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INTRODUCTION
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REVIEW OF OPERATIONS
IN 2014
INVESTMENT BANKING
In the ever-evolving and volatile world of capital markets,
maintaining a competitive edge against the global markets
remained as challenging as ever in 2014. With a prominent
position in the banking industry, VakıfBank formulates
business strategies that are focused on investing customer
assets in the best way to generate optimal results,
developing customized solutions, and attaining greater
expertise in the use of advanced investment techniques.
As a result, VakıfBank is a highly-valued business partner
in money and capital markets for retail and corporate
customers.
BROKERAGE SERVICES FOR CAPITAL MARKETS
INSTRUMENTS
VakıfBank Investment Banking provides brokerage services
to customers for their capital markets transactions in stocks,
mutual funds, gold and VakıfBank-issued debt securities.
Developments in the markets are closely monitored
according to customer needs and expectations, and new
products and services are delivered to customers through
various channels.
All capital markets transactions other than equities can be
performed through any of the Bank’s branches, investment
centers, private banking branches, ATMs, mobile banking,
internet banking, and call centers. Equity transactions can
only be placed through investment centers, private banking
branches, mobile banking, internet banking, and call centers.
The systems infrastructure required for increasing the share
of alternative distribution channels in equity trading has
been completed, and mobile banking transactions will be
available in 2015 through mobile applications developed
exclusively for investment products.
In addition, through an agency agreement with its
subsidiary Vakıf Yatırım Menkul Değerler A.Ş., the Bank
acts as an intermediary in public offerings of equities and
corporate bonds, capital increases and dividend payment
transactions.
VakıfBank Investment Banking provides brokerage services to
customers for their capital markets transactions in stocks, mutual
funds, gold and VakıfBank-issued debt securities.
VAKIFBANK-ISSUED DEBT SECURITIES
In an attempt to diversify the Bank’s funding sources, reduce
interest rate risk, contribute to liquidity management,
increase the average maturity of liabilities, and provide
additional resources, VakıfBank obtained authorization from
the Capital Markets Board to issue a total nominal value
of TL 8 billion in bank bonds and bills of various types and
maturities in domestic and international markets. In 2014,
the Bank issued 20 bank bonds with a total nominal value
of TL 5.8 billion, solidifying its leading position in the sector.
VakıfBank bonds are presented to corporate and retail
investors as an alternative investment instrument.
MUTUAL FUNDS
With its founder status, VakıfBank currently offers 11
mutual funds, two Type A and nine Type B, to investors
in accordance with their individual risk profiles and return
expectations. The mutual funds can be traded without any
volume limitation through all branches, investment centers
and alternative distribution channels such as internet
banking, call centers, ATMs and mobile banking.
Under the administration of expert portfolio managers with
strategies tailored to meet the needs of its customers,
VakıfBank holds a 6.2% market share in mutual funds as of
2014, with total assets under management (AUM) of TL 2
billion.
GOLD BANKING AND GOLD DAYS
As one of the first banks to launch gold banking, VakıfBank
makes its 25 years of experience in this segment available
to customers through its branches as well as alternative
channels.
VakıfBank’s gold trading volume reached nearly 68 tons in
2014, with a gold reserve volume of 10.8 tons.
As part of VakıfBank Gold Days, initiated in early 2013 and
held every Wednesday, Cumhuriyet gold coins in quarters
and halves as well as all-carat gold jewelry including
bracelets, rings, and necklaces are assessed by gold experts
and corresponding amounts are deposited into customers’
Golden Era Accounts in grams of gold. Gold Days were
organized at 609 branches in 2014 and VakıfBank will
expand this initiative to more branches in 2015.
6.2%
VakıfBank holds a 6.2%
market share in mutual
funds as of 2014, with
total assets under
management (AUM) of
TL 2 billion.