Integrated Annual
Report 2024
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About
VakıfBank
About the Report
Message from the Chairman
Message from the General Manager
VakıfBank in Brief
VakıfBank’s Cornerstones
VakıfBank in Figures
History and Ownership Structure
Amendments to the Articles of Association
Declaration of Responsibility
2024 Awards
Integrated Thinking
in VakıfBank
The World and Türkiye in 2024
Turkish Economy
Banking Sector
Trends and Highlights in the Banking Sector
Our Material Topics and Sustainability Approach
Our Value Creation Model
Our Performance Indicators by Capital Elements
Value Created for VakıfBank
Value Created for Stakeholders
Our Medium- and Long-Term (3 to 5 Years) Goals
Our Contributions to Sustainable Development Goals and Our Strategies
Our Capital
Elements
Our Financial Capital
Financial and Economic Performance
Easy Access to International Funding
Responsible Finance and Sustainable Development
Our Intellectual Capital
Digital Transformation and Innovation
Internet Banking and Mobile Banking
Information Technologies
Business Continuity and Customer Information Security
Applications and Innovations
Our Manufactured Capital
Financial Inclusion
Our Social and Relational Capital
Customer Experience and Satisfaction
Stakeholder Engagement and Transparency
Corporate Social Responsibility in VakıfBank
Responsible Supply Chain
Affiliates and Subsidiaries
Our Human Capital
Employee Engagement and Satisfaction
Human Rights, Equal Opportunity, and Diversity
Remuneration and Benefits
Safe Working Environment
Capacity Building and Talent Management
Employee Development and Training
Recruitment of Young Talents
Our Natural Capital
Climate Change and Environmental Performance of the Bank
Corporate
Governance
Corporate Governance
Summary Report of the Board of Directors
Board of Directors
Board of Auditors
Executive Management
Internal Control Systems Executives
Financial Rights
Committee Structures and Policies
Committees
Outsourced Support Services
Transactions with the Bank’s Risk Group
Corporate Governance Principles Compliance Report
(141KB)
Statutory Auditors’ Report
Statements of Independence
Assessment of the Internal Systems and Operations
Risk Management
Risk Management Policies Applied by Risk Type
Ethical Principles of Banking
Compliance and Audit
Prevention of Laundering of Criminal Proceeds and Terrorism Financing
Anti-Bribery and Anti-Corruption
Sustainability Management
Compliance Opinion
Independent Assurance Statement
Financial
Information
Unconsolidated Financial Statements Related Disclosures at December 31, 2024 Together with Independent Auditors’ Report
(2.6MB)
Consolidated Financial Statements Related Disclosures at December 31, 2024 Together with Independent Auditors’ Report
(3.6MB)
International Credit Ratings
Evaluation of the Bank’s Financial Position, Profitability and Solvency
Index of Annexes
Contact
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Great Achievements Are
Accomplished by Big Thinkers
Türkiye’s largest publicly traded bank
VakıfBank Integrated Annual Report 2024
Message from the Chairman
WE STAND BY
TÜRKİYE’S
SUSTAINABLE
AND STRONG GROWTH.
Mustafa SAYDAM
Chairman of the Board
VakıfBank increased its shareholders’ equity by 28%, reaching TL 219.2 billion.
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Message from the General Manager
VAKIFBANK
REMAINED
COMMITTED TO
TÜRKİYE’S
BALANCE SHEET.
Abdi Serdar ÜSTÜNSALİH
General Manager
With over TL 4 trillion in assets, we are Türkiye’s largest publicly traded bank.
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Our Mission
Continuously increasing the value created
for customers, employees, shareholders
and society by managing its assets and the
values entrusted with in an effective and
efficient manner with the strength of its
foundation culture.
Our Vision
Being the Leader Bank
of Strong Türkiye
Our Core Values
Reliability
Social responsibility
Result oriented
Customer oriented
Innovative approach
Team spirit
Loyalty
Leadership
Our Financial Capital
Total Assets:
TL 4 trillion
Total Amount of Cash and
Non-Cash Loans:
TL 2.7 trillion
Capital Adequacy Ratio:
16.11%
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Our Intellectual Capital
Total Number of Customers in Digital
Channels:
14,402,413
Amount of Products/Services with
Trademark Registration in 2024:
34
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Our Manufactured Capital
Number of Branches:
963
Number of ATMs:
4,100
Number of ATMs for Barrier-free Life:
4,100
Share of Transactions from ADCs:
97.59%
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Our Social and
Relational Capital
New Customers Acquired:
1,428,576
Children Trained in VakıfBank Sports
Schools:
1,300
Number of Published Books:
75
Awards Received in Sports:
9
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Our Human Capital
Ratio of Female Employees:
51.82%
Average Training Time per Employee:
45.90 hours
Employee Turnover Rate:
3.03
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Our Natural Capital
Total Number of ISO 14001 Certified
Locations:
All Bank Locations
Energy Consumption per Employee:
3.34 MWh/person
Water Consumption per Employee:
12.38 cubic meters
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Our Value Creation Model
Driven by the vision of a sustainable economy, sustainable environment, and sustainable society, we continue to create value.
VakıfBank in Figures
SUSTAINABLE
GROWTH PERFORMANCE
Change in Total Assets
2023
66.4%
2024
43.8%
Change in Cash Loans
2023
60.6%
2024
34.0%
Change in Total Deposits
2023
74.0%
2024
29.4%
Change in Securities Issued
2023
69.4%
2024
80.6%
Change in Shareholders’ Equity
2023
60.2%
2024
27.9%
Capital Adequacy Ratio
2023
15.09%
2024
16.11%
Average Training Time per
Employee (Hours)
2023
39.44
2024
45.90
Number of ATMs for
Barrier-free Life
2023
4,055
2024
4,100
Employee Turnover Rate
2023
3.03
2024
3.03
Renewable Energy Finance
Funded (TL billion)
2023
5.2
2024
13.7
Share of Transactions
from ADCs
2023
97.80%
2024
97.59%
Ratio of Female Employees
2023
50.97%
2024
51.82%
