VakıfBank was first established with an initial capital of 50 million TL on the 11th of January 1954 and later started operating on the 13th of April 1954, for the purpose of best utilizing the foundations’ monies. Besides, VakıfBank aims at contributing to the savings of the country with the modern banking practices and utilizing them according to the requirements of the economic development.
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) 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 through private placement and Turkey Wealth Fund became a shareholder of the Bank with 35.99% share. Please click here to see current ownership structure.
As of March 31, 2020, VakıfBank is the fourth largest bank in Turkey in terms of asset size. Since its very first date of foundation, VakıfBank continues its activities towards the growth and development of the country's economy, and the integration with the world economy pursuant to the provisions of its private law.
VakıfBank has been reaching out its corporate and individual customers in a most efficient manner through its internet and telephone banking services. As of March 31, 2020, VakıfBank undertakes a leading role in the financing of domestic and foreign trade through 937 branches, 4,256 ATMs and 362,337 units of POS that constitute its alternative distribution channels. VakıfBank has three international branches located in New York, Bahrain and Arbil. In addition, VakıfBank operates in Austria with a subsidiary, VakıfBank International AG, which has branches in Vienna and Cologne.