Türkiye'de konvansiyonel ve katılım bankacılığı karlılıklarını etkileyen faktörler
The factors that affects the profitability of conventional and participation banks in Turkey
Yazar: MEHMET KEMAL KADIOĞLU
Danışman: DOÇ. DR. RESUL AYDEMİR
İstanbul Teknik Üniversitesi / Sosyal Bilimler Enstitüsü / İktisat Ana Bilim Dalı / İktisat Bilim Dalı
Derece: Yüksek Lisans, 2018
Konu: Bankacılık = Banking
Dizin: Faizsiz bankacılık = Interest-free banking ; Karlılık = Profitability ; Katılım bankacılığı = Participation banking ; Türk bankacılık sektörü = Turkish banking sector ; İslami bankacılık = Islamic banking

Özet:
Finansal sektör ülke ekonomilerinin performansını arttırmak veya potansiyelini ortaya
çıkarabilmek adına önemli yapı taşlarından birisidir. Özellikle Türkiye gibi gelişmekte
olan ülkelerin fon ihtiyacını sağlama konusunda önemli görevleri bulunmaktadır.
Bankacılık finansal sektörün en büyük oyuncusu olarak farklı türlere sahiptir.
Bunlardan birisi katılım bankacılığıdır. Katılım bankaları diğer türlere göre çok yeni
olsa da müslümanlar için önemli bir açığı kapaması nedeniyle önemlidir ve hızlı
büyümektedir. Türkiye için de özellikle 2000'li yıllardan itibaren benzer durumdan
bahsetmek mümkündür.
İslami bankacılık başta bankacılık sektörünün en önemli enstrümanı sayılacak faizi ve
diğer bazı unsurları yasaklamıştır. Bu sebeple iki banka türü arasında yapısal
farklılıklar olması normaldir. Bu çalışmada bu farkların karlılık anlamında da farklara
yol açıp açmadığı tespit edilmeye çalışılmıştır.
Literatürde yapılan çalışmalar incelendiğinde karlılık göstergeleri olarak ROA, ROE
ve NIM kullanılmaktadır. Bunların belirleyicileri olarak geniş yelpazede değişken
bulunsa da bu çalışmada geçmiş dönemin verileri, sermaye, operasyonel maliyetler,
takipteki krediler, net komisyon gelirleri, mevduat faizi oran farkı, market
konsantrasyonu, likit aktifler, finansal derinleşme ve faiz kullanılmıştır. Her bir
karlılık değişkeni için etkileri ayrı ayrı hesaplanmıştır.
Genel olarak geçmiş dönem değişkenler, sermaye, net ücret komisyon, market
konsatrasyonu ve finansal derinleşme genel olarak pozitif etki oluştururken
operasyonel maliyetler, takipteki krediler, düşük faiz vermek karlılığı negatif
etkilemektedir.
İki banka türü arasında başta bu değişkenler özelinde anlamlı farklar bulunmaktadır.
Özellikle faizin yasak olması nedeniyle katılım bankalara hem bazı ürünler
ulaşamamakta hem de bazı ürünleri müşterilerine sunamamaktadır. Hatta bazı
komisyon gelirlerini bile uygun görülmediği için alamamaktadır. Ancak faiz
hassasiyeti bulunan müşteriler potansiyel müşteri olup başka tarafa gidemedikleri için
bankaya önemli bir avantaj sağlayabilmektedir.
İlgili çalışma Türkiye özelinde yapılmış olup bankaların çeyreklik verileri kullanılarak
2007-2017 yılları arasını kapsayacak şekilde yapılmıştır. Karlılık tespiti için
ekonometrik model kullanılmış olup ilgili çalışma ve testler stata ile yapılmıştır

Abstract:
Financial sector is one of the important elements of the economy which helps to
increase the performance of the economy and/or helps to reach the economy to its
potential. It has an important duty to provide the funding for emerging economies such
as Turkey.
Banking is the biggest player in the financial sector and there are also plenty of
different types of banks in the world. One of them is Islamic banking or participation
banking. Islamic banking is a new system which was appeared in the 1960s. It is not
only for Muslims but especially for them it is the only option if they want to obey the
rules of Allah because Islamic banking covers the shariah laws. In Turkey first Islamic
bank was founded in 1985 and at the moment there are 5 participation banks.
The religion of Islam forbids several things which used in the financial sector. The
first and the most important one is the interest because it can be said that the almost
whole system was built on interest. On the other hand, Islamic banking uses the system
of risk and reward. There is profit loss sharing which means depositors are like the
shareholders and they can make a profit or loss. The profit is not certain. Other things
that are forbidden are gambling, speculation and investment on haram businesses like
drugs, alcohol and etc.
As briefly explained above there is diversity between Islamic and conventional banks.
It can be expected that these differences should affect the business as well as profit.
So, economists study these two different types of banks and also their profits to find
out whether there is a difference between them.
It can be found that ROA, ROE and NIM are the profit variables which are used to
measure the banking profitability in the literature. There are also multiple independent
variables which are used to test the dependent variables.
In this thesis, all three profit ratios are used in the model. Among multiple independent
ones capital ratio, non-performing loan ratio, operational cost ratio, net fee commission
ratio, the difference of deposit rates between the bank and the sector, market
concentration, interest, financial deepening and liquidity ratio are used in the model.
There are different types of models to determine the profitability of the banks in the
literature. The "generalized methods of moments" (GMM) methodology is one of them
and is used in this thesis because there are some problems within the variables like
heteroskedasticity, endogeneity and auto correlation. GMM helps to correct all these
problems.
This thesis analyzes and compares the dynamics for the profitability of conventional
banks and participation banks in Turkey between 2007 and 2017 using a sample of 3
Islamic and 21 conventional banks. The data was taken from independent auditor'sxx
report of banks, Turkish Statistical Institute, Central Bank of Turkey, Reuters and
Bloomberg.
To figure out the factors and differences which affects the profitability, all the
estimations are made separately and also jointly for all of the dependent variables.
First of all, when we compare the mean values of two types of banks there are
significant differences between them at almost all variables. There is significantly no
difference only at NIM value. So, it can be said that the differences in the business
model may be the cause of the difference in the ratio of the banks. In detail, ROA and
ROE of the participation banks are higher than conventional ones which show
participation banks are more profitable in general. But when we look at the
commission fee income ratios, conventional banks are better. The comparison of the
deposit interest/profit share rates of the banks shows that participation banks pay less
than conventional banks. Which may be the result of the religious people who keep
their deposits within the participation banks no matter what the rate is.
Furthermore, the estimation results of the profitability ratios show other and the
important differences as well as the important factors that affect the profitability. For
conventional banks, it can be said that the lagged dependent variable, capital, net fee
commission ratio, market concentration and financial deepening are the significant and
positive variables as expected. The most influential one is the net fee commission
income. The interest rate is also positive and significant for NIM. On the other hand,
negative and significant variables are operational cost ratio and nonperforming loans
ratio as expected.For participation banks, lagged dependent variable, capital, market
concentration and financial deepening are positive significant variables while
operating costs and non-performing loans are negative. To estimate NIM liquidity ratio
is used because liquid assets' ratios are lower because they are less risky and shortterm and it should affect the NIM. Estimation results show that liquidity ratio negative
and significant for NIM for both conventional and participation banks. Finally,
estimation results for both of them together result in almost same outcome. The only
difference is the deposit rate of banks.
In detail, net fee commission ratio is very important for conventional banks because
of the highly competitive banking sector. It can be said that banks should try to increase
commission income which makes an important difference on the profit side. It is hard
to give less deposit rate to customers and offer high loan rates. Customers can easily
reach other banks. Because of high information and advertising on the banking sector,
they can know which bank has more advantage than the others. Participation banks are
far away from the maximum point of some conventional banks due to the fact that they
can not claim all the commissions because they are interest related. However, they
should find a way to collect more of it.
Other important factor is the deposit rate of the banks. The highest expense of the
banks are interest expenditures especially deposit interest expenses. So, lower the
deposit rate lower the expenses. But for Turkey, this can not be the fact because of
several reasons. First, the saving ratio is not sufficient for the economy and the loans
that the economy needs. So, all the banks need to fund itself from abroad which is
more expensive than giving high deposit rates inside the country. Secondly, if a bank
can obtain more customers, it can make income from their businesses such as FX
income, EFT income, banking operations income etc. If a bank does not have the sticky
customers who keep their deposits without looking the rates, it should try to compete
with other banks by giving higher rates.
Finally, although the maximum profit rate point of the conventional banks are higher
than participation banks, participation banks have not made a single loss for this period
of time. One of the findings of the literature is that Islamic banks perform better on the
crisis. The period between 2007 and 2017 contains a global crisis which affects the
economy of Turkey as well as the banks. In 2008, some of the conventional banks
made huge losses while participation banks still made profits. So, it can be said that
the business cycle of the Islamic bankings yields to profits even if it is a crisis. The
same thing is valid for the participation banks of Turkey.