VKF_FRAE_2018_uyg11

48 Section I: Introduction Irrigation Unions, TARİŞ, Petrol Ofisi, TECO and TERMOPET. In 2018, TarımKart holders increased 85% and the number of total farmer customers rose above 150 thousand. Farmers can obtain state-sponsored TARSİM insurance policies – which constitute the main insurance coverage for their agriculture and animal husbandry operations – via VakıfBank branches and may also have opportunity to make postpone payments until harvest time by making policy premium payments with their TarımKart.. In 2018, the number of customers that purchased TARSİM insurance products jumped 211% year-on-year. VakıfBank is committed to empowering farmers by cooperating with farmers’ organizations and enterprises throughout the agricultural value chain. Accordingly, the Bank developed new products and packages to facilitate payments to farmers from enterprises in the agricultural value chain. A large number of banking products started to be offered to businesses and farmers free of charge during the year. Cognizant of the crucial importance of licensed warehouse activities for the future of our agricultural sector, VakıfBank mediates in the payment of loans and produce fees in return for Electronic Produce Certificate (ELÜS). With this effort, the Bank gives support to licensed warehouse operations. Credit Guarantee Fund (CGF)-backed loans extended to enterprises that have difficulty in accessing finance due to lack of collaterals help producers continue farming without problems. VakıfBank supports the agricultural development of our country by offering affordable loans to farmers, agricultural cooperatives and unions from funds amounting EUR 80 million under an agreement signed with the French Development Agency. Embracing the belief that sustainable agriculture is critical to the future of our country, VakıfBank has continued to be the strength on the side of farmers since 2014 with its expert employees, innovative products and services customized to meet farmers’ needs. In agricultural lending, VakıfBank meets the financing needs of farmers with operating and investment loans that repaid once a year in accordance with harvest time. On that vein, the Bank meets the operating and investment capital needs of farmers with affordable loans for vegetable production, dairy animals, poultry farming, greenhouses, aquaculture, mushroom growing, beekeeping, organic farming, tractors, farmland purchases, farm equipment, dairy animal purchases and other needs. TarımKart (VakıfBank Agriculture Card), which was designed to facilitate farmers’ access to financing and provided immediately to farmer customers upon application approval, allows farmers to meet their demand for agricultural inputs – such as pesticides, seeds, fertilizers and animal feed – from contracted merchants located across the country with loans featuring six months interest-free. Farmer cardholders can also meet their fuel needs with loans featuring five months interest-free. Farmers holding TarımKart can make purchases under attractive terms thanks to the Bank’s collaboration with contracted merchants, such as Agricultural Credit Cooperatives, Pankobirlik, Agricultural Banking In agricultural lending, VakıfBank meets the financing needs of farmers with operating and investment loans that are repaid once a year in accordance with harvest time. VakıfBank is on your side with new products and packages that empower farmers... REVIEW OF OPERATIONS IN 2018