VKF_FRAE_2017

75 VakıfBank Annual Report 2017 VakıfBank is expanding its correspondent network day by day consisting approximately 1,500 banks and financial institutions in 127 countries. »» INTERNATIONAL BANKING AND CORRESPONDENT BANKS VakıfBank’s stubborn correspondent bank network comprised of 1,491 banks and financial institutions in 127 countries across the world. The network is managed in line with the principles of mutual trust, collaboration, and transparency by a dynamic team specialized in CRM focused on creating rapid and alternative solutions for their customers. This network continues to expand by the day with the establishment of new relationships. Following the agreements signed with the EBRD and the International Finance Corporation (IFC) to develop foreign trade, VakıfBank acts as an intermediary for export letters of credit and guarantees from the banks supported in the program under the umbrella of these institutions. As a result of its extensive network of correspondent banks as well as its lines of credit, VakıfBank continues to support funding for foreign trade transactions and remains one of the most preferred banks in this segment. »» VAKIFBANK’S INTERNATIONAL ORGANIZATION VakıfBank International AG VakıfBank International AG, headquartered in Vienna, was established in 1999 in line with VakıfBank’s plans to expand abroad and conduct international banking operations. The Bank has branches in Vienna, Frankfurt and Cologne. New York Branch The New York Branch was established in 1995 to better exploit opportunities in international financial markets and to provide more comprehensive solutions to customers in foreign trade. Bahrain Branch The Bahrain Branch was established in 2005 to finance foreign trade transactions, which continue to expand due to the soaring business volume between Turkey and the Gulf Region, and to fund projects planned in this region. Arbil Branch Pioneering the banking sector once again, VakıfBank provided its place among the first Turkish banks that have opened branches in Northern Iraq. The Bank’s aim is to support the commercial and economic collaboration between Turkey and Iraq and to back Turkish entrepreneurs who make investments in the region. The Arbil Branch commenced operation in February 2011. Effective Communication with Investors During 2017, VakıfBank regularly strengthened its relations and provided information about its corporate affairs and operations to investors and brokerage companies. During the year 2017, the Investor Relations Department: » » Responded to approximately 1,000 information requests submitted by shareholders. » » Attended 21 local and international investor conferences, and held face-to-face meetings with more than 400 foreign and local institutional investors. » » More than 250 meetings were conducted at the Bank’s Istanbul offices and roughly 400 investors/analysts were interviewed. » » Following the investor conferences attended, reports were prepared in line with the feedback obtained from the investors and presented to the top management. » » Four teleconferences regarding the results of the financial statements were arranged and their records were published on the English version of the website. » » Annual ordinary evaluation meetings were held with rating agencies (Fitch, Moody’s, and S&P). » » Close communication was sustained with all the analysts publishing reports regarding the Bank, accurate and reliable information was provided to the analysts during the report preparation and comments on the reports were shared with the analysts following the review process. During 2017, VakıfBank regularly strengthened relations and provided information about its corporate affairs and operations to investors and brokerage companies.