VakıfBank proceed to diversify its funding structure by obtaining new funding sources in different currencies and maturities while expanding its investor base with structured finance products. VakıfBank plays a pioneer and innovative role among Turkish banks in this area by issuing long-term bonds in different structures and currencies to address different groups of investors in international capital markets since 2012.
VakıfBank is one of the most active and most effective Turkish bank that uses international funding sources. VakıfBank continued to finance the real sector with the long-term and cost-effective sources we provide under different structures such as Eurobond, Mortgage Covered Bond Program, project loan-backed financing and transactions under the securitization program.
Many first-of-a-kind deals we have introduced in the Turkish banking sector such as:
In April 2013, first GMTN program in Türkiye was established up to USD 3 billion
In June 2014, VakıfBank issued the first ever Euro denominated Eurobond of Türkiye apart from the sovereign with a final amount of EUR 500 million within the scope of the GMTN
In January 2015, first time ever Basel III Compliant Tier II transaction of USD 500 million with 10NC5 in Türkiye
In May 2016, EUR 500 million, first ever Mortgage Backed Covered Bond issuance in Türkiye
In October 2017, first TL denominated private placement Transaction under Covered Bond Programme, apart from those made with multinational development banks amounting TL 1,333 million with 5.5 years maturity
In September 2019, first ever TLREF indexed Tier II notes issuance with an amount of TL 725 million out of Türkiye
In February 2020, VakıfBank reinforced the positive investor perception by using the call option for Türkiye ’s first Basel III compliant Tier II notes which the Bank signed in January 2015, amounting USD 500 million and a 10 year-maturity together with the call option at the end of fifth year. This was an exemplary decision in the Turkish banking sector.
In August 2020, in scope of the “Emergency Firm Support Project”, VakıfBank secured long-term financing for the economy from the World Bank under the guarantee of the Ministry of Treasury and Finance with a maturity of 23 years, including a seven-year grace period, this facility stands out as the largest amount ever obtained in a single transaction from international development banks.
In December 2020, the first ever Sustainable Eurobond transaction issued by deposit banks amounting USD 750 million
In December 2020 VakıfBank signed a new loan agreement with AFD amounting EUR 200 million, representing the largest Green Mortgage Loan in the Turkish banking sector.
In April 2021, the first sustainable syndication loan agreement with an amount of USD 1.1 billion in equivalent in the Bank’s history
In March 2024, VakıfBank successfully executed a Diversified Payment Rights (DPR) securitization transaction exceeding USD 700 million, comprising EUR 350 million and USD 330 million, marking the largest outright DPR securitization ever undertaken by a Turkish bank.
In July 2024, VakıfBank successfully completed the Tier II issuance of a USD 700 million, thereby becoming the bank that issued the highest volume of subordinated bonds in 2024.
In April 2024, the first additional Tier 1 capital issuance amounting USD 550 million to international fixed income investors as a market transaction among state banks
In June 2024, the Tier 2 issuance amounting USD 700 million, with 10-year maturity
In October 2024, VakıfBank further reinforced its leading position in sustainable Eurobond issuances with its first transaction since 2020. The USD 500 million issuance, maturing in 5.25 years, was nearly three times oversubscribed by investors from across the globe, resulting in a final yield that tightened 30 basis points below the initial price thoughts (IPT).
In February 2025, VakıfBank successfully completed a Diversified Payment Rights (DPR) securitization transaction totaling USD 700 million, with a 10-year maturity and a 4-year grace period. Targeting institutional investors, this deal represents VakıfBank's longest-term securitization in recent years.
In October 2025, VakıfBank has successfully completed its second Diversified Payment Rights (DPR) transaction of the year in October. Structured in two tranches, EUR 425 million and USD 524 million, the transaction brings the Bank’s total DPR funding for 2025 to USD 1.7 billion
In July 2025, VakıfBank has successfully completed the first sustainable Eurobond issuance of the year, strengthening its leading position in this field; thereby bringing its total size to over USD 3.25 billion.
In October 2025 VakıfBank, has successfully completed the issuance of USD 500 million additional Tier 1 notes, targeted at international institutional investors. It’s the second issuance of the year by VakıfBank to international investors.
In December 2025, under the “Climate Transition and Reconstruction Facility” VakıfBank has secured USD 300 million in long-term financing from the Asian Infrastructure Investment Bank (AIIB), with a 10-year maturity. Marking a significant milestone, this transaction represents VakıfBank’s first-ever financing agreement with AIIB, further expanding its strong partnerships with multilateral development institutions and underscoring the Bank’s continued commitment to diversifying its sustainable, long-term funding sources.
In December 2025, VakıfBank has executed the largest financing transaction ever between a Turkish bank and international development institutions, in collaboration with the World Bank, marking also the highest loan ever extended by the World Bank to a financial institution in Türkiye. The transaction provides EUR 1.5 billion in 10-year funding, backed by a World Bank guarantee, designed to support all segments of society with a particular focus on empowering women and young people.
