ING Turkey Pushes Fee-Free Banking Agenda Amid 298 Billion Lira Asset Growth

ING Turkey has redefined industry competition through digitization and fee-elimination strategies in the first half of 2026, growing its financial strength to an asset size of 298 billion lira. The bank concluded the period with a pre-tax profit of 1.8 billion lira and total equity of 25.8 billion lira, maintaining its promise to support the real economy with 209 billion lira in credit while sustaining profitability.

Consolidated Strength: 298 Billion Lira Asset Growth and Real Economy Drive

According to the published consolidated financial results, the bank's balance sheet has achieved a robust structure, with visible momentum in both credit and deposit segments. Supporting its financial stability with a strong capital base, ING achieved the following concrete figures in the first six months of the year:

■Total asset size reached 298.1 billion lira.

■Pre-tax profit was 1.8 billion lira, while total equity stood at 25.8 billion lira.

■As part of the support provided to the economy, a total of 209 billion lira in loans was utilized, 182 billion lira of which was cash loans.

■Deposit size grew to 183.9 billion lira.

Striking Back Against Hidden Costs: The SWIFT and Card Fee Revolution

ING Turkey, fighting one of the sector's biggest issues—transaction fees—expanded its strategy from SMEs to individual customers. Moving beyond digital channels to target branchless customer acquisition, the bank is setting an example for the industry by reducing costs to zero, especially in foreign currency transfers and commercial cards. Led by Alper Gökgöz, the steps taken include:

■Free EFT, wire transfer, and FAST transactions 7/24 for SMEs.

■Offering annual-fee-free commercial credit cards accessible via commercial loans and cashback opportunities.

■SWIFT transactions via digital channels were made fee-free in July for individual customers.

■Credit card annual fees were completely removed via ING Mobile.

ING's decision to eliminate fees for EFT, FAST, and particularly SWIFT transactions is a bold strike against the industry's 'nickel-and-diming' trap. However, as a strategist, I must ask: Is this 'fee-free' label overshadowing the reality of high interest rates and file charges? While growing a cash loan portfolio of 182 billion lira, zeroing out transaction fees is a brilliant marketing move, but when will we see a similarly 'ruthless' reduction in the actual burden on the consumer: the interest rates? Making banking easier is great, but making it cheaper should be the ultimate goal.