaliyetlerinden kaynaklanan risklerin gereğince anlaşılması, ölçülmesi ve iyi yönetilmesi gereklidir. Finansal sektörün temel yapı taşını oluşturan bankalar, finansal istikrarın sağlanmasında önemli rol oynamaktadırlar. Özellikle bankaların yüksek kar sağlayabilmek bağlamında, daha riskli davranışlarda bulunması finansal düzene yönelik tehdit oluşturabilmektedir. Bu açıdan ele alındığında bankaların risk alma davranışları üzerinde etkili olabilecek unsurların tespit edilebilmesi, finansal istikrar açısından büyük önem arz etmektedir. Bankacılık sektörüne yönelik olarak yapılan sektör düzenlemeleri, makroekonomik düzenlemeler, bankaların sermaye yapıları, büyüklüğü, kredi hacmi, aktif büyüklüğü ve finansman yapısı gibi değişkenler bankaların risk alma davranışları üzerinde etkili olmaktadır. Bu çalışmanın amacı Türk bankacılık sektöründe risk alma davranışı ve bu davranışa etki edebilecek faktörlerin etkilerinin tespit edilebilmesidir.

Balanced scorecard-based performance assessment of Turkish banking sector with the Analytic Network Process (ANP)

In the last decade, Performance assessment of banking sectors in advanced economies became a prominent issue investment decision. This paper aims to evaluate the balanced-scorecard-based performance of the Turkish banking sector using the Analytic Network Process Approach. Within this scope, all 33 deposit banks were intended to analyze out of 34 banks. Within this scope, we made an analysis in order to determine which perspectives of the balanced scorecard approach are appropriate for each type of bank (state banks, private banks, foreign banks). In this study, we used Analytic Network Process (ANP) approaches so as to achieve this objective. With a balanced-scorecard performance assessment of the banking sector using the ANP approach, all the factor priorities have been extracted and normalized to one for each cluster and final priorities have been obtained. The final priorities and rankings of each perspective of the balanced scorecard and the type of bank ownership have been assessed in the model. According to the results of the analysis, Findings demonstrate that (i) financial factor of balanced scorecard approach has the first rank with 65.7 percent; (ii) Customer perceptive is in the second rank with 22.1 percent. (iii)Third and fourth ranks have close results, (iv) learning and growth stay in the third rank with 6.3 percent (v) internal factor has the weakest importance with 5.9%, (vi) state banks into bank ownership have the highest rank with 53.9 percent, (vii) Private owned banks are the second in the relative performance of the bank groups with 36.1%, (viii) Balanced scorecard based performance of foreign banks are replaced in the last order with approximately 10%.

Measuring Systemic Risks in the Turkish Banking Sector

This paper focused on measuring the systemic risks in Turkey’s banking sector by using two major measures that have been proposed in the literature as conditional value at risk (CoVaR) and marginal expected shortfall (MES). In order to compute the contribution of banking sector to systemic risks, the MES and ΔCoVaR measures are estimated for the six Turkish banks, which are listed, on the Borsa Istanbul (BIST) during 2000–2016 period by using Engle’s dynamic conditional correlation model. The preliminary results of this study show that although the measures provide different rankings for the systemic risk contributions, they turn out to be qualitatively very similar in explaining the cross-sectional differences in systemic risk contributions. Secondly, both systemic risk measures (MES and ΔCoVaR) are analyzed to determine the relationships between some variables associated with bank characteristics (e.g., VaR, size and leverage ratio) and banks' systemic risk contributions, via simple panel data regression methods.

The mediating role of trust in leader in the relations of ethical leadership and distributive justice on internal whistleblowing: a study on Turkish banking sector

PurposeThe purpose of this paper is to explain the effect of perceived ethical leadership and perceived distributive justice on internal whistleblowing intention through trust in leader as a mediator.Design/methodology/approachFollowing an empirical design, data were collected from 1,296 employees of Turkish financial institutions, located in Istanbul. To test four hypotheses structural equation modelling was applied.FindingsResults reveal that trust in a leader fully mediates the positive effects of both ethical leadership and distributive justice on the internal whistleblowing intention.Originality/valueThis study enhances the understanding of the ethical leadership perception and distributive justice affecting the internal whistleblowing intention in Turkey that is a developing country. Although numerous studies on whistleblowing have been conducted, this study’s originality and contribution lay in the examination of trust in the leader as a missing link between the direct relations.

Does Country Risk Affect Banking Efficiency: Empirical Evidence from Turkey and Selected Countries from the European Union

This study explores the readiness of the Turkish banking sector for its accession to the European Union (EU). Obviously, the job is not finished yet, with the challenges of introducing country risk variables and their impact on banking efficiency. Although efficiency analysis remains an important issue in economic studies to answer whether the Turkish banking sector is ready for the accession to the EU. Therefore, this study aims to investigate the impact of country risk levels on banking efficiency in Turkey and the EU in recent years, using stochastic frontier analysis for a parametric technique for the period 2010–2018. In the second stage, efficiency measures are used to investigate the effect of country risk and macroeconomic variables, applying the generalized method of moments. The results suggest that the banking sector operating in a country with low risk tends to perform more efficiently.

Efficiency And Productivity Analysis In Turkish Banking Sector With Data Envelopment Analysis And Malmquist Index

The aim of this study is to analyze the efficiency and productivity of 3 public, 6 private and 6 foreign deposit banks operating in the Turkish banking sector with the help of data envelopment analysis and Malmquist index.For this purpose, the efficiency of 15 deposit banks operating in the Turkish banking sector between 2014 and 2018 was measured and whether the efficiency of Malmquist productivity index changed over the years. In the study, input-oriented Charnes Cooper and Rhodes (CCR) model was used under the assumption of constant return to scale and 4 input 2 output variables were selected. Inputs in efficiency and productivity measurement are defined as; personnel expenses / total assets (%), total loans / total assets (%), equity / total assets (%), total deposits / total assets (%), outputs are defined as; the earning power of assets (net profit / total assets), the earning power of equity (net profit / equity) (%). The Windows Data Envelopment Analysis Program (Win4Deap) package program was used in the analysis and brokerage approach was adopted. While 4 banks were active under the Constant Return to Scale(CRS) assumption between 2014 and 2018, 8 banks were found active under the assumption of Variable Return to Scale (VRS).Inefficient banks; target values were calculated by slacks movement and radial movement values to their original values and it was found that the lambda values calculated by Win4Deap program and which banks are peers. The changes observed in Malmquist total factor productivity, technical efficiency, technological efficiency, pure efficiency, scale efficiency and total factor productivity were analyzed as a whole and decision-making units experienced improvement in the 2016-2017 period.

Performance analysis of Turkish Banking Sector: CAMELS Implementation

Performance analysis of Turkish Banking Sector: CAMELS Implementation