VKF_FRAE_2018_uyg11

130 Part III: Financial Highlights and Assessment of Risk Management CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE I. OF SECTION THREE TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED DECEMBER 31, 2018 (Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) Corporate Communication Chairmanship and Board of Directors Operations Chairmanship Departments are working dependent to the General Manager. Board of Directors membership election of the Bank is renewed every year in the General Meeting. Abdi Serdar ÜSTÜNSALİH, Senior Vice President, has been appointed as Executive Vice President by the Board decision dated July 4, 2018. İsmail ALPTEKİN, Chairman of the Board of Directors and Sabahattin BIRDAL, Board Member and Audit Committee Member of the Bank are no longer in duty as of August 13, 2018. Dr. Cemil Ragıp ERTEM has been selected as Board Member at the 64th Ordinary General Assembly Meeting of the Bank held on August 13, 2018. Dr. Raci KAYA has been selected as the Chairman of Board of Directors, Doç. Dr. Şahap KAVCIOĞLU has been selected as the Deputy Chairman of the Board of Directors and Audit Committee Member unanimously according to Bank Principal Agreement’s related articles at the Board Meeting of the Bank held at August 14, 2018. Dr. Raci KAYA, the Chairman of Board of Directors, resigned from his duty following his appointment as Executive Director of International Monetary Fund (IMF), representing the country group in the IMF’s executive directorate, as of October 18, 2018. At the meeting of the Bank’s Board of Directors on January 24, 2019, it is decided to reduce the number of Executive Vice Presidents to 12 from 14, and Mustafa SAYDAM and Osman DEMREN, who were serving as Executive Vice Presidents, resigned from their duties. IV. INFORMATION ON THE BANK’S QUALIFIED SHAREHOLDERS Shareholders Nominal Value of Shares Share Percentage Paid Shares (Nominal) Unpaid Shares Registered foundations represented by the General Directorate of the Foundations (Group A) 1,075,058 43.00 1,075,058 - Vakıfbank Memur ve Hizmetlileri Emekli ve Sağlık Yardım Sandığı Vakfı (Group C) 402,553 16.10 402,553 - Registered foundations represented by the General Directorate of the Foundations (Group B) 386,225 15.45 386,225 - The shareholder holding control over the Bank is the General Directorate of the Foundations and Appendant foundations represented by the General Directorate of the Foundations having 58.45% of the Bank’s outstanding shares. Another organization holding qualified share in the Bank is Vakıfbank Memur ve Hizmetlileri Emekli ve Sağlık Yardım Sandığı Vakfı, having 16.10% of outstanding shares of the Bank. In the section I of the report, under the heading II, the changes in the ownership structure of our bank is stated with the provisional article of Law No. 696, published in the Official Gazette dated December 24, 2017.