Contributing to the sustainable growth of the national economy
VakıfBank has incorporated under a special charter act (Law No. 6219) dated 11 th January 1954 and commenced its operations on the 13th of April 1954 with a capital of TL 50 million. At its inception, the Bank’s mission was to set as managing and utilizing the assets of foundations in the most efficient manner in line with the needs of the economic development, contributing to Turkey’s increasing savings rate based on a management and working understanding aligned with the requirements of modern banking.
Also to preserve the deposits that is collected to put them in use towards the requirements of the economic development. VakıfBank’s IPO marks a turning point in the Bank’s corporate history. During the public offering of VakıfBank, new shares have been created through capital increase that were sold domestically and abroad, thus generating new funds worth USD 1.2 billion for the Turkish economy and for the Bank.
Ever since its inception, VakıfBank has been contributing to Turkey’s increasing savings rate with modern banking practices and applications, which carries out significant work aimed at the growth and development of the national economy
VakıfBank initiated a process of comprehensive change and development with the Change and Restructuring Program that was introduced in 2005.
Under this program, VakıfBank reviewed all of its business processes, centralized all operational transactions and oriented the branches completely toward sales and marketing, by this means, enhancing the service quality at the branches. In keeping with its strategy of sustainable growth based on a customer oriented approach, VakıfBank took important steps and carried out projects to further improve its:
- business processes, and
- service approach.
VakıfBank symbolizes deep-rooted tradition and experience in the national banking system
Carrying on with its efforts targeting to contribute to the growth and development of the Turkish economy and its integration into the global economy, VakıfBank succeeded in being one of the most profitable banks in the banking industry, while quickly catching up with large-scale banks by adopting a rapid and healthy growth process so as to cement its position.
Wide range of financial products
Today, modern banking products and services offered by VakıfBank, covers, retail and private banking as well as corporate, commercial and small business banking. Engaged in investment banking and capital market activities in addition to basic banking products and services, VakıfBank also provides its customers with a wide range of financial services such as insurance, leasing and factoring services through its financial subsidiaries with modern and state-of-the-art technologies.