As VakıfBank, we shape all our activities with the goal of creating long-term value for our employees, customers, investors, business partners, and the society in which we operate. In our decision-making processes, we evaluate economic, environmental, and social impacts with a holistic perspective, prioritizing sustainable growth and the creation of shared value. Our value-oriented approach forms the foundation of our vision to leave lasting and positive impacts not only for today but also for future generations.
As VakıfBank, we value equal opportunity and diversity in the workplace and across all areas of our operations, and we do not allow discrimination based on language, ethnicity, age, gender, political opinion, belief or other differences. This approach applies not only to our employees but also to our customers, suppliers and all stakeholders. In addition, we provide our employees with equal opportunities and rights; we support Initiatives to recruit from diverse talent and grant extensive rights to our female and employees with special needs, provide training and guidance on diversity and support the development of our employees through mentorship programs.
We conduct our corporate practices within the framework of the United Nations Universal Declaration of Human Rights, the United Nations Sustainable Development Goals (SDGs) and the principles of the International Labour Organization (ILO). In our business processes, we adopt respect for differences as a fundamental principle, and we aim to facilitate the professional lives of individuals with special needs by providing the necessary infrastructure across all our branches.
Within the scope of our policies supporting gender equality and women’s empowerment, we are a signatory of the United Nations Women’s Empowerment Principles (WEPs), becoming the first public institution in Türkiye to sign this agreement. In addition, as an advocate of gender equality in working life, we are also a signatory of the Declaration of Equality at Work. Since 2020, we have been included in the Bloomberg Gender Equality Index (Bloomberg GEI). In line with our corporate strategy to support women’s participation in the workforce, our Bank aims to maintain a female employee ratio above 50%, a target we have been achieving for many years. Accordingly, we pay special attention to ensuring a high proportion of women in new recruitments. Within this scope, in 2024, 51.82% of our employees are women.
In order to enhance our social impact, we prioritize contributing to society through social responsibility projects, as well as initiatives such as VakıfBank Volleyball Schools, where we support educational and sports opportunities for girls. In line with this approach, we aim to foster equal opportunity and inclusiveness among all our stakeholders, while promoting a fair and equitable working environment.
As VakıfBank, we prioritize enhancing the competencies of our employees and acquiring new talents in order to achieve our strategic goals and maintain a sustainable competitive advantage in the sector. In line with this, we provide opportunities aligned with our employees’ potential through performance evaluations, career planning and training and development programs. At VakıfBank, we ensure that our employees’ innovative approach and continuous learning foster both corporate and individual growth, strengthen collaboration and teamwork and support alignment with corporate strategies by translating strategic corporate goals into individual objectives through the Performance Management System. Through an annual competency assessment, we identify individual training and development needs and offer career opportunities to our employees.
In line with our human resources policies, we consider supporting our employees’ professional, technical and personal development and contributing to sustainable business efficiency as a fundamental priority. Accordingly, we conduct a comprehensive training needs analysis based on the Bank’s strategic goals and the competencies expected from our employees. Based on the results obtained, we offer training programs that strengthen our employees not only in professional and technical areas but also in their personal development. These programs are enriched with flexible and innovative content accessible through digital platforms, in addition to in-class and virtual classroom trainings. Our aim is to increase employees’ knowledge while facilitating adaptation to changing business conditions and enabling them to contribute more effectively to the Bank’s corporate objectives.
To keep our employees informed on topics such as banking, innovation, leadership, management, personal integrity and current events in Türkiye and the world, we have organized VMeets events via online meeting applications. In addition, in line with our digital facilitator approach, we have launched the VTube corporate video viewing platform, bringing together all video content prepared for our Bank under a single platform.
As VakıfBank, with our vision of being a public bank and our sense of social responsibility, we also aim to contribute to the development of young talents. Within this scope, we actively participate in seminars, panels, and workshops organized at universities, introducing students to the Bank and the financial sector. We support young people in developing their talents through innovation and problem-solving activities such as “Hack to the Future.” Our internship programs enable students to gain real work experience and support their career planning. Additionally, we foster partnerships with universities and academic institutions to encourage knowledge sharing and talent development.
To improve societal financial literacy, we aim to increase the financial awareness of students, young professionals and the general public through content published on our Bank’s blog and educational platforms. These efforts aim to contribute not only to the development of our employees but also to young people and stakeholders, create social impact and build a sustainable business ecosystem.
We determine our remuneration policy within the Bank in line with the level of risk undertaken and responsibilities assumed at each level, ensuring fair remuneration by safeguarding the fundamental rights of our employees and we provide various benefits. We review our remuneration policy once a year and when determining compensation for each manager and employee, we prioritize alignment with our ethical values, internal balance and strategic objectives, while ensuring that compensation is not solely linked to short-term performance.
Salaries and salary increases are determined through the Collective Bargaining Agreement with the Bank Finance and Insurance Employees Union (BASS) for covered employees and by the decision of the Board of Directors for non-covered employees. We closely monitor sectoral developments, conduct comprehensive data analyses and regularly evaluate our position in the sector in line with the results of banking sector salary research prepared by independent institutions.
In addition to salaries, we provide our employees with bonuses, performance premiums, profit-sharing, health insurance covering family members and various types of leave to address fundamental needs. Alongside the base salary, referred to as the “Basic Salary,” we make additional payments such as duty allowances, foreign language allowances, licensing, and expertise compensation, considering the duties and responsibilities undertaken by employees.
Furthermore, in addition to offering our employees the opportunity to participate in the individual pension system, we also contribute within the framework of the Employer-Contributed Individual Pension Plan.
To differentiate ourselves in the financial sector and achieve a competitive advantage, we provide our employees with a happy, safe and supportive work environment. In this regard, we support employee development and implement initiatives that address their needs and expectations. We conduct internal customer satisfaction surveys along with employee engagement and satisfaction surveys.
Our Employee Engagement Survey is designed to understand employees’ trust in and loyalty to our Bank’s brand and image, their work-life balance, their views on performance management, salary, training and development opportunities and their evaluations of their managers. Participation in this survey is not limited to our Bank’s employees; it also includes employees from Vakıf Finansal Kiralama AŞ, Vakıf Faktoring AŞ, Vakıf Yatırım Menkul Değerler AŞ, Vakıf Gayrimenkul Değerleme AŞ, Vakıf Pazarlama San. ve Tic. AŞ, and Vakıf Gayrimenkul Yatırım Ortaklığı AŞ operating under the VakıfBank Financial Group.
Within the scope of Employee Experience, we conducted face-to-face “Employee Experience Interviews” with over 1,000 employees, giving us the opportunity to listen to them directly. We implement ideas and suggestions submitted through the Suggestion Platform created to gather employees’ feedback and continue to develop solutions that add value to our Bank.
We always act with the awareness of safeguarding our employees’ happiness, and through our employee experience-focused approach, we aim to increase engagement and satisfaction, boost motivation and instill the sense of pride in being part of VakıfBank.
In this context, social and cultural activities are also an important part of our employee engagement. Our Bank hosts 15 different social clubs covering a variety of areas, from arts to sports, chess to social responsibility. Through concerts, theater performances and other events in which employees actively participate, we provide opportunities for both personal development and collaborative creation.
Furthermore, through our volunteer-based “Goodness Ambassadors,” we carry out internal social responsibility activities. Projects such as the VakıfBank Forest, special day events and workshops that include family participation aim to add value to our employees’ lives while promoting social welfare and raising awareness of goodwill.
Our Occupational Health and Safety (OHS) Policy reflects VakıfBank’s high regard for human value and considers providing a safe and healthy work environment for our employees and all stakeholders as one of our core responsibilities. Within this framework, we adopt compliance with legal requirements and international standards in OHS as a fundamental principle.
By obtaining the ISO 45001 Occupational Health and Safety Management System certification, we established the Integrated Management System (ISO 9001 – ISO 14001 – ISO 45001) and became the first bank in Türkiye to receive this certification. In 2024, we continued to ensure the sustainability of our Integrated Management System.
In the field of health and safety, we adopt an approach that covers not only our employees but also service providers and all stakeholders. Accordingly, we prioritize suppliers who meet OHS requirements in our procurement processes and prefer not to work with firms that do not meet these criteria.
We provide guidance to all employees working at our bank and monitor OHS performance using the European Statistics on Accidents at Work (ESAW) methodology. Within the framework of workplace accident management and investigation, in the event of a work accident or a near-miss, the “Near-Miss – Accident Report Form” is first filled out and the workflow is started. Relevant documents (such as judicial reports, accident reports, etc.) are collected. After a work accident or near-miss, an occupational safety specialist is sent to the branch, and a Accident Investigation Form is prepared to analyze the root causes of the incident. Identified gaps are communicated to the relevant departments. After the incident, the employee receives training to prevent the event from happening again and to raise awareness. This process ensures that all accidents and near-misses are regularly recorded and thoroughly investigated. We regularly offer in-class trainings and e-learning programs, and all new employees receive OHS training as part of their orientation. Additionally, we conduct branch and unit visits to meet with employees face-to-face and perform on-site evaluations.
In line with our proactive risk management approach, we map OHS risks both within our bank and in processes affecting our stakeholders and take necessary measures. In 2024, we addressed the risks identified during our location visits to branches and units, ensuring a safe working environment while informing all stakeholders.
At VakıfBank, within the framework of our human resources policies, we support the professional, technical and personal development of our employees through training programs, contributing to sustainable work efficiency. Based on our bank’s strategies and the competencies expected from our employees, we support them with in-class training, live virtual classroom sessions and digital courses on topics identified through training needs analyses.
We offer training programs that strengthen our employees not only in professional and technical areas but also in personal development. By enriching these programs with flexible and innovative digital content, we enhance the effectiveness of in-class and virtual classroom trainings. This approach increases employees’ knowledge while helping them adapt to changing business conditions, enabling them to contribute more effectively to the bank’s corporate objectives.
Key training programs provided to our employees include:
Additionally, mandatory thematic training sets were designed and implemented at least once a year under our sustainability strategy to raise awareness and foster expertise among employees according to target groups. At VakıfBank, training programs are offered on inclusive work environments, human rights, carbon management/footprint, water awareness, and climate change, supporting employees in gaining expertise in these areas. Risk management training is included as part of the Bank’s orientation program, and personnel assigned to risk management are further supported through specialized training programs. These thematic trainings cover both professional/technical and personal development areas. To ensure employees participate in an inclusive work environment, we regularly provide training programs on intercultural awareness, gender equality, human rights and diversity.
We also support academic development by collaborating with universities on master’s and doctoral programs, providing flexible working hours to facilitate employee participation and contributing to the enhancement of their academic skills and expertise.
We evaluate our trainings through digital exams and measure the results to continuously monitor employee development. As part of our training and development strategy, we offer global digital learning platforms for use by IT, audit and headquarters employees. Furthermore, development programs designed in collaboration with universities and stakeholders aim to strengthen employees’ data-driven skills.
Over 1,100 of our employees participated in trainings, conferences and seminars organized by external institutions and organizations. At VakıfBank, continuously developing our employees’ competencies and creating a learning culture aligned with corporate objectives are among our top priorities.
VakıfBank aims to create a respectable business environment to human rights within the scope of sustainable banking understanding and to raise awareness and consciousness of its employees, customers, suppliers, partners and shareholders by extending this understanding. The Bank is committed to respecting human rights in accordance with internationally accepted standards.
As VakıfBank, we embrace respect for human rights as a fundamental value and systematically implement this approach across all our areas of activity. We have a comprehensive human rights due diligence process to identify, prevent, mitigate, monitor, and report human rights risks. This process is periodically reviewed to cover not only our current operations but also our entire value chain.
VakıfBank’s approach to respecting human rights is shaped not only in compliance with national legislation but also within the framework of the following international standards and guiding principles:
VakıfBank implements practices in line with its human rights policy, covering its own operations, employees, customers, suppliers, and all stakeholders across its value chain. The human rights due diligence process consists of four main stages: identifying and assessing risks, planning preventive and mitigating actions, continuous monitoring and evaluation, and direct engagement with vulnerable groups. In this context, the necessary processes are operated to ensure the early detection of adverse practices.
Customers
In line with our Human Rights Policy, we do not finance activities that are prohibited or restricted under national laws to which Türkiye is a party or under international agreements. Furthermore, we do not provide funding for the activities or projects of individuals or organizations found to employ child labor, engage in gender discrimination or violate human rights.
For the projects we finance, we assess whether issues such as occupational health and safety violations, human rights and ethical breaches and discrimination exist and we specifically monitor these issues during the due diligence conducted for each customer. Before lending, we conduct on-site visits to customer operations, develop action plans for any adverse situations identified and ensure the necessary follow-up. Based on these assessments, trainings on ethical behavior, prevention of harassment and discrimination and similar topics are provided to improve working conditions and enhance customers’ sustainability performance. In addition, as long as the loan risk persists, regular audit activities are carried out to monitor both the firm's ability to repay the loan and its legal compliance.
Our customers can also submit complaints and notifications regarding ethical matters via the Contact Us (Sorun Çözelim) and Ethics Hotline sections on our corporate website, our call center, internet and mobile applications, our branches and and the contact address of our Head Office. Reports received through the Ethics Hotline are examined based on their nature, and the reporting person is contacted as soon as possible and provided with updates on the process.
Employees
Through our existing policies and procedures, we prevent our employees from being exposed to risks such as discrimination, occupational health and safety breaches, and violations of ethical rules. To manage these risks effectively, we regularly update our policies and procedures, publish codes of ethical conduct, conduct regular training sessions on relevant topics, and collect regular feedback from employees via internal satisfaction surveys.
We keep all communication channels open, such as the Ethics Hotline and Inspection Whistleblowing Line, to ensure employees can reach the responsible authorities directly in case they encounter adverse situations. Reports are reviewed according to their nature and investigated by the Internal Audit Department if necessary. The reporting person is contacted as soon as possible, process updates are provided, personal data are protected and the confidentiality of the notification is maintained.
We share with employees the disciplinary measures that may be applied regarding adverse actions and secure the rights of all employees through collective labor agreements. Through our comprehensive policies, procedures and practices we support a culture where employees are not subject to differential treatment due to personal characteristics and adopt an inclusive approach in societal interactions. Our Harassment and Violence Procedure aims to maintain a respectful and trustworthy work environment free from pressure and violence, prevent all types of harassment and violence within the institution, and clearly define the roadmap to be followed in such cases.
Supply Chain
Within the framework of sustainable banking, VakıfBank aims to create a work environment that respects human rights and to increase the awareness and consciousness of employees, customers, and stakeholders. In this regard, suppliers are expected to comply with VakıfBank’s Human Rights Policy, Supplier Selection and Compliance Policy, as well as legal regulations and national legislation.
Suppliers are required to:
In the case of violations detected in our suppliers, cooperation is established to ensure compliance with legislation; if actions are found to be contrary to our Supplier Selection and Compliance Policy, business relationships are terminated.
Within this framework, risks such as child labor, forced labor, occupational health and safety violations and ethical breaches in the supply chain are monitored, and the rights of vulnerable groups, such as migrant workers and employees are protected. Regular supplier assessments are conducted during the monitoring process, and complaints submitted through the Ethics Hotline are evaluated confidentially.
VakıfBank is committed to understanding the views of all stakeholders affected through its operations and financial services and evaluating human rights risks accordingly. Thus, our human rights approach is shaped by international standards and best practices, based on a comprehensive and systematic policy and implementation process. This framework, which prioritizes respect for human rights across all current and new business relationships, is supported by the principles of sustainability and accountability. In order to reinforce these principles and standards, VakıfBank provides regular human rights training to its employees to ensure awareness and understanding of ethical principles, equal opportunities, and respect for all stakeholders.
