VKF_FRAE_2018_uyg11

78 Section I: Introduction retail credit cardholders can conduct EFT/ money transfer transactions from their credit card for a fee. Commercial Credit Cards sustained its upward trend in 2018 In 2018, turnover growth in BusinessCard, which targets corporate, commercial and especially SME customers, continued in 2018. In December 2018, BusinessCard’s annual cumulative turnover amounted to TL 13,219 million, up by 23.81% year- on-year. Meanwhile, the number of cards issued increased 6.62% to 198,326. The credit balance rose 15.78% over the previous year to TL 2,040 million. In 2018, the Bank proceeded to conduct campaigns for BusinessCard customers. In parallel, sales campaigns targeting employees also contributed to BusinessCard numbers and turnover. Commercial Cards’ Period between Statement Cut-Off Date and Payment Due Date Were Cut to Seven Days. To decrease funding costs in commercial cards, the Bank decreased the period between the statement cut-off date and payment due date to seven days. Five different statement cut-off date options were introduced for cardholders. Prepaid Social Assistance Cards continued to grow. Growth in repaid social assistance cards continued in 2018. The number of contracted municipal and social assistance foundation climbed to 72. The Bank reached an agreement with the Ministry of National Education related to Government Free Boarding and Scholarship payments via VakıfBank’s social assistance cards, which started being distributed to students. TROY Prepaid Social Assistance Card VakıfBank’s prepaid cards were included in the national payment system – TROY. As a result, the Bank started to distribute prepaid cards with the TROY logo. HGS and OGS product integration with internet and mobile banking channels VakıfBank’s HGS and OGS products were integrated with the internet and mobile banking channels. As such, customers can easily access and process their HGS/OGS accounts via these channels. Using internet/ mobile banking, customers can now instantly access automatic top-up order updates, pass- through information and account balance/ transaction information. VakıfBank member merchant turnover continues to expand. In 2018, the Bank’s shopping and cash turnover from member merchants is up by 15.99% compared to the previous year to TL 48,403 million. VakıfBank member merchant transactions totaled 209,746,139, up 13.19% year-on-year. Early deblocking solution Member merchants who face blocking and want to receive their POS payments before the due date can initiate the deblocking process by placing an order with VakıfBank branches online, without having to wait for business hours. We are on the side of SMEs with affordable POS packages. VakıfBank member merchants have the opportunity to choose from various packages best suited to their operations and monthly turnover limits, and thus pre-determine their POS expenses for a monthly fixed fee. Depending on their choice of one-off payment or payment in installments, 16 different packages are available to member merchant customers. VakıfBank rolled out its “Platinum Plus Credit Card” product, designed to increase the activity of customers and create competitive advantage. VakıfBank is on your side with its exclusive credit card advantages... REVIEW OF OPERATIONS IN 2018