Table of Contents
1
522
VKF_FRAE_2018_uyg11
Section I: Introduction
8
Agenda of the 65th Ordinary General Assembly Meeting
8
Dividend Policy
8
Compliance Opinion on the Annual Report
10
Declaration of Responsibility
10
VakıfBank in Brief
12
VakıfBank’s Cornerstones
12
Amendments to the Articles of Incorporation
14
Key Financial Indicators
18
Key Ratios
20
History and Ownership Structure
14
Message from the Deputy Chairman
24
Message from the General Manager
26
The World and Turkey in 2018
30
2018 at a Glance
38
Review of Operations in 2018
42
Corporate Social Responsibility
92
Affiliates and Subsidiaries
94
Section II: Management and Corporate Governance Principles
96
Summary Report of the Board of Directors
96
Board of Directors
96
Board of Statutory Auditors
100
Executive Management
100
Internal Control Systems Executives
106
Committees
106
Human Resources Practices
108
Outsourced Support Services
112
Transactions with the Bank’s Risk Group
112
Corporate Governance Principles Compliance Statement
113
Part III: Financial Highlights and Assessment of Risk Management
114
Statutory Auditor’s Report
114
Assessment of the InternalSystems and 2018 Operations
114
Risk Management Policies Applied by Risk Type
118
Unconsolidated Financial Statements, Explanations and Footnotes and Independent Auditors’ Report as of December 31, 2018
120
Consolidated Financial Statements, Explanations and Footnotes, Independent Auditors’ Report as of December 31, 2018
312
Evaluation of the Bank’s Financial Position, Profitability and Solvency
516
International Credit Ratings
518
Five-Year Summary Financial Information
518
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