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VAKIFBANK
ANNUAL REPORT 2014
47
DYNAMIC SECURITIES PORTFOLIO MANAGEMENT
PROCESS UNDERTAKEN
VakıfBank, one of the 13 market maker banks as
appointed by the Turkish Treasury, continued to be an
active player in both the primary and the secondary bond
and bill markets in 2014. The Bank followed a dynamic
securities portfolio management strategy and modified
the portfolio size according to market conditions and
expectations in addition to shaping the securities portfolio
based on interest rates, maturities, and asset types. The
Bank aims to increase its trading profit through dynamic
securities portfolio management by taking advantage of
fluctuations in the securities market interest rates in 2015.
VAKIFBANK’S TOTAL DEPOSITS ROSE TO
TL 91.8 BILLION IN 2014
The Bank maintained a broad and reliable deposit base in
2014 thanks to effective strategies to increase deposits
as well as its extensive branch network. VakıfBank’s total
deposits grew 12.54% year-on-year, to TL 91.8 billion,
comprised of TL 65.7 billion in local currency and TL 26.1
billion in foreign currency deposits.
Savings deposits totaled TL 36.4 billion in 2014, a 16.1%
YoY increase. During this period, lira-denominated savings
deposits were up 15.2%, to TL 24.1 billion; meanwhile
foreign currency-denominated savings deposits climbed
to TL 12.3 billion, up 17.8%. The Bank’s savings deposits-
to-total deposits ratio increased from 38.4% in 2013 to
39.6% in 2014.
Focused on growing and broadening its deposit base,
which funds 58% of total assets, VakıfBank continued to
utilize its effective strategy of expanding the funding base.
Its success in attracting demand deposits as a source of
strength in reaching this goal has allowed the Bank to
maintain its demand deposits at high levels. VakıfBank’s
demand deposits increased 22.9% during the year, to TL
16.8 billion, up from TL 13.7 billion in 2013. The Bank’s
demand deposits-to-total deposits ratio stood at 18.3% in
2014.
On the strength of its rapidly-expanding branch network,
high-quality services, and policies that prioritize customer
satisfaction, the Bank will continue to pursue deposit
base growth policies and implement a source-oriented
management strategy in 2015. These efforts will enable
the Bank to maintain a steady increase in deposits.
The systematic improvements implemented over recent
years bore fruit in 2014. Thanks to a strong systems
infrastructure that supports efficient processes across
all business lines, particularly in product expansion and
marketing, transaction volumes and service incomes have
increased substantially.
Operating in a competitive environment, the Bank will
continue to actively market treasury products in line with
customer needs and demands and to sustain steady
growth in its customer base and transaction volumes in
2015.
16.8
TL BILLION
VakıfBank’s demand
deposits rose by 22.9%
during the year, from TL
13.7 billion to a total of
TL 16.8 billion.