Determination of Performance Ranking of Participation Banks with CIRITIC-Based TOPSIS Method

Participation banks are an essential part of the financial sector and have a unique business model that differs from traditional banks. These banks operate based on Islamic finance principles and strive to provide interest-free and ethical financial services to customers. This study aims to evaluate the performance of five participation banks in Türkiye (Albaraka Bank, Kuveyt Türk Participation Bank, Türkiye Finans Participation Bank, Vakıf Participation Bank, Ziraat Participation Bank) using a multi-criteria decision-making technique called CRITIC-based TOPSIS. The study covers the data period of 2018-2022. The results indicate that Vakıf Participation Bank showed the highest performance in 2018, Ziraat Participation Bank in 2019-2020, and Kuveyt Türk Participation Bank in 2021-2022.