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CONTENTS
PART I: INTRODUCTION
08
Agenda of the 61
st
Ordinary General Assembly Meeting
09
2014 Profit Distribution Proposal and Dividend Policy
10
Compliance Opinion on the Annual Report
11
Declaration of Responsibility
12
VakıfBank in Brief
13
VakıfBank’s Cornerstones
14
History and Ownership Structure
16
Key Financial Indicators
18
Key Ratios
20
Message from the Chairman
22
Message from the General Manager
26
The World and Turkey in 2014
36
2014 at a Glance
38
Review of Operations in 2014
62
Corporate Social Responsibility
63
Affiliates and Subsidiaries
PART II: MANAGEMENT AND CORPORATE GOVERNANCE PRACTICES
66
Summary Report of the Board of Directors
68
Board of Directors and Auditors
72
Executive Management
75
Internal Control Systems Executives
76
Committees
78
Human Resources Practices
80
Outsourced Support Services
81
Transactions with the Bank’s Risk Group
82
Corporate Governance Principles Compliance Report
PART III: FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT
94
Statutory Auditor’s Report
95
Assessment of the Internal Systems and 2014 Operations
97
Risk Management Policies Applied by Risk Type
101
Independent Auditors’ Report, Unconsolidated Financial Statements, Explanations and Footnotes for the
Year Ended December 31, 2014
205
Independent Auditors’ Report, Consolidated Financial Statements, Explanations and Footnotes for the
Year Ended December 31, 2014
316
Evaluation of the Bank’s Financial Position, Profitability and Solvency
318
International Credit Ratings
319
Five-Year Summary Financial Information