Donation and Aid Policy

VakıfBank may aid financially and donate to people, foundations, civil society organizations, public  organizations and institutions that are engaged in education, sports and art fields as a reflection of its  “Foundation” culture and also within the perception of corporate social responsibility in accordance  with the principles set forth in the Banking Law No.5411.

As per the Article 59 of Banking Law No.5411, the amount of the donations to be granted by the  banks and their consolidated affiliates in a fiscal year shall not exceed four per thousand of the  banks’ total equities. However, it is an obligation that at least half of the granted donations and aids shall consist of payments that can be considered as expenditures or discounts while determining corporate tax base. Methods and principles regarding the implementation of this provision are  determined by Banking Regulation and Supervision Agency.

With the purpose of presenting its corporate identity or extending its banking operations, VakıfBank  may donate in cash or in kind to people including the Bank’s customers, foundations, civil society  organizations, public organizations and institutions. 

VakıfBank directly engages in public services and on the other hand aids financially destitute people with its ‘’Foundation’’ culture based on an establishment aim of social solidarity and cooperation. As  a requirement of its ‘’Foundation’’ culture, VakıfBank shall grant donations and aids in the areas that  improve the vision of the individual and society, raise solidarity and cooperation in society pursuant  to its mission and policies and by considering its Ethical Principles. 

All of the donations and aids within the each fiscal year are submitted to the information of shareholders and beneficiaries as a separate agenda item in the General Assembly Meeting of the  relevant year and disclosed to the public in the Annual Report within the context of the Donation and  Aid Policy principles, Banking Law and other related legislation