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VAKIFBANK ANNUAL REPORT 2013
loan (GAGF-II), amounting to EUR 50 million will
be disbursed in 2014. The European Investment
Bank (EIB) also allocated funds amounting to
EUR 200 million to be granted to municipalities
and its subsidiaries in Turkey.
First credit relationship with German
Development Bank
Following long negotiations and due diligence
meetings, the German Development Bank
(KfW) has started working with VakıfBank
for the first time. The German Development
Bank (KfW) allocated funds totaling EUR 100
million to VakıfBank to finance micro, small and
medium-size companies operating in Turkey.
The loan, which is under the guarantee of the
Turkish Treasury, has a three-year grace period
and a term of ten years.
Most active Turkish bank in international
markets
Always one of the leading banks in Turkey
for international banking, VakıfBank became
the most active Turkish bank in international
markets in 2013 with bond issuances within its
mid-term global bond issue program, private
placements, syndicated loans and long-term
and cost-effective funds provided from various
sources.
VakıfBank’s international organization
• Vakıf International AG
Headquartered in Vienna, Vakıf International
AG was established in 1999 in line with
VakıfBank’s plans to expand overseas and
conduct international banking operations.
VakıfBank International AG has branches in
Vienna, Frankfurt and Cologne.
• New York Branch
The New York Branch was founded in 1995
to better exploit opportunities in international
financial markets and to provide more
comprehensive solutions to customers in
foreign trade.
• Bahrain Branch
The Bahrain Branch was established in 2005
to finance foreign trade transactions, which
continue to expand due to the soaring business
volume between Turkey and the Gulf Region
and to fund projects planned in this region.
• Arbil Branch
Pioneering the banking industry once again,
Vakıfbank took its place among the first Turkish
banks that have opened branches in Northern
Iraq in order to support the commercial and
economic collaboration between Turkey and
Iraq and to back the Turkish entrepreneurs
who make investments in the region. The Arbil
Branch was launched in February 2011.
Effective communications with Investors
In 2013, VakıfBank uninterruptedly continued to
meet with investors or intermediaries in order
to communicate information.
During 2013, VakıfBank regularly provided
information about the Company and its
operations to investors and securities firms.
Through one-on-one and group meetings with
investors, information on VakıfBank’s financial
and administrative structure and short, medium
and long-term forecasts and strategies were
provided.
Both in one to one and in group meetings
made with the investors, VakıfBank’s financial
and administrative structure, and short and
midterm forecasts and strategies were
explained. Financial results of the Bank were
simultaneously presented to domestic and
foreign investors in the teleconferences held
at the end of each quarter while questions
about the financial results were answered. All
types of questions, comments and requests
were evaluated; all information requests except
those regarding confidential information of the
Bank and its customers were answered via
communication channel kept open throughout
the year; besides the conferences, road-shows,
and meetings held with the investors at the
Istanbul office of the Bank.
Close contact was maintained with all the
analysts preparing reports about VakıfBank
and they were provided with accurate and
adequate information about the Bank during
the preparation stages of the reports. Remarks
regarding the reports they have issued were
communicated to the analysts.
Foreign trade and correspondent banks
Vakıfbank’s strong network of correspondent
banks composed of 1,749 banks and financial
institutions in 116 countries all over the world
is managed, in line with the principles of
mutual trust, collaboration and transparency,
by a dynamic team specialized in CRM
creating fast and alternative solutions for their
customers. Hence, this network continues
to expand everyday with the new relations
established. Because of its wide network
of correspondent banks and credit limits,
VakıfBank continues to be one of the most
preferred banks among customers in foreign
trade transactions.