Management

VakifBank is managed by its Board of Directors and its General Manager. The articles of association of VakifBank provide for the Board of Directors to have nine members appointed for a term of three years. Pursuant to recent changes made by Law No. 5387, the breakdown of the Board of Directors of VakifBank is determined according to its articles of association, except that one member of the Board (who is also the General Manager of VakifBank) is appointed by the Prime Minister to represent the GDF.

Pursuant to VakifBank’s articles of association, the Class A shareholders, Class B shareholders and Class C shareholders are entitled, respectively, to five, one and three representatives in the Board of Directors. Class D shareholders do not have direct board representation. In addition to the Board member appointed by the Prime Minister, three representatives of the Class A shareholders are currently nominated by GDF as the only Class A shareholder. The remaining representative of the Class A shareholders in the Board of Directors is an independent member elected by the General Assembly.

As the majority Class B shareholder, GDF further currently may appoint the representative of the Class B shareholders in the Board of Directors. The decision regarding the Board members to be appointed by GDF is taken at a meeting of the Board of Directors of GDF, which is in turn comprised of members appointed by the government. Two of the three representatives of the Class C shareholders in the Board of Directors are nominated by the majority of the Class C shareholders, currently VakifBank Pension Fund, while the other representative is an independent member elected by the General Assembly. The independent director shall be elected by the General Assembly from amongst the candidates nominated by the shareholders, however in nominating this candidate, choices of Class D Shareholders shall be given priority. Current board members were appointed by the general assembly dated March 31, 2006 and will remain as such until March 31, 2009, unless they are removed earlier by such general assembly. The following table sets out the current members of the Board of Directors, the date of their initial appointment to the Board and expiration date of their current term:

Hasan Sezer - Chairman

Hasan Sezer,52, graduated from A.I.T.I.A. Academy of Banking and Insurance. Prior to joining Vakifbank, he worked for various banks as Chairman and General Manager. He was appointed to the Bank as Chairman on March, 2010.

Ahmet Candan - Deputy Chairman, Board Member

Ahmet Candan, 47, graduated from Ankara University, Faculty of Political Sciences. He joined Vakifbank as Deputy Chairman on March, 2010. Before joining the Bank, he had worked for Ziraat Bankasi and various companies as Assistant General Manager and Board Member.

Süleyman Kalkan - General Manager, Board Member

Süleyman Kalkan, 54, graduated from Ankara University, Faculty of Political Sciences. Prior to joining Vakifbank, he worked for Isbankasi at various positions. He was appointed as General Manager on March, 2010.

Halim Kanatçı - Board Member

Halim Kanatçı. Mr. Kanatçı, 55,graduated from I.T.I.A, Business Administration. Prior to joining Vakifbank, he worked for various banks, Maltepe University, Maltepe Municipality and Marmara Education and Health Institution in various departments . He was appointed as Member of Board of Directors on April 28, 2009.

İsmail Alptekin - Board Member

Ismail Alptekin.Mr. Alptekin, 66, graduated from Istanbul University, Faculty of Law. He worked at various institutions and positions such as Ankara Bar Association, The Scientific and Technological Research Council of Turkey (TUBITAK) ,TGNA and Ankara Metropolitan Municipality. He was assigned as Board member in April 2009.

Sabahattin Birdal - Board Member

Sabahattin Birdal. Mr. Birdal, 58, graduated from Istanbul University, Faculty of Economics.Having served as a branch manager at VakifBank, he worked in various positions at other financial institutions.He was appointed as Member of Board of Directors on March 21, 2008.

Selahattin Toraman - Board Member

Selahattin Toraman, 55, graduated from Çorum Vocational High School, Department of Social Sciences. Previously, he worked for Vakifbank and its subsidiaries at various positions. He was appointed as Board Member on March, 2010.

Ramazan Gunduz - Board Member

Ramazan Gunduz. Mr. Gunduz, 58, graduated from A.I.T.I.A, Business Administration. He joined Vakifbank in 1977 and worked in various departments and positions. He has worked as General Manager of Vakif Financial Leasing and Vakif Real Estate Investment and he was appointed to the Board in April 2009.

Serdar Tunçbilek - Board Member

Serdar Tunçbilek. Mr. Tunçbilek, 46, has been a member of the Board of Directors in the Bank since 24.07.2007.Previously, he worked at different positions in Emlak Bankası, Egebank and served as Group Coordinator at Savings Deposit Insurance Fund (SDIF).Serdar TUNÇBİLEK is a graduate of the Faculty of Political Science at Ankara University and is the member of Bank's Audit Committee.

Executive Vice Presidents

In March 2010, Mr. Süleyman Kalkan was appointed as VakifBank’s General Manager. The Assistant General Managers and their areas of responsibility are as follows:

Birgül Denli - International Banking and Investor Relations, Private Banking

Ms. Denli, 40 graduated from ODTU (Middle East Technical University), Faculty of Science and Literature and has a post-graduate degree from London Metropolitan University. Ms. Denli was appointed as Assistant General Manager at VakifBank on June 15, 2006. Prior to joining VakifBank, Ms. Denli worked for Yapi Kredi Bank, Iktisat Bank, Maddox Financial Services Ltd, Citigroup (SSSB) and VakifBank International AG in various positions. Ms. Denli is currently responsible for International Relations and Private Banking.

Şahin Uğur - Support Services

Mr. Uğur, 53, graduated from Erzurum Ataturk University, Faculty of Economics and Administrative Sciences. He joined VakifBank in 1984 as an officer and has served in various positions. In August 2004, he was appointed as Assistant General Manager of VakifBank. He is currently responsible for Support Services.

Feyzi Özcan - Retail Banking, Retail Loans, Corporate Payroll

Mr. Özcan, 50, graduated from Gazi University, Faculty of Economics and Administrative Sciences in Ankara. He joined VakifBank in 1989 as an associate on the Board of Auditors and worked in various departments of VakifBank. In September 2005 he was appointed as Assistant General Manager. He is responsible for Retail Banking, Retail Loans, and Corporate Payroll.

Hasan Ecesoy - Treasury, Investment Banking

Mr. Ecesoy, 39, graduated from Uludağ University, Electronics Engineering, has a post-graduate degree from İstanbul University, Business Administration and has a Ph.D. from Marmara University, Economics. In June 2010, he was appointed as Assistant General Manager of Vakifbank. Prior to joining Vakifbank, Mr. Ecesoy worked for various banks and financial institutions including Ziraat Bank and Halk Investment.

Metin Recep Zafer - Planning and Performance, Accounting and Financial Affairs, Subsidiaries, Treasury and Foreign Operations, Banking Operations, Alternative Distribution Channels.

Mr. Zafer, 40, graduated from Gazi University and Marmara University, Faculty of Economics and Adminsitrative Sciences and has a Ph.D. from Marmara University in Banking and Insurance. Mr. Zafer joined VakifBank as an Assistant General Manager on June 13, 2006. Prior to joining VakifBank, Mr. Zafer was managing the Financial Control Division of Zıraat Bank. He is responsible for Accounting & Financial Affairs, Planning & Performance, Subsidiaries, Treasury & Foreign Operations, Banking Operations and Alternative Distribution Channels.

Mehmet Cantekin - Loans Follow-up, Regional Directorates

Mr. Cantekin, 41, graduated from Ankara University, Faculty of Political Sciences and has a post-graduate degree in Accounting from Illinois University. He joined VakifBank as Assistant General Manager on 27.12.2007, responsible for Loans Follow-up and Regional Directorates. Before joining VakifBank, he had worked for various banks and public institutions including BRSA.

Ömer Elmas - Legal Affairs, Legal Proceedings

Mr. Elmas, 33 graduated from Istanbul University, Faculty of Law, and has a post-graduate degree in Special Law from Kocaeli University. He has been studying for PHD on Private Law. He joined Vakifbank in 2006 as Legal Chief Counsel and assigned as Assistant General Manager on 05.01.2009. He is currently responsible for Legal Affairs and Legal Proceedings. Prior to joining Vakifbank, he worked for various companies in management positions.

Remzi Altınok - Corporate Loans, Commercial Loans, Enquiry

Mr. Altınok, 48, graduated from İstanbul University, Faculty of Political Sciences. He joined Vakifbank in 1991 and worked for different departments in various positions. In May 2010, he was appointed as Assistant General Manager and he is responsible for Corporate Loans, Commercial Loans and Enquiry.

İbrahim Bilgiç - Commercial Banking, Corporate Banking, Cash Management, Corporate Branches.

Mr. Bilgiç, 44, graduated from Gazi University Faculty of Economics and Administrative Sciences. He joined Vakifbank in 1992 and worked for different departments in various positions. In May 2010, he was appointed as Assistant General Manager and he is responsible for Commercial Banking, Corporate Banking, Cash Management and Corporate Branches.

Serdar Satoğlu-Human Resources, Bank Employee Pension and Health Assistance Fund

Mr. Satoğlu,38, graduated from Ankara University, Faculty of Political Sciences, has a post-graduate degree from Marmara University, Capital Market and Money Market, and has a Ph.D. from Marmara University, Banking and Insurance. He joined Vakifbank in 1995 as an Assistant Auditor and served for Vakif Menkul Kıymetler Yatırım Ortaklığı A.Ş. and Vakif Yatırım Menkul Değerler A.Ş. as a manager. In 2010, he was appointed as Assistant General Manager and he is currently responsible for Human Resources and Bank Employee Pension and Health Assistance Fund.

Ali Engin Eroğlu - Electronic Business Intelligence System (EBIS) Operations

Mr. Eroglu, 40, graduated from Bogazici University, Department of Computer Engineering and has a post-graduate degree in Computer Engineering from Gebze Institute of Technology. He joined Vakifbank as Asistant General Manager on 18.08.2010. He is currently responsible for Electronic Business Intelligence System (EBIS) Operations. Prior to joining Vakifbank, he worked for various companies in management positions.