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INTRODUCTION
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REVIEW OF OPERATIONS
IN 2014
NEW PRODUCTS
•
VakıfBank maintained its eco-friendly banking approach in
2014 within the scope of Environmental Banking. To this
end, the SME Energy Efficiency Project was launched in
cooperation with the World Bank. Some US$ 67 million was
allocated to VakıfBank under this initiative while the Bank
contributed US$ 16.75 million as its co-funding share. As
part of the project, energy efficiency investment projects
for SMEs are financed at affordable rates and technical
consultancy services are provided for the energy efficiency
projects of SMEs. VakıfBank takes pride in being the first
bank to provide loans under the World Bank SME Energy
Efficiency Project, which involves a total of three commercial
banks.
•
Having formerly provided service within the equity
guarantee agreement in order to meet the loan demands
of SMEs that cannot provide sufficient guarantees for their
loan needs via Garanti Fonu A.Ş. (KGF) guarantee, VakıfBank
presented SMEs with the KGF Guarantee with Treasury
Support option in 2014. In addition, the Bank finances
projects of site owners in Organized Industrial Zones
pursuant to an agreement to be signed by the Bank, KGF,
and the Organized Industrial Zones.
•
In order to provide SMEs with easier access to banking
products and services, the SME Apply Now Application
was launched in 2014. With this innovative offering, it is
possible to apply for nine distinct products such as loans,
check-books, POS devices and business cards. The number
of applications received for the SME Apply Now Application
reached 3,645 between the product’s launch date of August
21, 2014 and year-end 2014.
LAUNCH OF AGRICULTURAL BANKING OPERATIONS
•
The Bank underwent restructuring in order to meet the
demands of agricultural producers quickly and to increase
customer satisfaction. As a result, the Agricultural Banking
business line was established to provide exclusive solutions
to producers and farmers in the agriculture sector.
•
New loans with flexible repayment terms were developed
to provide service for all producers operating in various
segments, from crop planting, greenhouse farming, and
animal husbandry to poultry farming, beekeeping and
The development of TARIM KART, which will enable loan
payments at harvest time, is expected to be completed in
the first half of 2015.
aquaculture. The Bank introduced loan products tailored to
the cash flow patterns of customers based on crop cycles
and harvest times.
•
The Bank created specialist teams comprised of expert
agricultural engineers at the branches to give onsite
support. These experts, employed as Regional Agricultural
Marketing and Sales Managers, initially commenced service
at branches in 14 regions. As a result, the Bank was able
to reach a large number of producers in the designated
regions, informed them about its Agricultural Banking
products, and began to grow its customer portfolio.
•
Numerous branches located in regions with high agricultural
potential were visited by the Head Office units. All
interested individuals were informed about the strategy
and targets of the Head Office and the Agricultural Banking
business line.
•
In order to establish our Agricultural Banking image and
to meet the producers in the sector and the companies
sustaining the system, the Bank participated in prominent
agriculture fairs in Bursa, Adana and Antalya. Our employees
from the area branches attended these fairs and promoted
our exclusive products for the industry to the producers.
•
In light of IPARD funding support of the Agriculture and
Rural Development Support Institution’s investment program
as well as rural development investment programs with
funding support from the Ministry of Food, Agriculture and
Livestock, the Bank developed flexible investment products
for agricultural producers to finance these investments and
to offer loans to them under attractive payment terms and
conditions.
•
Improvements in the TMO KART product, which enables
producers to receive payments quickly for their products
delivered to the Turkish Grain Board (TMO), are at their final
phase of development before the launch of the product.
The card, which allows farmers to get paid quickly, will be
introduced to the customers during the year.
•
The development of TARIM KART, which will enable
agricultural producers to purchase basic needs such as
fertilizer, fuel and pesticides under suitable terms and pay
for these purchases during the harvest time, is expected to
be completed in the first half of 2015.
14
Expert agricultural
engineers were posted
at branches in 14
regions.