Ownership Structure

VakıfBank was first established with an initial capital of TL 50 million on the January 11, 1954 and later started operating on the April 13, 1954.

Following the public offering in 2005, 74.76% share of the General Directorate of Foundations in the Bank decreased to 58.45% and 24.89% share of the VakıfBank Pension Fund decreased to 16.10% and the publicly traded shares constituted 25.18% of the Bank’s capital.

As of December 11, 2019, 43.00% shares and 15.51% shares of General Directorate of Foundations representing Group (A) and Group (B), respectively (58.51% in total, 0.06% of which was other registered foundations) have been transferred to the Ministry of Treasury and Finance as per the Presidential Decree dated December 3, 2019.

As of May 20, 2020, the capital increase process of VakıfBank was completed with the sale of newly issued shares to Turkey Wealth Fund through private placement and without being offered to the public with a total sales proceeds amounting TL 7,000,000,000.

Current ownership structure of VakıfBank is stated below:

Group of Shares
Nominal Value of the
A Republic of Turkey Ministry of Treasury and Finance 1,075,058,639.56 27.52%
B Republic of Turkey Ministry of Treasury and Finance 387,673,328.18 9.93%
B Other Appendant Foundations 2,591,250.53 0.07%
C VakifBank Pension Fund 402,552,666.42 10.31%
C Individuals and Legal Entities 1,527,392.67 0.04%
D Turkey Wealth Fund 1,405,622,489.96 35.99%
D Free Float 630,596,722.63 16.14%