VAKIFBANK
ANNUAL REPORT 2015
50
At special service locations designed to maximize
customer comfort, Private Banking offers not only the
standard banking product range, but also alternative
investment options suited to the
needs and
expectations of Private Banking customers.
VakıfBank Private Banking started operations
with the opening of Ankara Private Banking
Branch in 2011, and increased the number of
its branches to seven by 2014 with branches in
Ankara, İzmir, Bursa and Adana, as well as three
branches in İstanbul.
Building its growth strategies on new customer
acquisition and customer satisfaction since
its establishment, VakıfBank Private Banking
increased its total assets under management
(AUM) by 22% year-on-year in 2015 reaching
TL 2 billion in AUM. New customer acquisitions
accounted for around 95% of the total AUM.
In the Turkish banking system, Private Banking
operations started in the end of 1990s and
reached an intensive level of competition in
recent years. According to december 2015
data by BRSA, individuals whose domestic and
foreign currency savings exceed TL 250,000
account for 0.80% of all savers, yet 53.45% of
all savings.
The number of depositors who have foreign
currency deposit accounts and savings accounts
worth more than TL 1 million grew from 76,103
at year-end 2014 to 92,201 in december 2015.
Private Banking provides customized financial
solutions for customers of high income group
in its branches through Private Banking
Portfolio Managers, who are specialized in their
respective fields. At special service locations
designed to maximize customer comfort, Private
Banking offers not only the standard banking
product range, but also alternative investment
options suited to the needs and expectations of
Private Banking customers.
The “Private Banking Yacht Loan” product
was rolled out in order to effectively
compete against other banks in the
Private Banking segment, and reach
out to segment customers by means of
special loan products. In order to enhance
productivity by presenting a high quality
and diversified product range that suits
the expectations of Private Banking
customers, the Bank designed the
“Enjoyable Retirement” product packages,
which include Individual and Group
Retirement plans. Aiming to stand by its
customers at every moment of their lives,
VakıfBank Private Banking also launched
private health insurance products with a
comprehensive scope.
Aside from financial privileges, VakıfBank
Private Banking also offers customers non-
financial privileges, as well as boutique
events and organizations that appeal to
individual preferences so as to stay ahead of
the competition. The Bank aims to present
experiences that make customers feel privileged
and special during the activity management.
To this end, numerous activities on history and
art are organized with a view to laying the
foundations of long-term relations with current
and potential customers.
Private Banking shall continue to expand its
total assets under management and service
range, and to formulate customized solutions
with its expert staff in line with customer needs
and expectations.
PRIVATE BANKING
REVIEW OF OPERATIONS IN 2015
THAT OFFERS PRIVILEGES TO CUSTOMERS
THE PRIVATE BANK
