VKF_FRAE_2017

PART I: INTRODUCTION 66 VakıfBank Annual Report 2017 In 2017, VakıfBank’s total deposits raised by 25.4% to TL 155.3 billion. REVIEW OF OPERATIONS IN 2017 Committed to offering competitive prices and financial services in treasury products to customers in all segments according to market conditions and customer needs, VakıfBank Treasury Management closed the year 2017 with healthy growth figures. Systematic infrastructure investments and process improvement studies continued with a view towards delivering Treasury products with high quality and speed, and many project and infrastructure upgrades were realized. In 2018, VakıfBank will continue to stand by its customers with its innovative approaches under any condition, since it is committed to resolving customer needs in the most efficient and rapid manner possible, and to adopt pricing and technological advancements into VakıfBank practices according to changing market conditions. »» TL 155.3 BILLION DEPOSIT SIZE VakıfBank continued its deposit acquisitions and funding sources cost management effectively in spite of the ongoing volatility in the markets during 2017, and enlarged its customer base and deposit volume as a result of the high quality service provided through a strong technological infrastructure and widespread branch network. Aiming to increase demand deposits and enlarge its deposit base, VakıfBank’s total deposits raised by 25.4% compared to 2016 and reached TL 155.3 billion owing to customer confidence as well as an prevalent branch network and alternative distribution channels. The Bank’s total deposits in 2017 consisted of TL 103.5 billion of Turkish Lira-denominated deposits and TL 51.8 billion of foreign currency-denominated deposits. In 2017, VakıfBank continued to play an active and leading role in turning customer savings into the funds required by the economy. VakıfBank’s retail deposit increases by 20.6% compared to year-end 2016 and reached TL 65.3 billion. During this period, Turkish Lira retail deposits were up by 23% to TL 42.9 billion while foreign currency retail deposits increased 16% to TL 22.4 billion. Having reached a high volume of demand deposits with the wide range of products it offers retail and commercial customers, VakıfBank increased its demand deposits by 23.3% year-on-year to TL 30.1 billion and the share of demand deposits in total deposits stood at 19.4%. VakıfBank’s demand deposits increased by 23.3% year-on- year to TL 30.1 billion and the share of demand deposits in total deposits stood at 19.4%.