VKF_FRAE_2017

91 VakıfBank Annual Report 2017 Vakıf Factoring A.Ş. Vakıf Factoring A.Ş. was constituted in 1998 to provide factoring services for domestic and international commercial transactions. VakıfBank owns a 78.39% share in the Company’s capital of TL 70 million. Vakıf Yatırım Menkul Değerler A.Ş. Vakıf Yatırım Menkul Değerler A.Ş. was constituted to conduct capital market activities in the same year pursuant to the Capital Markets Board’s resolutions dated August 15, 1996. VakıfBank owns a 99% share in the Company’s capital of TL 35 million. In addition to providing brokerage services, Vakıf Yatırım Menkul Değerler A.Ş. (Vakıf Investment Inc.) performs repurchasing agreements of securities (repo transactions), and provides investment consultancy services. Vakıf Portföy Yönetimi A.Ş. Vakıf Portföy Yönetimi A.Ş. was constituted to manage customer portfolios consisting of capital markets instruments as the authorized agent under discretionary portfolio management agreements as a proxy pursuant to the Capital Markets Law and other related legislation. The Company’s core business is setting up and managing mutual funds in line with CMB regulations and other related legislation. The Company also provides investment advisory and capital markets services. VakıfBank owns a 100% share in the Company’s capital of TL 12 million. Kredi Garanti Fonu A.Ş. Kredi Garanti Fonu A.Ş. was constituted in 1991 to provide collateral for all types of loans in favor of SMEs, farmers, artisans, craftsmen and the self-employed. VakıfBank participated in the Company in 2009 and owns a 1.54% share in its capital of TL 318.3 million. »» NON-FINANCIAL SERVICES GROUP Taksim Otelcilik A.Ş. Taksim Otelcilik A.Ş. was constituted in 1966 to build, contract out and manage hotels, motels and similar facilities capable of increasing Turkey’s incoming tourism potential. VakıfBank owns a 51% share in the Company’s capital of TL 334.3 million. Vakıf Gayrimenkul Değerleme A.Ş. Vakıf Gayrimenkul Değerleme A.Ş. was constituted in 1995 to provide appraisal and valuation services for all types of real estate properties. VakıfBank owns a 54.29% share in the Company’s capital of TL 14 million. Vakıf Pazarlama Sanayi ve Ticaret A.Ş. VakıfBank holds a 69.33% share in the TL 30.2 million capital of Vakıf Pazarlama Sanayi ve Ticaret A.Ş., which is engaged in providing recruitment support service, shared health and security department services, and other related services. Vakıf Enerji ve Madencilik A.Ş. VakıfBank owns a 65.50% share in the TL 85 million share capital of the Company, which operates in the energy industry. Roketsan Roket Sanayii ve Ticaret A.Ş. Roketsan Roket Sanayii ve Ticaret A.Ş. engages in the production, manufacturing and sale of rocket fuel as well as missiles, rockets and rocket launchers, and their engines. VakıfBank owns a 9.93% share in the Company’s capital of TL 147 million. Kredi Kayıt Bürosu A.Ş. (KKB) Kredi Kayıt Bürosu A.Ş. was constituted in 1995 to manage the flow of loan information. VakıfBank owns a 9.09% share in the Company’s capital of TL 7.4 million. Bankalararası Kart Merkezi A.Ş. Bankalararası Kart Merkezi A.Ş. was established in 1990 to conduct card based payment systems, clearing and provisioning services. VakıfBank owns a 9.70% share in the Company’s capital of TL 14 million. Izmir Enternasyonal Otelcilik A.Ş. İzmir Enternasyonal Otelcilik A.Ş. engages in contracting out of the building and the management of tourist hotels and commercial centers. VakıfBank owns a 5% share in the Company’s capital of TL 120,000. Güçbirliği Holding A.Ş. Güçbirliği Holding A.Ş. was constituted in 1995 to invest in companies engaged in agriculture and commerce, and to contribute to the development of the national economy. VakıfBank held a 0.07% share in the Company’s capital of TL 30 million. World Vakıf UBB Ltd. in Liquidation World Vakıf UBB Ltd. in Liquidation was founded in the Turkish Republic of Northern Cyprus with capital of USD 500,000 and VakıfBank has an 82% share in the Company. The Court of Lefkoşa Kaza in TRNC has ruled for the liquidation of the Company with its resolution dated 24 May 2010, and the resolution was finalized as of 2013. Thirteen of VakıfBank’s subsidiaries and affiliates operate in the financial services sector (four in banking, two in insurance, and seven in other financial lines of business) while 10 are non-financial companies (one in energy, two in tourism, one in manufacturing, and six in other commercial lines of business).