Recent News

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : VakifBank April 2012 Dual Tranche Dual Currency Club Loan
Date : 11.04.2012

Under the coordination by Wells Fargo NA, and ING Bank N.V London Branch as a facility agent, Vakifbank has signed a new syndication loan agreement that amounts USD 152 million and € 586,7 million in a ceremony participated by 41 banks from 19 countries with senior management. The total cost of the one-year term loan composed of two tranches in US$ and EURO is LIBOR/ EURIBOR + 1,45%. The purpose of the first syndication loan in 2012 will be foreign trade financing.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Sale of VakifBank’s share in Roketsan Roket Sanayii ve Ticaret A.Ş
Date : 10.04.2012

As per December 13, 2011 dated resolution of the VakifBank Board of Directors, it was decided to sell VakifBank’s 10% share in Roketsan Roket Sanayii ve Ticaret A.Ş which has a nominal value of TL 14.600.000, and a full authority had been granted to Head Office to execute necessary procedures including assignment of a consultant within this context. VakifBank’s Board of Directors, at its meeting held on April 06, 2012 decided to assign Ernst Young Kurumsal Finansman Danışmanlık A.Ş. as a consultant.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : New Deputy Chairman of the VakifBank Board of Directors and Members of Audit Committee
Date : 09.04.2012

It is decided on the Board of Directors’ meeting held on April 6th, 2012, Mr. Halim Kanatcı to become the Deputy Chairman of the VakifBank Board of Directors and the Member of Audit Committee, Mr Ali Fuat Taşkesenlioğlu to become the Member of Audit Committee.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : VakifBank Annual General Assembly
Date : 02.04.2012

VakifBank’s 58th Annual General Assembly took place in İstanbul on March 30th, 2012.

1. Independently audited 2011 balance sheet and profit/loss accounts were examined and approved.
2. Members of the Board of Directors and auditors were discharged seperately regarding 2011 operations.
3. In accordance with Article 9 of the Bank’s Charter Act and with Article 84 of the Bank’s Articles of Incorporation; distribution of TL 37.000.000,00 to shareholders which is 3,4223% of the distributable profits TL 1.081.135.662,16 after deducting TL 25.523.621,97 deferred tax asset net revenues from TL 1.226.785.468,81 total net profits of 2011 as presented in the profit distribution table as of 31.05.2012, distribution of TL 97.000.000,00 personnel dividend which was provisioned in 2011 and transferring TL 33.496.869,39, which is 75% of the TL 44.662.492,52 in proceeds received from the sale of subsidiaries and real estate properties disposed of during 2011, to be tracked in a special liability-side reserve account pursuant to Article 5/1-e of the Corporate Tax Law No. 5520 were approved.
4. Election of Mr.Halil Aydoğan as a (Group A) Board Member In order to fill the unexpired term and vacant position of Mr.Hasan Sezer, Chairman and Group A Board Member resigned on February 21, 2011 were approved.
5. Halil AYDOĞAN and Ahmet CANDAN representing Group(A), Adnan ERTEM representing Group (B), Sadık TİLTAK representing Group (C) and independent members İsmail Alptekin, Ramazan GÜNDÜZ and Ali Fuat TAŞKESENLİOĞLU have been appointed as members of the Board of Directors of the Bank in accordance with the 48th article of the Articles of Association of T. Vakıflar Bankası T.A.O. for a period of three year.
6. In accordance with the title 43 of Bank’s Articles of Association; Mehmet HALTAŞ and Yunus ARINCI were elected as Supervisory Board Members representing Class A and C respectively while İbrahim POLAT and Kazım ŞİMŞEK were elected for Reserve Supervisory Board memberships, representing Class A and C respectively.
7. The compensation of the Chairman and Members of the Board of Directors are determined as TL 8.000,00 net per month and statutory auditors' compensation as TRY 5.750,00 net per month for year 2011 and it was determined to continue distributing bonus payments four times in a year in an amount of their monthly net salary.
8. The renewal of agreement with KPMG for the independent audit of 2012 financials was approved.
9. The General Assembly was informed regarding the contributions and donations (scholarships, educational aids, contributions to social foundations) of TL 1.682.887,14 based on the decision and authorization of the Board of Directors.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Election of the Chairman of the Board of Directors
Date : 02.04.2012

VakifBank’s Board of Directors elected Mr. Halil AYDOGAN as the Chairman of the Board among its newly elected members on its first meeting following the VakifBank’s 58th Annual General Assembly took place on March 30th, 2012.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : VakifBank Annual General Assembly
Date : 02.04.2012

VakifBank’s 58th Annual General Assembly took place in İstanbul on March 30th, 2012.

1. Independently audited 2011 balance sheet and profit/loss accounts were examined and approved.
2. Members of the Board of Directors and auditors were discharged seperately regarding 2011 operations.
3. In accordance with Article 9 of the Bank’s Charter Act and with Article 84 of the Bank’s Articles of Incorporation; distribution of TL 37.000.000,00 to shareholders which is 3,4223% of the distributable profits TL 1.081.135.662,16 after deducting TL 25.523.621,97 deferred tax asset net revenues from TL 1.226.785.468,81 total net profits of 2011 as presented in the profit distribution table as of 31.05.2012, distribution of TL 97.000.000,00 personnel dividend which was provisioned in 2011 and transferring TL 33.496.869,39, which is 75% of the TL 44.662.492,52 in proceeds received from the sale of subsidiaries and real estate properties disposed of during 2011, to be tracked in a special liability-side reserve account pursuant to Article 5/1-e of the Corporate Tax Law No. 5520 were approved.
4. Election of Mr.Halil Aydoğan as a (Group A) Board Member In order to fill the unexpired term and vacant position of Mr.Hasan Sezer, Chairman and Group A Board Member resigned on February 21, 2011 were approved.
5. Halil AYDOĞAN and Ahmet CANDAN representing Group(A), Adnan ERTEM representing Group (B), Sadık TİLTAK representing Group (C) and independent members İsmail Alptekin, Ramazan GÜNDÜZ and Ali Fuat TAŞKESENLİOĞLU have been appointed as members of the Board of Directors of the Bank in accordance with the 48th article of the Articles of Association of T. Vakıflar Bankası T.A.O. for a period of three year.
6. In accordance with the title 43 of Bank’s Articles of Association; Mehmet HALTAŞ and Yunus ARINCI were elected as Supervisory Board Members representing Class A and C respectively while İbrahim POLAT and Kazım ŞİMŞEK were elected for Reserve Supervisory Board memberships, representing Class A and C respectively.
7. The compensation of the Chairman and Members of the Board of Directors are determined as TL 8.000,00 net per month and statutory auditors' compensation as TRY 5.750,00 net per month for year 2011 and it was determined to continue distributing bonus payments four times in a year in an amount of their monthly net salary.
8. The renewal of agreement with KPMG for the independent audit of 2012 financials was approved.
9. The General Assembly was informed regarding the contributions and donations (scholarships, educational aids, contributions to social foundations) of TL 1.682.887,14 based on the decision and authorization of the Board of Directors.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Profit Distribution Table of 2011
Date : 02.04.2012

Profit distribution for 2011 is presented below in the summary table.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Dividend distribution schedule
Date : 15.03.2012

At its meeting dated 14 March 2012, the Bank’s Board of Directors reached the following resolution:

To submit the following actions for the approval of the General Assembly of Shareholders:

To distribute TL 37.000.000,00 to shareholders which is 3,4223% of the distributable profits TL 1.081.135.662,16 after deducting TL 25.523.621,97 deferred tax asset net revenues from TL 1.226.785.468,81 total net profits of 2011, in accordance with Article 9 of the Bank’s Charter Act and with Article 84 of the Bank’s Articles of Incorporation, as presented in the profit distribution table below,

To start the payments of the dividend as of 31.05.2012,

To transfer TL 33.496.869,39, which is 75% of the TL 44.662.492,52 in proceeds received from the sale of subsidiaries and real estate properties disposed of during 2011, to be tracked in a special liability-side reserve account pursuant to Article 5/1-e of the Corporate Tax Law No. 5520.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : VakifBank Annual General Assembly
Date : 29.02.2012

VakifBank's 58th Annual General Assembly for 2011 will take place on March 30th, 2012 at 14:30 p.m in the conference hall at the additional service building of the Headquarters which is located on Sanayi Mahallesi Eski Büyükdere Caddesi Güler Sokak No: 51 Kağıthane/İSTANBUL. A copy of the agenda is written below.

The Agenda of Ordinary General Assembly on March 30, 2011:

1. Opening and the formation of presidency council,
2. Authorization of the President and vote collectors for the signing of General Assembly Minutes,
3. Readings and consultation of reports by Board of Directors, Auditors and Court of Accounts on 2011 financials,
4. Reading, consultation and approval of independent auditor financial reports for year 2011 in regards,
5. Discharge of the Members of the Board of Directors regarding the 2011 financials,
6. Discharge of the Members of the Auditors regarding the 2011 financials,
7. The acceptance or decline of the dividend distribution proposal by the Board of Directors,
8. Approval of assignments to the Board of Directors for places which became vacant during the year,
9. The renewal of elections for the Board of Directors,
10. The renewal of elections for the Auditors,
11. Determination on the compensation of the Chairman, the Board of Directors and the Auditors,
12. Approval of the external audit firm election by General Assembly
13. Presentation of donations made during the year to the shareholders
 

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : VakifBank YE 2011 Financials
Date : 14.02.2012

VakifBank achieved a net profit of TL 1,227 million which is year on year up by 6% while net profits of the banking sector is down by 10%. Total asset size hit TL 89,2 billion with an increase of 20,6%. The cash loans of the bank reached to TL 57,2 billion growing by 27,6%.

VakifBank continued supporting the economy through TL 72,9 billion financing which is the total of cash and non-cash loans. Maintaining a net profit of TL 1,227 million in 2011, the bank's total assets reached to TL 89,2 growing by 20,6%. While the cash loans were up by 27,6% and amounted TL 57,2 billion, total deposits reached to TL 61 billion growing by 27,8% which is well above the sector avarage.

VakifBank's CEO Suleyman KALKAN stated:
"While the net profits of the banking sector dropped by 10% in , we have outperformed the sector by increasing our net profits 6% to TL 1,227 million in 2011 as the unsolved debt crises of Europe continued, macroeconomic concerns about developing countries increased, market fluctuations were seen and tightening measures were applied.

We have doubled the size of the total loans issued to SMEs with the help of the KOBIDOST Project which was initiated in 2011. The high growth in SME lending proves our trust to SMEs which are the engines of the Turkish economy.

Total retail loans reached to TL 21,1 billion which is up by 41,5% above the sector average. We continued our solid performance especially in general purpose consumer loans and residential mortgage loans where we grew by 37,4% and 47,6% respectively in line with our strategic plan and we increased our market share in retail loans.

Delivering a great performance in terms of asset quality which is one of priorities; we have dropped our NPL ratio from 4,8% in 2010 to 3,6% in 2011 without any asset sale or write-off. We aim to increase our assets by 15%, loans by 17% and deposits by 12% in 2012.

In 2011, we have implemented a very crucial decision for our bank in its history. We moved our headquarters to İstanbul where will be the International Finance Centre in the future. We will extend our exposure in İstanbul by moving our IT departments too in the first half of 2012. Moving to İstanbul in order to provide best banking services to our clients and to become a more competitive bank is very important for us. We continued to expand our branch network in 2011, reaching to 680 branches and over 12,000 employees. We aim to employ over 1,000 new employees focusing on organic growth in İstanbul and Marmara region.

VakifBank Gunes Sigorta Turk Telekom has been the champion of CEV Champions League Women 2011, on behalf of Turkey for the first time. We greatly appreciate VakifBank Gunes Sigorta Turk Telekom's leading achievement in the Turkish volleyball history. Continuing its success, the team advanced to the quarter-final this year. We are the best candidate for the championship this year. We believe that our team will fill us with pride again by having the championship."

Selected Unconsolidated Financial Indicators of VakifBank (December 31, 2011)

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Authorization for Bond Issuance
Date : 14.02.2012

On its meeting held on February 9th, 2012; The Board of Directors of VakifBank decided to authorize the Head Office to issue bills with a nominal value of TL 3 billion with different kinds and maturities via one or more domestic public offering in Turkey and to apply to Banking Regulatory and Supervision Agency, Capital Markets Board and to other legal authorities within the framework of the related issuance.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : VakifBank Conference Call -YE 2011 Earnings Results- on 14.02.2012
Date : 10.02.2012

You are kindly invited to participate in a conference call on Tuesday, February 14 at 18:00 PM Turkish time (16 PM UK time, 11 AM ET) following the announcement of YE 2011 financial results. The event will be hosted by Ms. Birgul DENLI, Executive Vice President responsible for International Banking and Investor Relations and Q&A session will follow the presentation.

To attend the meeting,

You should dial one of the following numbers;

1 866 907 59 28 USA (Toll Free)
+90 2162171202 TURKEY (Toll)
+44 – 2033679457 UK (Toll)
0808232381773 UK (Toll Free)

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Redemption of Domestic Bonds
Date : 31.01.2012

Bonds publicly offered by Türkiye Vakiflar Bankası T.A.O on 3-4-5 August 2011 with a nominal value of TL 500,000,000, term of 176 days and ISIN Code of TRQVKFB11218, and by the permission of the Capital Markets Board dated 19 July 2011, nr. B.02.6.SPK.0.13.00-105.03.01-1422-7226, as per the Board Registry Document 20/BB-675, matured as of today (31.01.2012)and they are redeemed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Termination of the process for the block sale of shares in Taksim Otelcilik A.Ş
Date : 31.01.2012

As per June 17, 2010 dated resolution of the Board of Directors, it was decided to sell 51% share in Taksim Otelcilik A.Ş., a subsidiary of VakifBank, to domestic or foreign investors through block sale and full authority had been granted to Head Office to execute necessary procedures including assignment of a consultant within this context.
After having considered that the sale process of Taksim Otelcilik A.Ş to be retried in the upcoming periods through block sale or revaluation method; VakifBank’s Board of Directors, at its meeting held on January 26, 2011 decided to terminate the process for the block sale of its shares in Taksim Otelcilik A.Ş and the discharge of the Taksim Otelcilik Block Sale Commission.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Redemption of Domestic Bonds
Date : 31.01.2012

Bonds publicly offered by Türkiye Vakiflar Bankası T.A.O on 3-4-5 August 2011 with a nominal value of TL 500,000,000, term of 176 days and ISIN Code of TRQVKFB11218, and by the permission of the Capital Markets Board dated 19 July 2011, nr. B.02.6.SPK.0.13.00-105.03.01-1422-7226, as per the Board Registry Document 20/BB-675, matured as of today (31.01.2012)and they are redeemed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Results of the domestic 1 billion TL bond issuance
Date : 30.01.2012

The domestic bond issuance of VakifBank with a nominal value of 1 billion TL and a term of 178 days (by the permission of the Capital Board Market dated 12 January 2012, as per the Board Registry Documents 2/BB-675) has been completed through Vakif Invest A.Ş. at 25-26-27 January of 2012. The issuance received 192% demand from retail and institutional clients. The results of the issuance are shown at the following tables.

Final Interest Rate and Price

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : New Chairman of the VakifBank Board of Directors
Date : 05.01.2012

It is decided on the Board of Directors’ meeting held on January 5th, 2012; Mr. Halil AYDOGAN to become the Chairman of the VakifBank Board of Directors

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank

To : Investor Community
From : VakifBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@VakifBank.com.tr
Subject : Election of Mr.Halil Aydoğan as a (Group A) Board Member
Date : 04.01.2012

In order to fill the unexpired term and vacant position of Mr.Hasan Sezer, Chairman and Group A Board Member resigned on February 21, 2011; VakifBank’s Board of Directors, at its meeting on January 4, 2012 decided to present the election of Mr.Halil Aydoğan as a (Group A) Board Member to the approval of shareholders on the forthcoming General Assembly meeting.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank