Message from the Chairman
AS VAKIFBANK, WE STEADFASTLY CONTINUE OUR STRONG SUPPORT FOR THE TURKISH ECONOMY.
By maintaining our solid capital structure, we increased our equity to TL 322 billion.
Dear Stakeholders,
The year 2025 was marked by efforts to rebalance the global economy and combat inflation. In the face of trade tensions, geopolitical uncertainties, and tight financial conditions, the global economy exhibited greater resilience than expected—according to the World Bank, global growth stood at 2.7% in 2025 and is expected to reach 2.6% in 2026.
During this period, in the United States, investments in technology, artificial intelligence, and automation supported growth; the Fed lowered its policy rate to 3.75% in December 2025, while annual inflation declined to 2.7%. In the Eurozone, growth continued with the support of ECB rate cuts and fiscal policy measures. The Eurozone economy grew by 1.5% in 2025, with inflation at 2%. In China, as the PBoC maintained interest rates with a cautious stance prioritizing financial stability, it also accelerated steps toward international financial integration through the digital yuan.
Türkiye’s economy reestablished its macroeconomic balances through a formidable coordination of fiscal discipline and monetary policy. Recording 3.6% growth in 2025, the economy reached an annual GDP of TL 63.0 trillion at current prices. The CBRT reduced its policy rate to 38% in December 2025, supporting price stability, while gross reserves achieved record levels. Inflation declined to 30.89% in December, and both market and household expectations improved. These developments are considered tangible gains in the fight against inflation.
Financial indicators also followed a positive trajectory. The country risk premium (5-year CDS) declined to 204 basis points, reaching its lowest level in the past 7.5 years and strengthening confidence among international investors. International institutions revised their growth forecasts upward for Türkiye, confirming the credibility of the implemented policies and reforms.
In accordance with our vision of standing by the real sector—which produces, exports, and creates employment—we provided more than TL 3.8 trillion in cash and non-cash financing to the economy.
A key driver of economic activity, the Turkish banking sector continued to support the real economy in 2025 with an increasing share of TL deposits and a solid capital structure. According to BRSA data, the sector’s total assets reached approximately TL 47 trillion. Financing provided to the real sector through cash and non-cash loans exceeded TL 32 trillion, while deposits—the sector’s main funding source—surpassed TL 27 trillion.
As VakıfBank, we steadfastly maintained our strong support for the Turkish economy. In 2025, we increased our total assets by 34% year-on-year, reaching TL 5.4 trillion. In line with our vision of standing by the real sector, which produces, exports, and creates employment, we provided more TL 3.8 trillion in cash and non-cash financing to the economy. By maintaining our solid capital structure, we raised our equity to TL 322 billion.
Drawing strength from our deep-rooted heritage and our innovative solutions, we will continue to contribute to Türkiye’s sustainable development and growth in 2026. On this occasion, I would like to extend my sincere thanks to our customers who trust us, our valued shareholders, and our employees, who are central to our success.
Sincerely,
Mustafa SAYDAM
Chairman of the Board