Profitability of Participation Banks and Sectoral Economic Growth: An Analysis on Türkiye

Abstract

In economies with a bank-based financial system, banks are the primary institutions that perform the savings function of the financial system. For this reason, the profitability of banks is an important indicator of soundness in an effectively functioning financial system. In this context, the relationship between bank profitability and economic growth is also important for the real sector. This study aims to empirically demonstrate the causal relationship between the profitability of participation banks in Türkiye and sectoral economic growth. To this end, quarterly data from the period 2005Q1-2024Q3 were used to test the relationship between the profitability of assets and equity capital of participation banks and the growth of GDP, agriculture, industry, services and construction sectors using the Fourier Toda-Yamamoto Causality Test. According to the findings obtained from the analysis, a statistically significant and bidirectional causal relationship has been found between the profitability of participation banks in Türkiye and GDP and industrial sector growth; and between equity profitability and growth in the agriculture, industry and construction sectors. This situation has also demonstrated that the funds provided by participation banks operating in the Turkish banking sector have a positive impact on the industrial sector, both in terms of profitability and sector growth.

Keywords

• Bank Profitability
• Financial System
• Participation Bank
• Sectoral Economic Growth

Katılım Bankalarının Karlılığı ve Sektörel Ekonomik Büyüme İlişkisi: Türkiye Üzerine Bir İnceleme

Öz

Banka temelli finansal sisteme sahip ekonomilerde bankalar, finansal sistemin tasarruf işlevini yerine getiren temel kurumlardır. Bu nedenle, bankaların kârlılığı, etkin işleyen bir finansal sistemde sağlamlığın önemli bir göstergesidir. Bu bağlamda, banka kârlılığı ile ekonomik büyüme arasındaki ilişki reel sektör açısından da önem taşımaktadır. Bu çalışma, Türkiye’deki katılım bankalarının kârlılığı ile sektörel ekonomik büyüme arasındaki nedensellik ilişkisini ampirik olarak ortaya koymayı amaçlamaktadır. Bu amaçla, 2005Q1-2024Q3 dönemine ait çeyreklik veriler kullanılarak, katılım bankalarının aktif ve özsermaye kârlılığı ile GSYH, tarım, sanayi, hizmetler ve inşaat sektörlerinin büyümesi arasındaki ilişki Fourier Toda-Yamamoto Nedensellik Testi ile analiz edilmiştir. Analizden elde edilen bulgulara göre, Türkiye’deki katılım bankalarının kârlılığı ile GSYH ve sanayi sektörü büyümesi arasında; özsermaye kârlılığı ile de tarım, sanayi ve inşaat sektörlerindeki büyüme arasında istatistiksel olarak anlamlı ve çift yönlü bir nedensellik ilişkisi tespit edilmiştir. Bu durum, Türk bankacılık sektöründe faaliyet gösteren katılım bankalarının sağladığı fonların hem kârlılık hem de sektörel büyüme açısından sanayi sektörü üzerinde olumlu bir etkiye sahip olduğunu da ortaya koymuştur.

Anahtar Kelimeler

• Finansal Sistem
• Banka Karlılığı
• Katılım Bankası
• Sektörel Ekonomik Büyüme

Kaynakça

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