- CEO
- Korhan Turgut
- Full Time Employees
- 18,209
- Sector
- Financial Services
- Industry
- Banks - Regional
- Address
- Saray Mahallesi Istanbul Türkiye 34768
- IPO Date
- Apr 6, 2011
- Business
- Türkiye Vakiflar Bankasi Türk Anonim Ortakligi is a Turkey-based bank established in 1954 and headquartered in Istanbul that provides a wide range of banking products and services targeting corporate, commercial, small and medium-sized enterprises (SMEs), agricultural, retail, and private banking segments. Its core offerings include deposit products such as time, demand, and term deposit accounts; a variety of loan products including mortgage, car, personal, and private banking yacht loans; insurance products encompassing housing, comprehensive, motor, compulsory traffic, travel, complementary health, and compulsory earthquake insurance; and pension-related products such as individual pension contracts, private pension agreements, and life insurance. The bank also delivers investment products and services including investment funds, government bonds, treasury bills, eurobonds, bank bonds, gold trading (including VakifBank Gold), stocks, derivative products like options, dual currency deposits, contingent options, currency swaps, and forward agreements. Türkiye Vakiflar Bankasi is active in investment banking, underwriting, financial leasing, factoring, and brokerage services via its subsidiaries like Vakif Yatirim Menkul Degerler AS, operating in Turkey and internationally.
Recent major developments include a significant paid-in capital increase effective from 2023 worth approximately TL 7.1 billion through allotted and cash capital increase, intensifying its capital base to support expanded operations. The bank has also maintained strategic focus on digital banking transformation and modernization of its service platforms to enhance customer experience and operational efficiency. Additionally, Vakifbank has pursued portfolio diversification through expanding its investment banking capabilities and broadening its insurance and pension product lines to better serve evolving market demands. These changes position the bank for sustained growth in Turkey’s banking sector and increased competitiveness on a regional scale. The bank operates under regulatory oversight and remains a key player in Turkey’s financial infrastructure, leveraging long-standing governmental and foundational ties in its governance and shareholder structure.