VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 93 Vakıf Yatırım Menkul Değerler A.Ş. Vakıf Yatırım Menkul Değerler A.Ş. was founded to conduct capital market activities in the same year pursuant to the Capital Markets Board’s resolutions dated August 15, 1996. VakıfBank holds a 99.25% share in the company’s capital of TL 35 million. In addition to providing brokerage services, Vakıf Yatırım Menkul Değerler (Vakıf Investment) performs repurchasing agreements of securities (repo transactions) and provides investment advisory services. Vakıf Portföy Yönetimi A.Ş. Within the resolution VakıfBank’s Board of Directors dated December 13, 2018, the Bank decided to sell all its shares in the wholly- owned subsidiary Vakıf Portföy Yönetimi (Vakıf Portfolio Management), which has total capital of TL 24 million, to Ziraat Portföy Yönetimi A.Ş. The share transfer was completed as of January 2, 2019; as of the referenced date, the Bank has no shares in Vakıf Portföy Yönetimi A.Ş. As of December 2018, Vakıf Portföy Yönetimi was removed from the Bank’s consolidated subsidiaries. Kredi Garanti Fonu A.Ş. Kredi Garanti Fonu A.Ş. was founded 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 holds 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 founded in 1966 to build, contract out and manage hotels, motels and similar facilities capable of increasing Turkey’s incoming tourism potential. VakıfBank holds a 51% share in the company’s capital of TL 334.3 million. Vakıf Gayrimenkul Değerleme A.Ş. Vakıf Gayrimenkul Değerleme was established in 1995 to carry out the appraisal and valuation of all types of real estate. VakıfBank holds a 94.29% share in the company’s capital of TL 14 million. Vakıf Pazarlama Sanayi ve Ticaret A.Ş. Vakıf Pazarlama Sanayi ve Ticaret A.Ş. provides recruitment support, shared health and security department services, and other related services. VakıfBank holds an 86.97% share in the company’s capital of TL 30.2 million. Vakıf Enerji ve Madencilik A.Ş. Vakıf Enerji ve Madencilik A.Ş. operates in the energy industry. VakıfBank holds a 65.50% share in the company’s capital of TL 85 million. 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 holds 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 founded in 1995 to manage the flow of loan information. VakıfBank holds 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 holds a 9.70% share in the company’s capital of TL 30 million. Izmir Enternasyonal Otelcilik A.Ş. Izmir Enternasyonal Otelcilik A.Ş. engages in contracting out of the building and the management of tourist hotels and commercial centers. VakıfBank holds a 5% share in the company’s capital of TL 120,000. Güçbirliği Holding A.Ş. Güçbirliği Holding A.Ş. was founded in 1995 to invest in companies engaged in agriculture and commerce, and to contribute to the development of the national economy. VakıfBank holds 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. VakıfBank holds an 82% share in the company’s capital. The Court of Lefkoşa Kaza in TRNC ruled for the liquidation of the company in a resolution dated May 24, 2010; the resolution was finalized as of 2013. Türkiye Ürün İhtisas Borsası A.Ş. Türkiye Ürün İhtisas Borsası A.Ş. was established to operate for trading electronic product bills created by licensed warehouse enterprises and futures contracts based on electronic product bills, as per Law numbered 5300 and related legislation. VakıfBank holds a 3% share in the company’s capital of TL 100 million. 12 of VakıfBank’s affiliates and subsidiaries operate in the financial services sector – four in banking, two in insurance and six in other financial lines of business. Meanwhile, 11 are non-financial subsidiaries – one in energy, two in tourism, one in manufacturing and seven in other commercial companies.