Abstract :In the study, the determinants of the credit risk of commercial banks were analyzed and then the banks ranked, according to risks taken into consideration during the sample period, based on the variables found to be significant. The empirical analyzes included 27 commercial banks operating in the Turkish Banking Sector for the period 2004-2014. The determinants of credit risk are modeled in the frame of findings of international experimental studies. In this context, dynamic panel data models are estimated by using bank-specific and macroeconomic variables. Then, TOPSIS analysis was applied on the variables giving meaningful coefficient values. Significant coefficients obtained from the prediction of dynamic models are considered as variable weights in the TOPSIS analysis. Findings show that both bank-specific and macroeconomic variables have strong effects on credit risk. In particular, it has been determined that the contraction in the volume of economic activity and macro instability have increased the credit risk. The TOPSIS analysis shows that the ranking of credit risk in the post-2007 period has changed, and since then public banks have taken the first three orders, but the major private banks have gone out of the market first.