Our Financial
Capital

Support to Public Institutions and Local Governments

VakıfBank fulfills its responsibility as an effective solution partner in banking services for central and provincial organizations of public institutions, local governments, municipalities, and their affiliates. In order to contribute to the seamless and efficient continuation of public services, we offer solutions tailored to the requirements of institutions with our expert teams and advanced technological infrastructure. Through the solutions we provide in cash management, collection systems, payment processes, and other financial services, we facilitate the financial functioning of public institutions and local governments and increase their operational efficiency. In line with our public banking mission, we provide services to the central and provincial organizations of public institutions, as well as municipalities and their subsidiaries. We continue to contribute to our country’s development goals. We also continue to provide State Economic Enterprises (SEEs) with the support they need in their financial processes. We contribute to the functioning of SEEs through tailored financing models and consultancy services, taking into account their sectoral dynamics and specific needs.

In line with our public banking mission, we continue to support institutions to work in line with the development goals of our country. With our collaborations as part of social assistance, we have increased the number of stakeholder institutions to 140 with the Social Support Card Project, which is operational as of 2024.

In the coming period, we will further develop the services we offer to SEEs, municipalities, and central and provincial organizations of public institutions, and establish new collaborations. We will make processes faster, more reliable, and user-friendly by leveraging innovative technologies in cash management, collection systems, and payment solutions.

Support for Foreign Trade

Thanks to our extensive correspondent bank network of 1,300 banks and financial institutions in 120 countries worldwide and our effective management activities, we continue to carry out our customers’ foreign trade transactions at global standards with high quality. Through our strong correspondent bank network, which we are expanding day by day, we provide our customers with easier access to medium- and long-term financing resources in line with their needs and offer alternative solutions in foreign trade.

Thanks to our experienced sales and operations team and strong correspondent banks network, we effectively mediated our customers’ foreign trade and international payment requests. While expanding our customer portfolio for international payment transactions, our customers’ preference for digital channels reached 50%, driven by the power of digital transformation in our processes, enabling us to take a strong step toward the banking of the future.

We continue to provide transfer services to our customers, for whom we intermediate their domestic and international foreign currency payments, in 15 different currencies and through our correspondent accounts in 51 banks in many countries worldwide, and to offer competitive prices to our customers who make bulk transfers. In 2024, we increased the number of transfers by approximately 15% year-on-year to over 1 million, reaching a record high.

By continuously improving our correspondent banking relations, we maintained our pioneering position in the sector by increasing our Bank’s market share in both export and import transactions in 2024 in parallel with the increase in our country’s market share in foreign trade. In 2024, we intermediated more than 516 thousand export transactions, bringing USD 75 billion worth of exports to our country, and more than 265 thousand import transactions, totaling USD 65 billion worth of import transactions. VakıfBank thus reached a total foreign trade volume of USD 140 billion. In 2024, our total foreign trade market share was 18%.

Thanks to our position as the Turkish bank with the strongest correspondent banking network and our robust share in foreign trade, we successfully renewed our syndicated loans in April and November 2024 at rates of 113% and 133%, respectively, with the participation of numerous new banks from various regions of the world. In addition to syndicated loans, our strong relations enabled us to continue supporting foreign trade with a total of USD 1.2 billion in funds obtained from bilateral loan agreements with our correspondent banks and post-financing loans.

VakıfBank aims to contribute to the speed and flexibility of trade by adapting to rapidly changing and evolving conditions. While digital platforms transform foreign trade processes, we play a leading role in this transformation by providing speed, security, and flexibility in financial services. In addition to traditional financial instruments, particularly those used in foreign trade transactions, we provide our customers with significant opportunities thanks to our integration of innovative financial technologies. Thus, we both increase the efficiency of processes and adapt to the digitalizing world of trade.

In our digitalization journey, we launched our new digital product V-Part for our corporate and commercial customers who have a large number of foreign currency transfers, trade in foreign currencies, and focus on speed and professionalism. V-Part, which we designed with professional infrastructure and system integration, enables transactions to be carried out quickly and securely on a single screen, 24/7, in a digital environment, regardless of time and location. With this innovative product, we provide our customers with the opportunity to enhance their competitiveness by offering full control and speed in their business processes. Also, we continue to take innovative steps in foreign trade financing with our solutions for our exporter customers.

While continuing to facilitate trade with our digital solutions, we have taken steps especially to support exporter customers in response to emerging needs, in order to offer export and import transactions at more competitive rates. In this context, we launched and made the “Welcome Exporter” package available for our exporter customers who do not actively do business with our Bank.

We mediate the transactions of our foreign trade customers with our specialized foreign trade field staff working in every region of Türkiye and our new products and services. We provide comprehensive support to our customers in their export and import processes by offering consultancy and training services tailored to their needs. In addition, within the framework of our consultancy services, we provide our customers with the technical and regulatory support they need in their foreign trade transactions, facilitating their processes and giving them a competitive advantage in global markets.

In line with the demands and requirements of our customers, we are extending our products and services under the agreements we have made with international financing organizations such as the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), China Export and Import Bank (CEXIM), the Taiwan Export and Import Bank (TEXIM), World Bank-MIGA, as well as our cooperation with export loan agencies such as HERMES, SERV, SACE AND CESCE, and we also provide services to our customers with medium and long-term sovereign loan facilities.

In this period, we became the most preferred bank by customers in managing their foreign trade transactions. In the coming period, we will continue to work with determination to further strengthen our country’s position in global trade by integrating our foreign trade financing solutions with technological innovations. In line with this goal, we will continue to offer innovative and effective services to our customers.

Aware of the economic, social, and political contributions of foreign trade to our country, we continue to provide quality services with our ever-improving infrastructure by accurately identifying the needs of our foreign trade customers. In 2025, we aim to strengthen our collaborations by offering flexible solutions to our customers while continuing to expand our widespread and sustainable customer portfolio. Furthermore, in addition to our knowledge and experience in foreign trade and financing, we aim to reach more customers by leveraging our advanced technological infrastructure, high-quality and client-tailored services, and robust correspondent bank network, thereby delivering innovative solutions to foreign trade demands and maintaining our vision of ‘being the leading bank’ in 2025.

Support to Agriculture

At VakıfBank, we strive to include agriculture and farmers in the digitized banking system on our way to empower our producers and progress agriculture to the next level. In this context, we launched and made available to our farmers the “Sky Agriculture” product in 2024 to enable agricultural producers to meet their financial needs digitally. We also introduced the first end-to-end “Digital Agriculture Loan” disbursement, enabling our customers to access financing without visiting our branches.

Moreover, in 2024, for the first time in the agricultural sector, we launched “Sky Agriculture,” a loan disbursement platform for agricultural producers, both through internet banking and our mobile application. We started to disburse Digital Agriculture Loans to our customers without obtaining documents and without visiting a branch. Through the “Sky Agriculture” platform, we started making the TarımKart limit increase and the Agriculture Supplementary Account and Agriculture Installment Supplementary Account products available.

In addition, we integrated TarımKart applications into our mobile banking channel and started receiving TarımKart applications digitally. This enabled us to determine the TarımKart limits and deliver the cards to our customers without requiring them to visit our branches and without obtaining any documents from them.

In this period, within the scope of the agreement between our Bank and Trakya Birlik, we have provided all our agricultural banking products, primarily TarımKart, with advantages to nearly 30 thousand farmers in the field. In addition, as in previous years, within the scope of the protocol we signed with Kayseri Sugar Factory, we ensured that the payment of the product prices of our farmers to whom we extended our Contracted Production Loan product was made smoothly. In 2024, we extended our contracted production loan product without obtaining any documents from the producers by creating an integrated digital infrastructure between Kayseri Sugar Factory and our Bank. With this system, a first in the sector, producers benefited from the contracted production loan product without submitting any documents to the branch.

Support to Households

As one of the leading banks in the sector with our experience in retail banking and our customer-oriented strategy, we serve approximately 23 million retail customers and continue to provide them with our innovative products and services.

Sky Limit, which leaves credit limit management to the initiative of customers, continued to be a unique option for users from all segments this year. In 2024, we continued to quickly define the customized limits of the Sky Limit product to our customers who meet certain criteria with the technological developments we have realized and to finalize our customers’ loan extension requests submitted through different channels in a very short time. In addition, we stood by our retail customers who joined the Sky Limit world when they needed us with our customized campaign offers prepared on a periodical, monthly, daily, or even hourly basis. Moreover, we enabled our customers to access loans instantly through mobile banking without visiting a branch. Thus, with its renewed limits and technological infrastructure, the demand for our Sky Limit product and the number of our customers increased day by day. With our technological infrastructure efforts, we have introduced a new dimension to our products by making new arrangements and improvements in our Supplementary Account for retail customers in urgent need of cash and our Installment Supplementary Account, which allows the use of the Supplementary Account in installments. We enabled our customers to make both additional account limit allocations/increases and to use the Installment Additional Account instantly via mobile banking transaction screens. In order to improve the user experience of our customers, we simplified the steps for using the Installment Supplementary Account in mobile banking and offered them the opportunity to use this product in 3 steps.

In 2024, we also focused on delivering innovative solutions tailored to the specific needs of professionals. In this context, we have prepared advantageous campaigns and packages with special cost exemptions and discounts for professional groups, such as lawyers, architects, and doctors. Thus, we provided our customers with considerable convenience in their different financial transactions.

In the field of Bancassurance, we sell insurance products to meet the needs of our retail customers through the branches, mobile banking application, website, and call center of our Bank. Moreover, we make our customers and their loved ones feel safe and contribute to the national economy by encouraging them to obtain life insurance, TCIP, homeowner’s insurance, motor insurance, and other products, such as Complementary Health Insurance, My Property Is Safe (Eşyam Güvende), and Private Pension products from insurance companies of which our Bank is an agency, based on the needs of our customers. Furthermore, in 2024, we added My Property Is Safe insurance to the products already available for sale in our mobile banking channel. We thus increased the number of insurance products sold through our mobile banking application to 10. We carried out informative activities for our customers on our “Title Deed Trusted Account” product, which enables the transfer price to be exchanged securely in real estate purchase/sale transactions. By ensuring that customers using our product feel secure during the transfer of the sales price, we have enhanced the quality of the service we offer to our customers and the use of the product. In 2024, we continued our efforts to ensure that our Title Deed Trusted Account product, which we currently offer only to our customers who use Mortgage Loans from our Bank, can also be used in real estate purchase/sale transactions without receiving a loan.

Responsible Finance

We are aware that we are responsible for the environmental and social impacts of the projects we finance within the framework of our responsible finance approach, which is the basis of our duty to contribute to society and the environment. In this context, “Environmental and Social Impact Assessment and Sustainability” is included as a particular title in our Loan Policy Document to evaluate the environmental and social impacts of the projects we finance. This way, we focus on creating a positive indirect impact with the projects we provide financing for and prioritize environmentally-friendly projects, energy efficiency, and renewable energy projects in the financing, whereas we include specific sectors within the scope of prohibited sectors and do not provide financing.

We request the documents that the projects must provide regarding environmental standards before the project financing. In addition to environmental criteria, we expect various social measures on employee and human rights, ethical values, non-child labor, and non-forced labor.

Since we consider it our responsibility to monitor the continuity of the positive impact created in the projects we finance, we also monitor the projects’ environmental and social performance during the investment and operation periods and realize the commitments made.

This process, which we have implemented at the project finance stage within the framework of a responsible banking approach, also facilitates our cooperation with international financial organizations such as the World Bank, the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the French Development Agency (AFD), and the German Development Bank (KfW). Thus, we can successfully manage the process of meeting the high ethical, environmental and social criteria, which are among the requirements of many projects that we provide financing through related institutions.

In 2024, under the SADEK framework, we provided TL 976 million in financial support to small businesses, which are particularly vital pillars of sustainable growth, TL 1.9 billion to SMEs in regions with development priority, TL 3.5 billion to female entrepreneurs, and TL 5.4 billion in financial assistance to earthquake-stricken areas. This means that our socially-responsive loan extensions exceeded TL 151 billion. In addition, we continued to finance projects that can be associated with the sustainability, climate change, and energy efficiency topics, which have a positive impact on the environment and society, and to assume the role of being a responsible player in the sector.