Following the İzmir Economic Congress in 1923, a number of small local banks were founded in Turkey.
In 1980, the bank was renamed to İktisat Bankası T.A.Ş., and its headquarter was moved to Istanbul.
[2] As one of the two banks affected by the financial crises took place in Turkey during February 2001, İktisat Banksaı went under the control of the Banking Regulation and Supervision Agency (Turkish: Bankacılık Düzenleme ve Denetleme Kurulu, BDDK) because of deposit outflows.
At that ime, the bank ranked at 20th place in Turkey in terms of assets.
The bank was transferred on March 15, 2001, to the Savings Deposit Insurance Fund of Turkey (Turkish: Tasarruf Mevduatı Sigorta Fonu, TMSF).