VKF_FRAE_2017

PART I: INTRODUCTION 56 VakıfBank Annual Report 2017 VakıfBank has continued to offer practical solutions to producers who bring abundance to the soil across the country with its VakıfBank Agriculture Card. REVIEW OF OPERATIONS IN 2017 Under the scope of its Agriculture Banking activities, VakıfBank continues to be the strength by producers, and its specialized employees have travelled from village to village to inform producers about the various solutions and attractive loans offered by VakıfBank. VakıfBank Agriculture Banking meets the operating and investment capital needs of farmers engaged in all types of agriculture and animal husbandry such as vegetable, fruit, cereal and forage crop farming, greenhouses, small and large livestock breeding, poultry farming, beekeeping, aquaculture and hunting, under advantageous terms. For this purpose, thousands of farmers were offered support through the campaigns “Act Together for Abundance in Production” and “Full Support to Farmers”. Just like past years, also year 2017 on the occasion of May 14 th World Farmers’ Day, the Bank continued to stand by farmers with its commission-free loan campaign valid throughout the month. VakıfBank has continued to offer practical solutions to producers who bring wealth to the soil across the country with its VakıfBank Agriculture Card, which allows farmers to shop for seasonal agricultural inputs at agricultural member merchants, with interest-free periods up to six months. Due to the advantages it offers farmers, VakıfBank Agriculture Card’s users increased by 167% compared to previous year. In addition, producers in need of collaterals were given the chance to continue to operate without interruption due to the loan facility under the Credit Guarantee Fund collateral. VakıfBank believes that it is important to empower producers by collaborating with producers’ organizations and enterprises in the agriculture value chain. The Bank signed a protocol with the Kayseri Sugar Factory, swiftly offering loans to more than 1,000 sugar beet producers at advantageous prices. VakıfBank diversifies its non-deposit funding sources from international markets in order to reduce the financing costs of producers, and swiftly allocated to producers a EUR 95 million facilities provided from the European Bank of Reconstruction and Development under the TurAFF program. Due to intense interest from producers, the Bank also signed a contract with the French Development Agency for a program of EUR 80 million, which was then extended to farmers, agricultural cooperatives and associations. AGRICULTURAL BANKING Due to the advantages it offers farmers, VakıfBank Agriculture Card’s users increased by 167% compared to previous year.