VKF_FRAE_2017

29 VakıfBank Annual Report 2017 Total Assets Total assets reached TL 271 billion with 27.30% growth in 2017. 27.30% As a result of all these activities, VakıfBank increased its net profit for the period to TL 3,723 million at the end of 2017, in a 37.75% increase over the previous year. In the year 2017, the Bank not only posted very successful financial results, but also implemented radical projects of change and transformation. Especially from the second half onwards, we took crucial steps to more rapidly adapt to the dynamics of a changing world and sharpen our competitive edge. In this period, with the vision of becoming “the leading bank of strong Turkey”, we defined our corporate strategy as profitable, efficient and high quality growth. In keeping with our productivity strategy, we decided to move our Head Office departments operating in different locations in Istanbul and Ankara to the buildings located next to our IT department in Ümraniye. We expect that the synergy created by our Head Office departments serving together under the same roof will result in effective management, efficiency and resource savings at the Bank in the coming period. In 2017, we also reshaped the Bank’s organization chart to provide better quality service through our customer-focused banking approach, and to ensure effective performance measurement, healthier credit risk management, and operational efficiency increases. With this new organizational structure, we aim to better adapt to the requirements of the rapidly changing and evolving world and to further increase the value we add to all of our stakeholders.