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VAKIFBANK ANNUAL REPORT 2013
• The Bank developed the “Double Feast
Loan” to finance cash needs that arise
before religious holidays with three
different flexible payment plans in line
with SME preferences. Double Feast Loans
provided SMEs significant opportunities with
very low interest rates starting from 0% and
cost advantages to finance their commercial
needs arising before religious feasts.
• ‘’Hesap Ortada Credit Campaign’’ was
developed to support sudden financial
needs of SMEs in interim periods. With this
campaign, SMEs were offered various loan
opportunities such as a three-month grace
period, with up to a total of four installment
deferrals and variable installment payment
plans with interest rates starting from 0%.
New products developed
VakıfBank continued to fund SMEs with low-
cost resources provided abroad. The Bank
developed the TurSEFF-II loan and offered
it for the benefit of SMEs, as a continuation
of Turkey Sustainable Energy Financing
Facility (TurSEFF) of the European Bank for
Reconstruction and Development (EBRD), first
launched in 2010. Through TurSEFF-II, a total
of US$ 80 million in funds were obtained.
Within the scope of TurSEFF, energy efficiency
and renewable energy efficiency investments
for SMEs in particular and large-scale energy
efficiency investment projects are funded at
affordable rates.
VakıfBank, honored previously with the
“Award for Excellence in Sustainable Energy
Financing” by the EBRD, repeated its
successful performance in this area in 2013
and was the first bank to distribute the initial
loan from TurSEFF-II.
After signing an agreement with the German
Development Bank (KfW), an important
funding of EUR 100 million was obtained and
offered to SMEs as operating and investment
loans. The European Investment Bank (EIB)
sourced and Treasury guaranteed, long-term
and cost-effective business and investment
loans offered to SMEs to contribute their
growth.
Technological integrations to facilitate
the business of SMES
Implementing technological innovations to
help the commercial activities of SMEs, in
2013, VakıfBank, in collaboration with the
Kredi Kayıt Bürosu or Credit Bureau of Turkey
(KKB) integrated an Electronic Reporting
System to enable the transmission of KKB
check/risk reports via e-mail and SMS.
Accordingly, VakıfBank became one of the
first banks to offer this important service to its
clients.
Toward agricultural banking...
Aiming to develop products and services for
the agribusiness sector, an important and
growing sector in Turkey and around the
world, the Bank cooperated with the European
Bank for Reconstruction and Development
(EBRD) and the Frankfurt School of Finance
and created a sector-focused organizational
structure. The existing agricultural segment
was enhanced to have a more active and
effective organizational structure.
Our collaborations
VakıfBank continued to cooperate with the
Small and Medium Enterprises Development
Organization (KOSGEB), Development
Agencies, Chambers of Commerce and
Industry, Organized Industrial Zones and
sectoral or regional institutions, organizations
and associations to provide financial solutions
and services specially for SMEs.