In order to keep up in today's competitive banking sector, banks need to offer more value added and more diversified services. Service quality of banks highly depends on intellectual capital. In this study, VAIC (TM) (Value Added Intellectual Coefficient) has been used, developed by Pulic in 1998, to compare the private banks in Turkey in terms of intellectual capital performance for the years 2002-2006. For all years except 2002, Akbank T.A.S. has the highest VAIC (TM) values. It also tops the list with the highest HCE and SCE scores from 2002 to 2006. Adabank A.S. has the worst scores in HCE, SCE, and VAIC (TM) for almost all years, while it occupies the highest places in CEE listing.