Turkey: 18,132 enterprises was at financial intermediary institutions sector in 2019

According to TurkStat, 218 enterprises operated at financial service activities, 63 enterprises operated at insurance, reinsurance and pension funding and 17 thousand 851 enterprises operated at activities auxiliary to financial services and insurance activities.

Value added at factor cost was 259 billion TL and production value was 377 billion 527 million TL

87.4% of total value added was of financial service activities, 9.2% of total value added was of insurance, reinsurance and pension funding and 3.4% of total value added was of activities auxiliary to financial services and insurance activities. 82.6% of total production value was of financial service activities, 13.8% of total production value was of insurance, reinsurance and pension funding and 3.6% of total production value was of activities auxiliary to financial services and insurance activities.

Total value added at factor cost and production value increased by 2.2% and 4.3% respectively, compared to the last year

Value added at factor cost decreased by 0.7% in financial services activities whereas it increased by 27.6% in insurance, reinsurance and pension funds activities, and by 27.8% in auxiliary services for financial services and insurance activities compared to the previous year. Production value increased by 3.7% in financial services activities, 4.3% in insurance, reinsurance and pension funds activities, and 18.6% in auxiliary services for financial services and insurance activities compared to the previous year.

The highest employment was at financial service activities

Number of persons employed at financial intermediary institutions was 311 thousand 624. 72.0% of total number of persons employed was of financial service activities, 6.5% of total number of persons employed was of insurance, reinsurance and pension funding and 21.5% of total number of persons employed was of activities auxiliary to financial services and insurance activities.

Personnel cost was 42 billion 167 million TL

82.2% of personnel cost was of financial service activities, 8.0% of personnel cost was of insurance, reinsurance and pension funding and 9.8% of personnel cost was of activities auxiliary to financial services and insurance activities. 84.8% of personnel cost of financial intermediary institutions consisted of wages and salaries while 15.2% of personnel cost consisted of contributions to social security.   

The ratio of female employees in financial intermediary institutions was 48.2%

Number of female employees at financial intermediary institutions was 143 thousand 856, while number of male employees was 154 thousand 667. Thus, female employment rate was 48.2%, and male employment rate was 51.8%.

Total purchase value of fixed capital investment was 12 billion 314 million TL in financial intermediary institutions

The highest share in total purchase value of fixed capital investment in financial intermediary institutions was in financial services activities with 81.6%. While this share was 12.0% in insurance, reinsurance and pension funds, it was 6.4% in activities auxiliary to financial services and insurance activities. (ILKHA)