Türk Bankacılık Sisteminde Net Faiz Marjı Belirleyicilerinin Tespit Edilmesi: Panel Data Analizi

Year 2019, Issue: 111, 233 - 266, 30.04.2019

Abdulhakim Diko

https://doi.org/10.33203/mfy.474931

Cited By: 2

Abstract

Çalışma, Türk Bankacılık sisteminde net
faiz marjı belirleyicilerinin tespit edilmesini ve bankacılık sektörü
üzerindeki etkilerini araştırmayı amaçlamaktadır. Ekonometrik çalışma, Türkiye’de
2003-2015 yılları arasında sürekli olarak faaliyet gösteren kamu, özel ve yüzde
yüz yabancı sermayeli toplam 23 bankanın çeyrek dönem mali verileri ve  makro ekonomik veriler ile
gerçekleştirilmiştir. Çalışmada panel veri analizi yöntemi kullanılarak
sonuçlar, ekonometrik analizden önce sektör temsilcileri ile yapılan anket
sonuçları ile birlikte değerlendirilmiştir. Sonuçlar göstermektedir ki; 2009
krizinden sonra bankaların net faiz marjları azalmaya başlamış, faiz dışı
gelirler ile oparasyonel maliyetlerin banka karlılığı üzerindeki etkisi
artmıştır. 

Keywords

Turkish Banking Industry, Net Interest Margin, Panel Data Analysis, Dealership Model

Determinants of Net Interest Margins in Turkish Banking System: A Panel Data Analysis

Abstract

This study aims to investigate the
determinants of net interest margin within the Turkish banking system and to
determine their effects on the banking sector.The econometric study has been
carried out with macroeconomic data and quarterly financial data of 23 banks
with state-owned, privately-owned and foreign banks that are operating between
2003 and 2015. Panel data analysis was used and results were evaluated together
with the survey conducted before the study. The results show that the net
interest margins of banks started to decrease especially after the crisis of
2009 and the effect of non-interest income and operational costs on bank
profitability has increased. 

References

• Aliaga-Diaz, Roger & Olivero, Maria P. 2011, ‘The Cyclicality Of Price‐Cost Margins In Banking: An Empirical Analysis Of Its Determinants’, Economic Inquiry, Vol.49 (1), pp.26-46.Angbazo, Lazarus. 1997,‘Commercial bank net interest margins, default risk, interest-rate risk, and off-balance sheet banking’, Journal of Banking & Finance, Vol. 21, pp. 55-87.Allen, Linda. 1998,‘The Determinants of Bank Interest Margins: A Note’, The Journal of Financial and Quantitative Analysis, Vol. 23, No. 2, pp.231-235.Atasoy, H., 2007, ‘Türk Bankacılık Sektöründe Gelir-Gider Analizi ve Karlılık Performansının Belirleyicileri’, Uzmanlık Yeterlilik Tezi, TCMB.Berger, Allen N, Iftekhar, Hasan & Zhou, Mingming, 2009, ‘Bank ownership and efficiency in China: What will happen in the world’s largest nation?’, Journal of Banking and Finance, Vol.33(1), pp:113–130.Brock, P. L., & Suarez, L. R. 2000, ‘Understanding the behavior of bank spreads in Latin America’, Journal of development Economics, Vol.63(1),pp.113-134.Catao, Luis. 1998,’Intermediation spreads in a dual currency economy: Argentina in the 1990s’, IMF Working Paper, No. 98/90, International Monetary Fund, Washington. Demirgüç-Kunt, Aslı & Huizinga H. 1999, ‘Determinants of Commercial Bank Interest Margins and Profitability: Some International Evidence’, The World Bank Economic Review, Vol. 13, No. 2, pp. 379-408.Demirgüç-Kunt, Aslı & Huizinga, H. 2000, ‘Financial Structure and Bank Profitability’, Policy Research Working Paper; No: 2430, World Bank, Washington, DC, pp.1-15.Demirgüç-Kunt, Asli, Laeven, Luc & Levine, R. 2004, ‘Regulations, Market Structure, Institutions, and the Cost of Financial Intermediation.’ Journal of Money, Credit and Banking, Vol. 36(3), pp. 593-622. Doliente, S.Jude. 2005, ‘Determinants of Bank Net Interest Margins of Southest Asia’, Applied Financial Economics Letters, Vol.1, pp.53-57.Drakos, Konstantinos. 2005, ‘Assessing the success of reform in transition banking 10 years later: an interest margins analysis’, Journal of Policy Modeling, Vol. 25, pp.309-317.Hawtrey, Kim & Liang, H. 2008, ‘Bank interest margins in OECD countries’, North American Journal of Economics and Finance, Vol.19, pp.249–260. Ho, Thomas S. Y. & Saunders, Anthony. 1981,‘The Determinants of Bank Interest Margins: Theory and Empirical Evidence’, The Journal of Financial and Quantitative Analysis, Vol.16, No.4, pp.581-600.Güriş, S., 2015, Stata ile panel veri modelleri. Der Yayınevi, İstanbul.Kansoy, Fatih.2012, ‘The Determinants Of Net Interest Margin İn The Turkish Banking Sector. Does Bank Ownership Matter?’, BDDK Bankacılık ve Finansal Piyasalar, Cilt.6, Vol.2.Kasman, A., Tunc, G., Vardar, G. & Okan, B. 2010, ‘Consolidation and commercial bank net interest margins: Evidence from the old and new European Union members and candidate countries’, Economic Modelling, Vol.27, pp.648–655.Kaya, Yasemin Türker. 2001,‘Türk Bankacılık Sisteminde Net Faiz Marjının Modellenmesi’, Bankacılık Düzenleme Ve Denetleme Kurumu, MSPD Çalışma Raporları, No: 2001/4.Kaya, Yasemin Türker. 2002,‘Türk Bankacılık Sektöründe Karlılığın Belirleyicileri 1997-2000’, Bankacılık Düzenleme Ve Denetleme Kurumu, MSPD Çalışma Raporları, No: 2002/1.
• Khediri K. Ben & H. Ben-Khedhiri,2011, ‘Determinants of bank net interest margin in Tunisia: a panel data model’, Applied Economics Letters, Vol.18, pp.1267–1271.Klein, Michael A. 1971, ‘A Theory of The Banking Firm’, Journal Of Money, Credit And Banking, Vol.3, No.2, pp.205-218.Lerner. Eugene M. 1981,‘Discussion: The Determinants of Bank Interest Margins: Theory and Empirical Evidence’, The Journal of Financial and Quantitative Analysis, Vol. 16, No.4, pp.601-602.Madura, J. & Zarruk,E.R.1995, Bank Exposure to interest rate risk: a global perspective, Journal of Financial Research, Vol: 18(1), pp. 1-13.Maudos, Joaquín & Guevara, J. F.2004, ‘Factors Explaınıng The Interest Margın In The Bankıng Sectors Of The European Unıon’, Journal of Banking & Finance, Vol. 28, No. 9, pp. 2259–2281.Maudos, Joaquin & Solís, Liliana. 2009, ‘The determinants of net interest income in the Mexican banking system: An integrated model’, Journal of Banking & Finance, Vol.33, No.10, pp.1920-1931.McShane, R. W. & Sharpe I. G. 1985, ‘A time series/cross section analysis of the determinants of Australian trading bank loan/deposit interest margins: 1962-1981’, Journal of Banking & Finance, Vol. 9, No. 1, pp:115-136.Saunders, Anthony & Liliana Schumacher, 2000,‘The determinants of bank interest rate margins: an international study’, Journal of International Money and Finance, Vol:19, Pp: 813–832.Uğur, Ahmet & Hakan Erkuş, 2010,‘Determinants Of The Net Interest Margins Of Banks in Turkey’, Journal of Economic and Social Research 12, pp.101-118.Valverde, Santiago Carbo & Francisco Rodriguez Fernandez, 2007,‘The determinants of bank margins in European banking’, Journal of Banking & Finance 31, 2043–2063.Wong, Kit Pong. 1997, ‘On the determinants of bank interest margins under credit and interest rate risks’, Journal of Banking & Finance 21, Pp.251-271Zarruk, R., 1989, ‘Bank spread with uncertain deposit level and risk aversion’, Journal of Banking and Finance, 13, pp. 797-810.Zarruk, Emilio R & Jeff Madura, ‘Optimal Bank Interest Margin under Capital Regulation and Deposit Insurance’, The Journal of Financial and Quantitative Analysis, Vol. 27, No. 1, pp.143-149, Mar., 1992Erol, Hasan. 2007, ‘Bankalarda Net Faiz Marjının Belirleyicileri, Risk Duyarlılığı ve Politika Önerileri’, Uzmanlık Yeterlilik Tezi, Türkiye Cumhuriyet Merkez Bankası Bankacılık Ve Finansal Kuruluşlar Genel Müdürlüğü, Ankara.Göçmen, Gamze. 2005, ‘Bankacılık Sektöründe Net Faiz Marjını Belirleyen Faktörler:Türkiye Uygulaması (1990-2000)’, İşletme Bölümü Yüksek Lisans Tezi, Süleyman Demirel Üniversitesi.