VKF_FRAE_2017

PART I: INTRODUCTION 58 VakıfBank Annual Report 2017 VakıfBank produces particular solutions to meet the needs of local governments, such as routine financing, cash management and project financing. REVIEW OF OPERATIONS IN 2017 in 2010, and whose first two phases are complete. Under the recently initiated third phase of the program, the Bank finances the efficiency projects for funding sources of local governments. Local governments were included in the TURSEFF program at the third phase, and VakıfBank became the first Turkish bank to sign an agreement with EBRD for participating in this phase. In recent years, local governments have also joined the rapidly expanding energy efficiency drive and developed remarkable projects. Within the scope of the TURSEFF program which runs with success, VakıfBank finances local governments’ initiatives including renewable energy efficiency projects such as Solar Energy - Wind Energy Plants launched by local governments to produce their own electricity, their projects to generate landfill gas and electricity from city waste, and other energy efficiency projects concerning the illumination of city parks and gardens, sewage and drinking water, public transportation. At the same time, the Bank’s specialized and well-experienced teams provide free-of-charge consultancy services concerning the technical and procurement processes of such projects by local governments. In the following periods, the Bank will continue to work on ensuring funding from international markets for local governments. »» THE BANK ALSO ESTABLISHED INTEGRATIONS WITH LOCAL GOVERNMENTS TO OFFER PRACTICAL SOLUTIONS TO LOCAL GOVERNMENTS AND TAXPAYERS. Tax collection is a major revenue source for local governments, and the active use of VakıfBank’s collection products and services makes it easier for local governments to collect taxes and for taxpayers to make their tax payments. Taxpayers to municipalities were given the chance to pay their taxes via different methods such as ATMs, Internet Banking, Mobile Banking and other alternative distribution channels. As such local governments can diversify their collection points and channels to increase their revenues, while taxpayers can make payments without losing time. Furthermore, local governments can enable taxpayers to pay their overdue taxes via the VakıfBank System of Collection with Delay Interest (VFT), with the opportunity of various campaigns and installments. »» THE STRENGTH BY LOCAL GOVERNMENTS WITH INNOVATIVE PRODUCTS AND SERVICES In 2018, through its new service model designed for local governments, VakıfBank will continue to support the country’s development and growth with all its power, as the strength by local governments. The product and services for the collections provided by VakıfBank allow local administrations to collect taxes and taxpayers to pay taxes with easily.