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Regarding the Amendments on VakıfBank Law
To  : Investor Community
From  : VakıfBank – Investor Relations
Tel   :(90-212) 316 73 83 / 85
Fax   :(90-212) 316 71 26
e-mail  : investorrelations@vakifbank.com.tr
Subject : Regarding the Amendments on VakıfBank Law Numbered 6219 with the Statutory Decree Numbered 696 published on the Official Gazette on December 24th, 2017
Date : 14.12.2017  

The Articles 6-12 of the Statutory Decree numbered 696 that was published on the Official Gazette on December 24th, 2017 incorporate below mentioned amendments on VakıfBank Law numbered 6219.   
The Article 6 of the Statutory Decree regulates the amendments regarding the Bank's ownership structure and the Articles 7-12 regulate the other provisions of VakıfBank Law numbered 6219.   
The Clause 2, Article 6 of the Statutory Decree refers to the below mentioned statements regarding 43.00% shares and 15.51% shares of General Directorate of Foundations representing Group (A) and Group (B), respectively (58.51% in total);   

''Those shares within Group (A) and (B), except for "other appendant foundations", which are owned and administered by General Directorate of Foundations (GDF), are transfered to Turkish Treasury by the per share price set by Turkish Cabinet in accordance with the average price of 3 different values determined in the conclusion part of valuation reports conducted by 3 independent third parties. The registration process of those shares to the Bank's share registration book, on behalf of Turkish Treasury will be completed in a week time following the Cabinet decision become effective. Turkish Treasury will be issuing 5 equal amount of lease certificate maturing in different tenors to GDF of which total sum is equal to total transfer amount of shares. The first lease certificate will be maturing at the end of two months period while the remaining 4 will be maturing in the first, second, third and fourth year end respectively following the first redemption date. ''   
The Clause 3, Article 6 of the Statutory Decree refers to the below mentioned statements regarding 16.10% shares of VakıfBank Pension Fund representing Group (C);   

''VakıfBank Pension Fund, one of the shareholders from Group (C), will have the option to ask for transfer of their shares to Turkish Treasury within 120 days time-table starting from the Cabinet decision become effective onwards. VakıfBank Pension Fund must apply to the Bank for such request. The Minister to whom Secretarty of Turkish Treasury reports, will decide to buy the shares of VakıfBank Pension Fund shares by per share price for Pension Fund set by Turkish Cabinet. The transfer amount will be paid via Treasury bonds.''  

The Clause 4, Article 6 of the Statutory Decree refers to the below mentioned statements regarding 0.11% shares of appendant foundations representing Group (B) and 0.06% shares of other real persons and legal entities representing Group (C);  

The remaining appendant foundations within Group (B) and other real persons and legal entities within Group (C) shares, will have the option to ask for transfer of their shares to Turkish Treasury within 120 days timetable starting from the Cabinet decision become effective onwards. Those shareholders must apply to the Bank for such request. The Minister to whom Secretarty of Turkish Treasury reports, will decide to buy these shares by per share price for Pension Fund set by Turkish Cabinet. Those foundations, real persons and legal entities will be paid by the Bank and Bank will receive the payment amount by cash from Turkish Treasury upon notification.  


The appendant foundations within Group (B) and the other real persons and legal entities within Group (C) shares who decided to use the option for transfer of their shares to Turkish Treasury must apply to the Bank via the contact details below within 120 days time-table starting from the Cabinet decision.  

E-mail: yatirimciiliskileri@vakifbank.com.tr  

Phone: (0212) 316 7336 – (0212) 316 7383 – (0212) 316 7401 – (0212) 316 7388 – (0212) 316 7385  

The shareholders within non-listed Group A, B and C shares are subject to the amendment and there is no any amendment regarding the shareholders within Group D shares that are listed on Borsa Istanbul with the aforementioned articles of the Statutory Decree. Therefore, 25.22% shares representing Group D will not be subject to any amendments.   
As it is mentioned in Clause 5, Article 6 of the Statutory Decree, those shares which will be transferred to Turkish Treasury, will be represented and managed by the Minister to whom Secretary of Turkish Treasury reports.  
Pursuant to the Clause 6, Article 6 of the Statutory Decree, all transactions and operations related to transfer of shares will be exempted from following regulations and laws; Capital Markets Law dated December 6th, 2012 and numbered 6362, The law for the Protection of Competition dated December 7th, 1994 and numbered 4054, Banking Law numbered 5411. In addition, all transactions and papers related to transfer of shares will be exempted from duties, charges and stamp tax.   
Pursuant to the Clause 9, Article 6 of the Statutory Decree, should there is any dispute or hesitation for the implementation of this article, Finance Minister or the Minister to whom Secretarty of Turkish Treasury reports, will be having the authority to rule on.  

The Article 7 of the Statutory Decree incorporates below mentioned amendments on the Article 15 of VakıfBank Law numbered 6219 regarding the Board of Directors;  

"Board Of Directors"    
Board members are elected by General Assembly. Board assigns one member as CEO, who is fulfilling the requirements specified in the Banking Law numbered 5411. The number, term of office, authority and responsibilities of Board members are shown in the VakıfBank's Articles of Incorporation. Fees paid to the Board Members will be determined by General Assembly.  

The Articles 8, 9 and 10 incorporate the technical amendments in order to comply with the existing legislation.  
The below mentioned Provisional Article 5 was included into the VakıfBank Law numbered 6219 with the Article 11 of the Statutory Decree;  

''Provisional Article 5: The Articles of 2, 23 and 29 of Law of Charges dated 2.7.1964, numbered 492 and the Article 1 of Law Regarding Charges Against the Construction of Prisons and Court Houses and the Food Costs Charged to Convicts dated 30.6.1934, numbered 2548 are not applied on the claims and proceedings for the purpose of collection of loan receivables until the state ownership falls below 50% threshold. The applications for provisional injunctions and provisional attachments of the Bank are not required any collateral.''  

As part of the amendments made with the Article 12 of the Statutory Decree, it is stated that the Subclause E/Clause 1/Article 2, Subclause 2/Clause 1/Article 12, Article 14, Statement 2/Clause 1/Article 16, Clause 3/Article 16, Statement 1/Clause 4, Article 20 and Additional Article 2 of VakıfBank Law dated 11.1.1954, numbered 6219 are abolished. 

The shares which are owned and administered by General Directorate of Foundations (GDF) will be transferred to Turkish Treasury with the aforementioned Statutory Decree following the decision of Turkish Cabinet.  
There will be no change on the state bank status, strategy and business model of VakıfBank with the aforementioned Statutory Decree. VakıfBank will continue to be the "strength by Turkey'' hereafter as it has been since its establishment and carry on its support to the national economy. Carrying its rooted foundation culture from past to the future, VakıfBank will continue to provide prompt and efficient banking services to its customers with the vision of ''Leading Bank of Strong Turkey''. VakıfBank will be stick to the policies in accordance with the main targets of the country. Being one of the leading Bank of Turkey with its strong capital structure, technological infrastructure, qualified banking services and professional human sources, VakıfBank will continue to increase the efficiency in the markets with its operations in order to provide social benefit. Additionally, VakıfBank will carry on to support the all parts of the society and finance the valueadded projects that increase the social welfare, provide employment, support export and production along with its strategic projects.  
                                                                                                  
According to CMB legislation, in case of a contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail. We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.  

Yours sincerely, VakıfBank  
About Finalization of Mortgage Covered Bond Issuance in Abroad

To  : Investor Community
From  : VakıfBank – Investor Relations
Tel   :(90-212) 316 73 83 / 85
Fax   :(90-212) 316 71 26
e-mail  : investorrelations@vakifbank.com.tr
Subject : About Finalization of Mortgage Covered Bond Issuance in Abroad
Date : 14.12.2017  

Capital Market Instrument To Be Issued Info  
Type  Mortgage Covered Bonds 
Maturity Date  14.12.2022 
Maturity (Day)  1.826 
Interest Rate Type  Fixed Rate 
ISIN Code  XS1734690396 
Maturity Starting Date  14.12.2017 
Nominal Value of Capital Market Instrument Sold  1.333.000.000   

Additional Explanations
Reference: VakıfBank Public Disclosure Dated October 3, 2017 It was announced with the referred disclosure that the Head Office has been authorized to apply Capital Markets Board ("CMB") and Banking Regulation and Supervision Agency ("BRSA") for the renewal of mortgage covered bond issuance approval up to Euro 3 billion equivalent in any currencies, to either solely intended for non-resident, qualified investors or through private placements and the application has been approved by the CMB. Accordingly, issuance of covered bond through private placement with HSBC Bank PLC as an investor in the amount of 1,333,000,000 TL with 5 years maturity has been completed on December 14, 2017.  
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.  

Yours sincerely, VakıfBank 
About The Loan Agreement Signed with AFD

To  : Investor Community
From  : VakıfBank – Investor Relations
Tel   :(90-212) 316 73 83 / 85
Fax   :(90-212) 316 71 26
e-mail  : investorrelations@vakifbank.com.tr
Subject : About The Loan Agreement Signed with AFD 
Date : 20.11.2017  

A credit facility agreement, amounting EUR 80 Million was signed on the 20th of November 2017 between French Development Agency (AFD) and VakıfBank aiming to support rural development and agricultural sectors in Turkey in order to finance micro-, small- and medium-size enterprises, cooperatives, producer unions as well as farmers engaged in these sectors. The final term of the facility is set as 12 years with a 3year grace period.  
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.  

Yours sincerely, VakıfBank
About Finalization of Mortgage Covered Bond Issuance in Abroad
To  : Investor Community
From  : VakıfBank – Investor Relations
Tel   :(90-212) 316 73 83 / 85
Fax   :(90-212) 316 71 26
e-mail  : investorrelations@vakifbank.com.tr
Subject : About Finalization of Mortgage Covered Bond Issuance in Abroad 
Date : 09.10.2017  

Capital Market Instrument To Be Issued Info  
Type  Mortgage Covered Bonds 
Maturity Date  09.04.2023 
Maturity (Day)  2.008 
ISIN Code  XS1696658266 
Maturity Starting Date  09.10.2017 
Nominal Value of Capital Market Instrument Sold  1.333.000.000 
 
Additional Explanations 
Reference VakıfBank Public Disclosure Dated ctober 3rd, 2017 It was announced with the referred disclosure that the Head Office has been authorized to apply Capital Markets Board ("CMB") and Banking Regulation and Supervision Agency ("BRSA") for the renewal of mortgage covered bond issuance approval up to Euro 3 billion equivalent in any currencies, to either solely intended for non-resident, qualified investors or through private placements and the application has been approved by the CMB. Accordingly, issuance of covered bond in the amount of TL 1,333,000,000 with 5.5 years maturity has been completed on October 9th, 2017. 
 
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.  

Yours sincerely, VakıfBank 
About the Syndication Loan Agreement
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Syndication Loan Agreement
Date : 25.09.2017

On September 25th, 2017, under the joint coordination of ING Bank and Emirates NBD and ING Bank, London Branch as the agent bank, VakıfBank signed a syndication loan agreement amounting USD 131 million and EUR 634 million, USD 891 million equivalent in total with the participation of 22 banks from 12 countries. The 367-days term loan will be used for trade finance purposes and the all-in cost is LIBOR +1.35% for USD tranche and EURIBOR +1.25% for Euro tranche.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the finalization of the Domestic Subordinated Notes issuance
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the finalization of the Subordinated Notes issuance to sell qualified investors who is domiciled in domestic only
Date : 18.09.2017

It was announced with the referred disclosure that on August 23rd, 2017, Capital Markets Board approved to issue TL borrowing instruments up to TL 3 billion which will be available for qualified investors who is domiciled in domestic only, that meet the criteria for the inclusion in subordinated notes (Tier 2).

In this context, to issuance of subordinated notes (Tier II) TL 525,000,000 nominal amount with floating rate (interest payable every quarter) notes, with a structure of 10NC5 have been completed.

Settlement of securities has been realized as of 18.09.2017.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About Organizational Changes in VakıfBank Head Office
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About Organizational Changes in VakıfBank Head Office
Date : 20.07.2017

VakıfBank's Board of Directors took the following decision dated on July 20, 2017,

- Mr. H. Uğur BİLGİN, Head of Human Resources, Mr. Şuayyip İLBİLGİ, Head of Treasury, Mr. Ersin ÖZOĞUZ, Head of Internal Audit Board, Mr. İlker YEŞİL, Çukurova Regional Director and Mr. Şeyh Mehmet BOZ Istanbul 1st Regional Director have been appointed as Executive Vice President. Appointed Executive Vice Presidents will commence on their duty following BRSA approval.

- Mr. Serdar SATOĞLU, Executive Vice President, has been appointed in Vakıf Emeklilik A.Ş, life insurance subsidiary of VakıfBank.

- Mr. Mustafa EMRE, Vice President of Internal Audit Board, has been appointed as Head of Internal Audit Board.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About Distribution of Duties among Board
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About Distribution of Duties among Board
Date : 09.06.2017

VakıfBank's Board of Directors took the following decisions unanimously on June 9th, 2017 regarding the distribution of duties among Board,

- As per Article 52 of the Articles of Incorporation, Mr. İsmail Alptekin has been elected as the Chairman of the Board of Directors,

- As per Article 52 of the Articles of Incorporation, Mr. Serdar Tunçbilek has been elected as Vice Chairman,

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the change of CEO
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the change of CEO
Date : 09.06.2017

Following the departure of Mr. Halil Aydoğan who served as the CEO since March 29, 2013, Mr. Mehmet Emin Özcan was appointed as the new CEO of VakıfBank as of June 09, 2017.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About Eurobond Issuance
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About Eurobond Issuance
Date : 25.05.2017

Reference: VakıfBank Public Disclosure dated May 23, 2017

It was announced with the referred disclosure that Commerzbank, Erste Group Bank AG, Goldman Sachs International, HSBC Bank PLC, J.P. Morgan and Natixis had been mandated for an issuance of U.S. dollar-denominated Eurobond to international investors who are domiciled outside of Turkey.

Within this context, bookbuilding process of the Eurobond issuance has been finalized and the fixed rate notes with nominal amount of USD 500 million, 5 year maturity, redemption date of 30 May 2022 and semi-annual coupon payments, have the yield of 5.650% and the coupon rate of 5.625%.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Syndication Loan Agreement
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Syndication Loan Agreement
Date : 24.04.2017

On April 24th, 2017, under the coordination of Bank of America Merrill Lynch International Limited and Emirates NBD Capital Limited and National Bank of Abu Dhabi PJSC as the agent bank, VakıfBank signed a syndication loan agreement amounting USD 188.5 million and EUR 716.5 million, USD 967 million equivalent in total with the participation of 37 banks from 18 countries. The 367-days term loan will be used for trade finance purposes and the all-in cost is LIBOR +1.45% for USD tranche and EURIBOR +1.35% for Euro tranche.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Annual Update of Global Medium Term Note Programme (GMTN)
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : Annual Update of Global Medium Term Note Programme (GMTN)
Date : 21.04.2017

Reference: VakıfBank Public Disclosure Dated April 18, 2016

It was announced with the referred disclosure that the Bank's USD 7 billion GMTN programme had been updated.

Annual update of the aforesaid program has been completed as of April 21st, 2017 and the program has been made ready to issue bonds in various currencies with different maturities.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About Moody's Ratings
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About Moody's Ratings
Date : 21.03.2017

Moody's revised the outlook of the sovereign ratings on the Republic of Turkey to Negative from Stable on its report dated March 17, 2017.

Accordingly, Moody's revised the outlook of VakıfBank ratings to Negative from Stable. Moody's affirmed the Bank's Long Term Foreign Currency rating at "Ba2", Long Term Local Currency rating at "Ba1" and the Baseline Credit Assessment (BCA) at "ba2" level.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Loan Agreement
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Loan Agreement
Date : 03.03.2017

On March 3rd, 2017, under the coordination of ICBC Turkey A.Ş., VakıfBank signed a bilateral loan agreement with ICBC Dubai amounting USD 250 million with 3 years maturity which will be used for trade finance purposes together with general purpose financial needs.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About Settlement of the Exchange Transaction
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About Settlement of the Exchange Transaction
Date : 14.02.2017

Reference: VakıfBank Public Disclosure Dated January 27th, 2017 and February 9th, 2017

It was announced with the referred disclosures that the permission obtaining process from the noteholders for the exchange of several existing notes issued abroad in 2012 with the new notes subject to the terms and conditions which are in compliance with Basel III and the book-building process in relation to the exchange transaction had been completed and the commercial terms of the notes subject to the exchange transaction had been determined.

Within this context, settlement regarding the notes in the nominal amount of USD 227,605,000 was completed on February 13th, 2017.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Exchange Transaction
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Exchange Transaction
Date : 27.01.2017

Reference: VakıfBank Public Disclosure Dated January 13th, 2017

It was announced with the referred disclosure that the permission obtaining process from the noteholders for the exchange of several existing notes issued abroad in 2012 with the new notes subject to the terms and conditions which are in compliance with Basel III, had been initiated and BNP Paribas, Citigroup Global Markets Limited, Merrill Lynch International ve Standard Chartered Bank had been authorized in this respect. Within this context, the permissions have been obtained from the noteholders and the book-building process in relation to the exchange transaction has been completed. The coupon rate has been set at 8.00% in respect of the notes subject to the exchange transaction, due 1 November 2027 with the maturity of 10 years (having a call option in 2022).

Further developments regarding the exchange process will be disclosed to the public.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
2016
About Eurobond Issuance
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About Eurobond Issuance
Date : 28.10.2016

Reference: VakıfBank public disclosure dated October 21st, 2016

It was announced with the referred disclosure that book-building process in relation to issuance of U.S. dollar-denominated Eurobond to international investors who are domiciled outside of Turkey was completed.

Accordingly, the proceeds of the issuance with USD 500 Million nominal amount have been transferred to VakıfBank's accounts on October 27th, 2016.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About DPR Securitization Transaction
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About DPR Securitization Transaction
Date : 04.10.2016

VakıfBank obtained a new foreign borrowing in Euro and USD currencies, amounting USD 890 million equivalent in total, through future flow transaction and treasury financing transaction as well as other required transactions within Diversified Payment Rights securitization program. Total amount of transaction is procured in seven separate tranches, USD 354.4 million of which has a maturity of 5 years and USD 535.7 million of which has a maturity of 7 years.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Moody's Credit Ratings
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : Moody's Credit Ratings
Date : 27.09.2016

On 19 July 2016, Moody's placed ratings of Turkey and 17 financial institutions including VakıfBank under review for downgrade. On 23 September 2016, Moody's has concluded its review and downgraded Turkey's issuer and bond ratings which were considered as "investment grade". Following sovereign downgrade, Moody's announced VakıfBank’s latest ratings as below, accordingly;

Baseline Credit Assessment ba2
Long-term foreign currency deposit rating Ba2
Long-term local currency deposit rating Ba1
Short term foreign currency deposit rating Not Prime
Short term local currency deposit rating Not Prime
Long-term Senior Unsecured Issuer Ratings, Foreign Currency Ba1
Long-term Senior Unsecured Issuer Ratings, Local Currency Ba1
Outlook Stable

Additionally, following the downgrade of Turkey's local-currency bond ceiling from A3 to Baa1, Moody's announced that VakıfBank’s Covered Bond program rating is downgraded from A3 to the aforesaid bond ceiling Baa1.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Syndication Loan Agreement
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Syndication Loan Agreement
Date : 26.09.2016

On September 26th, 2016, under the coordination of ING Bank NV London Branch and National Bank of Abu Dhabi, VakıfBank signed a 367-days term syndication loan agreement amounting to USD 224.5 million and EUR 544 million which will be used for trade finance purposes.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Directorial Position Change of Executive Vice President
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Directorial Position Change of Executive Vice President
Date : 09.09.2016

It is decided on the Bank's Board of Directors' meeting, held on September 8th, 2016 that Executive Vice President, Mr. Ali Engin Eroğlu’s duty in the Bank has been terminated as of the date of decision.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About Directorial Change of Position of Executive Vice President
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About Directorial Change of Position of Executive Vice President
Date : 26.08.2016

Mr. Yakup ŞİMŞEK, Senior Vice President, has been appointed as Executive Vise President by the Board decision dated August 25, 2016. Mr. ŞİMŞEK will commence on his duty following BRSA approval.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
A New Loan Limit Approved by the EBRD
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : A New Loan Limit Approved by the EBRD
Date : 28.07.2016

The European Bank for Reconstruction and Development (EBRD) announced the approval of a new loan limit amounting EUR 150 million for VakıfBank. This new loan will be used to real sector under three different programs in different currencies.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Şekerbank T.A.Ş. shares sold from the enforcement office
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Şekerbank T.A.Ş. shares sold from the enforcement office
Date : 13.07.2016

Reference: VakıfBank Public Disclosures dated April 5th, 2016, April 29th, 2016 and July 1st, 2016

Within the framework of the enforcement proceedings initiated for the collection of receivables from BTA Bank JSC and BTA Securities JSC, the annulment lawsuit filed by the debtors regarding Şekerbank T.A.Ş. shares which had been sold through the Execution Office was rejected at the trial on 30 June 2016 due to the waiver of the plaintiff and the decision of the Court became final. Upon the finalization of the auction, after deducting the legal costs from the file, the net amount of TL 150,069,150 has been collected as of July 12th, 2016.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Acquisition of Visa Europe Ltd. by Visa Inc.
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Acquisition of Visa Europe Ltd. by Visa Inc.
Date : 22.06.2016

Visa Europe Ltd, a global payments technology company and of which our Bank is a member has been acquired by Visa Inc., a company operating in the same industry and Euro 19,860,971.43 in cash has been transferred to our Bank’s accounts as of June 21, 2016. Additionally, within the scope of the acquisition, 7,212 Visa Inc. Series C shares will be given to the Bank.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About Loan Agreement with European Invesment Bank
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About Loan Agreement with European Invesment Bank
Date : 20.05.2016

The loan agreement for the second tranche of the fund amounting EUR 200 million in total, which was allocated to VakıfBank under the guarantee of Turkish Treasury in 2013 has been signed between VakıfBank and the European Investment Bank (EIB) on May 8th, 2016. The second tranche of the facility amounting EUR 100 million has a maturity of 12 years with 4 years grace period and the guarantee agreement regarding the loan was signed between VakıfBank and Turkish Treasury on May 20th 2016.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Mortgage Covered Bond Issuance
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : Mortgage Covered Bond Issuance
Date : 04.05.2016

On April 20th, 2016, under the coordination of Wells Fargo Bank NA and National Bank of Abu Dhabi, VakıfBank signed a 367-days term syndication loan agreement amounting to USD 207 million and EUR 631.5 million with the participation of 30 banks from 15 countries. The loan will be used for trade finance purposes and the all-in cost will be LIBOR +0.85% for USD tranche and EURIBOR +0.75% for Euro tranche.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Syndication Loan Agreement
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 73 83 / 85
Fax :(90-212) 316 71 26
e-mail : investorrelations@vakifbank.com.tr
Subject : About the Syndication Loan Agreement
Date : 20.04.2016

On April 20th, 2016, under the coordination of Wells Fargo Bank NA and National Bank of Abu Dhabi, VakıfBank signed a 367-days term syndication loan agreement amounting to USD 207 million and EUR 631.5 million with the participation of 30 banks from 15 countries. The loan will be used for trade finance purposes and the all-in cost will be LIBOR +0.85% for USD tranche and EURIBOR +0.75% for Euro tranche.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
2015
About the Syndication Loan Agreement
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About the Syndication Loan Agreement

Date : 15.09.2015

On September 14th, 2015, under the coordination of ING Bank N.V. London Branch as a facility agent, VakıfBank signed a 367-days term syndication loan agreement amounting to USD 168.5 million and EUR 679.5 million with the participation of 30 banks from 16 countries. The loan will be used for trade finance purposes and the all-in cost will be LIBOR/EURIBOR + 0.75%.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Mortgage Covered Bond Programme Establishment
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 


Subject: Mortgage Covered Bond Programme Establishment

Date : 31.07.2015

Reference: VakıfBank Public Disclosure Dated June 15th, 2015

The Mortgage Covered Bond (“MCB”) Programme, which will enable the Bank to issue mortgage covered bonds outside Turkey, up to 3 billion Euro or its equivalent in other currencies, with fixed or floating interest rate, has been established on July 29th, 2015.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the signing of the 22nd Term Collective Bargaining Agreement
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 


Subject: About the signing of the 22nd Term Collective Bargaining Agreement

Date : 24.06.2015

Reference: VakıfBank Public Disclosure Dated April 20th, 2015

The start of negotiations for the 22nd Term Collective Bargaining Agreement between VakıfBank and BASS (Bank and Insurance Employees Union) which will be effective for the period between May 1st, 2015 and April 30th, 2017 was announced with the referred disclosure dated April 20th, 2015. The parties reached to an agreement and signed the new contract on June 23rd, 2015.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
The CMB Approval of Mortgage Covered Bond Issuance
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: The CMB approval of mortgage covered bond issuance

Date : 15.06.2015

Reference: a) VakıfBank Public Disclosure Dated July 19, 2013
                     b) VakıfBank Public Disclosure Dated November 24, 2014

It was announced with the referred disclosure that T. Vakıflar Bankası A.Ş. Board of Directors had authorized the Head Office on 16 July 2013 to take the necessary actions with regard to mortgage covered bond issuance in one or more tranches, with different series and maturities, and having fixed and/or floating interest rates to be determined at the issuance times in accordance with market conditions, to the extent that the relevant legislation allows, up to EUR 1 billion in total or equivalent in any other currency including Turkish Lira, to be sold without public offering, inside or outside Turkey or to qualified investors or by private placement and the necessary application was made to Capital Markets Board ("CMB").

Accordingly, it was announced in the weekly bulletin of the Capital Markets Board ("CMB") numbered 2015/15 that the application for mortgage covered bond issuance has been approved by the CMB.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About the Loan Agreement signed with the European Investment Bank
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About the Loan Agreement signed with the European Investment Bank

Date : 11.06.2015

Reference: VakıfBank Public Disclosure Dated November 11th, 2014

It was announced with the referred disclosure that VakıfBank signed a loan agreement with the European Investment Bank (EIB) under the guarantee of Turkish Treasury for the first tranche of EUR 200 million funding allocated to VakıfBank that would be on-lent to the SMEs and MidCaps.

The loan agreement for the second tranche of the abovementioned facility amounting EUR 100 million with 3 year grace period and 8 years maturity in total has been signed on May 28th, 2015 and Turkish Treasury signed the guarantee agreement on June 11th, 2015.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard

Yours sincerely,

VakıfBank
About the Appeal File on Turkish Competition Board Fine
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About the Appeal File on Turkish Competition Board Fine

Date : 22.04.2015

Reference: VakıfBank Public Disclosures Dated November 22nd, 2011, March 11th, 2013, August 16th, 2013, September 17th, 2013 and March 23rd, 2015

It was announced with the referred disclosures that our Bank has appealed against the Turkish Competition Board's decision dated March 8th, 2013 with the number of resolution 13-13/198-100 on imposing fines against our Bank. Annulment action filed by our Bank was rejected by 2nd Administration Court of Ankara with the number of resolution 2014/1580 K. dated December 25th, 2014. Also it was announced with the referred disclosure that the relevant Court notice has been received as of March 23rd, 2015 and aforementioned decision of rejection will be appealed within the limitation period.

The appeal has been filed before the Council of State against the abovementioned Ankara 2nd Administration Court decision.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About the Syndication Loan Agreement
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About the Syndication Loan Agreement

Date : 20.04.2015

Reference: VakıfBank Public Disclosure Dated April 15th, 2015

On April 17th, 2015, under the coordination of Wells Fargo Bank NA as a facility agent, VakıfBank signed a 367-days term syndication loan agreement amounting to USD 204 million and EUR 763 million with the participation of 35 banks from 17 countries. The loan will be used for trade finance purposes and the all-in cost will be LIBOR/EURIBOR + 0.80%.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Increasing the Limit of Global Medium Term Note Programme (GMTN)
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: Increasing the Limit of Global Medium Term Note Programme (GMTN)

Date : 17.04.2015

Reference: VakıfBank Public Disclosure Dated April 9, 2014

With our public disclosure dated April 9, 2014, it was announced that the contractual size our Bank's Global Medium Term Note Programme had been increased to USD 5 billion.

The contractual size of our Bank's GMTN programme has been increased to USD 7 billion.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About the Protocol signed with the General Directorate of Foundations (GDF)
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About the Protocol signed with the main shareholder General Directorate of Foundations (GDF)

Date : 31.03.2015

Reference: VakıfBank Public Disclosure Dated March 23rd, 2015

Within the framework of Banking Regulation and Supervision Agency's (BRSA) decision dated March 19th, 2015 and No. 6242 (published in Official Gazette dated March 21st, 2015 and numbered 29302), a protocol has been signed between VakıfBank and the General Directorate of Foundations on March 30th, 2015 with the aim of providing support and consultancy service to the main shareholder General Directorate of Foundations (GDF) in the below scopes to get all necessary licenses for the establishment of participation bank with the condition that all liabilities arising from Banking Law Number 5411 and other regulations remains confidential, which is in line with the Banking Law's article 4, first clause sub-section (v) and temporary article 3.

-Obtaining fund as initial capital to determine shareholder structure,
-Applying for establishment license, activity license and corporation license,
- Conducting strategies for target operation areas, customers and investors,
-Determining of business processes and organizational structure,
-Establishment of IT structure,
-Determining of Human Resources and training,
-Determining of other consultancy areas that can be provided by third parties.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About Turkish Competition Board Fine
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About Turkish Competition Board Fine

Date : 23.03.2015

Reference: VakıfBank Public Disclosures Dated November 22nd, 2011/ March 11th, 2013/ August 16th, 2013/ September 17th, 2013

It was announced with the referred disclosures that our Bank has appealed against the Turkish Competition Board's decision dated March 8th, 2013 with the number of resolution 13-13/198-100 on imposing fines against our Bank. Annulment action filed by our Bank was rejected by 2nd Administration Court of Ankara with the number of resolution 2014/1580 K. dated December 25th, 2014. The relevant Court notice has been received as of March 23rd, 2015 and aforementioned decision of rejection will be appealed within the limitation period.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About Directorial Change of Position of Executive Vice President
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About Directorial Change of Position of Executive Vice President

Date : 05.02.2015

It is decided on the Bank's Board of Directors' meeting, held on February 5th, 2015, Executive Vice President, Mr. Numan Bek has been assigned to the Head Quarters' order of service.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Issuance of Subordinated Notes (Tier II)
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: Issuance of Subordinated Notes (Tier II)

Date : 03.02.2015

Reference: VakıfBank Public Disclosure Dated January 27th, 2015

With our public disclosure dated January 27th, 2015, it was announced that book-building process in relation to issuance of subordinated notes (Tier II) had been completed and coupon rate had been set at 6.875 % with a yield of 6.95 % in respect of USD 500 million fixed rate (interest payable semi-annually) notes, having a call option on February 3rd, 2020 and due February 3rd, 2025 (with a maturity of 10 years and 1 day).

Accordingly, issuance of the abovementioned subordinated notes with USD 500,000,000 nominal amount has been completed and the proceeds of the issuance have been transferred to VakıfBank's accounts on February 2nd, 2015.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Pricing of Subordinated Notes (Tier II)
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject:Pricing of Subordinated Notes (Tier II)

Date : 27.01.2015

Reference: VakıfBank Public Disclosure Dated January 15th, 2015

With our public disclosure dated January 15th, 2015, it was announced that our Bank had mandated a group of banks consisting of BofA Merrill Lynch, Standard Chartered Bank, Citi, Deutsche Bank, Goldman Sachs International and HSBC for arranging a series of meetings with investors in London and U.S.A, and following the investor meetings, issuance of USD denominated subordinated notes would be considered depending on the market conditions.

Within this context, book-building process in relation to issuance of subordinated notes (Tier II) has been completed and coupon rate has been set at 6.875 % with a yield of 6.95 % in respect of USD 500 million fixed rate (interest payable semi-annually) notes, having a call option on February 3rd, 2020 and due February 3rd, 2025 (with a maturity of 10 years and 1 day).

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About Participation Banking
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About Participation Banking

Date : 22.01.2015

Reference a): VakıfBank Public Disclosure Dated December 22nd, 2014 Reference
                    b): VakıfBank Public Disclosure Dated January 8th, 2015

It was announced with the referred disclosure a that with the Board of Directors' decision dated December 22nd, 2014, Head Quarters were authorized to carry out all necessary transactions to obtain financing from Islamic Development Bank (IDB) to pledge capital for the Bank's participation banking project, amounting to USD 300 million with Turkish Treasury guarantee. It was announced with the referred disclosure b that with the Bank's Board of Directors' decision dated January 7th, 2015; Head Quarters were authorized to apply to relevant authorities in order to establish participation bank with a paid-in capital amount of USD 300 million equivalent in TL and registered capital ceiling of TL 1 billion.

With the VakıfBank Board of Directors decision dated January 22nd, 2015; it is decided that the process regarding the establishment of participation banking and obtaining finance from Islamic Development Bank will be carried out by Republic of Turkey Prime Ministry General Directorate of Foundations.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Mandate of Joint Lead Managers (JLM) for Arranging Investor Meetings
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About the Mandate of Joint Lead Managers (JLM) for Arranging Investor Meetings

Date : 15.01.2015

Reference: a-) VakifBank Public Disclosure Dated April 3rd, 2013
                     b-) VakifBank Public Disclosure Dated April 9th, 2014

With our public disclosure dated April 3rd, 2013, it was announced that USD 3 billion GMTN (Global Medium Term Notes) Program had been established, and issuances with different currencies and maturies could be made thereunder. Further, with our public disclosure dated April 9th, 2014, it was announced that the limit of the program had been increased to USD 5 billion.

Our Bank has mandated a group of banks consisting of BofA Merrill Lynch, Standard Chartered Bank, Citi, Deutsche Bank, Goldman Sachs International and HSBC for arranging a series of meetings with investors in London and U.S.A. commencing on January 19th 2015.

Following the investor meetings, issuance of USD denominated subordinated notes will be considered depending on the market conditions.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Board Decision about the Establishment Process of Participation Banking
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: Board Decision about the Establishment Process of Participation Banking

Date : 08.01.2015

Reference: VakıfBank Public Disclosure Dated December 22nd, 2014

It was announced that with the Board of Directors’ decision dated December 22nd, 2014, Head Quarters were authorized to carry out all necessary transactions to obtain financing from Islamic Development Bank (IDB) to pledge capital for the Bank’s participation banking project, amounting to USD 300 million with Turkish Treasury guarantee.

With the Bank's Board of Directors' decision dated January 7th, 2015; Head Quarters were authorized to apply to relevant authorities in order to establish participation bank with a paid-in capital amount of USD 300 million equivalent in TL and registered capital ceiling of TL 1 billion.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Applications Regarding Registered Capital Ceiling Increase to CMB and BRSA
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About the Applications Regarding Registered Capital Ceiling Increase to CMB and BRSA

Date : 07.01.2015

Reference: VakıfBank Public Disclosure Dated January 6th, 2015

In line with the referred disclosure, applications regarding registered capital ceiling increase to Capital Markets Board (CMB) and Banking Regulatory and Supervisory Agency (BRSA) has been completed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About Fitch Credit Ratings
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject: About Fitch Credit Ratings

Date : 06.01.2015

Credit rating agency, Fitch has affirmed all current ratings and outlooks of VakıfBank with the report published on January 5th, 2015.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About Registered Capital Ceiling Increase
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject :About Registered Capital Ceiling Increase

Date : 05.01.2015

With the Bank’s Board of Directors’ decision dated January 2nd, 2015; being presented to the approval of shareholders in the first upcoming ordinary general assembly meeting, it has been decided that registered capital ceiling shall increase to TL 10.000.000.000 from TL 5.000.000.000 and the article 7 of “VakifBank Articles of Incorporation”, which is related to capital, shall be amended accordingly. Within this context, Head Quarters were authorized to carry out all necessary applications including Capital Markets Board (CMB) and other relevant authorities.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
CMB approval of Debt Instrument Issuance
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7383 / 85

Fax : (90-212) 316 7126

e-mail: 

Subject :CMB approval of Debt Instrument Issuance

Date : 30.12.2014

It was announced on December 8th, 2014 that with the Bank’s Board of Directors’ decision dated December 3rd, 2014, the Head Quarters were authorized to apply CMB and BRSA for bond issuance and private placement transactions up to USD 5 billion equivalent in any currencies, particularly in USD, Euro, Swiss Franc and/or other currencies that are highly liquid in international bond and money markets to enable the bond and similar debt instrument issuances, including subordinated debt issuance either within the Bank’s GMTN programme or solely intended for non-resident, qualified investors.

Accordingly, the Bank’s application was approved in Capital Markets Board meeting, dated December 30th, 2014 and it is authorized to issue bond and similar debt instruments in abroad up to USD 5 billion equivalent in TL or foreign currencies, with different series and maturities as fixed and/or floating rates.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
2014
Disposal of Visa Inc. And Mastercard Inc. Shares
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject :Disposal of Visa Inc. And Mastercard Inc. Shares

Date : 30.12.2014

It was announced on November 28th, 2014 that the Head Quarters were authorized to sell 1.367.330 nominal share of Mastercard Inc. and 86.714 nominal share of Visa Inc. which are accounted under "Available For Sale Financial Assets" on the Bank's balance sheet.

Disposal process of above mentioned shares has been completed and USD 22.783.751 concerning Visa INC. shares and USD 116.716.046 concerning Mastercard Inc. shares, which amounts USD 139.499.797 in total has been transferred to the Bank's accounts.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
About Participation Banking Project
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject :About Participation Banking Project

Date : 22.12.2014

With the Board decision dated December 22, 2014, Head Office was mandated to carry out all necessary transactions to obtain financing from Islamic Development Bank (IDB) to pledge capital for the Bank’s participation banking project, amounting to USD 300 million with Turkish Treasury guarantee.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
DPR Securitization Loan Facility
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject :DPR Securitization Loan Facility

Date : 19.12.2014

VakıfBank obtained a new foreign borrowing in Euro and USD currencies, amounting USD 928.6 million equivalent in total, through future flow transaction and treasury financing transaction as well as other required transactions within Diversified Payment Rights securitization program. Total loan facility is procured in seven separate tranches, USD 500 million of which has a maturity of 5 years and USD 428.6 million of which has a maturity of 7 years.

The tranche, which was obtained from European Bank for Reconstruction and Development (EBRD), amounting USD 125 million will be used for the Bank’s medium term lending, including loans that aim to support agribusiness operations of SMEs within the Turkey Agribusiness Financing Facility (TurAFF) and women-led businesses as part of the Advice and Finance for Women in Business program.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Authorization of Share Selling
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Authorization of Share Selling

Date : 28.11.2014

The Head Office is authorized to sell 1.367.330 nominal share of Mastercard Inc. and 86.714 nominal share of Visa Inc. which are accounted under “Available For Sale Financial Assets” on the Bank’s balance sheet.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakıfBank
Law Draft was sent to the Grand National Assembly of Turkey on 20.10.2014
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Law Draft Regarding the Amendments on Banking Law, Some Laws and Decree Laws, which draft was sent to the Grand National Assembly of Turkey on 20.10.2014

Date : 20.10.2014
 
Law Draft Regarding the Amendments on Banking Law, Some Laws and Decree Laws was sent to the Grand National Assembly of Turkey on 20.10.2014.

In the draft, conditions of the transfer of VakıfBank shares which are controlled and represented by General Directorate of Foundations (Vakıflar Genel Müdürlüğü) to Turkish Treasury are stipulated by the amendments on VakıfBank Law No.6219. Additionally, the amendment provides a right to VakıfBank Pension Fund which is one of Class (C) shareholders and the holders of Class (B) shares of VakıfBank which belong to the other appendant foundations and Class (C) shares which belong to other individuals and legal entities to request the Turkish Treasury to acquire their shares with the said conditions.

Moreover, a legislative framework for the establishment of publicly owned participation banks by the banks which are subject to the Law No.4603 or VakıfBank, is being set with the additional articles to Banking Law No.5411.

Law Draft, General Preamble and Article Preambles are on www.tbmm.gov.tr.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
 
Yours sincerely,

VakıfBank
Announcement Regarding the News on the Press
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Announcement Regarding the News on the Press

Date : 08.10.2014
 
The news printed in a daily newspaper today (8 October 2014) does not reflect the truth related to an additional loan granted by VakıfBank for the installments of the previous loan facility granted to Çalık Group (Turkuvaz Radyo Televizyon Haberleşme ve Yayıncılık A.Ş.) regarding the acquisition of ATV-Sabah.

The announcements above are submitted to the public opinion with our legal rights are reserved regarding the news that are contrary to the facts and deceptive. 

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 
 
Yours sincerely,

VakıfBank
Syndication Loan Agreement
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Syndication Loan Agreement

Date : 23.09.2014
 
On 22 September 2014, Vakıfbank signed 1-year term syndication loan agreement which amountsto US$ 168.5 million and €528.75 million equivalent in a ceremony, participated by 26 banks from 16 countries under the coordination of ING Bank, as a facility agent and renewed the syndication loan in September 2013 with a %110 roll over ratio. Total cost of the loan, purpose of which will be foreign trade financing, accrued as Libor +%0.90 and Euribor +%0.90.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
 
Yours sincerely,

Vakifbank
About Leaving of Mr. Yıldırım EROĞLU

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7500

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : About Leaving of Mr. Yıldırım EROĞLU

Date : 08.09.2014

Mr. Yıldırım EROĞLU, Executive Vice President, left his duty upon his retirement with the decision of Bank’s Board of Directors, dated 04.09.2014. 

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Capital Increase of Taksim Otelcilik AS.

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Capital Increase of Taksim Otelcilik A.Ş.

Date : 24.06.2014

It is decided on the Extraordinary General Assembly meeting dated 24.06.2014 of Taksim Otelcilik AS., which is the Bank’s unlisted subsidiary with 51% shares, to increase its paid-in capital TL 65,000,000 from its existing amount of TL 269,256,686.59 to TL 334,256,686.59 via cash capital commitment. One fourth of the increased cash capital will be paid out prior to registry date and the remaining amount at the date being specified by company’s Board of Directors within three months of registry date. Thereby, TL 33,150,650 is committed to pay as cash capital by VakifBank.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
First Ever Euro Denominated Eurobond Issuance Out Of Turkey
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : First Ever Euro Denominated Eurobond Issuance Out Of Turkey

Date : 13.06.2014

Being the first bank establishing Global Medium Term Notes (GMTN) programme in Turkey, VakifBank has issued the first ever Euro denominated Eurobond in Turkey apart from the sovereign within the scope of aforesaid programme which breaks a new ground. Following a record level final orderbook of EUR 5.3 billion, EUR 500 million eurobond issuance with 5 years maturity priced at a yield of 3.65% and a coupon rate of 3.50%.

VakifBank issued the first ever Euro denominated Eurobond of Turkey apart from the sovereign with a final amount of EUR 500 million within the scope of GMTN programme. It is also a record in terms of number of investors with over 450 corporate investors including Central Banks. Thanks to the strong demand, the yield has tightened by 35bps from an initial price of 4.00% to 3.65% final yield and 3.50% coupon rate.

Leading position of VakifBank in foreign debt capital markets is strengthened.

Mentioning his pleasure of intense interest of the investors to Euro denominated Eurobond issuance, CEO of VakifBank, Mr. Halil Aydogan said “This issue has strengthened the leading position of the Bank in foreign debt capital markets. Breaking grounds in International Banking field before, the Bank both made the first ever Euro denominated issuance in Turkey and enable reducing the cost of transaction thanks to oversubscription. Oversubscription to the issuance proved the prestige, respect and high credibility of Turkish banking sector and the Bank one more time. I think that Euro denominated issuance market is now open to Turkish issuers after the great success of the transaction.”

Diversifying Investor Base

Mr. Aydogan, indicating that they continued to diversify their funding structure with the aforesaid issuance, said “We continue to evaluate different and new alternatives in order to diversify our funding structure. While diversifying the funding structure, we also expand our investor base. With approximately USD 1.5 billion private placement issuances within the scope of GMTN programme, we began to reach Asian investors who met VakifBank and Turkey for the first time. We presented an appealing product to Euro investors with this issuance, so we expanded our investor base.”
45% of the bond issuance have been sold to England, 18% to Germany and Austria, 8% to Switzerland, 6% to France, 5% to Benelux countries, 5% to South Europe countries, 6% to other European countries and 7% to countries out of Europe. 68% of the bond issuance have been distributed to asset managers, 20% to banks and 12% to hedge fund and other fund management companies.

Joint Lead Managers of the transaction are Barclays, BNP Paribas, Commerzbank, Erste Group, Natixis and UniCredit.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Vakif Gayrimenkul Yatirim Ortakligi AS. Share Buying
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Vakif Gayrimenkul Yatirim Ortakligi AS. Share Buying

Date : 27.05.2014

On May 27, 2014, 20.000.000 shares of Vakif Gayrimenkul Yatirim Ortakligi AS. (VKGYO) from 3.44 price have been bought by our Partnership. So as per May 27, 2014, our share in capital of Vakif Gayrimenkul Yatirim Ortakligi AS. reached 38.70%. Details of the transaction are listed in the table below.

Transaction Date Transaction Type Nominal Amount of Share Subject to Transaction (TL) Transaction Price (TL/Number) Transaction Amount (TL) Nominal Amount of Shares Before Transaction (TL) Share In Capital Before Transaction (%) Nominal Amount of Shares After Transaction (TL) Share In Capital After Transaction (%)
27.05.2014 Buying 20,000,000.00 3.44 68,800,000.00 58,689,843.03 27.63 78,689,843.03 38.70

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakifBank
Extraordinary General Meeting Record
To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Extraordinary General Meeting Record

Date : 15.05.2014

EXTRAORDINARY GENERAL MEETING RECORD OF VAKIFBANK HELD ON 30 APRIL 2014

Extraordinary General Meeting of Shareholders of Vakifbank for 2014 was held on Wednesday, 30th April 2014, at 10:00 am at Vakifbank Headquarter, located in İstanbul Sanayi Mahallesi, Eski Büyükdere Caddesi, Güler Sokak No:51 Kağıthane under the observation of Ministry Representatives,  Mrs. Şehval KIRIK and Mrs. Sabire ELBÜKEN, tasked by the article of İstanbul Provincial Directorate of Industry and Commerce, dated 29 April 2014 and numbered 11879. 

 As stated in Articles of Association and regulations, call for the meeting was made within its time thereby announcing on Public Disclosure Platform (www.kap.gov.tr) on 04 April 2014, on Electronical General Assembly System (EGAS) of Central Registry Agency, on website of the Bank (www.vakifbank.com.tr), in Turkey press of Dünya and Akşam newspapers dated 07 April 2014 and in Turkish Commercial Registry Gazette, issue dated 07 April 2014, numbered 8544 and also thereby informing the date and the agenda of the meeting to registered shareholders written in stock register and shareholders who submitted his address by giving probative document of his share ownership to the Bank with registered letter before.

Agenda Items of Extraordinary General Meeting on 31 April 2014,

1) As per 419th article of Turkish Commercial Code and 35th article of Articles of Association, Presidency Council was composed and carried out by Mr. Ramazan Gündüz, the Chairman of the Board. Mr. Numan BEK and Mr. Mustafa TURAN were authorized to be Vote Collectors for the signing of General Assembly Minutes. 

2) After the resignation of our Independent Board Member, Mr. Sadık TILTAK, representing group (C), as of 31.03.2014, Mr. Sabahattin BİRDAL’s appointment as Independent Board Member to vacancy by the Board of Directors was submitted to approval of Extraordinary General Assembly pursuant to Article 363 of the Turkish Commercial Code.

3) As per 48th article of Articles of Association, Board of Directors must be formed by nine members including the General Manager, so for the vacancies Mr. Öztürk ORAN, representing Group (A) has been elected as Board of Directors Member for 3 years and Mr. Şeref AKSAÇ, representing Group (B) has been elected as Board of Directors Member for 3 years.  Our Members of Board of Directors are,

1- Mr. Halil AYDOĞAN, General Manager
2- Mr. Adnan ERTEM, Board Member, representing Group (A)
3- Mr. Halim KANATÇI, Board Member, representing Group (A)
4- Mr. Öztürk ORAN, Board Member, representing Group (A)
5- Mr. İsmail ALPTEKİN, Independent Board Member, representing Group (A)
6- Mr. Şeref AKSAÇ, Board Member, representing Group (B)
7- Mr. Ramazan GÜNDÜZ, Board Member, representing Group (C)
8- Mr. Sabahattin BİRDAL, Independent Board Member, representing Group (C)
9- Mr. Mehmet Emin ÖZCAN, Independent Board Member, representing Group (D)

4) Members of Board of Directors have been unanimously decided to be authorized in matters within the scope of Articles 395 and 396 of the Turkish Commercial Code.

5) It is unanimously decided to add the following paragraph after the Article 12, Subclause 4 of Internal Directives regarding Working Principles and Procedures of General Assembly, 
“President of the Meeting may allow shareholders who will attend the general meeting physically to vote via electronic devices if technical infrastructure is appropriate.” 

6) In wishes and requests part, it is stated that the general assembly held in electronic media should also be reflected physically and shareholders should be informed about Board Members in detail.

7) As no other issue was left, the President completed General Meeting at 10.45 both in electronic and physical medias.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakifBank
Syndication Loan Agreement
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Syndication Loan Agreement

Date : 14.05.2014
 
On 16 April 2014, Vakifbank signed 1-year term syndication loan agreement which amounts to US$ 270,5 million and €525 million equivalent in a ceremony, participated by 35 banks from 16 countries under the coordination of Wells Fargo Bank NA and SMBC Bank (Sumitomo Mitsui Banking Corporation), taking part as an agent.  Total cost of the loan, purpose of which will be foreign trade financing,  accrued as Libor +%0,90 and Euribor +%0,90.
 
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
 
Yours sincerely,

Vakifbank
About Board of Directors Member Change
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : About Board of Directors Member Change

Date : 14.05.2014
 
Mr. Sadık TILTAK, our Independent Board Member, representing Group (C), resigned from his duty as of 31 March 2014. Mr. Sabahattin BİRDAL, representing Group (C) has unanimously been decided to be appointed as Independent Board Member in order to complete the rest of Mr. Sadık TILTAK’s period and to be submitted to the first General Assembly’s approval as members of the Board of Directors of the Bank in accordance with the 363rd Article of Turkish Commercial Code and 51st article of the Articles of Association of T. Vakıflar Bankası T.A.O.
 
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
 
Yours sincerely,

Vakifbank
About Board of Directors Change of Positions
To : Investor Community

From : VakıfBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : About Board of Directors Change of Positions

Date : 14.05.2014
 
It is decided to change positions at the first Board of Directors Meeting, held after Extraordinary General Meeting on 28.03.2014, Mr. Ramazan GÜNDÜZ has been appointed as Chairman of the Board and Mr. Mehmet Emin ÖZCAN as Deputy Chairman.
 
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
 
Yours sincerely,

Vakifbank
Dividend Distribution Schedule

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject :Dividend distribution schedule

Date : 03.03.2014

At its meeting dated 28 February 2014, the Bank’s Board of Directors reached the following resolution:

To submit the following actions for the approval of the General Assembly of Shareholders:

To distribute TL 100.000.000,00 to shareholders which is 7,0030% of the distributable profits TL 1.585.538.941,14 in accordance with Article 9 of the Bank’s Charter Act and with Article 84 of the Bank’s Articles of Incorporation, as presented in the profit distribution table below.

To transfer of employee dividend share amounting TL 118.800.000,03 to the applicable account and distribution of the amount up to 3 gross salaries per employee at the date decided by the Board of Directors that was provisioned as dividend share in 2013 will be submitted to the General Assembly in accordance with Article 9/D Act of Bank Law No. 6219 and Article 84/C of Bank’s Prime Contract.

In addition; to transfer TL 1.501.221,14 which is 75% of the TL 2.001.628,19 in proceeds received from the sale of subsidiaries and real estate properties disposed of during 2013, to be tracked in a special liability-side reserve account pursuant to Article 5/1-e of the Corporate Tax Law No. 5520.


 

2013 Profit Distribution Table

 

TL

 

 

Balance Sheet Profit

1.585.538.941,14

Distributable Net Profit

1.585.538.941,14

I- Legal Reserves set aside as per the Bank's Charter Act and Articles of Incorporation

158.553.894,12

II- Profit Distributable to Shareholders

1.426.985.047,02

III- Special Reserves

1.501.221,14

IV- Extraordinary Reserves (The Bank’s Charter Act 9/E)

1.325.483.825,88

V- Dividend to be Paid to Shareholders

100.000.000,00

Net Dividend Amount Equal to the Nominal Value of 1 TL

0,034

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Resignation of the Board Member

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail : investorrelations(at)vakifbank.com.tr

Subject : Resignation of the Board Member

Date : 07.02.2014

Ali Fuat Taşkesenlioğlu, the member of Board of Director, resigned from his duty as of February 7, 2014.

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
2013
Retirement of the Board Member

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Retirement of the Board Member

Date : 22.11.2013

It is approved on the Bank’s Board of Directors’ meeting held on November 21th, 2013 that the Bank’s Board Member Mr. Ahmet CANDAN is to leave his position following his retirement request dated 04.12.2013.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
About the Appointment of Executive Vice President and Reassignment

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : About the Appointment of Executive Vice President and Reassignment

Date : 25.10.2013

On the meeting of the Bank’s Board of Directors dated 25.10.2013; it is decided that Mitat ŞAHİN, Executive Vice President responsible for Human Resources, Planning & Performance, is assigned to the headquarters’ order of service and Mehmet Emin KARAAĞAÇ, the Bank’s Chief Legal Counsel, has been appointed as Executive Vice President.

Mehmet Emin KARAAĞAÇ shall commence his duty pursuant to BRSA approval.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
About the Appointment of Executive Vice President

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : About the Appointment of Executive Vice President

Date : 09.10.2013

It is decided on the Bank’s Board of Directors’ meeting held on October 7th, 2013; Mustafa SAYDAM, Head of Internal Audit Department is appointed as Executive Vice President. He shall commence his duty pursuant to BRSA approval.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
The Board of Directors Decision related to Directorial Change of Positions

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : The Board of Directors Decision related to Directorial Change of Positions

Date : 04.10.2013

It is decided on the Bank’s Board of Directors’ meeting held on October 3th, 2013; İbrahim BİLGİÇ, Executive Vice President responsible for Corporate Banking, Corporate Centers, Corporate Loans and Cash Management Affairs, assigned to the headquarters’ order of service, and Ömer ELMAS, EVP responsible for Legal Services and Non-performing Loans to be terminated his employment contract.

Şahin UĞUR, EVP responsible for Corporate Payroll, and Feyzi ÖZCAN, EVP responsible for Retail Banking, Consumer Loans, Payment System Operations and Insurance Banking, retired, Mehmet CANTEKİN, EVP responsible for Loans Follow-up and Directorates of the Regions, and Economic Research, assigned to the headquarters’ order of service and Muhammet Lütfü ÇELEBİ, SVP responsible for Retail Banking, is appointed as EVP according to the Board Meeting which took place on October 4th, 2013.

Muhammet Lütfü ÇELEBİ shall commence to his duty pursuant to BRSA approval.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
VakıfBank 2013 September Dual Tranche Dual Currency Club Loan

To : Investor Community

From : VakifBank – Investor Relations

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Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : VakıfBank 2013 September Dual Tranche Dual Currency Club Loan

Date : 26.09.2013

VakifBank has signed a second syndication loan agreement of 2013 that amounts to US$ 800 million equivalent with the 107% roll over ratio based on that of last year September in a ceremony participated by 27 banks from 17 countries with senior management. The purpose of the syndication loan will be foreign trade financing.

After the first syndication loan in April this year, US$ 800 million equivalent new syndication loan has been signed by VakifBank. Under the coordination by ING Bank as a facility agent with the participation of 27 banks from 17 countries, VakifBank procured the one-year term loan composed of two tranches amounting to US$ 166 million and € 471 million with total cost of LIBOR/ EURIBOR + 0.75%.

“The leading position in the field of foreign trade financing will continue”

In the syndication loan signing ceremony in the presence of senior officials from 27 banks, the General Manager Halil AYDOĞAN said that “We are very glad to execute successfully second syndication process and achieve the 107% roll over ratio. This facility confirmed again the high credibility of VakifBank in the global market in company with reliance on Turkish economy. We will continue to support the reel economy and finance foreign trade by creating foreign borrowings. Once again, I would like to thank our participant banks providing this loan.

“Private Placements by the means of rising diversity of sources”

Mr. Halil AYDOĞAN indicating that VakifBank aims to increase the variety of non-deposit sources within the scope of GMTN program that has been established by VakifBank for the first time in Turkey. He also said that “As of June in 2013, VakifBank issued US$ 500 million equivalent private placement mostly to Asian investors who have met with Turkey and VakifBank first time and hold pioneer position in Turkey by reaching totally US$ 1.1 billion equivalent foreign currency bonds. In this way, diversity of sources with cost-effective has been proceeded in the especially rising uncertainty and volatility in the global conjuncture.

“Despite of the global volatility, costs continue to reduce”

Mr. Halil AYDOĞAN said that “VakifBank renovated the loan within the cost of LIBOR/EURIBOR+0.75% with the 107% rollover ratio which was nearly US$ 735 million in September of the last year. VakifBank continues to obtain funds at very competitive costs by the means of progressing the rise of business volume provided by banks being in financial relationships with VakifBank.”

He appreacited to all of the participating banks which supported VakifBank for the loan that prove again its leading position in Turkish banking sector, reputatation in international markets and also established strong and long standing relations with correspondent in the worldwide.

Banks that has participated in this facility as lead arrangers: The Bank of Nova Scotia, Barclays Bank PLC, BNP Paribas, Commerzbank, Rabobank, Deutsche Bank AG, Erste Group Bank AG,Goldman Sachs Bank, ING Bank, National Bank of Abu Dhabi, Natixis, Standard Chartered Bank, Wells Fargo.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
The decision of Turkish Competition Authority

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : The decision of Turkish Competition Authority

Date : 17.09.2013

It was announced that Turkish Competition Authority’s decision which was dated 08.03.2013 and numbered 13-13/198-100, about administrative fines, was paid on the condition with holding the right of appeal to the Court.

VakifBank sued the case to the Ankara 8. Administrative Court for suspending of execution and then cancellation for the decision as well as the demand for the repayment of the paid administrative fines.

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
The payment of the administrative fine

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : The payment of the administrative fine

Date : 16.08.2013

It was announced that investigation by Turkish Competition Authority was opened according to the Act on Protection of the Competiton No. 4054, for 12 banks including Vakifbank and the result of this investigation, on the condition with holding the right of appeal to the Court, VakifBank has been punished for the administrative fine which is based on the amount of TL 82.172.910.

On the condition with holding the right of appeal to the Court, Administrative penalty was paid to Large Tax Payers Office at 15.08.2013 by utilizing advance payment discount which is based on the 5326 Article of Misdemeanors Law No.17, amounting TL 61.629.682,50 as three quarter of total fine.

VakifBank decided to sue the case to Ankara Administrative Court for the cancellation of the administrative fine.

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
VakıfBank 1H2013 Financial Results

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : VakıfBank 1H2013 Financial Results

Date : 06.08.2013

VakifBank achieved its net profit TL 904.7 million up by 28.5% year on year and 382.1 million up by 34.3% quarterly basis in the first half of 2013. Total asset size reached TL 117.9 billion with an increase of 10.4%, total cash loans of VakifBank rose to TL 77.1 billion growing by 11.2% and also total deposits were up by 9.8% and reached to TL 77.1 billion on quarterly basis.

VakifBank, which increased the amount of the sources provided to the economy with the cash and non cash loans to TL 97.9 billion, announced its unconsolidated financials dated June 30, 2013. VakifBank’s CEO Mr. AYDOĞAN assessed the unconsolidated financial results related to the first half of 2013 and stated his satisfaction with the cash and non-cash loans reaching TL 100 billion as VakifBank which has been one of the largest contributor to the reel economy with the evidence of the share of loans in assets reaching 65.4% that is one of the highest ratio in sector.

Strong Loan Growth

Mr. AYDOĞAN emphasized that the cash loans of VakifBank increased by 24.3% year on year with the result of rapid growth of the cash loans in the second quarter which was up by 11.2% quarterly basis. This strong growth supported by the Project loans of energy and infrastructure in which VakifBank will continue to grow in order to provide value for Turkish economy..

Cooperation with PTT

Mr. AYDOĞAN stated the cooperation with Turkish Postal Authority (PTT) on retail lending scope and said that retail payroll PTT payroll customers and PTT employees will be able to benefit from 2000 PTT branches all over the country in order to meet their needs easily.

Substantial Deposit Growth

Mr. AYDOGAN continued to give information of that total deposits in second quarter increased to TL 71.8 billion with 9.8% growth rate quarterly basis in paralel with strong loan growth. Hereby, VakifBank’s annual growth came 12.9% accordingly.

In addition he emphasized that VakifBank increased the diversification of sources, continued as follows: “VakifBank has carried out Eurobond issuance of USD 600 million within the scope of Global Medium Term Note program that is initial in the banking sector in April, private placements in different maturities and currencies, and Syndication Loan renovated with 106% turnover ratio in April 2013 in order to continue to diversify funding structure of the bank.

Branch openings continued

Mr. AYDOGAN underlined that with 62 new branch openings in 2013 VakifBank reached 806 branches already in line with the target of getting 850 branches till the end of this year.

VakifBank’s June 30, 2013 summary of unconsolidated financial results


Net Profit Before Tax TL 1,550.0 million
Net Profit TL 904.7 million
Total Assets TL 117,881.2 million
Total Cash and Non-cash Loans TL 97,941.0 million
Cash Loans TL 77,138.0 million
Non-Cash Loans TL 20,803.0 million
Total Deposits TL 71,834.8 million
Equity TL 11,934.6 million
Funds Borrowed TL 8,661.6 million

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
VakifBank and PTT Cooperation in Retail Lending

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : VakifBank and PTT Cooperation in Retail Lending

Date : 23.05.2013

VakifBank made an agreement with Turkish Postal Authority (PTT) on retail lending scope. According to the agreement, retired PTT payroll customers and PTT employees will be able to benefit from “VakifBank General Purpose Consumer Loan” via almost 2.000 PTT branches all over the country.

Mr. Halil AYDOGAN, CEO of VakifBank and Mr. Osman TURAL, Chairman and General Manager of PTT, participated to the signing ceremony which is held in Ciragan Palace. Strong infrastructure and widespread distribution network of PTT came together with general purpose consumer loan of VakifBank to create synergy for the purpose of better service to retired PTT payroll customers and PTT employees.

“Whole loan process will be carried out via PTT Branches”

VakıfBank’s CEO Mr. Halil AYDOGAN stated: “One of the priorities of VakifBank is to reach as many customers as possible in order to fulfil their needs. It is essential to enrich our distribution network, not only through increasing our branch number but also through different instruments. I believe this cooperation with PTT will create such opportunity for VakifBank given the fact that many PTT branches located in the areas where we do not have presence. PTT branches will be serving as VakifBank branches for PTT payroll customers and PTT employees for providing general purpose consumer loan. As of 1Q13, our General Purpose Consumer Loan portfolio is over TRY 10.6 Billion. Such strong figure is the reflection of view that retail customers prefer VakifBank. This agreement will enable us to reach easily to around 2 Million retirees whose payroll is provided by PTT. Our aim is to support those people in a faster way via almost 2.000 PTT branches all over the country. According to the agreement, loan application, loan approval, dispersement and loan repayment will be carried out through PTT branches. Our target is to generate around TRY 1.5 Billion of General Purpose Consumer loan per year from this cooperation. Our dominant position in General Purpose Consumer lending will further strengthen thanks to this cooperation.”

“PTT prouds of increasing its high quality services to its customers”

Chairman and General Manager of PTT Mr. Osman TURAL stated: ”PTT, as a public institution with an accumulated experience of 173 years, always looks for new alternatives and business models for a better service quality to Turkish people. This cooperation with VakifBank should be considered within this context. We have doing business with VakifBank since 2004. We are very proud of adding another new service to our product chain.

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
VakıfBank 1Q2013 Financial Results

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : VakıfBank 1Q2013 Financial Results

Date : 06.05.2013

VakıfBank achieved its net profit TL 523 million up by 25% year on year and 16% quarterly basis. Total asset size reached to TL 106.8 billion with an increase of 12.8% and also the cash loans of VakıfBank reached to TL 69.4 billion growing by 15.3%

VakıfBank, which increased the amount of the sources provided to the economy with the cash and non cash loans to TL 87.5 billion, announced its unconsolidated financials dated May 3, 2013. VakıfBank, with increasing loans share in the balance sheet to 65%, was among the largest contributor to the real economy.

Steady Profit Growth

VakıfBank’s CEO Mr. AYDOĞAN assessed the unconsolidated financial results related to the first quarter of 2013 and stated that Vakıfbank has steadily sustained to increase its profitability recently, with a net profit TL 523 million in the first quarter reached to 17.4% return on average equity and 2% return on average assets.

Increasing support for reel economy

Mr. AYDOĞAN emphasized that the cash loans of VakıfBank increased by 15.3% year on year and 2.2% quarterly basis; VakıfBank has proceeded of being supportive in production, exports, projects and employment and said that “VakıfBank continues to grow in segments with a high efficiency and create value for Turkish economy.”

Increasing diversity of sources

Mr. AYDOĞAN, who emphasized that one of the Vakifbank’s priorities is to increase the diversity and maturity of sources, continued as follows: “VakıfBank has carried out bond and bill issuances both in Turkey and international markets, and long-term loans provided from international markets in order to continue to diversify funding structure of the bank. VakıfBank’s strategy with regard to diversification of the non-deposit sources is significant to reduce asset-liability maturity mismatch. Thus, VakifBank will continue to perform bond issuances both in the domestic and international markets.”

Growth by profitability

Mr. AYDOĞAN underlined that the process of recruitment and new branch openings is ongoing and VakıfBank will continue to increase the profitability in a sustainable manner by means of strong capital structure and loan-weighted efficient growth strategy.

VakıfBank’s March 31, 2013 summary of unconsolidated financial results


Net Profit Before Tax TL 655.5 million
Net Profit TL 522,7 million
Total Deposits TL 65,447.5 million
Total Assets TL 106,788.4 million
Cash Loans TL 69,388.1 million
Non-Cash Loans TL 18,109.6 million
Equity TL 12,178.6 million

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete informati responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Authorization for Syndicated Facility

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Authorization for Syndicated Facility

Date : 08.04.2013

The consortium of international banks, coordinated by BofA Merrill Lynch, has been authorized to grant one-year term syndicated facility in order to renew the syndicated loan provided in April of 2012.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
S&P Credit Ratings Upgrade

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : S&P Credit Ratings Upgrade

Date : 08.04.2013

Standart&Poors has raised Vakıfbank’s long-term credit ratings to ‘BB+’ from ‘BB’ and confirmed the outlook as ‘stable’.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
New CEO of VakifBank

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : New CEO of VakifBank

Date : 02.04.2013

Following the departure of Mr. Süleyman KALKAN who served as the CEO since March 19, 2010, Mr. Halil AYDOĞAN was appointed as the new CEO of Vakifbank.

We here by declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
New Chairman of the VakıfBank Board of Directors

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : New Chairman of the VakifBank Board of Directors

Date : 01.04.2013

On the Board of Directors meeting following the Ordinary General Assembly’s meeting held on March 29th, 2013; It was elected Ramazan GÜNDÜZ as the Chairman and Mehmet Emin ÖZCAN as the Deputy Chairman of the Vakifbank Board of Directors.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
VakıfBank Annual General Assembly

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : VakifBank Annual General Assembly

Date : 29.03.2013

Vakifbank’s 59th Annual General Assembly took place in İstanbul on March 29th, 2013.

1. Independently audited 2012 balance sheet and profit/loss accounts were examined and approved.

2. Members of the Board of Directors and auditors were discharged seperately regarding 2012 operations by a large majority.

3. Amendments to Articles 5, 22, 24, 25, 29, 32, 37, 41, 43, 44, 45, 46, 50, 53, 54, 57, 59, 60, 63, 72, 74, 84, 85 and provisional Article 1 of the Primary Contract and addition of Article 74/A to the Primary Contract was approved by a large majority.

4. In accordance with Article 9 of the Bank’s Charter Act and with Article 84 of the Bank’s Articles of Incorporation; distribution of TL 100.000.000,00 to shareholders which is 7,7367% of the distributable profits TL 1.292.548.022,55 after deducting TL 23.915.051 deferred tax asset net revenues from TL 1.460.079.520,51 total net profits of 2012 as presented in the profit distribution table, distribution of TL 105.300.000 personnel dividend which was provisioned in 2012 and transferring TL 3.075.370,89, which is 75% of the TL 4.100.494,52 in proceeds received from the sale of subsidiaries and real estate properties disposed of during 2012, to be tracked in a special liability-side reserve account pursuant to Article 5/1-e of the Corporate Tax Law No. 5520 were approved.

5. Mehmet Emin ÖZCAN and Adnan ERTEM representing Group(A), Ahmet CANDAN representing Group (B), Ramazan GÜNDÜZ representing Group (C) and independent members İsmail ALPTEKİN, Sadık TILTAK and Ali Fuat TAŞKESENLİOĞLU have been appointed as members of the Board of Directors of the Bank in accordance with the 48th article of the Articles of Association of T. Vakıflar Bankası T.A.O. for a period of three years.

6. It was decided to be elected Mehmet HALTAŞ and Yunus ARINCI as Supervisory Board memberships for three years in accordance with the amendment to title 44 of Bank’s Articles of Association within the scope of article 7 of the Ordinary General Assembly agenda.

7. The compensation of the Chairman and Members of the Board of Directors were determined as TL 8.500,00 net per month and statutory auditors' compensation as TL 6.000,00 net per month for year 2012 and it was determined to continue distributing bonus payments four times in a year in an amount of their monthly net salary.

8. The renewal of agreement with KPMG for the independent audit of 2013 financials was approved.

9. The General Assembly was informed regarding the contributions and donations in 2012 (scholarships, educational aids, contributions to social foundations) of TL 2.106.583,48 based on the decision and authorization of the Board of Directors.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Authorization of Head Office for Issuance of Bank Bills

To : Investor Community

From : VakifBank – Investor Relations

Tel : (90-212) 316 7120

Fax : (90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Authorization of Head Office for issuance of Bank Bills

Date : 15.03.2013

On the meeting of the Bank’s Board of Directors which held on March 15th, 2013; it is decided to authorize the Head Office regarding issuing, at once or more, TL-denominated bank bill and/or bond with a total TL4.300.000.000 nominal value and maximum 5-year term in different types and maturities in abroad or Turkey in order to be made required fillings in the presence of the Banking Regulation and Supervision Agency, Capital Markets Board and other authorities.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Resolution of the Board of Directors regarding the Donation and Aid of 2012

To : Investor Community

From : VakifBank – Investor Relations

Tel :(90-212) 316 7120

Fax :(90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Resolution of the Board of Directors regarding the donation and aid of 2012

Date : 14.03.2013

On the meeting of Bank’s Board of Directors dated 14.03.2013, it is decided that the donation and aid for the scholarships, educational purposes, and social foundations amounting TL2.106.583,48 within the year 2012, pursuant to the resolution and authority of the Board of Directors, is will be submitted to the Shareholders at the first General Assembly Meeting.

We here by declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Selection of Independent Audit Firm

To : Investor Community

From : VakifBank – Investor Relations

Tel :(90-212) 316 7120

Fax :(90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Selection of independent audit firm

Date : 14.03.2013

As its meeting dated 28 February 2013, The Bank’s Board of Directors reached the following resolution;

The respect of which the renewal of the contract in regard to recommissioning Akis Independent Public Accountants Audit and Consulting (KPMG), which has been charged with Bank’s independent auditing activities as of March 2007, to progress with the same function for the financial year 2013 -annual balance sheet term- will be submitted for the General Assembly’s approval.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Dividend Distribution Schedule

To : Investor Community

From : VakifBank – Investor Relations

Tel :(90-212) 316 7120

Fax :(90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Dividend Distribution Schedule

Date : 14.03.2013

At its meeting dated 14 March 2013, the Bank’s Board of Directors reached the following resolution:

To submit the following actions for the approval of the General Assembly of Shareholders:

To distribute TL100.000.000,00 to shareholders which is 7,7367% of the distributable profits TL1.436.164.469,51 after deducting TL23.915.051 deferred tax asset net revenues from TL 1.460.079.520,51 total net profits of 2012, in accordance with Article 9 of the Bank’s Charter Act and with Article 84 of the Bank’s Articles of Incorporation, as presented in the profit distribution table below.

To transfer TL3.075.370,89 which is 75% of the TL4.100.494,52 in proceeds received from the sale of subsidiaries and real estate properties disposed of during 2012, to be tracked in a special liability-side reserve account pursuant to Article 5/1-e of the Corporate Tax Law No. 5520.

In addition; transfer of employee dividend share amounting TL 105.300.000 to the applicable account and distribution of the amount up to 3 gross salaries per employee at the date decided by the Board of Directors that was provisioned as dividend share in 2012 will be submitted to the General Assembly in accordance with Article 9/D Act of Bank Law No. 6219 and Article 84/C of Bank’s Prime Contract.


2012 Profit Distribution Table TL
Balance Sheet Profit 1.460.079.520,51
Deferred Tax Assets (-) 23.915.051
Distributable Net Profit 1.436.164.469,51
Baz Varlık: USD/TL Kuru
I- Legal Reserves set aside as per the Bank’s Charter Act and
Articles of Incorporation		 143.616.446,96
II- Profit Distributable to Shareholders 1.292.548.022,55
III- Special Reserves 3.075.370,89
IV- Extraordinary Reserves (The Bank’s Charter Act 9/E) 1.189.472.651,66
V- Dividend to be Paid to Shareholders 100.000.000,00

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Independent Membership of the Board of Directors

To : Investor Community

From : VakifBank – Investor Relations

Tel :(90-212) 316 7120

Fax :(90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Nomination of Independent Members of the Board of Directors                                

Date : 01.03.2013

On the meeting of Bank’s Board of Directors dated 28.02.2013 and numbered 84222; in pursuance of Corporate Governance Principles of Capital Markets Board of Turkey and with the resolution taken in the meeting -27.02.2013- of Bank’s Corporate Governance and Nominating Committee, it has been decided to nominate İsmail Alptekin, Ali Fuat Taşkesenlioğlu and Sadık Tıltak as an independent member of the Board of Directors of Vakifbank on the 59th Ordinary General Assembly Meeting of the year 2012.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Investigation of Turkish Competition Authority

To : Investor Community

From : VakifBank – Investor Relations

Tel :(90-212) 316 7120

Fax :(90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Investigation of Turkish Competition Authority

Date :11.03.2013

As a result of the investigation conducted by Competition Board on 12 banks including VakıfBank and 2 financal institutions in order to determine any breach of article 4 of the Law on the Protection of Competition No. 4054, in regard to an agreement and/or concerted action in the field of deposit, loan and credit card services, it has been decided that VakıfBank has been charged a penalty of TL 82.172.910 , with the decision of 8 March 2013 dated and 13-13/198-100 numbered, and has the right to appeal to Ankara Administrative Court and further disclosure to be made regarding the process.

These administrative penalty will be paid as three fourths of the total charge amounting TL 61.629.682,50 within 30 days according to article 17 of Misdemeanor Law No. 5326. Following the notification of the reasoned decision, any necessary announcement will be made by VakıfBank according to the assessment of Bank’s Committees.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
VakıfBank Annual General Assembly

To : Investor Community

From : VakifBank – Investor Relations

Tel :(90-212) 316 7120

Fax :(90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : VakifBank Annual General Assembly                                

Date : 06.03.2013

VakifBank's 59th Annual General Assembly for 2012 will take place on March 29th, 2013 at 14:30 p.m in the conference hall at the additional service building of the Headquarters which is located on Sanayi Mahallesi, Eski Büyükdere Caddesi, Güler Sokak No: 51 Kağıthane / İSTANBUL. A copy of the agenda is written below. The Agenda of Ordinary General Assembly on March 29, 2013:

1. Opening and the formation of presidency council,

2. Authorization of the President and vote collectors for the signing of General Assembly Minutes,

3. Readings and consultation of reports by Board of Directors, Auditors and Court of Accounts on 2012 financials,

4. Reading, consultation and approval of independent auditor financial reports for year 2012 in regards,

5. Discharge of the Members of the Board of Directors regarding the 2012 financials,

6. Discharge of the Members of the Auditors regarding the 2012 financials,

7. Presentation of the amendments to Articles 5, 22, 24, 25, 29, 32, 37, 41, 43, 44, 45, 46, 50, 53, 54, 57, 59, 60, 63, 72, 74, 84 and 85, provisional Article 1 of the primary contract and the presentation of provisional Article 74/A to be included in the primary contract,

8. Approval of the Internal Directives regarding Turkiye Vakiflar Bankası T.A.O General Assembly’s Rules of Precedures and Principles.

9. The acceptance or decline of the dividend distribution proposal by the Board of Directors,

10. The renewal of elections for the Board of Directors,

11. The renewal of elections for the Audit Committee,

12. Determination on the compensation of the Chairman, the Board of Directors and the Audit Committee,

13. Approval of the external audit firm election by General Assembly in accordance with the legislation of Capital Markets Board of Turkey and Turkish Commercial Code,

14. Presentation of donations made during the year to the shareholders,

15. Wishes and requests

16. Closing remark

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,

VakifBank
Distribution of Tasks among Board of Directors’ Committees

To : Investor Community

From : VakifBank – Investor Relations

Tel :(90-212) 316 7120

Fax :(90-212) 316 7126

e-mail: investor.relations(at)vakifbank.com.tr

Subject : Distribution of Tasks among Board of Directors’ Committees                                      

Date : 07.01.2013

In the Board of Directors meeting held on 03.01.2013; the distribution of tasks among the Board of Directors’ Committees was redetermined as follows:

Auditing Committee:

Ramazan Gündüz

Ali Fuat TAŞKESENLİOĞLU

Credit Committee:

Halim KANATÇI (Full Member)

Sadık TİLTAK (Full Member)

Ali Fuat TAŞKESENLİOĞLU(Associate Member)

Ahmet CANDAN (Associate Member)

Corporate Governance and Nominating Committee:

İsmail ALPTEKİN

Sadık TİLTAK

Remuneration Committee:

İsmail ALPTEKİN

Dr. Adnan ERTEM

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,

Vakifbank
2012
Press Release by Vice Prime Minister Ali BABACAN on VakıfBank Equity Structure
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject :Press Release by Vice Prime Minister Ali BABACAN on VakıfBank Equity Structure
Date : 24.09.2012 

You may find below the press release by Vice Prime Minister Mr. Ali BABACAN on September 22, 2012 regarding the transfer of %58.51 share of VakıfBank which is managed and represented by Directorate General of Foundations to the Treasury;

Further information related to the subject shall be disclosed to public.

“As is known, VakıfBank realized IPO of 25,2% shares in 2005 and major shareholding belongs to foundations with 58,51% shares and such shares are represented and managed by Vakıflar General Directorate.

In last 10 years, VakıfBank has progressed in balance sheet 10 times, in cash loans 21 times and in equities 13 times, and because of this growth and strategic targets of the bank, a change in shareholding structure became necessary. Moreover, As a result of theBRSA policy to keep dividend in banks to ensure strength of capital structure, dividend distribution to Vakıflar General Directorate is limited, and this also limits the charity, social, cultural and economic terms and services of Vakıflar General Directorate provided in its articles of foundation.

Within this consideration, the transfer of the major shareholding belonging to foundations to Treasury is intended. A securities fund will be established as purchase amount for such shares, and this fund will be represented and managed by Vakıflar General Directorate. As a result of this change, a definite and permanent income source will be provided in order for Vakıflar General Directorate to conduct its activities more efficiently. On the purpose of this change, a draft law to be prepared on transfer of VakıfBank shares represented and managed by Vakıflar General Directorate to Treasury of Turkey and will be submitted to National Assembly as soon as possible.

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.
Yours sincerely,
VakıfBank
VakıfBank 2012 September Dual Tranche Dual Currency Club Loan
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject :VakıfBank 2012 September Dual Tranche Dual Currency Club Loan
Date : 18.09.2012 

VakıfBank, has signed a new syndication loan agreement, more than 100% rollover, that amounts USD 735 million in a ceremony participated by 24 banks from 16 countries with senior management. The purpose of the second syndication loan in 2012 will be foreign trade financing as in the first deal.

Both in terms of branch expansion and employment VakıfBank grow steadily. Under the coordination by ING Bank as a facility agent, VakıfBank has signed a new syndication loan agreement that amounts USD 151 million and € 444.5 million in a ceremony participated by 24 banks from 16 countries with senior management. The total cost of the one-year term loan composed of two tranches in US$ and EURO is LIBOR/ EURIBOR + 1.35%. High-level officials attended to syndicated loan signature ceremony from 24 participating bank. VakıfBank General Director Süleyman Kalkan stated that "we are delighted to achieve more than 100% roll-over ratio during the execution of second sydication loan and we keep supporting the real sector and financing foreign trade by increasing amount of the total foreign borrowings. I would like to thank all the participant banks for their valuable support in providing the facility.

Mr. KALKAN has specified that successful macroeconomic obtained since the beginning of the year up to so far and stable decisive policies applied throughout the soft landing process has increased the interest against Turkey. He also emphasized VakıfBank’s credibility in international markets has been confirmed with USD 735 million equivalent syndicated facility.

Mr. BEK, Executive Vice President responsible for International Banking and Investor Relations, stated that “We achieved more than a 100% roll-over ratio which is above that of last year with a total amount of USD 710 million equivalent and the total cost of facility has realized Libor/Euribor + 1.35% with a decrease of 10 basis points compared to last year in April 2012. Especially in an environment where the problems and uncertainty continue on a global basis; our new facility with a decrease of 10 basis points demonstrate the prudent position of VakıfBank through the international financial community and the successful collaboration with the international relationship banks. I would like to thank all the participant banks for their confidence and continuous support to both VakıfBank and Turkey Banks that have participated in the loan as the mandated lead arrangers are: Barclays Bank PLC, BNP Paribas, Commerzbank, Deutsche Bank AG, Goldman Sachs Bank, ING Bank, National Bank of Abu Dhabi, Rabobank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Wells Fargo.

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.
Yours sincerely,
VakıfBank

Yours sincerely,
VakıfBank
VakıfBank 1H2012 Financial Results
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : VakıfBank 1H2012 Financial Results 
Date : 09.08.2012 

VakıfBank, which realized its net profit TL 704 million up by 9% compared to last year, increased its total asset size to TL 96.7 billion with an increase of 12% and also the cash loans of VakıfBank reached to TL 62.1 billion growing by 17.6%

VakıfBank, which increased the amount of the sources provided to the economy with the cash and non cash loans to TL 78,9 billion, announced its unconsolidated financials dated June 30, 2012. Despite the accounting policy changes regarding the net fees and commissions revenues, VakıfBank announced a net profit of TL 704 million up by 9% compare to last year. The Bank increased its cash loans by 17.6% to TL 62.1 billion and its deposits by 19.5% to TL 63.6 billion YoY.

VakıfBank’s CEO Mr. KALKAN assessed the unconsolidated financial results related to the first half of 2012 and stated that the comparable annual net profit is around 18.7% level when unconsidering the effect of accounting change regarding the cash collected net fees and commissions income.

Mr. KALKAN emphasized that VakıfBank has announced the 2012 as the year of focusing on the SME loans and within this perspective the Bank achivied an increase of 100% compared to that of last year and said that “we have been one of the leading banks in SME lending. Thanks to our total equity above TL 10 billion the support directed to SME’s shall be continuing in the further future.”

Mr. KALKAN continued as follows; “there has been a serious increase in our non deposit sources in the second quarter of 2012. Thanks to the sydication loan that we realized in april 2012 amounting USD 920 million, the eurobond issuance amounting USD 500 million and the bond issuance in June 2012 amounting TL 1 billion, there has been an increase in our non deposit sources amounting TL 3.6 billion. With the support of medium and long term sources constituting the 6% of our deposit base, we have taken a step to mitigate the maturity mismatch which is a structural problem of turkish banking system.”

MR Kalkan stated that they increased the number of branches to 690 in the first half of 2012 from 545 in 2009 and said that “we have already reached to a number 724 with the branches open last month. We will be breaking a great record by opening 47 more branches in August and we will be reaching to a number of 750 in the end of 2012. We also increased our number of employees to 13,343 with an increase of 1,121. Our target for the end of 2015 is to reach 1,000 branches and 15,000 employees.”

Mr. KALKAN stated that VakıfBank has been sponsoring to VakıfBank Ladies National Volleyball Team since 2010 and the raising trend in Turkish Volleyball especially in recent years has continued with the participation to London Olympics and Mr. KALKAN said that “we are proud of this situation because we are the sponsor of young national volleyball team as well. We are going to continue to support the turkish volleyball in the further future.”
VakıfBank’s June 30, 2012 summary of unconsolidated financial results

Net Profit before Tax TL 895.2 million
Net Profit TL 704,2 million
Total Deposits TL 63,609.9 million
Total Assets TL 96,703.8 million
Cash Loans TL 62,068.3 million
Non-Cash Loans TL 16,835.7 million
Equity TL 10,212.1 million

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.
Yours sincerely,
VakıfBank

Yours sincerely,
VakıfBank
Redemption of VakıfBank Bank Bill, Term Terminates on 27.07.2012
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Redemption of VakıfBank Bank Bill, Term Terminates on 27.07.2012
Date : 27.07.2012 

Reference : Public Disclosure dated January, 30th, 2012 
The Bank Bill with 178 days maturity, ISIN code of TRQVKFB71212, 1 Billion TL nominal value offered to public and issued by VakıfBank on 25-26-27 January 2012 with regard to Capital Market Board’s Record Document, numbered 2/BB-675, dated 12.01.2012 and authorization numbered B.02.6.SPK.0.13.00-105.03.01-70-511 came to maturity as of today (27.07.2012) and the redemption of aforementioned bank bill has been realized.

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Loan Facility Within the Scope of EBRD and TurAFF Project
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Loan Facility Within the Scope of EBRD and TurAFF Project
Date : 27.07.2012 

There has been signed a loan agreement valued at 20 million Euro within the scope of European Bank of Reconstruction and Development (EBRD) and Turkish Agribusiness Financing Facility (TurAFF) project. The maturity of the loan which shall be provided for use of small and medium sized enterprises operating in agricultural field in development priority regions is 5 year along without pay-back of the first 2 years. 

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Sale Results of VakıfBank Bank Bills Public Offering
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Sale Results of VakıfBank Bank Bills Public Offering
Date : 26.07.2012 

The Issuance of the 4. and 5. Bank bills, with 175 days maturity and 500.000.000 TL nominal value and with 318 days maturity and 200.000.000 TL nominal value by VakıfBank is realized on 23-24-25 July 2012 via Vakıf Yatırım Menkul Değerler A.Ş. with regard to Capital Market Board’s Record Document dated 10 July 2012 and numbered 44/BB-569. Within the frame of “Public offering amount” chapter specified in public offering circular, the balance value of 101.930.013 TL nominal value registered for the 5. Serial Bank Bill has been added to the issue value of the 4. Serial Bank Bill with 175 days maturity. In this context, demands of all investors to public offering have been fulfilled by using the additional sale right of 122.635.099 TL nominal value and total issue values for the 4. And 5. Serial Bank Bills have been 724.565.112 TL nominal value and 98.069.987 TL nominal value, respectively. 

The specified interest rates, demand and distribution results are as follows;

Term (Day) 175 318
Simple Interest Rate (%) 8,73 9,07
Price (TL) 0,95982 0,92674
Investor Group Total Demanded Nominal Value Total Demand in Items Total Allocated Nominal Value Total Distribution in Items
Domestic Individual Investors 381.595.326 5.329 381.595.326 5.329
Domestic Individual Investors 342.969.786 58 342.969.786 58
TOTAL 724.565.112 5.387 724.565.112 5.387

Bond with 175 Days Maturity : 

As a result the demand collected within the scope of the public offering of 4. Serial Bank Bill; 47% of the total value has been allocated to Domestic Institutional Investors and %53 of that to the Domestic Individual Investors. 

TABLO

Bond with 318 Days Maturity : 

As a result the demand collected within the scope of the public offering of 5. Serial Bank Bill; 63% of the total value has been allocated to Domestic Institutional Investors and %37 of that to the Domestic Individual Investors. 

TABLO

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
Amendment in the Issue Value of 175 Maturity Days Bank Bill and 318 Days Maturity Bank Bill
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Amendment in the Issue Value of 175 Maturity Days Bank Bill and 318 Days Maturity Bank Bill
Date : 26.07.2012 

Reference : Public Disclosure Dated 20th July, 2012

The demand was collected on 23-24-25 July 2012 for the issuance of the 4. and 5. Serial Bank Bills, term terminates on 18.01.2013 with a 175 days maturity and 500 Million TL nominal value, term terminates on 10.06.2013 with a 318 days maturity and 200 Million TL nominal value which was carried out by VakıfBank with regard to Capital Market Board Record Document, dated 10.07.2012 and No: 44/BB-569.

The demand was collected on 23-24-25 July 2012 for the issuance of the 4. and 5. Serial Bank Bills, term terminates on 18.01.2013 with a 175 days maturity and 500 Million TL nominal value, term terminates on 10.06.2013 with a 318 days maturity and 200 Million TL nominal value which was carried out by VakıfBank with regard to Capital Market Board Record Document, dated 10.07.2012 and No: 44/BB-569. 

The simple interest rate for the 4. Serial Bank Bill with 175 days maturity and sale price per unit for the Bank Bill with 100 TL nominal value are specified as 8,73 % (compound interest rate :8,93) and 95,982 TL, respectively. The simple interest rate for the 5. Serial Bank Bill with 318 days maturity and sale price per unit for the Bank Bill with 100 TL nominal value are specified as 9,07% (compound interest rate :9,12) and 92,674 TL, respectively. 

There has been collected a total demand of 724.565.112 TL nominal value for the 4. Serial Bank Bill, term terminates on 18.01.2013 with a 175 days maturity, 500 Million TL nominal value and 98.069.987 TL nominal value for the 5. Serial Bank Bill, with a 318 days maturity and 200 Million TL nominal value. 

The balance at 101.930.013 TL nominal value for the 5. Serial Bank Bill with 318 days maturity specified within the frame of “3.1. Public offering amount” chapter of public offering circular has been added to the issue value of 4. Serila Bank Bill with a 175 days maturity. Furthermore, the additional sale right of 122.635.099 has been used and the total issue value of the 4. Serial Bank Bill has been determined as 724.565.112 TL nominal value and that of the 5. Serial Bank Bill with a 318 days maturity has been determined as 98.069.987, thus and so, demands of all investors to public offering have been fulfilled. 

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
Public Offering Results of VakıfBank Bank Bill
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Public Offering Results of VakıfBank Bank Bill
Date : 26.07.2012 

ISIN Code of the Issued Debt Security : TRQVKFB11317 - TRQVKFB61312
Type of Issued Debt Security : Banka Bill
Sale Method : Public Offering
Nominal Value of Issued Bank Bill : 500,000,000.- TL / 200,000,000.-TL (500,000,000 TL Additional Offer Right Availability)
Nominal Value of Sold Bills : 724,565,112.-TL / 98,069,987.TL
Price of Issue : 95.982- TL / 92.674.-TL
Maturity of Issued Debt Security : 18.01.2013 Term Termination (175 Maturity Days) / 10.06.2013 Term Termination (318 Maturity Days)
Redemption Plan for Issued Debt Security : The Principal and Interest Repayment shall be done at once on the term termination date.
Interest Rate of Issued Debt Security : Simple Interest Rate : %8.73 – Compound Interest Rate : %8.93 / Simple Interest Rate :%9.07 Compound Interest Rate%9.12

Reference: Public Disclosure Dated July 20th, 2012 

The issuance and public offering within the scope of bank bill and/or bond issuance up to 3 Billion TL of the 4. and 5. serial bank bills, term terminates on 18.01.2013 with a 175 days maturity and 500 Million TL nominal value, term terminates on 10.06.2013 with a 318 days maturity and 200 Million nominal value have been carried out on 23-24-25 July 2012 via demand collection method.

The interest rates of the 4. and 5. Bank Bills forming a basis to issuance have been announced via public disclosure dated 20.07.2012. Accordingly, it has been clarified that the simple interest rate and compound interest rate forming a basis to issuance of 4. Serial Bank Bill, term terminates on 18.01.2013 with a 175 maturity are 8,73% and 8,93%, respectively and the simple interest rate and compound interest rate forming a basis to issuance of 5. Serial Bank Bill, term terminates on 10.06.2013 with a 318 days maturity are 9,05% and 9,10%, respectively. 

There has been made a second computation on 25.07.2012 by considering the daily trading volumes and trading volume average weighted compound interest rates of Government Debt Securities on 23-24-25 July 2012 which were specified within the circular following the end ofeffective date trading hour and accordingly, the compound interest rate for the 4. Serial Bank Bill has been computed as 8,90%. Since the new compound interest rate computed in accordance with the second calculation is not higher than the average compound interest rate forming a basis to the issuance (8,93%), the ultimate compound interest rate of 4. Serial Bank 

Bill has been considered as 8,93%. According to the second computation applied as specified, the ultimate compound interest rate of 5. Serial Bank Bill has been computed as 9,12%. Since the new compound interest rate computed in accordance with the second calculation is higher than the average compound interest rate forming a basis to the issuance (9,10%), the ultimate compound interest rate of 5. Serial Bank Bill has been revised as 9,12%. 

As a result;

a) VakıfBank Bank Bill with a 724.565.112 TL nominal value, 175 days maturity, term termination date 18/01/2013;
- ISIN Code : TRQVKFB11317
- Annual Compound Interest Rate : %8,93
- Simple Interest Rate : %8,73
- Issue Price : 95.982

b) VakıfBank Bank Bill Issuance, with a 98.069.987 TL nominal value, 318 days maturity, term termination date 10/06/2013;
- ISIN Code : TRQVKFB61312
- Annual Compound Interest Rate : %9,12
- Simple Interest Rate : %9,07
- Issue Price : 95.982

It is finalized as abovementioned. 

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
Bond Issuance Abroad
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Bond Issuance Abroad
Date : 20.07.2012 

It is applied to Banking Regulation and Supervision Agency in order to have authorization and Capital Market Board in order to be registered to the CMB record by VakıfBank on the purpose of executing the bond issuance in international bond markets subject to provisions of either Eurobond or subordinated debts in US Dollars, Euro, Swiss Francs and/or in other currencies with high liquidity in international bond and money markets valued at maximum 2 Billions USD equivalence and minimum 2 years maturity term cover. 

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Interest Rates Forming a Base to Bank Bills Issuance
To : Investor Community
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Interest Rates Forming a Base to Bank Bills Issuance
Date : 20.07.2012 

Reference: Public disclosure dated July 16th July, 2012

The 4. and 5. serial bank bills, term terminates on 18.01.2013 with a 175 days maturity and 500 Million TL nominal value, term terminates on 10.06.2013 with a 318 days maturity and 200 Million nominal value shall be issued and offered to public within the scope of the issuance of bank bills and/or bonds by VakıfBank up to 3 Billion TL and the demand collection process regarding the aforesaid issuance and public offering of VakıfBank Bank Bills shall be executed on 23-24-25 July 2012. The total public offering might be subject to an increase up to 1.2 Billion TL nominal value providing that there becomes more demand to the public offering regarding aforementioned securities than the current public offering. The “Communique” including the detailed information about computing the interest rates of 4. and 5. Bank Bills is published within the clarification appendix stated in the reference.

Within this framework;
a) Forming a basis to VakıfBank Bank Bill Issuance, with a 500.000.000 TL nominal value, 175 days maturity, term termination date 18/01/2013;
- ISIN Code : TRQVKFB11317
- Annual Compound Interest Rate : %8,93
- Simple Interest Rate : %8,73

b) Forming a basis to VakıfBank Bank Bill Issuance, with a 200.000.000 TL nominal value, 318 days maturity, term termination date 10/06/2013;
- ISIN Code : TRQVKFB61312
- Annual Compound Interest Rate : %9,10
- Simple Interest Rate : %9,05
It is specified as abovementioned.

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
About the Decision of the Board of Directors of VakıfBank to Appoint Mr. Numan BEK as Executive Vice President
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7390
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : About the Decision of the Board of Directors of VakıfBank to Appoint Mr. Numan BEK as Executive Vice President 
Date : 19.07.2012 

Mr. Numan BEK was appointed as Executive Vice President in accordance with the decision of the Board of Directors of VakıfBank dated 04.07.2012 and commenced active duty as from 18.07.2012. 

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Announcement As Per CMB’s Communiqué, Serial No: VIII, No:39
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Announcement As Per CMB’s Communiqué, Serial No: VIII, No:39 
Date : 11.07.2012 

In accordance with the VakıfBank’s public disclosure dated on July 4th, 2012, it was announced that VakıfBank had applied to Capital Market Board and İstanbul Stock Exchange on the dates 23-24-25 July 2012 on the purpose of public offering of the 6. and 7. Serial Bank bills, term starts on 27.07.2012 and terminates on 18.01.2013 with a 175 days maturity and 500 million TL nominal value and term starts on 27.07.2012 and terminates on 10.06.2013 with a 318 days maturity and 200 Million TL nominal value. 

The total public offering might be subject to an increase up to 1.2 Billion TL nominal value providing that there becomes more demand than the total public offering amounting 700 million TL, 6. and 7. Serial bank bills were registered to the board record with the official writing of Capital Market Board, dated 10.07.2012 and numbered 44/BB-569.
We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard. 
Yours sincerely,
VakıfBank
Appointment of Numan BEK as Executive Vice President
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Appointment of Numan BEK as Executive Vice President 
Date : 06.07.2012 

It is decided on the Board of Director’s meeting held on July 4th, 2012; Mr. Numan BEK, who took charge in different departments and associates of VakıfBank between 1993-2010, to appoint as Executive Vice President and shall commence to his duty pursuant to BRSA approval, as a matter of requirement specified in the 25. Article of Banking Law and 6. Article of related Regulation. 

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard. 
Yours sincerely,
VakıfBank
Issuance of the Bank Bills with Maturity of 175 Days and 318 Days
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Issuance of the Bank Bills with Maturity of 175 Days and 318 Days 
Date : 04.07.2012 

It was applied to the Capital Market Board and İstanbul Stock Exchange on the purpose of issuance on the dates 23-24-25 July, 2012 via public offering of 6. And 7. Serial bank bills, term starts on 27.07.2012 and terminates on 18.01.2013 with a 175 days maturity and 500 million TL nominal value and term starts on 27.07.2012 and terminates on 10.06.2013 with a 318 days maturity and 200 million TL nominal value, which shall be done within the scope of bond and/or bank bill issuance up to 3 billion TL which was approved on the Capital Market Board’s meeting held on May 18th, 2012, No: 16/569 and registered to the Capital Market Board’s record in pursuit of being published in the CMB Weekly Bulletin and shall also provide the repayment of the bank bill at a value of 1 Billion. The total public offering might be subject to an increase up to 1.200.000.000 TL nominal value providing that there becomes more demand on public offering aforesaid securities than the total public offering amounting 700 million TL. 

We hereby declare that our statements hereinabove conform with the principles specified in the Board’s Communiqué, Serial VIII and Nr.39, completely reflect the regarding information we have acquired, the information complies with our records, books and documents, we did our best to obtain the correct and complete information related to this subject and we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Departure of Birgül DENLİ, Executive Vice President
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Departure of Birgül DENLİ, Executive Vice President 
Date : 03.07.2012 

According to the Board Meeting which took place on June 28th, 2012 Birgül DENLİ, Executive Vice President responsible for International Banking and Investor Relations, resigned her position at Bank by 2nd of July, 2012. She is appointed as Executive Vice Predsident of Güneş Sigorta A.Ş., subsidiary of VakıfBank following her resignation. 

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Change of Amount Regarding the Bank Bond and Domestic Bond Issuances
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Change of amount regarding the Bank Bond and Domestic Bond Issuances 
Date : 31.05.2012 

The domestic bond issuance of VakıfBank with a nominal value of 200 million TL and a term of 374 days and the issuance of bank bond with a nominal value of 500 million TL and a term of 179 days (by the permission of the Capital Board Market dated 21 May 2012, as per the Board Registry Documents 36/T-569) has been completed through Vakıf Invest A.Ş. at 28-29-30 May of 2012. 

The total demand received for the bank bonds with a nominal value of 500.000.000 TL and a term of 179 days was 926.838.026 TL, while the total demand received for the domestic bonds with a nominal value 200.000.000 TL and a term of 374 days was 105.054.599 TL.

While simple interest rate for the bank bonds of VakıfBank with a term of 179 days was determined as 10,44% (compound interest rate 10,72%), the unit price for the sale of the bank bonds was set as 95,128 TL. The simple ineterest rate of the first, second and third coupon was determined as 0,84%.

In the context of part “3.1/ Amount of Public Offering Circular” of the Public Offering Circular, an amount with a nominal value of 94.945.401 TL for the bonds with a term of 374 days has been added to the bank bonds of VakıfBank with a term of 179 days. Furthermore, over-allotment option with a nominal value of 331.892.625 TL has been used and nominal 926.838.026 TL total issuance amount for the bank bond with a term of 179 days and nominal 105.054.599 TL for the bond issuance were completed and resulted.
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
Results of the Domestic 200 Million TL Bond İssuance
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Results of the 500 million TL bank bond issuance
Date : 31.05.2012 

The domestic bond issuance of VakıfBank with a nominal value of 200 million TL and a term of 374 days (by the permission of the Capital Board Market dated 21 May 2012, as per the Board Registry Documents 36/T-569) has been completed through Vakıf Invest A.Þ. at 28-29-30 May of 2012. 
105.054.599 TL total demand received for the domestic bond with a nominal value of 200.000.000 TL and term of 374 days. In the context of part "3.1 /Amount of Public Offering Circular"; the amount with a nominal value of TL 94.945.401 and a term of 179 days has been added to the amount of bank bonds with a term of 179 days issued and bond issuance amount with a term of 374 days has been completed with a nominal value of 105.054.599 TL.

 
Final Interest Rate and Price 

Maturity of the issued borrowing instrument (Day) 374
First, Second and Third Coupon Rate (%) 0,84
Price (TL) 100,00
Coupon Payment Date
1st Coupon Payment Date 02.07.2012 7st Coupon Payment Date 04.01.2013
2st Coupon Payment Date 02.08.2012 7st Coupon Payment Date 04.02.2013
3st Coupon Payment Date 02.09.2012 9st Coupon Payment Date 07.03.2013
4st Coupon Payment Date 03.10.2012 10st Coupon Payment Date 07.04.2013
5st Coupon Payment Date 03.11.2012 11st Coupon Payment Date 08.05.2013
6st Coupon Payment Date 04.12.2012 12st Coupon Payment Date 10.06.2013

 Demand Results

Demand Domestic Retail Demand Domestic Institutional Demand Total Demand
Number of Customers 440 15 455
Nominal Amount (TL) 22.334.048 82.720.551 105.054.599
TL Equivalent of Amount 22.334.048 82.720.551 105.054.599

Distribution Results
While %79 of total bond issuance was distributed among domestic institutional customers, the remaining %21 was distributed among domestic retail customers.

Distribution Domestic Retail Distribution Domestic Institutional Distribution Total Distribution
Number of Customers 440 15 455
Nominal Amount (TL) 22.334.048 82.720.551 105.054.599
TL Equivalent of Amount 22.334.048 82.720.551 105.054.599

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.


Yours sincerely,
VakıfBank
Results of the 500 Million TL Bank Bond İssuance
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Results of the 500 million TL bank bond issuance
Date : 31.05.2012 

The bank bond issuance of VakıfBank with a nominal value of 500 million TL and a term of 179 days (by the permission of the Capital Board Market dated 21 May 2012, as per the Board Registry Documents 36/T-569) has been completed through Vakıf Invest A.Þ. at 28-29-30 May of 2012. The issuance received 926.838.026 TL demand from retail and institutional clients. In the context of part “3.1 /Amount of Public Offering Circular”; a nominal value of TL 94.945.401 and a term of 179 days which was registered for the domestic bonds having 374 days term has been added to the amount of bonds issued. As a result, an over-allotment option with a nominal value of TL 331.892.625 has been used meeting the entire demand from investors. The results of the issuance are shown at the following tables. 

 Final Interest Rate and Price

Maturity of the issued borrowing instrument (Day) 179
Simple Interest Rate (%) 10,44
Price (TL) 0,95128

Demand Results

Demand Domestic Retail Demand Domestic Institutional 
Demand		 Total Demand
Number of Customers 5.205 55 5.260
Nominal Amount (TL) 380.565.801 546.272.225 926.838.026
TL Equivalent of Amount 362.024.636,15 519.657.842,19 881.682.478,34

Distribution Results
While %59 of total bank bond issuance was distributed among domestic institutional customers, the remaining %41 was distributed among domestic retail customers.

Distribution Domestic Retail Distribution Domestic Institutional Distribution Total Distribution
Number of Customers 5.205 55 5.260
Nominal Amount (TL) 380.565.801 546.272.225 926.838.026
TL Equivalent of Amount 362.024.636,15 519.657.842,19 881.682.478,34
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard

Yours sincerely,
VakıfBank
VakıfBank April 2012 Dual Tranche Dual Currency Club Loan
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : VakıfBank April 2012 Dual Tranche Dual Currency Club Loan
Date : 11.04.2012 

Under the coordination by Wells Fargo NA, and ING Bank N.V London Branch as a facility agent, VakıfBank has signed a new syndication loan agreement that amounts USD 152 million and € 586,7 million in a ceremony participated by 41 banks from 19 countries with senior management. The total cost of the one-year term loan composed of two tranches in US$ and EURO is LIBOR/ EURIBOR + 1,45%. The purpose of the first syndication loan in 2012 will be foreign trade financing.
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
Sale of VakıfBank’s Share in Roketsan Roket Sanayii ve Ticaret A.Ş
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)VakıfBank.com.tr 
Subject : Sale of VakıfBank’s share in Roketsan Roket Sanayii ve Ticaret A.Ş
Date : 10.04.2012 

As per December 13, 2011 dated resolution of the VakıfBank Board of Directors, it was decided to sell VakıfBank’s 10% share in Roketsan Roket Sanayii ve Ticaret A.Þ which has a nominal value of TL 14.600.000, and a full authority had been granted to Head Office to execute necessary procedures including assignment of a consultant within this context. VakıfBank’s Board of Directors, at its meeting held on April 06, 2012 decided to assign Ernst Young Kurumsal Finansman Danýþmanlýk A.Þ. as a consultant.
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
New Deputy Chairman of the VakıfBank Board of Directors and Members of Audit Committee
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr 
Subject : New Deputy Chairman of the VakıfBank Board of Directors and Members of Audit Committee 
Date : 09.04.2012 

It is decided on the Board of Directors’ meeting held on April 6th, 2012, Mr. Halim Kanatcý to become the Deputy Chairman of the VakıfBank Board of Directors and the Member of Audit Committee, Mr Ali Fuat Taþkesenlioðlu to become the Member of Audit Committee.
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Annual General Assembly
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : VakıfBank Annual General Assembly 
Date : 02.04.2012 

VakıfBank’s 58th Annual General Assembly took place in Ýstanbul on March 30th, 2012. 

1. Independently audited 2011 balance sheet and profit/loss accounts were examined and approved. 
2. Members of the Board of Directors and auditors were discharged seperately regarding 2011 operations. 
3. In accordance with Article 9 of the Bank’s Charter Act and with Article 84 of the Bank’s Articles of Incorporation; distribution of TL 37.000.000,00 to shareholders which is 3,4223% of the distributable profits TL 1.081.135.662,16 after deducting TL 25.523.621,97 deferred tax asset net revenues from TL 1.226.785.468,81 total net profits of 2011 as presented in the profit distribution table as of 31.05.2012, distribution of TL 97.000.000,00 personnel dividend which was provisioned in 2011 and transferring TL 33.496.869,39, which is 75% of the TL 44.662.492,52 in proceeds received from the sale of subsidiaries and real estate properties disposed of during 2011, to be tracked in a special liability-side reserve account pursuant to Article 5/1-e of the Corporate Tax Law No. 5520 were approved. 
4. Election of Mr.Halil Aydoðan as a (Group A) Board Member In order to fill the unexpired term and vacant position of Mr.Hasan Sezer, Chairman and Group A Board Member resigned on February 21, 2011 were approved. 
5. Halil AYDOÐAN and Ahmet CANDAN representing Group(A), Adnan ERTEM representing Group (B), Sadýk TÝLTAK representing Group (C) and independent members Ýsmail Alptekin, Ramazan GÜNDÜZ and Ali Fuat TAÞKESENLÝOÐLU have been appointed as members of the Board of Directors of the Bank in accordance with the 48th article of the Articles of Association of T. Vakýflar Bankasý T.A.O. for a period of three year.
6. In accordance with the title 43 of Bank’s Articles of Association; Mehmet HALTAÞ and Yunus ARINCI were elected as Supervisory Board Members representing Class A and C respectively while Ýbrahim POLAT and Kazým ÞÝMÞEK were elected for Reserve Supervisory Board memberships, representing Class A and C respectively.
7. The compensation of the Chairman and Members of the Board of Directors are determined as TL 8.000,00 net per month and statutory auditors' compensation as TRY 5.750,00 net per month for year 2011 and it was determined to continue distributing bonus payments four times in a year in an amount of their monthly net salary. 
8. The renewal of agreement with KPMG for the independent audit of 2012 financials was approved. 
9. The General Assembly was informed regarding the contributions and donations (scholarships, educational aids, contributions to social foundations) of TL 1.682.887,14 based on the decision and authorization of the Board of Directors.
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
Profit Distribution Table of 2011
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@Vakifbank.com.tr
Subject : Profit Distribution Table of 2011 
Date : 02.04.2012 

Profit distribution for 2011 is presented below in the summary table.

TL Total Gross Cash Dividend 37.000.000,00
Cash divided to 1 TL nominal value of equity
TL Gross 0,014800
TL Net 0,012580
Date of Cash Dividend Distribution 31.05.2012

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
Dividend Distribution Schedule
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@Vakifbank.com.tr
Subject : Dividend distribution schedule 
Date : 15.03.2012 

At its meeting dated 14 March 2012, the Bank’s Board of Directors reached the following resolution:

To submit the following actions for the approval of the General Assembly of Shareholders: 

To distribute TL 37.000.000,00 to shareholders which is 3,4223% of the distributable profits TL 1.081.135.662,16 after deducting TL 25.523.621,97 deferred tax asset net revenues from TL 1.226.785.468,81 total net profits of 2011, in accordance with Article 9 of the Bank’s Charter Act and with Article 84 of the Bank’s Articles of Incorporation, as presented in the profit distribution table below, 

To start the payments of the dividend as of 31.05.2012, 

To transfer TL 33.496.869,39, which is 75% of the TL 44.662.492,52 in proceeds received from the sale of subsidiaries and real estate properties disposed of during 2011, to be tracked in a special liability-side reserve account pursuant to Article 5/1-e of the Corporate Tax Law No. 5520.

2011 Profit Distribution Table TL
Balance Sheet Profit 1.226.785.468,81
Deferred Tax Assets (-) 25.523.621,97
Distributable Net Profit 1.201.261.846,84
I- Legal Reserves set aside as per the Bank’s Charter Act and Articles of Incorporation 120.126.184,68
II- Profit Distributable to Shareholders 1.081.135.662,16
III- Special Reserves 33.496.869,39
IV- Extraordinary Reserves (The Bank’s Charter Act 9/E) 1.010.638.792,77
V- Dividend to be Paid to Shareholders 37.000.000,00

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
VakıfBank Annual General Assembly
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@Vakifbank.com.tr
Subject : VakıfBank Annual General Assembly 
Date : 29.02.2012 

VakıfBank's 58th Annual General Assembly for 2011 will take place on March 30th, 2012 at 14:30 p.m in the conference hall at the additional service building of the Headquarters which is located on Sanayi Mahallesi Eski Büyükdere Caddesi Güler Sokak No: 51 Kaðýthane/ÝSTANBUL. A copy of the agenda is written below. 

The Agenda of Ordinary General Assembly on March 30, 2011: 

1. Opening and the formation of presidency council, 
2. Authorization of the President and vote collectors for the signing of General Assembly Minutes, 
3. Readings and consultation of reports by Board of Directors, Auditors and Court of Accounts on 2011 financials, 
4. Reading, consultation and approval of independent auditor financial reports for year 2011 in regards, 
5. Discharge of the Members of the Board of Directors regarding the 2011 financials, 
6. Discharge of the Members of the Auditors regarding the 2011 financials, 
7. The acceptance or decline of the dividend distribution proposal by the Board of Directors, 
8. Approval of assignments to the Board of Directors for places which became vacant during the year, 
9. The renewal of elections for the Board of Directors, 
10. The renewal of elections for the Auditors, 
11. Determination on the compensation of the Chairman, the Board of Directors and the Auditors, 
12. Approval of the external audit firm election by General Assembly 
13. Presentation of donations made during the year to the shareholders
 
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
VakıfBank YE 2011 Financials
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : VakıfBank YE 2011 Financials 
Date : 14.02.2012 

VakıfBank achieved a net profit of TL 1,227 million which is year on year up by 6% while net profits of the banking sector is down by 10%. Total asset size hit TL 89,2 billion with an increase of 20,6%. The cash loans of the bank reached to TL 57,2 billion growing by 27,6%. 

VakıfBank continued supporting the economy through TL 72,9 billion financing which is the total of cash and non-cash loans. Maintaining a net profit of TL 1,227 million in 2011, the bank's total assets reached to TL 89,2 growing by 20,6%. While the cash loans were up by 27,6% and amounted TL 57,2 billion, total deposits reached to TL 61 billion growing by 27,8% which is well above the sector avarage. 

VakıfBank's CEO Suleyman KALKAN stated: 
"While the net profits of the banking sector dropped by 10% in , we have outperformed the sector by increasing our net profits 6% to TL 1,227 million in 2011 as the unsolved debt crises of Europe continued, macroeconomic concerns about developing countries increased, market fluctuations were seen and tightening measures were applied. 

We have doubled the size of the total loans issued to SMEs with the help of the KOBIDOST Project which was initiated in 2011. The high growth in SME lending proves our trust to SMEs which are the engines of the Turkish economy. 

Total retail loans reached to TL 21,1 billion which is up by 41,5% above the sector average. We continued our solid performance especially in general purpose consumer loans and residential mortgage loans where we grew by 37,4% and 47,6% respectively in line with our strategic plan and we increased our market share in retail loans. 

Delivering a great performance in terms of asset quality which is one of priorities; we have dropped our NPL ratio from 4,8% in 2010 to 3,6% in 2011 without any asset sale or write-off. We aim to increase our assets by 15%, loans by 17% and deposits by 12% in 2012. 

In 2011, we have implemented a very crucial decision for our bank in its history. We moved our headquarters to Ýstanbul where will be the International Finance Centre in the future. We will extend our exposure in Ýstanbul by moving our IT departments too in the first half of 2012. Moving to Ýstanbul in order to provide best banking services to our clients and to become a more competitive bank is very important for us. We continued to expand our branch network in 2011, reaching to 680 branches and over 12,000 employees. We aim to employ over 1,000 new employees focusing on organic growth in Ýstanbul and Marmara region. 

VakıfBank Gunes Sigorta Turk Telekom has been the champion of CEV Champions League Women 2011, on behalf of Turkey for the first time. We greatly appreciate VakıfBank Gunes Sigorta Turk Telekom's leading achievement in the Turkish volleyball history. Continuing its success, the team advanced to the quarter-final this year. We are the best candidate for the championship this year. We believe that our team will fill us with pride again by having the championship." 

Selected Unconsolidated Financial Indicators of VakıfBank (December 31, 2011)

Net Income before taxes TL 1.575,2 million
Net Income TL 1.226,8 million
Total Deposits TL 60.939,2 million
Total Assets TL 89.184,5 million
Cash Loans TL 57.200,6 million
Non-cash Loans TL 15.664,0 million
Shareholders' Equity TL 9.298,4 million

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank

Authorization for Bond Issuance
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : Authorization for Bond Issuance 
Date : 14.02.2012 

On its meeting held on February 9th, 2012; The Board of Directors of VakıfBank decided to authorize the Head Office to issue bills with a nominal value of TL 3 billion with different kinds and maturities via one or more domestic public offering in Turkey and to apply to Banking Regulatory and Supervision Agency, Capital Markets Board and to other legal authorities within the framework of the related issuance.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank 
VakıfBank Conference Call -YE 2011 Earnings Results- on 14.02.2012
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : VakıfBank Conference Call -YE 2011 Earnings Results- on 14.02.2012 
Date : 10.02.2012 

You are kindly invited to participate in a conference call on Tuesday, February 14 at 18:00 PM Turkish time (16 PM UK time, 11 AM ET) following the announcement of YE 2011 financial results. The event will be hosted by Ms. Birgul DENLI, Executive Vice President responsible for International Banking and Investor Relations and Q&A session will follow the presentation.

To attend the meeting, 

You should dial one of the following numbers; 

1 866 907 59 28 USA (Toll Free) 
+90 2162171202 TURKEY (Toll) 
+44 – 2033679457 UK (Toll) 
0808232381773 UK (Toll Free)

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
Redemption of Domestic Bonds
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : Redemption of Domestic Bonds
Date : 31.01.2012 

Bonds publicly offered by Türkiye Vakıflar Bankasý T.A.O on 3-4-5 August 2011 with a nominal value of TL 500,000,000, term of 176 days and ISIN Code of TRQVKFB11218, and by the permission of the Capital Markets Board dated 19 July 2011, nr. B.02.6.SPK.0.13.00-105.03.01-1422-7226, as per the Board Registry Document 20/BB-675, matured as of today (31.01.2012)and they are redeemed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Termination of the process for the block sale of shares in Taksim Otelcilik A.Ş
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : Termination of the process for the block sale of shares in Taksim Otelcilik A.Þ
Date : 31.01.2012 

As per June 17, 2010 dated resolution of the Board of Directors, it was decided to sell 51% share in Taksim Otelcilik A.Þ., a subsidiary of VakıfBank, to domestic or foreign investors through block sale and full authority had been granted to Head Office to execute necessary procedures including assignment of a consultant within this context.
After having considered that the sale process of Taksim Otelcilik A.Þ to be retried in the upcoming periods through block sale or revaluation method; VakıfBank’s Board of Directors, at its meeting held on January 26, 2011 decided to terminate the process for the block sale of its shares in Taksim Otelcilik A.Þ and the discharge of the Taksim Otelcilik Block Sale Commission. 

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Redemption of Domestic Bonds
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : Redemption of Domestic Bonds
Date : 31.01.2012 

Bonds publicly offered by Türkiye Vakıflar Bankasý T.A.O on 3-4-5 August 2011 with a nominal value of TL 500,000,000, term of 176 days and ISIN Code of TRQVKFB11218, and by the permission of the Capital Markets Board dated 19 July 2011, nr. B.02.6.SPK.0.13.00-105.03.01-1422-7226, as per the Board Registry Document 20/BB-675, matured as of today (31.01.2012)and they are redeemed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Results of the Domestic 1 Billion TL Bond İssuance
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : Results of the domestic 1 billion TL bond issuance
Date : 30.01.2012 

The domestic bond issuance of VakıfBank with a nominal value of 1 billion TL and a term of 178 days (by the permission of the Capital Board Market dated 12 January 2012, as per the Board Registry Documents 2/BB-675) has been completed through Vakıf Invest A.Þ. at 25-26-27 January of 2012. The issuance received 192% demand from retail and institutional clients. The results of the issuance are shown at the following tables.

 Final Interest Rate and Price

Maturity of the issued borrowing instrument (Day) 178
Compound Interest Rate (%) 10,87
Ordinary Interest Rate (%) 10,58
Price (TL) 0,95094

Demand Results

Demand Domestic Retail Demand Domestic Institutional Demand Total Demand
Number of Customers 9.310 82 9.392
Nominal Amount (TL) 856.428.829 1.062.260.836 1.918.689.665
TL Equivalent of Amount 814.417.110,87 1.010.146.360 1.824.563.470,87

Distribution Results

While %56 of total bond issuance was distributed among domestic institutional customers, the remaining %44 was distributed among domestic retail customers.
Distribution Domestic Retail Distribution Domestic Institutional Distribution Total Distribution
Number of Customers 9.289 82 9.371
Nominal Amount (TL) 440.000.000 560.000.000 1.000.000.000
TL Equivalent of Amount 418.413.601,55 532.526.400,03 950.940.001,58

 We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
New Chairman of the VakıfBank Board of Directors
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : New Chairman of the VakıfBank Board of Directors
Date : 05.01.2012 

It is decided on the Board of Directors’ meeting held on January 5th, 2012; Mr. Halil AYDOGAN to become the Chairman of the VakıfBank Board of Directors

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Election of Mr.Halil Aydoðan as a (Group A) Board Member
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)Vakifbank.com.tr
Subject : Election of Mr.Halil Aydoðan as a (Group A) Board Member
Date : 04.01.2012 

In order to fill the unexpired term and vacant position of Mr.Hasan Sezer, Chairman and Group A Board Member resigned on February 21, 2011; VakıfBank’s Board of Directors, at its meeting on January 4, 2012 decided to present the election of Mr.Halil Aydoðan as a (Group A) Board Member to the approval of shareholders on the forthcoming General Assembly meeting.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
2011
Appointment of a New Assistant General Manager
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7401
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Appointment of a new Assistant General Manager
Date : 06.12.2011 

Yıldırım EROGLU, General Manager of VakıfBank New York branch, has appointed as Assistant General Manager at VakıfBank and effective December 06, 2011.

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
S&P Credit Rating Confirmation
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : S&P Credit Rating Confirmation
Date : 02.12.2011 

Standard&Poors confirmed its issuer credit ratings on VakıfBank as “BB/B” with positive outlook by applying its rating criteria changes for banks.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Fitch Credit Rating Update
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Fitch Credit Rating Update
Date : 01.12.2011 

Fitch Ratings changed the outlook on VakıfBank’s “BB+” Long Term Local and Foreign Currency Issuer Default Ratings to “Stable” from “Positive”. Fitch Ratings stated that there is no change on VakıfBank’s other ratings and outlooks.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Investigation of Turkish Competition Authority
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Investigation of Turkish Competition Authority
Date : 22.11.2011 

It has been reported by Turkish Competition Authority that it launched an investigation about 12 banks including VakıfBank and 2 companies which deal with financial services, accused of making agreements that limit the competition between them. The aim of the investigation is to determine if the banks have made agreements that limits competition and have been involved any activity against Law No. 4054 concerning the protection of competition.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Conference Call Details-3Q11 Earnings Results
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7401
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Conference Call -3Q 2011 Earnings Results- on 02.11.2011
Date : 25.10.2011 

You are kindly invited to participate in a conference call on Wednesday, November 2 at 18:00 PM Turkish time (16 PM UK time, 11 AM ET) following the announcement of 3Q 2011 financial results. The event will be hosted by Ms. Birgul DENLI, Executive Vice President responsible for International Banking and Investor Relations and a Q&A session will follow the presentation.

To attend the meeting,

Either you may dial in +44 20 7031 0088 (UK) or +1 866 779 1130 (USA)
or
follow the link below
https://eventreg1.conferencing.com/webportal3/reg.html?Acc=150869&Conf=180513

If you choose to register for the meeting through the link, you will be sent a specific telephone number, Conference PIN and Participant User PIN so that you will connect to the call directly without going through operator on the meeting day.

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Departure of Remzi Altınok, EVP
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Departure of Remzi Altınok, EVP 
Date : 29.09.2011 

Remzi Altınok, EVP responsible for Commercial Loans, is appointed as the COE of Taksim Otelcilik, subsidiary of VakıfBank and resigned his position at Bank by 28th of September, 2011.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Investigation of Turkish Competition Authority
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Investigation of Turkish Competition Authority 
Date : 26.09.2011 

Reference: VakıfBank’s public disclosure on 09.03.2011 

As a result of the investigation conducted on 8 banks including VakıfBank, pursuant to the Law on Protection of Competition No 4054, The Competition Board has announced that VakıfBank has been charged a penalty of TL 8.226.296 with the clause that VakıfBank has the right to appeal to Supreme Court. On 22 September 2011, VakıfBank has benefited from cash payment discount and paid TL 6.169.722 to Major Taxpayer Tax Office for TL 8.226.296 administrative penalty charged with 7 March 2011 dated and 11-13/243-78 numbered decision of Competition Board due to breach of the Law on Protection of Competition No.4054 provided that rights to appeal are preserved.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank 2011 September Dual Tranche Dual Currency Club Loan
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 2011 September Dual Tranche Dual Currency Club Loan 
Date : 07.09.2011 

Under the coordination by West LB AG, and ING Bank N.V London Branch as a facility agent, VakıfBank has signed a new syndication loan agreement that amounts USD 145 million and € 433 million in a ceremony participated by 26 banks from 13 countries with senior management. The total cost of the one-year term loan composed of two tranches in US$ and EURO is LIBOR/ EURIBOR + 1% which has been the lowest since 2008. The purpose of the second syndication loan in 2011 will be foreign trade financing as is the first deal.

VakıfBank’s CEO Mr.Süleyman KALKAN stated: “We are pleased to successfully complete the second syndication deal process in 2011. The deal with a total amount of USD 756 million confirms the solid balance sheet, credibility, strong and long lasting relations among VakıfBank and international finance companies once again. Turkish economy is continuing to stand out with its dynamic structure. The rapid economic growth of Turkey and strong structure of the sector pave the way for VakıfBank and we continue to support exporters in Turkey. We see the results of our growth focused strategy with the banks having strong relations, as the syndication loan which will be used for export financing. I would like to thank all the participant banks for their cooperation.’’

VakıfBank’s EVP Ms. Birgul DENLİ, responsible from International Banking and Investor Relations, stated: “We have had the lowest cost since 2008 with LIBOR/ EURIBOR + 1% while we achieved to increase VakıfBank’s total syndicated loan to USD 1,8 billion with the second syndication loan of 2011 which is amounting USD 756 million equivalent. Funding of international banks to VakıfBank in a continuing uncertain global environment is the indicator of their confidence to VakıfBank and Turkish economy.’’

Harvey Hoogakker, the Managing Director of the coordinator bank, WestLB AG stated the importance of VakıfBank’s success to accomplish the deal process considering the difficult conditions of global finance markets nowadays. He also stated that this deal shows VakıfBank’s prestige at international financial institutions and high confidence of its correspondent banks to VakıfBank.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Authorization for Eurobond Issuance
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Authorization for Eurobond Issuance 
Date : 19.07.2011 

It was announced on 20th of June that registration process of USD 1 billion or equivalent of eurobond had been accomplished by CMB before. In this context, authority has been granted to a group of banks that consist of Barclays Bank PLC, Goldman Sachs International, J.P. Morgan Securities Ltd and Standard Chartered Bank in order to arrange investor meetings.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Additional Reserve Requirements Deposited at CBT
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Additional reserve requirements deposited at CBT 
Date : 08.07.2011 

Reference: VakıfBank’s public disclosure on 25.05.2011 with the number of 911. 

Regarding the disagreement with CBRT over reserve requirement for loans obtained by foreign branches, VakıfBank filed a claim in Ankara 14th Administrative Court for the suspension of execution and cancellation of the decision.

Further information about the progress of the mentioned judiciary process will be disclosed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Eurobond Issuance
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Eurobond Issuance 
Date : 20.06.2011 

Reference: VakıfBank’s public disclosure on 09.03.2011. 

With the related disclosure it was announced that VakıfBank Board of Directors had authorized the Head Office to issue eurobond with a minumun nominal value of USD 500 Million and maximum nominal value of USD 1 Billion, minimum 5 years of maturity, fixed or floating interest rate and to put all the necessary procedures into effect. The offering circular related to the public offering of VakıfBank’s 1 Billion USD or equivalent of bills is certified by the Capital Market Board.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Interim Buying Land at Istanbul Finance Center in Atasehir
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Interim Buying land at Istanbul Finance Center in Atasehir 
Date : 07.06.2011 

Reference: VakıfBank’s public disclosure on 25.05.2011 

The process related with the buying of a land located in Istanbul Finance Center in Atasehir in order to build the Headquarter of VakıfBank is completed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Additional Reserve Requirements Deposited at CBRT
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Additional reserve requirements deposited at CBRT 
Date : 25.05.2011 

VakıfBank and CBRT had disagreement regarding the reserve requirements deposited at CBRT for syndication loans obtained by foreign branches of the Bank. Subsequent to the decision, CBRT required the Bank to provide reserve requirements for loans obtained by foreign branches, the Bank filed a claim in Ankara 15th Administrative Court for the suspension of execution and cancellation of the decision. While the judiciary process is going on, CBRT requested the Bank to provide additional reserves amounting to USD 384 million in average for 3,5 years period with 4 May 2011 dated communique. In this context, the Bank has began to provide additional reserve requirements at 27 May 2011 and average amount will be around USD 160 million for this year, which will have very limited effect on Bank’s financials, profitability and operations.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.54, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Interim Agreement with Vakıf REIT about Headquarter Building Construction at Istanbul
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Interim agreement with Vakıf REIT about Headquarter building construction at Istanbul 
Date : 12.05.2011 

With the amendments made in VakıfBank’s principal agreement, Headquarter of VakıfBank moved from Ankara to Istanbul and currently VakıfBank Headquarter is operating in 2 different buildings located in Levent region. It has been evaluated that it will be better in case all Headquarter departments move to a newly constructed building located in Istanbul Finance Center area in Atasehir.

In this context, an interim agreement was signed on 12th May of 2011, with Vakıf REİT, one of VakıfBank’s subsidiaries, for the purpose of buying a land, which of its construction plan made by the Housing Development Administration (TOKI), making an architectural project of building suitable for the needs of VakıfBank Headquarter within the maximum time constrain of 5 years period. The rent duration of building will be determined by sides according to the current value of it.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Appointment of 2 New Assistant General Managers
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Appointment of 2 new Assistant General Managers 
Date : 12.04.2011 

On April 6, 2011 Mr. Osman DEMREN was appointed as the Assistant General Manager responsible for the Commercial Banking and the Cash Management, and on April 11, 2011 Mr. Mitat ŞAHİN was appointed as the Assistant General Manager responsible for the Human Resources and the Planning&Performance departments of VakıfBank.
You may find the brief resumes of new Assistant General Managers below.

Mr. Osman DEMREN 
Assistant General Manager, Commercial Banking-Cash Management Mr. Demren, 41, graduated from 9 Eylül University, Faculty of Economics and Administrative Sciences. Previously having worked for Ministry of Finance as an account auditor, he joined VakıfBank as an internal auditor in 1996. He served as a Branch Manager for various branches and he was the Regional Manager of Istanbul 1. Region before his appointment as the Assistant General Manager on April, 2011. 

Mr. Mitat ŞAHİN
Assistant General Manager, Human Resources-Planning&Performance Mr. Şahin, 46, graduated from Ankara University, Faculty of Political Sciences, major in Economics and has a post-graduate degree from Selçuk University, Human Resources. Prior to his appointment as the Assistant General Manager, he had worked for several Head Office divisions at various positions and additionally he was a Board Member of Halkbank. 

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Appointment of 2 New Assistant General Managers
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 2011 March Dual Tranche Dual Currency Club Loan
Date : 25.03.2011

VakıfBank has signed its largest ever syndication deal.

Under the coordination by West LB AG, and ING Bank N.V London Branch as a facility agent, VakıfBank has signed a syndication loan agreement that amounts USD 192.5 million and € 573.5 million in a ceremony participated by 34 banks from 16 countries with senior management. The total cost of the one-year term loan composed of two tranches in US$ and EURO is LIBOR/ EURIBOR + 1.10%.

VakıfBank's CEO Mr.Süleyman KALKAN stated : "We are pleased to be signing our first syndication facility in 2011. This deal confirms the strong position and the prestige of VakıfBank and Turkey. In the light of recent global developments; Turkey's stand in the region became more prominent thanks to the stability it preserved. We keep revitalizing and supporting the real sector by increasing amount of the total foreign borrowings. I would like to thank the creditors all for their valuable support in providing the facility which will be used for export financing."

VakıfBank's EVP Ms. Birgul DENLİ, responsible from International Banking and Investor Relations, stated: "We achieved more than a 100% roll-over of the syndicated loan of 2010 March with a total amount of USD 1 billion equivalent. While structuring the new loan with one-year term and dual tranche; we managed to decrease the all in cost from 1.5% in 2010 to 1.1% in 2011. Especially in an environment where the problems in the Middle East and North Africa continue and uncertainty increasing; our new facility demonstrates the prudent position of VakıfBank through the international financial community and the successful collaboration with the international relationship banks. I would like to thank all the participant banks for their confidence and continuous support to both VakıfBank and Turkey. "

David Pepper, the Managing Director of the coordinator bank, WestLB AG stated: "By working closely with VakıfBank we have been able to ensure that the facility will sign at USD1 billion thereby representing VakıfBank's largest ever syndicated loan facility. The success of this transaction highlights the high regard in which VakıfBank is held by its core relationship banks as well as the strong commitment of the international banking community towards Turkey which is perceived, and rightly so, as a country that has not only weathered the global economic storm of the past three years extremely well but one with significant growth potential going forward." Fifteen banks that have participated in the loan as the mandated lead arrangers are Standard Chartered Bank, J.P. Morgan Chase Bank N.A. , Bank of America Merrill Lynch, The Bank of Nova Scotia, Barclays Capital, Citibank, N.A., Commerzbank Aktiengesellschaft, Goldman Sachs International, ING Bank N.V. London Branch, Intesa Sanpaolo S.p.A. London Branch, The Royal Bank of Scotland N.V., Sumitomo Mitsui Banking Corporation Europe Limited, UniCredit Bank AG, Wells Fargo Bank N.A., WestLB AG.

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Syndication Mandate Letter
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Syndication Mandate Letter
Date : 25.03.2011
On March 25, VakıfBank has signed a mandate letter in order to grant a new; USD 1 billion equivalent, one-year term syndicated facility which will be coordinated by WestLB AG.

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank GSTT is the Champion of CEV Champions League
To : Investor Community
From : VakıfBank – Investor Relations 
Tel : (90-212) 316 7120
Fax : (90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank GSTT is the champion of CEV Champions League
Date : 21.03.2011

On March 20, VakıfBank GSTT has been the champion of CEV Champions League Women 2011, following the success against Rabita Baku of Azerbaijan and beat a record, by having the CEV championship on behalf of Turkey for the first time. We greatly appreciate VakıfBank GSTT's leading achievement in the Turkish volleyball history.
We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Mandate for DPR securitization
To : Investor Community
From : VakıfBank – Investor Relations 
Tel : (90-212) 316 7120 
Fax : (90-212) 316 7126 
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Mandate for DPR securitization
Date : 18.03.2011

VakıfBank mandated arrangers to obtain a new foreign borrowing through Diversified Payment Rights securitization transaction with a maturity up to 12 years.

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
Yours sincerely,
VakıfBank
VakıfBank Annual General Assembly
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail : investor.relations(at)vakifbank.com.tr 
Subject : VakıfBank Annual General Assembly 
Date : 11.03.2011

VakıfBank's Annual General Assembly for 2010 will take place on March 25th, 2011 
at 14:30 p.m in the conference hall at Headquarters which is located on Ataturk Avenue, No:207 Kavaklidere/ ANKARA. A copy of the agenda is written below.
The Agenda of Ordinary General Assembly on March 25, 2011:
1. Opening and the formation of presidency council,
2. Authorization of the President and vote collectors for the signing of General 
Assembly Minutes, 
3. Readings and consultation of reports by Board of Directors, Auditors, Superior 
Supervisory Board on 2010 financials, 
4. Reading, consultation and approval of independent auditor financial reports for year 
2010 in regards, 
5. Discharge of the Members of the Board of Directors regarding the 2010 financials, 
6. Discharge of the Members of the Auditors regarding the 2010 financials, 
7. Presentation of the amendments to Articles 5, 7, 8, 11, 20, 21, 25, 26, 38, 47, 62; paragraph (c) of Article 37, paragraph (h) of Article 56, provisional Article 1 of the primary contract and the presentation of provisional Article 5 to be included in the primary contract, 
8. The acceptance or decline of the dividend distribution proposal by the Board of 
Directors, 
9. Approval of assignments to the Board of Directors for places which became vacant during the year, 
10. Determination on the compensation of the Chairman, the Board of Directors and 
the Auditors, 
11. Presentation of authorization of Adnan Ertem, member of the Board of Directors, 
as per Articles 334 and 335 of the Turkish Commercial Code, 
12. Approval of the external audit firm election by General Assembly, 
13. Presentation of donations made during the year to the shareholders, 
14. Requests and closing remarks.
We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard. 

Yours sincerely,
VakıfBank
VakıfBank Conference Call Details YE 2010
To : Investor Community
From : VakıfBank – Investor Relations
Tel : (90-212) 316 7120
Fax : (90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject: VakıfBank Conference Call -YE 2010 Earnings Results- on 17.02.2011
Date : 10.02.2011

You are kindly invited to participate in a conference call on Thursday, February 17 at 18:00 PM Turkish time (16 PM UK time, 11 AM ET) following the announcement of YE 2010 financial results. The event will be hosted by Ms. Birgul DENLI, Executive Vice President responsible for International Banking and Investor Relations and a Q&A session will follow the presentation.

To attend the meeting,
Either you may dial in +44 20 7162 0025 (UK) or +1 877 491 0064 (USA)

or

follow the link below

https://eventreg1.conferencing.com/webportal3/reg.html?Acc=197567&Conf=177098
If you choose to register for the meeting through the link, you will be sent a specific telephone number, Conference PIN and Participant User PIN so that you will connect to the call directly without going through operator on the meeting day.

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
2010
Change to the Board of Directors
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject: Change to the Board of Directors
Date : 28.10.2010

Mr. Sabahattin Birdal, Board Member of VakıfBank, resigned from his duty on October 26, 2010. At its meeting on October 27, 2010 VakıfBank’s Board of Directors approved the departure of Mr. Sabahattin Birdal and decided to present the election of Dr. Adnan Ertem as the new Board Member to the approval of shareholders on the forthcoming General Assembly meeting.

Dr. Adnan Ertem, 45, graduated from Istanbul University, Department of Public Administration and has a master’s degree from Istanbul University. In addition, Mr. Ertem has a PhD in Social Structure and Social Change. He was appointed as a member of Board of Directors on October 27, 2010. Having started his career as an assistant auditor in the General Directorate of Foundations, he worked in various positions. In 2007, he was appointed as Prime Ministry Deputy Undersecretary. Mr. Ertem currently holds the position of Director-General of the General Directorate of Foundations.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Conference Call -3Q 2010 Earnings Results- on 10.11.2010
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject: VakıfBank Conference Call -3Q 2010 Earnings Results- on 10.11.2010.
Date : 27.10.2010

You are kindly invited to participate in a conference call on Wednesday, November 10 at 18:00 PM Turkish time (16 PM UK time, 11 AM ET) following the announcement of 3Q 2010 financial results. The event will be hosted by Ms. Birgul DENLI, Executive Vice President responsible for International Banking and Investor Relations and a Q&A session will follow the presentation.
To attend the meeting,

Either you may dial in +44 20 7162 0025 (UK) or +1 877 491 0064 (USA)

or 

follow the link below

https://eventreg1.conferencing.com/webportal3/reg.html?Acc=197567&Conf=175273

If you choose to register for the meeting through the link, you will be sent a specific telephone number, Conference PIN and Participant User PIN so that you will connect to the call directly without going through operator on the meeting day.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Extraordinary General Assembly
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject: VakıfBank Extraordinary General Assembly
Date : 22.10.2010

Turkiye Vakıflar Bankasi T.A.O Extraordinary General Assembly approved the following resolutions at its meeting dated 22.10.2010

1. The President and the vote collectors were authorized for the signing of Extraordinary General Assembly Minutes.
2. Authorization of Board of Directors in order to issue 3.000.000 TL or foreign currency bonds or any debt instrument in the next three years and to determine the amount, type, maturity, interest rates and other conditions of the related debt instruments were approved.
3. a) The amendments regarding the Article 70 of the personnel regulation were approved.
     b) The rules regarding the bonus payments of the Board of Directors’ and the members of the Auditing Committee were approved.
4. Incentive premiums paid in the previous years were approved.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Extraordinary General Assembly
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject: VakıfBank Annual General Assembly
Date : 30.09.2010

VakıfBank’s Extraordinary General Assembly will take place on October 22nd, 2010 at 2 p.m in the conference hall at Headquarters which is located on Ataturk Avenue, No:207 Kavaklidere/ ANKARA. A copy of the agenda is written below.

The Agenda of Extraordinary General Assembly on October 22, 2010:
1. Opening and the formation of presidency council.
2. Authorization of the President and vote collectors for the signing of Extraordinary General Assembly Minutes.
3. Consultation and resolution of authorizing Board of Directors in order to issue local or foreign currency bonds or any debt instrument in the next three years and to determine the amount, type, maturity, interest rates and other conditions of the related debt instruments.
4. a) Consultation and resolution of amendments by Extraordinary General Assembly regarding the Article 70 of the personnel regulation.
    b) Consultation and resolution of the rules by Extraordinary General Assembly regarding the bonus payments of Board of Directors and members of the Auditing Committee.
5. Consultation and resolution of incentive premiums paid in the previous years.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Capital Increase of VakıfBank International A.G
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject: Capital increase of VakıfBank International A.G
Date : 02.07.2010

VakıfBank’s Board of Directors, at its meeting on June 30, 2010 decided to begin the process of increasing paid-in capital of VakıfBank International A.G, established in Austria with offices in Vienna, Cologne and Frankfurt, from EUR 20.000.000 to EUR 45.000.000. The total additional paid-in capital of EUR 25.000.000 will be through cash payments.

Aiming to support the growth strategy of VakıfBank International A.G in Europe and in Balkans through the aforementioned capital increase; it has also been resolved at the meeting that the participation of EUR 22.500.000 rights issue corresponding to 90% share of VakıfBank to be used to the full extent.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Annual General Assembly
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Annual General Assembly
Date : 19.03.2010

VakıfBank's 56th Annual General Assembly took place in Ankara on March 19th, 2010.

Operating accounts for 2009 were examined and approved at the meeting held in the headquarters.

It is decided on the General Assembly Meeting held on the date 19.03.2010 to distribute TRY 120.764.143,54 to shareholders which is 9,81% of the distributable profits TRY 1.231.045.844,63 after deducting TRY 20.160.081,73 deferred tax asset net revenues from TRY 1.251.205.926,36 total net profits of 2009.

The proposed dividend payment, which represents 9,65% payout ratio, is gross TRY 0.04830 per 1 TRY share, to shareholders who are full-fledged taxpayers and receive their dividends through an office in Turkey or a regular agent; net 0.04106 TRY per 1 TRY share to shareholders who are full-fledged taxpayer natural persons.

In the VakıfBank's 56th Annual General Assembly; the Board of Directors were composed of Hasan SEZER and Ahmet CANDAN representing Class A; Sabahattin BİRDAL representing Class B, Selahattin TORAMAN representing Class C; independent members are İsmail ALPTEKİN, Ramazan GÜNDÜZ and Serdar TUNÇBİLEK; and Süleyman KALKAN who is appointed as CEO effective March 19th, 2010. Mehmet HALTAŞ and Yunus ARICI are appointed as Statutory Auditors.

The compensation of the Chairman and Members of the Board of Directors are determined as TRY 6.726,87 net per month and statutory auditors' compensation as TRY 4.843,35 net per month for year 2010, which is the same compensation amount of year 2009.

Yours sincerely,
VakıfBank
Departure of CEO Bilal KARAMAN
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Departure of CEO Bilal KARAMAN
Date : 19.03.2010

Following the departure of Mr. Bilal KARAMAN as Chief Executive Officer, Mr. Süleyman KALKAN will serve as the acting CEO effective March 19, 2010.

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Syndication Mandate Letter
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Syndication Mandate Letter
Date : 10.03.2010

On March 9, VakıfBank has signed a mandate letter in order to grant a new syndicated facility which will be coordinated by WestLB AG.

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Annual General Assembly
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Annual General Assembly
Date : 18.02.2010

VakıfBank's Annual General Assembly for 2009 will take place on March 19th, 2010 at 2 p.m in the conference hall at Headquarters which is located on Ataturk Avenue, No:207 Kavaklidere/ ANKARA. A copy of the agenda is written below.

The Agenda of Ordinary General Assembly on March 19, 2010:

1. Opening and the formation of presidency council. 
2. Authorization of the President and vote collectors for the signing of General Assembly Minutes. 
3. Readings and consultation of reports by Board of Directors, Auditors, Superior Supervisory Board on 2009 financials. 
4. Reading, consultation and approval of independent auditor financial reports for year 2009 in regards. 
5. Discharge of the Members of the Board of Directors regarding the 2009 financials.
6. Discharge of the Members of the Auditors regarding the 2009 financials.
7. The acceptance or decline of the dividend distribution proposal by the Board of Directors.
8. Presentation of dividend policy for year 2009 and thereafter to General Assembly.
9. The renewal of elections for the Board of Directors.
10. The renewal of elections for the Auditors.
11. Determination on the compensation of the Chairman, the Board of Directors and the Auditors.
12. Approval of the external audit firm election by General Assembly.
13. Approval to the General Assembly for the authorization of the Board of
Directors to make amendments and readjustment regarding the Personnel Regulation. 
14. Presentation of donations made during the year to the shareholders.

Yours sincerely,
VakıfBank
2009
Rating Upgrade of VakıfBank
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Rating Upgrade of VakıfBank
Date : 14.12.2009

Fitch Ratings upgraded VakıfBank's Long Term Foreign Currency IDR "two notches" to "BB+" from "BB-" and Long Term Local Currency IDR to "BB+ from BB". Long term IDRs were removed from Rating Watch Positive and assigned a Stable Outlook. VakıfBank's Support Rating Floor was also revised to 'BB+' from 'BB-'; being removed from Rating Watch Positive.

Fitch affirmed our Short Term Foreign Currrency IDR and Short Term Local Currency IDR at "B", National Long-term Rating at "AA+(TUR)" , Individual Rating at "C/D" and Support Rating at "3".

We hereby declare that our above statements conform with the principles included in the Board's Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
Establishment of a Bank in Syria
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Establishment of a bank in Syria
Date : 11.12.2009

At its meeting dated November 10, VakıfBank’s Board of Directors, in line with the bank’s international expansion strategy amongst the potential countries screened, gave a preliminary approval for exploring the opportunities in establishing a banking operation in Syria.

Further information about the progress of mentioned process will be disclosed.
We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank 3Q 2009 Financials
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 3Q 2009 Financials
Date : 12.11.2009

VakıfBank's net profits are TRY 345,3 million in 3Q09.

VakıfBank generated a net profit of TRY 940 million in the first nine months of 2009, representing a 65% y-o-y increase.

VakıfBank's total assets reached TRY 61 billion, up 17%, year to date. Total cash loans increased by 8,5% to TRY 33 billion and total deposits rose by 15% to TRY 42,7 billion.

VakıfBank's CEO Bilal Karaman stated:

"Outperforming the sector in loan growth, the bank increased its profitability which led to a net profit of TRY 345,3 million in the third quarter of 2009 and TRY 940 million ytd.

Despite the sector performed 20% down, VakıfBank achieved a 15% quarterly increase in net profits; thanks to profitability which was mainly derived from net interest income up 60% y-o-y.

Cash loan growth in the first nine months reached to 8,5% which is higher than the sector average of 2,3%. This considerable growth was generated by 15% deposit growth which is over the sector average of 7,6%.

Originated from General Purpose Consumer Loans, up by 11%, and Housing Loans, up by 17,6%; 12,4% ytd retail loan growth is expected to continue. By following a strategic approach in the third quarter especially in housing loans, VakıfBank provided the one fourth of housing loans in the sector.

While cash and non-cash loans injected to real economy amounted TRY 42 billion, Capital Adequacy Ratio reached to 15,04%, thanks to the high profitability sustained year to date.

Despite the still-continuing growth in non performing loans; 9,3% NPL ratio which is under the sector average of 13% q-o-q, is mainly attributed to the proactive risk management applications.


Adding 19 new branches in 2009, our total branch number reached 544. Expanding the branch network in accordance wtith the new economic situation, VakıfBank will continue its steady growth and profitability."

Yours sincerely,
VakıfBank
The Sale of Vakıf Venture Capital
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : The sale of Vakıf Venture Capital
Date : 28.08.2009

VakıfBank and RHEA Gayrimenkul Yatırım Proje Geliştirme Šnşaat Sanayi ve Ticaret Ltd. Şti. reached an agreement regarding the transfer of 31,15% VakıfBank shares held in Vakıf Girişim Sermayesi Yatırım Ortaklığı A.Ş. (Vakıf Venture Capital Investment) for TL 2.150.302,50.

The aforementioned agreement is subject to the approvals to be obtained from VakıfBank’s Board of Directors and Capital Markets Board of Turkey (CMT) .

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank 1H 2009 Financials
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 1H 2009 Financials
Date : 14.08.2009

VakıfBank, in the first half of this year, achieved a net profit of TRY 595 million which is year on year up by 26%.
VakıfBank’s CEO Bilal Karaman stated:

Maintaining a 26% year over year growth in net profits, VakıfBank generated total revenues of TRY 1,922 million. Total revenues, y-o-y up by 38%, was mainly driven by 61% growth in net interest income. As of June, the asset size of VakıfBank hit TRY 59 billion with an increase of 22%. The bank’s cash loans grew by 13,5% and reached TRY 32 billion while the volume of total deposits are up by 21% and amounted to TRY 42 billion

We continued our steady growth in the second quarter of 2009. In particular, achieving a 7,4% retail loan growth is seen as a signal of permanent growth. As the major contributors of retail loan growth, we are especially pleased with General Purpose Consumer Loans and Mortgages which are up by 9,8% and 4,5% respectively.

Despite the difficult market conditions, VakıfBank continued its core lending business in the first six months of 2009. Outperforming the sector by 6% with 54% Loans to Asset, securities portfolio remained below the sector average of 29% with 23% of our assets. Hence, increased profitability was derived from sustainable core banking activities and not by any one-offs. Consequently, ROAE was up from 18% to 20% .

While total loans grew by 13,5% y-o-y, Capital Adequacy Ratio was up by 1% to 14,6%. Despite higher lending to the real economy and the individuals, NPL growth has eased off and outperformed the sector average thanks to our effective risk management applications.

We think that the worst of the economic crisis is over and it can only get better from now on. Therefore we are encouraged to resume new branch opennings which we and the sector have previously slowed down.

Yours sincerely,
VakıfBank
The Disposal of Vakıf Venture Capital
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : The disposal of Vakıf Venture Capital
Date : 30.07.2009

VakıfBank’s Board of Directors, at its meeting on July 23, decided on the complete disposal of 31% VakıfBank shares in Vakıf Girişim Sermayesi Yatırım Ortaklığı A.Ş. (Vakıf Venture Capital Investment). It was also announced that the process will be as a block sale of TL 279.000 VakıfBank shares to the local and foreign investors.

Aforementioned sale process is outlined below.

(31.07.2009) Delivery of introductory documents to the prospect buyers
(31.07.2009-20.08.2009) The examination of company books under the seal of secrecy
(21.08.2009) Collection of binding offers 
(25.08.2009) Signing of the sales contract

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Conference Call -1H 2009 Earnings Results- on 14.08.2009
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Conference Call -1H 2009 Earnings Results- on 14.08.2009
Date : 29.07.2009

You are kindly invited to participate in a conference call on Friday, August 14 at 17:30 PM Turkish time (15:30 PM UK time, 10:30 AM ET) following the announcement of 1H 2009 financial results. The event will be hosted by Mr. Tanju YUKSEL, Executive Vice President responsible for International Banking and Investor Relations and a Q&A session will follow the presentation.

To attend the meeting,

Either you may dial in +44 (0)20 7162 0025 (UK) or +1 334 323 6201 (USA)

or

follow the link below
https://eventreg1.conferencing.com/webportal3/reg.html?Acc=856248&Conf=167751

If you choose to register for the meeting through the link, you will be sent a specific telephone number, Conference PIN and Participant User PIN so that you will connect to the call directly without going through operator on the meeting day.

Yours sincerely,
VakıfBank
The Disposal of Vakıf Venture Capital
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : The disposal of Vakıf Venture Capital
Date : 23.07.2009

At its meeting on July 23, VakıfBank’s Board of Directors decided on the complete disposal of 31% (25 % Group A; 6% Group B ) VakıfBank shares in Vakıf Girişim Sermayesi Yatırım Ortaklığı A.Ş. (Vakıf Venture Capital Investment). The process will be as a block sale of TL 279.000 VakıfBank shares to the local and foreign investors.

Further information about the progress of mentioned sale process will be disclosed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank 1Q 2009 Financials
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 1Q 2009 Financials
Date : 15.05.2009

VakıfBank’s net profits are TRY 294,2 million in 1Q 2009.

As of March 31, 2009; VakıfBank’s unconsolidated net profits are TRY 294,2 million while its asset size reached TRY 56,2 billion, up by 8% YtD.

VakıfBank’s CEO Bilal Karaman stated:

“Following solid financial results in the last quarter of 2008, we achieved a 20% ROE with TRY 294,2 million net profits.

While VakıfBank’s asset size reached TRY 56,2 billion up by 8% YtD; cash loans increased to TRY 31,1 billion and total deposits rose to TRY 39,5 billion up by 6,5% YtD, a growth rate outperforming the sector average.
With its deposit heavy funding structure, VakıfBank has consolidated its position in the banking sector.

Boosting our support to the economy, we increased total of cash and non-cash loans to almost TRY 40 billion. Growth in total loans continued in 1Q 2009 even though the pace eased compared to last year. We foresee that positive outlook in the economy will last and lending will pick up in 2H 2009.

As the banking sector, we go through a period in which strong players standing by its customers at difficult times started to increase their market shares in all segments and competition is not shaped by short term pricing but by reliability, reciprocity and service quality
.
Having reached a solid shareholders’ equity of TRY 6 billion, VakıfBank will continue to be on forefront of this competition, fund real sector and create value added for the economy.’’

Yours sincerely,
VakıfBank
New Member of VakıfBank Board of Directors
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : New Member of VakıfBank Board of Directors 
Date : 27.04.2009

Mr.Halim Kanatçı was elected as the ninth member of VakıfBank’s Board of Directors to represent Group A shareholders.

Yours sincerely,
VakıfBank
Change to the Board of Directors
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Change to the Board of Directors 
Date : 08.04.2009

At its meeting on April 7, VakıfBank’s Board of Directors elected Yusuf BEYAZIT as Chairman and Ragıp DOGU as Vice-Chairman. The roles and responsibilities of the Board members were specified during the meeting.
Board committees are composed of the following members:

Audit Committee: Ragip DOGU, Sabahattin BİRDAL
Corporate Governance and Appointments Committee: Ismail Alptekin, Hasan ÖZER
Credit Committee: Ramazan GUNDUZ, Serdar TUNCBILEK

We declare that our above statements are in conformity with the principles included in the Board’s Communiqué, Serial VIII Nr. 54. that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank Annual General Assembly
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Annual General Assembly 
Date : 03.04.2009

VakıfBank’s 55th Annual General Assembly took place in Ankara on April 3rd, 2009. Operating accounts for 2008 were examined and approved at the meeting held in the headquarters.

Operation income of VakıfBank reached to TRY 2.869 from TRY 2.621 million with a 10% increase and VakıfBank recorded a net income of TRY 753 million in 2008.

VakıfBank’s CEO Bilal Karaman stated: “In the context of economic crisis and our prudent provisioning policies, VakıfBank performed unconsolidated net income of TRY 753 million and consolidated net income of TRY 810 million in 2008.

VakıfBank kept its growth path in 2008. Increasing by 23% in 2008, total assets reached TRY 52,2 billion and total shareholders’ equity stood at TRY 5,7 billion with an increase of 9%. While our cash loans amounted to TRY 30,4 billion with an increase of 30%; total deposits rose to TRY 37,1 billion up by 29%, a growth rate outperforming the sector average thanks to 51% strong growth in demand deposits.

Total amount of cash and non-cash loans injected to the local economy reached TRY 38,4 billion. While loans to total assets ratio was 58%, VakıfBank recorded loans to deposit ratio of 82% in 2008. NPL ratio for VakıfBank decreased from 4.64% to 4.57%.

2008 was the year of sustainable growth for VakıfBank. It was also the year for accomplishment of reconstruction and change process which started in 2005. In the light of renewing our corporate identity, we shared the change in business and service structure of VakıfBank with the public. We started to take the advantages of “customer focused” business approach based on our long term change plan. We targeted to provide more profitable and more effective banking operations. To reach this target, “customer focused” perspective became widely dominant in VakıfBank. Our main motivation is having seen that this perspective was highly appreciated by our customers.
VakıfBank opened 57 new branches in 2008 and has been serving with 525 branches, 2163 ATMs and 9600 employees.

In 2008, VakıfBank outperformed the sector average regarding NPL thanks to its strong lending policy and effective risk management. We will carry this momentum into 2009.

Looking at the first three months of 2009, VakıfBank continued to outperform the sector in asset quality and gained strength in profitability. We are targeting 10% growth in TL Loans. Regarding credit card business, we aim at keeping our strong growth started in late 2008.

We expect to fulfill our invetsments on Informations Technologies until the end of this year.

VakıfBank will continue its strategy of organic growth by increasing its number of branches and regions.
Our goal is to keep strong capital base, increase profitability and strengthen capital regarding the foreseen growth in the sector for 2010.

We are going to reach our 2009 targets with all our shareholders and employees.”

According to the General Assembly resolution, after the legal reserves were deducted from the net profits, the remaining balance will not be distributed to the shareholders and will be kept within the Bank.

At the end of VakıfBank’s 55th Annual General Assembly; the Board of Directors were composed of Yusuf BEYAZIT, Bilal KARAMAN, Ragıp DOĞU, İsmail ALPTEKİN, Sabahattin BİRDAL, Hasan ÖZER, Ramazan GÜNDÜZ and Serdar TUNÇBİLEK.

Yours sincerely,
VakıfBank
Items to be Presented to the Approvel of General Assembly
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Items to be presented to the approval of General Assembly. 
Date : 19.03.2009

At its meeting on March 19, VakıfBank’s Board of Directors decided to present following items to the approval of General Assembly to be held on April 3.

- The renewal of agreement with KPMG for the independent audit of 2009 financials.
- Not to distribute any dividends to the shareholders from year 2008 profits.

Yours sincerely,
VakıfBank
VakıfBank YE 2008 Financial Results
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank YE 2008 Financials 
Date : 23.02.2009

VakıfBank’s unconsolidated net profits are TRY 753 million in 2008.

VakıfBank’s net profits are TRY 753 million in 2008.

VakıfBank’s CEO Bilal Karaman stated: “VakıfBank’s asset size, up by 23% YOY, reached to TRY 52 billion. While our cash loans amounted to TRY 30,4 billion with an increase of 30 %; total deposits rose to TRY 37,1 billion up by 29%, a growth rate outperforming the sector average thanks to 51 % strong growth in demand deposits .

2008 was the year of change and progress for VakıfBank. As we completed the restructuring process at our bank, we also renewed our corporate identity. Initiating Vakıf World and transportation card projects, we expanded our product line. We gained market share in general purpose consumer, housing and total retail loans. VakıfBank showed a strong upward move in the last quarter of 2008, after launching the new credit card, Vakıf World.

We achieved 18% increase in net interest income. Despite significant contraction of the sector, our net interest margin climbed. As we benefited from the fruits of restructuring, net fee and commissions income was up by 11% QoQ and 29% YoY.

With 57 branch openings and 900 new employees, we managed to have increasing efficiency via our customer-focused business strategy. In 2008, we improved our service quality in all areas.

While growth in balance sheet was dominated by loan book expansion, we had no deterioration in our asset quality. Our NPL ratio was down from 4,64% to 4,57% YoY. Our CAR is 14,3% up by 54 bps and 82% loan to deposits ratio is a proof of strong balance sheet.

High liquidity, sound balance sheet structure and deposit based funding strengthened the position of VakıfBank in the current crisis environment. We will keep revitalizing and supporting the real sector of the economy. Total cash and non-cash loans injected to the national economy reached TRY 38,4 billion. With an expected loan book growth rate of 15% in 2009, VakıfBank will continue funding the real sector aimed at boosting the contribution to the national economy.”

Yours sincerely,
VakıfBank
Annual General Assembly April 2009
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Annual General Assembly 
Date : 23.02.2009

VakıfBank’s Annual General Assembly for 2008 will take place on April 3rd, 2009 at 2 p.m in the conference hall at Headquarters which is located on Ataturk Avenue, No:207 Kavaklidere/ ANKARA. A copy of the agenda is written below.

The Agenda of General Assembly on April 03, 2009:

1. Opening and the formation of presidency council.
2. Authorization of the President and vote collectors for the signing of General Assembly Minutes.
3. Readings and consultation of reports by Board of Directors, Auditors, Superior Supervisory Board on 2008 financials.
4. Reading, consultation and approval of independent auditor financial reports for year 2008 in regards.
5. Discharge of the Members of the Board of Directors regarding the 2008 financials.
6. Discharge of the Members of the Auditors regarding the 2008 financials.
7. The acceptance or decline of the dividend distribution proposal by the Board of Directors.
8. Presentation of dividend policy for year 2009 and thereafter to General Assembly.
9. The renewal of elections for the Board of Directors.
10. The renewal of elections for the Auditors.
11. Determination on the compensation of the Chairman, the Board of Directors and the Auditors.
12. Approval of the external audit firm election by General Assembly.
13. Presentation of donations made during the year to the shareholders.

Yours sincerely,
VakıfBank
Cancellation of Subsidiaries Disposal Mandate.
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Cancellation of subsidiaries disposal mandate.
Date : 05.02.2009

As it was announced on May 16, 2008, VakıfBank had given a mandate to JP Morgan Chase to work on the partial or complete disposal of bank’s share in Güneş Sigorta A.Ş. (Güneş Insurance Company) and Vakıf Emeklilik A.Ş. (Vakıf Pension Fund).

After having considered adverse economic conditions and ongoing financial turmoil in international markets; VakıfBank’s Board of Directors, at its meeting held on February 5, 2009, decided to cancel the process for the disposal of its shares in Gunes Insurance and VakıfBank Pension Fund.

Yours sincerely,
VakıfBank
2008
VakıfBank Borrowed USD 335 Million Syndicated Loan
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : Syndicated loan agreement signed 
Date : 19.12.2008

VakıfBank borrowed USD 335 million syndicated loan.

VakıfBank has signed a total amount of USD 335 milllion syndicated loan agreement.

Coordinated by West LB AG; the loan, raised by a consortium of 12 banks consisting of USD and EURO tranches, has an all in cost of Libor+2,00% and Euribor+2,00% for USD and EURO tranches respectively.

VakıfBank’s CEO Mr. KARAMAN stated that "Despite the severe market conditions where deleveraging was the order of the day, appetite for new risk was at its all time low globally ; we, as VakıfBank reaped a great success. The 90% roll-over of USD 375 million syndicated loan in 2007 with a total amount of USD 335 million has once again confirmed the reputation of VakıfBank and Turkish banking system."

Yours sincerely,
VakıfBank
The Sale of Vakıf Venture Capital
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : The sale of Vakıf Venture Capital 
Date : 24.11.2008

At its meeting on November 20, VakıfBank’s Board of Directors decided to continue the process for the sale of 31% (25 % Group A; 6% Group B ) VakıfBank, 0.05% Vakıf Finansal Kiralama A.Ş., 0.05% Vakıf Deniz Finansal Kiralama A.Ş. and 0.05% Güneş Sigorta A.Ş. shares in Vakıf Girişim Sermayesi Yatırım Ortaklığı A.Ş. (Vakıf Venture Capital Investment).

Thus, it was also decided that the company will continue its operations as a venture capital investment but an application will be made to the CMB for an additional period of one year in order to form venture capital portfolio.
Further information about the progress of mentioned sale process will be disclosed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank's 3Q 2008 Net Profits are TRY 568,6 Million
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 3Q 2008 Financial Results. 
Date : 14.11.2008

VakıfBank's 3Q 2008 net profits are TRY 568,6 million

VakıfBank's CEO Bilal Karaman stated "Despite negative outlook due to rising concerns regarding financial problems, VakıfBank continued its strong operating results in 3Q 2008 as well.

While VakıfBank's asset size reached TRY 50 billion, up by 18% YtD; loan growth was 28% rising to TRY 30,1 billion and deposits increased to TRY 35 billion up by 24%, a growth rate outperforming the sector average.
Third quarter of 2008 was a period in which we speeded up our investments to establish tomorrow’s VakıfBank. We renewed our corporate identity and completed restructuring in credit cards. Furthermore, we launched pay-pass card projects starting with the AntKart scheme in Antalya.

Adding 80 new branches in one year, we have now reached to 521 branches and headcount rose to 9600, an increase of almost 1000. We will continue to open new practical branches focusing on retail banking services. While growth in our balance sheet is dominated by loan book expansion, we maintain our asset quality. NPL ratio came down to 4,2% from 5,2% a year ago. The loans to deposits ratio was 84% and equity was up by 4,9% QoQ.
VakıfBank continued to support the real economy with cash loans reaching 60% of the total assets up from 52% a year before. Total cash and non-cash lending in the first 9 months was 37,7 billion up from 26,2 billion in the previous year
.
VakıfBank will continue to support the real economy prudently with priority over staying liquid in a deteriorating environment."

Yours sincerely,
VakıfBank
VakıfBank Transportation Card Initiative in Antalya
To : Investor Community 
From : VakıfBank – Investor Relations 
Tel :(90-212) 316 7120 
Fax :(90-212) 316 7126 
e-mail: investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Transportation Card Initiative in Antalya. 
Date : 03.11.2008

VakıfBank brought together transportation and banking service under same platform with a single card.
VakıfBank, with AntKart, starts a new era in Antalya, tourism capital of Turkey.

Signing an agreement with AntKart company, VakıfBank put into service in Antalya debit and credit cards that can be used for local transportation payments. Consequently; a single card can be used for trasportation, shopping, banking transactions and any payments to be made. Moreover, VakıfBank and AntKart customers can also benefit from all these services using NFC (Near Field Communication) compatible mobile phones, watches and key rings.
Having completed necessary technological infrastructure supporting NFC system with its technology-business partner Verisoft; VakıfBank, first time in Turkey, starts contactless payment with mobile phones in transportation and shopping. VakıfBank and AntKart, adapting state-of-the-art technology into transportation, cooperated for Ulaşım Kart, which will simplify everyday life in Antalya.

With this new initiative, residents of Antalya may use high-tech VakıfBank debit and credit cards and NFC compatible mobile phones to travel by 161 buses, 660 minibuses, 3 tramcars. Currently, Antalya has a population of 800.000 and 500.000 AntKart are in use.

VakıfBank CEO Bilal Karaman stated ‘We bring the newest and highest technology available to Turkey and aim to extend pay-pass transportation card solutions to other cities as well. Our target is serving our customers to simplify their lives not only in banking but also in every field of daily life. We will continue our pioneering services in the context of customer focused business understanding’

Yours sincerely,
VakıfBank
News Regarding the Evaluation of Turnover Application of Vakıf Venture Capital by CMB
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : News regarding the evaluation of turnover application of Vakıf Venture Capital by CMB. 
Date : 31.10.2008

As it was previously announced on 07.03.2008; VakıfBank signed an agreement for the sale of 31% (25 % Group A; 6% Group B ) VakıfBank shares in Vakıf Girişim Sermayesi Yatırım Ortaklığı A.Ş (Vakıf Venture Capital Investment) to Multinet Kurumsal Hizmetler A.Ş; and the sale of 0.15% Vakıf Finansal Kiralama A.Ş (0.05% Group B), Vakıf Deniz Finansal Kiralama A.Ş (0.05% Group B) and Güneş Sigorta A.Ş (0.05% Group B) to CFK Kurumsal Danışmanlık A.Ş. which was subject to the approval of Board of Capital Markets (CMB).

It was announced on October 24 that at its meeting on October 15, the CMB decided not to evaluate the application of turnover. No further details are available from CMB yet.

Additional information will be given after the evaluation of developments by the Board of Directors of both VakıfBank and Multinet.

Yours sincerely
VakıfBank
Sale of VakıfBank Subsdiaries
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Sale of VakıfBank Subsdiaries 
Date : 14.10.2008

As it was previously announced, VakıfBank’s Board of Directors decided to give a mandate to JP Morgan Chase to work on the partial or complete disposal of banks share in Güneş Sigorta A.Ş. (Güneş Insurance Company) and Vakıf Emeklilik A.Ş. (Vakıf Pension Fund) at the board meeting held on the date 15.05.2008.

Efforts for the sale of both subsdiaries continue and further information about the progress of the mentioned sale process will be disclosed.

We hereby declare that our above statements conform with the principles included in the Board’s Communiqué, Serial VIII Nr.39, that it reflects the information we received exactly; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

Yours sincerely,
VakıfBank
VakıfBank 1H 2008 Financial Results
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 1H 2008 Financial Results
Date : 15.08.2008

VakıfBank's 1H 2008 net profits are TRY 473 million, up by 41% QoQ
Having changed its service understanding from top to bottom besides its new corporate identity; VakıfBank increases its growth and profitability while taking further innovative steps. 1H 2008 financials firmly displayed that year 2008 will be a year of growth and leap for VakıfBank. Thanks to net interest income rising to TRY 949,2 million, up by 20% YoY; net profits reached TRY 472,7 million.

VakıfBank CEO Mr.Bilal KARAMAN stated "Reaping the benefits of restructuring efforts in last three years; VakıfBank carried growth momentum gained in 1Q 2008 into 2Q 2008 with increase in profitability despite economic slowdown. The Bank's 2Q 2008 net profits are TRY 276,3 million, up by 41% QoQ. VakıfBank's total assets were to TRY 48,5 billion, up by 14% YTD; while loan growth was 20% reaching TRY 28,2 billion and total deposits rose to TRY 34,8 billion, up by 20% outperforming the sector average. Thanks to higher profitability since 1Q 2008, ROAE was up to 21,4%.

Boosted by increased product mix and effective utilization of distribution channels, general purpose consumer loans and housing loans grew by 61% and 44% YoY and 22% and 23% YTD respectively. Accordingly, we gained market share in retail loans. Compared to 1H 2007, SME loans rose by 34%. Consequently, total cash loans were up by 50% YoY. Although growth in our balance sheet is dominated by loan book expansion, asset quality continues to improve. NPL ratio is down to 4.16% in 1H 2008 from 5.44% in the same period last year. While total deposits were up by 35% YoY, demand deposits grew by 63% and the share of demand deposits in total deposits increased to 16% from 13%. As a result, we were able to gain market share in total deposits without raising our cost of funding. The loans to assets ratio were up to 58% and the share of securities in total assets was down to 24.5%. While the ratio of loans to deposits rose to 81%; it was 77% for the TL, marking the growth potential in TL lending business.

The increase in our operating revenues is quite impressive as well. As net fee & commission income was up by 43% YoY, the share of net fee & commission income in operating income increased to 17.5%. Having transformed into a more dynamic and fast moving organization thanks to restructuring efforts, VakıfBank carried this change forward by renewing its corporate identity. Taking necessary steps in parallel to its modern banking understanding and presenting various innovative products one after another in the market, the Bank also made a strong comeback in credit cards with Vakıf World, its co-branded credit card. Thanks to the growth in credit cards segment we seek in the near future, we will scale up our net profits to a higher level."

Yours sincerely,
VakıfBank
VakıfBank Co-branded Credit Card Launched
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Co-branded Credit Card launched.
Date : 05.08.2008

Aiming to have a strong presence in all business lines of banking, VakıfBank took another step forward in order to achieve its growth strategy in credit card business. Having signed the preliminary agreement with Yapi Kredi Bank late last year, VakıfBank launched "VakıfWorld", its co-branded credit card as of today. With this new initiative, VakıfBank customers will enjoy all benefits World Credit Card programme presents.
VakıfBank CEO Bilal Karaman stated "Having considered all options to improve the Bank’s position in credit card business, VakıfBank chose to team up with Yapi Kredi within the context of World Credit Card programme. With this cooperation, we aim to triple the credit card volume in two years time."

Yours sincerely,
VakıfBank
VakıfBank Conference Call -1H2008 Earnings Results- on 14.08.2008
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Conference Call -1H2008 earnings results- on 14.08.2008.
Date : 25.07.2008

You are kindly invited to participate in a conference call on Thursday, August 14 at 18:00 PM Turkish time (16 PM UK time, 11 AM ET) following the announcement of 1H 2008 financial results. The event will be hosted by Mr.Tanju YUKSEL, Assistant General Manager responsible for International Banking and Investor Relations and a Q&A session will follow the presentation.
 
Either you may dial in +44 207 162 0025 (UK) or +1 334 323 6201 (USA)

or

follow the link below

https://eventreg1.conferencing.com/webportal3/reg.html?Acc=222055&Conf=159343
If you choose to register for the meeting through the link, you will be sent a specific telephone number, Conference PIN and Participant User PIN so that you will connect to the call directly without going through operator on the meeting day.
 
Yours sincerely,
VakıfBank
Syndicated Loan Agreement Signed
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Syndicated loan agreement signed.
Date : 23.07.2008

VakıfBank borrowed USD 750 million syndicated loan

As one of the long established banks in Turkey; VakıfBank, in the process of changing its corporate identity and service understanding, raised USD 750 million through a one-year term loan facility.

The loan, raised by a consortium of 25 banks from 12 countries and consisting of USD and EURO tranches, has an all in cost of Libor+%0,77 and Euribor+%0,77 for USD and EURO tranches respectively.

VakıfBank's CEO Mr. Bilal KARAMAN stated "Despite the ongoing financial turmoil in global markets; we, as VakıfBank, raised USD 750 million. The roll-over of USD 700 million syndicated loan in 2007 with an increase of USD 50 million with participation of 25 banks from 12 countries is an indicator of continuing trust to potential and bright prospects of both Turkey and VakıfBank. We will increase our support to industry with this new loan secured for pre-export finance and contribute Turkish exports especially through SMEs."

To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations@vakifbank.com.tr
Subject : New Corporate Identity of VakıfBank
Date : 10.09.2008

VakıfBank changed its corporate identity, here is the new VakıfBank!

As one of the most long standing banks in Turkey, VakıfBank changed its corporate identity and service concept radically.

VakıfBank's CEO Mr. Bilal KARAMAN, who implied that VakıfBank had changed from a stagnant structure into a dynamic thought stated;

"Today I'm proud to tell that we achieved difficult goals. My dream was to make VakıfBank one of the most prosperous actors in the modern banking sector. We enjoy the excitement of achieving that."

In the meeting launched for the press members, Mr. Bilal KARAMAN said below in summary;
"VakıfBank is now operating with 394 branches and 102 sub branches, at total 496 points. We plan to establish 350 new branches in three years and reach 846 service points thus
Mr. Karaman emphasized that VakıfBank determined to be in the top three banks in mortgage lending and revealed "Real Estate Agency Loyalty Program" which is one of its kind regarding to the mortgage lending marketing.


VakıfBank starts a new era in the transportation sector in order to increase the services to ease the daily life of its customers. All the VakıfBank debit cards will be able to be used as Transportation Card, a pay-pass card. We will start to furnish that service in İzmir and Adana."

VakıfBank's CEO Mr. Karaman also stated;
"According to the recently announced balance sheets dated 31 March 2008, VakıfBank is number one among the 10 biggest banks in terms of deposit and loan per branch and per employee. VakıfBank's total assets were up by 43% at the end of March 2008, from the end of 2005. VakıfBank's target for 2010 is TRY 82,5 billion total assets with 77% growth. At the end of March 2008, total loans were up by 118% from the end of 2005. VakıfBank?s target for 2010 is TRY 55 billion with 110% growth. At the end of March 2008 deposit growth was 38% from year end 2005 and our target for 2010 is TRY 60 billion with 88% growth.

Total cost for new corporate identity will reach 15 million USD and technological infrastructure investment reached 65 million USD between 2005 and 2007. We plan to invest an additional 75 million USD on technology between 2008 and 2010. Total cost of our transformation program is projected as 155 million USD over a period of 6 years time."

Yours sincerely,
VakıfBank
Divident Distribution Schedule
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Divident distribution schedule.
Date : 28.05.2008

It is decided on the General Assembly Meeting held on the date 21.03.2008 to distribute 5,688% (0.05688 TRY per 1 TRY share) to shareholders who are full-fledged taxpayers and receive their dividends through an office in Turkey or a regular agent; 4,8345% (0.04835 TRY per 1 TRY share) to shareholders who are full-fledged taxpayer natural persons, shareholders who are exempt from income and corporate tax and foreign based taxpayers, shareholders who are not corporate taxpayers and natural persons who are foreign based taxpayers.
Payments of dividend will start on the date 30.05.2008.

Shareholders will receive dividend in transit regarding the dematerialization by the Central Registry Agency (MKK A.Ş.) in terms of Securities Legislation.

Dividents will be paid to shareholders by all the branches of VakıfBank.

In order to certify the partnership of full-fledged corporations, a copy of Trade Registry Gazette, tax sheet, list of authorized signatures must be certified.

The dividends that the shareholders of VakıfBank’s A, B, C Group will be transferred to their investment accounts on the date 30.05.3008.

Shareholders who have accounts by Central Registry Agency (MKK A.Ş.) will be able to see the amount of their dividends on T+2 date 03.06.2008 regarding the Securities Legislation.

Yours sincerely,
VakıfBank
Subsidiaries Disposal Mandate.
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Subsidiaries disposal mandate.
Date : 16.05.2008

VakıfBank decided to give a mandate to JP Morgan Chase to work on the partial or complete disposal of banks share in Güneş Sigorta A.Ş. (Güneş Insurance Company) and Vakıf Emeklilik A.Ş. (Vakıf Pension Fund) at the board meeting held on the date 15.05.2008.

Further information about the progress of the mentioned sale process will be disclosed.

The board also decided to buy the nominal 620.000 TRY part of the VakıfBank Pension Fund’s shares in Vakıf Expertise Company which is %31 of total shares, with a price that is confirmed by an independent auditing firm. The capital of Vakıf Expertise Company is 2.000.000 TRY and VakıfBank’s share is %20 with 400.000 TRY in nominal terms. The share of VakıfBank Pension Fund is 1.100.000 TRY nominal with a stake of %55.

Yours sincerely,
VakıfBank
Subsidiaries Disposal Mandate.
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 1Q 2008 Financials
Date : 15.05.2008


VakıfBank’s 1Q 2008 net profits are TRY 196,4 million

According to VakıfBank’s 1Q 2008 financials; gross profits are TRY 253 million and net profits after tax & provisions are TRY 196,4 million.

General Manager Bilal Karaman stated;
"VakıfBank continues its growth momentum gained in year 2007 in 2008 as well.

VakıfBank’s total assets were up by % 10 to TRY 46,6 billion, while loan growth was % 11.1 reaching to TRY 26 billion and deposits rose to TRY 32 billion up by % 11, a growth rate outperforming the sector average and resulting in new market shares gained.

While growth in our balance sheet is dominated by loan book expansion, asset quality continues to improve. YTD increases in total cash loans, FX loans in terms of USD and non-cash loans were % 11.1, % 14,9 and % 21.3 respectively; providing Turkish economy with a total of TRY 33.147 million lending both cash and non cash.
With increased product mix and effective utilization of distribution channels; we grew general purpose consumer loans by %10.6 and housing loans by %15.4, which resulted market share gains in retail loans and housing loans to % 9 and % 8.2 respectively.

Due to the one-time gains in 1Q 2007, our net profits were down by % 10 to TRY 196.4 million. However our operating results are strong and revenues continue to increase. Thanks to reduced cost of funding despite new market share gain in deposits and a %18.3 growth in net interest income; NIM was up. Increased cross-sell and strong loan book expansion resulted in a record breaking % 59 increase of net fee & commission income YoY. This hefty increase is a messenger to strong effect of the continuing restructuring efforts for three years period on the revenues. VakıfBank will maintain this growth momentum and will achieve its year end profitability targets.
Adding 25 new branches by end of March 2008, we have now reached to a total of 385 branches. Expanding the branch network further and maintaining our profitable growth, we will continue to create value added for the national economy."

Yours sincerely,
VakıfBank
Merger of Vakıf Leasing and Vakıf Leasing
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Merger of Vakıf Financial Leasing and Vakıf Deniz Financial Leasing
Date : 16.04.2008

VakıfBank’s Board of Directors decided to start the process for the merger of Vakıf Leasing which is listed in ISE with code of VAKFN and Vakıf Deniz Leasing. Disclosures will be made regarding further developments in the process of merger. You can find the information regarding the ownership structures of two susbsdiaries below.

 Vakıf Leasing

Amount (TRY) Share (%)
Vakifbank 11.742.441,41 58,71
Gunes Insurance 3.129.797,36 15,65
Vakifbank Pension Fund 412.354,09 2,06
Vakifbank Private Pension Fund 207.795,83 1,04
Free Float 4.339.304,36 21,69
Other 168.306.959,00 0,85

Amount (TRY) Share (%)
Vakifbank 17.103.312,32 58,71
Gunes Insurance 2.422.662,46 9,71
Vakifbank Pension Fund 2.282.129,10 9,15
Vakifbank Private Pension Fund 2.418.520,77 9,69
Vakif Financial Leasing 723.375,35 2,9

Yours sincerely,
VakıfBank
Sale of VakıfBank’s Share in Roketsan Roket Sanayi A.S.
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Sale of VakıfBank’s share in Roketsan Roket Sanayi A.S.
Date : 09.04.2008

Board of Directors decided to start the process for the sale of VakıfBank’s % 10 share in Roketsan Roket Sanayi A.S. which has a nominal value of TRY 14.600.000 to company’s current shareholders or third parties. Disclosures will be made regarding further developments in the process of sale.

Yours sincerely,
VakıfBank
VakıfBank Annual General Assembly
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank Annual General Assembly
Date : 21.03.2008

Turkiye Vakıflar Bankasi T.A.O General Assembly approved the following resolutions at its meeting dated 21.03.2008

1. Independently audited 2007 balance sheet and profit/loss accounts were examined and approved.
2. 2007 financials were examined and the Members of the Board of Directors and auditors were discharged seperately regarding 2007 financials.
3. Gross TRY 142.200.000 from year 2007 profits of TRY 1.030.700.529,55 will be paid as dividend to the shareholders in accordance with title 9 of our Bank Act and title 84 of Articles of Association until 31.05.2008.
4. Dividend pay-out policy for 2008 and thereafter is as follows: In accordance with the legal framework; following the deduction of deferred tax asset income not subject to dividend distribution, the remaining balance of profit after the application of a,b,c articles of title 84 of Articles of Association, with the proposal from General Management and approval by the Board of Directors, will be distributed as dividend after considering the CAR, economic conditions and future expectations in a way not against the regulations of the CMB and BRSA.
5. The assignments of Mehmet Çekinmez and Serdar Tunçbilek as the Member of Board of Directors for places which became vacant during the year were approved.
6. Yusuf Beyazıt, Hasan Özer, Cem Demirağ, Erkan Topal, Serdar Tunçbilek and Mehmet Çekinmez, current members of the Board of Directors will serve their remaining one year. Sabahattin Birdal was assigned as the Member of Board of Directors and will succeed Serdar Toraman to serve remaining one year.
7. In accordance with the title 43 of Bank’s Articles of Association; Ahmet Tanyolaç and Faruk Eroğlu were elected as Supervisory Board Members representing Class A and C respectively while Aydın Seçkin and Fahrettin Bayraktar were elected for Reserve Supervisory Board memberships, representing Class A and C respectively.
8. The compensation of the Chairman and Members of the Board of Directors and auditors was decided to continue in compliance with ongoing regulations, rising by a ratio equal to percentage increase in personnel remuneration.
9. The renewal of agreement with KPMG for the independent audit of 2008 financials was approved.
10. Changes made in Personnel Regulations were approved.
11. The General Assembly was informed regarding the donations made in year 2007.

Yours sincerely,
VakıfBank
VakıfBank 2007 YE Financials
To : Investor Community
From : VakıfBank
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : VakıfBank 2007 YE Financials
Date : 29.02.2008

VakıfBank’s net profits are up by % 35 to TRY 1.031 million in 2007.

VakıfBank, according to 2007 year end financials, increased its gross profit to TRY 1.627 million while net profit after tax & provisions for the same period reached TRY 1.031 million, up by % 35,3 YoY.

VakıfBank’s total assets rose to TRY 42,4 billion while loan growth was % 30 reaching to TRY 23,5 and total deposits up by % 16 to TRY 28,9 billion.Thanks to higher profitability, ROAA increased to % 2,6 from % 2,2 in 2006 and ROAE was up from % 17,3 to % 21,3 for the same period.

General Manager Bilal Karaman stated ‘’ VakıfBank, in parallel to its profitable growth strategy, outperformed the expectations for year 2007.

Thanks to our focus on real banking operations; while the loans to deposits rose to % 81,3 in 2007 from %72,6 in 2006 and the ratio of loan to total assets was % 55,3 up from % 48,9 in 2006, securities were down to %25,9 of the total assets from % 28,3 in 2006.

With the momentum of the new retail loans offered, general purpose consumer loans were up by % 61 YoY and % 20 QoQ while housing loans were up by % 26 YoY and %10 QoQ. Starting to reap the benefits of ongoing restructuring program and rapid loan growth, VakıfBank registered a % 25 growth in net fee and commission income reaching TRY 360,5 million.

VakıfBank projects a % 30 loan growth in 2008 thanks to its loans to deposits of % 81, giving ample room for growth. The momentum gained in 4Q 2007 keeps its pace and we foresee market share gains in retail and SME segments with added value from new branch openings. Having restructured its Corporate & Commercial banking businesses, the bank will gain market shares in lending to such as well as foreign trade business that comes with it.

The bank opened 49 branches in 2007 and closed the year with 360 branches. In the first two months of 2008, opened another 25 to reach 385. The bank will continue its branch expansion strategy in 2008. Furthermore, operating expenses were only up by %4,65 despite fast branch expansion, proving the efficiency & savings achieved from the restructuring program.
News Regarding the Foundation Act Under Discussion in Parliament
To : Investor Community
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : News regarding the Foundation Act under discussion in parliament
Date : 20.02.2008

There have been news on daily papers regarding 2nd clause of Article 28 of No.5555 Foundations Act, which has not come into effect yet but is under discussion in Turkish Parliament. The above mentioned regulation states that enterprises and subsdiaries with more than 50 % of its capital owned by recorded foundations, will transfer 10 % of its corporate tax base to the General Directorate of Foundations (GDF) for use in the restoration of cultural properties under the management of recorded foundations which lack necessary funds for this purpose.
In this context, VakıfBank’s ownersip structure is as follows:

Group Shareholder Amount of the share (Nominal) Share (%)
A Recorded foundations represented and administered by GDF 1.075.058.639,56 43,0023
B Affiliated Foundations 386.224.784,72 15,4490
B Other Affiliated Foundations 4.681.052,45 0,1872
C Vakifbank Pension Fund 402.552.666,42 16,1021
C Other Real and Legal Persons 1.886.448,60 0,0755
D Free Float 629.596.408,24 25,1839
Total 2.500.000.000,00


 As it is seen from the table above, the share of recorded foundations in our Bank accounts for only % 43,0023 of the total.

In brief, the above mentioned regulation will not affect VakıfBank in any way whatsoever.

Yours sincerely,
VakıfBank
Annual General Assembly
To : Investor Community 
From : VakıfBank – Investor Relations
Tel :(90-212) 316 7120
Fax :(90-212) 316 7126
e-mail : investor.relations(at)vakifbank.com.tr
Subject : Annual General Assembly 
Date : 11.02.2008

VakıfBank’s Annual General Assembly for 2007 will take place on March 21st, 2008 at 2 p.m in the conference hall at Headquarters which is located on Ataturk Avenue, No:207 Kavaklidere/ ANKARA. A copy of the agenda is written below.

Shareholders not be able to attend in person can be represented by proxy holder. Any shareholder who has 10 shares or any proxy holder who represents this amount of shares will have one vote. 

The Agenda of General Assembly on March 21, 2008:

1. Opening and the formation of presidency council. 
2. Authorization of the President and vote collectors for the signing of General Assembly Minutes.
3. Readings and consultation of reports by Board of Directors, Auditors, Superior Supervisory Board on 2007 financials. 
4. Reading, consultation and approval of independent auditor financial reports for year 2007 in regards. 
5. Discharge of the Members of the Board of Directors and the Auditors regarding the 2007 financials. 
6. The acceptance or decline of the dividend distribution proposal by the Board of Directors.
7. Presentation of dividend policy for year 2008 and thereafter to General Assembly.
8. Approval of assignments to the Board of Directors for places which became vacant during the year.
9. The renewal of elections for the Board of Directors. 
10. The renewal of elections for the Auditors. 
11. Determination on the compensation of the Chairman, the Board of Directors and the Auditors. 
12. Approval of the external audit firm election by General Assembly.
13. Submission of changes made in Personnel Regulations to the approval of General Assembly.
14. Presentation of donations made during the year to the shareholders.

Yours sincerely,
VakıfBank
2007
VakıfBank Borrowed USD 375 Million Syndicated Loan
VakıfBank rolled over its one year maturity USD 375 million tranche of the USD 700 million syndicated loan borrowed in December 2006 by raising the same amount from a consortium of 23 banks. The loan has an interest of Libor+ %0.25.

VakıfBank General Manager Bilal Karaman stated ‘’ Volatility, intensifying and turning into a crisis in international markets, caused liquidity narrowing in debt markets. Foreign banks became overcautious in lending, due to the unexpected huge losses related to their mortgage portfolios. Under these circumstances, VakıfBank managed to roll over USD 375 million tranche with the lowest possible price. This confirms the ongoing trust to Turkey and VakıfBank . We will use the syndicated loan for our customers pre-export finance needs.’’
VakıfBank's Net Profit in 3Q 2007 rose to TRY 809 Million, an İncrease of %46
VakıfBank, according to the financials for the period January 1-September 30 2007, increased its gross profit to TRY 1.252 million. The bank's net profit after tax & provisions for the same period reached TRY 809 million, up by %46 YoY and % 27 QoQ.VakıfBank's total assets rose to TRY 40 billion, ROA was %3,3. ROAE was up from %19,65 in 3Q06 to %27,6 in 3Q07.

General Manager Bilal Karaman stated " Thanks to the rapid loan growth and drop in the cost of deposits in the third quarter, VakıfBank's 3Q 2007 net profit reached TRY 809, up by %46 YoY. Net fee & commision income with a %13 increase YoY has been one of the drivers of increased profitability.

At the end of 3Q 2007, total loan portfolio was up by %15,5 YTD, while TRY loans were up by a stronger %22,5 YTD. Thus the rations of loan to total assets and loan to deposits were up to %52 and %77 repectively.General purpose consumer and housing loans were the two main performers with %35 and %14 growth respectively.

VakıfBank opened 33 new branches this year. By reaching 385 branches at the end 2007 we are aiming to pursue the loan growth strategy especially in consumer and SME loans."
VakıfBank Teams Up with Yapi Kredi Bank for Co-Brand Credit Card

VakıfBank, in order to implement its growth strategy by way of co-branding with one of the existing credit card brands, has chosen to team-up with Yapi Kredi Bank within the context of World Credit Card Programme.

VakıfBank's Board of Directors has authorized its General Manager to proceed and complete the signing of the final agreement.
VakıfBank’s Net Profit in 1H of 2007 rose to TRY 479 Million , an İncrease of %32
VakıfBank, according to the financials for the period January 1 – June 30 2007, increased its gross profit to TRY 797 million. The bank’s net profit after tax & provisions for the same period reached TRY 479 million, an increase of % 32 YoY and % 18,5 QoQ. While VakıfBank’s total assets rose to TRY 39,2 billion; ROA was %2,7. ROAE increased to %23,4 compared to %17,3 at the end of year 2006.

General manager Bilal Karaman stated ‘’ VakıfBank, in 2Q of 2007, raised its net interest income to TRY 790 million, total operating income to TRY 1.256 million and gross profit before tax & provisions to TRY 797 million with increases of %9, %19, %23 YoY respectively. Accordingly, our Bank’s net profit in 1H 2007 reached TRY 479 million, an increase of %32 YoY.

VakıfBank’s loan portfolio grew by %17 compared to same period in previous year, reaching TRY 18,9 billion. Thanks to %13 increase YTD in TRY loans, the ratios of loan to total assets and loan to deposits were %48,1 and %73 respectively. While highest growth rate came in retail loans with %12, general purpose consumer loans was the best performer in retail loans with an increase of %22.

At the end of 1H 2007, thanks to %12 YTD increase in TRY deposits, our total deposits were up by %14 YoY reaching TRY 25,8 billion.

With 11 branches opened in 1H 2007, we will continue to pursue our growth strategy in Consumer & SME businesses with another 60 branches opened up by end of the year.’’
VakıfBank Borrowed USD 700 Million Syndicated Loan from a Consortium of 29 banks
VakıfBank raised USD 700 million through a one-year term loan facility from international debt markets for pre-export finance. The loan was oversubscribed by USD 140 million, total demand reaching USD 840 million. However, VakıfBank, in line with its needs, preferred to draw USD 700 million.

Raised by 29 banks of 13 countries, the loan has an all in cost of Libor + % 0.475.

Abn Amro, American Express Bank Ltd, The Bank of New York, The Bank of Nova Scotia, The Bank of Tokyo-Mitsubishi UFJ Ltd., BayernLB, Citibank N.A., Commerzbank Aktiengesellschaft, Depfa Bank Plc, Deutsche Bank AG, Dresdner Kleinwort, DZ Bank AG, Fortis Bank S.A./N.V., The Governor and Company of the Bank of Ireland, ING Bank N.V., J.P. Morgan Plc, Mashreqbank PSC, Natixis, Unicredit Group, Wachovia Bank N.A. and WestLB AG were the Mandated Lead Arrangers; other arrangers were Barclays Bank Plc, BHF-Bank AG, HSH Nordbank AG, Intesa San Paola SpA, The Saudi National Commercial Bank, Dexia Bank Belgium SA, Habib Bank AG Zurich and UBS AG.’’

The loan agreement was signed on July 12, 2007 in Istanbul with the attendance of VakıfBank General Manager Bilal Karaman and senior representatives of creditor institutions.

"VakıfBank General Manager Bilal Karaman stated "VakıfBank will increase its support to the real sector with this new loan secured for pre-export finance. We will contribute to the competitiveness of the real sector and therefore to the Turkish Exports especially through SMEs. A total of USD 840 million demand from international markets for the loan during a period of parliamentary and presidential elections, was obtained with the lowest possible price paid to such facilities, confirms the trust in Turkey and VakıfBank."
A Technological Step From VakıfBank
 VakıfBank reached an agreement with IBM on Customer Oriented Transformation Project VakıfBank, continuing its innovational practices with investments in technological infrastructure, in parallel to its Customer Oriented Banking understanding, shook hands with IBM for the transformation project. Within the context of the agreement which will be valid for two years and cost approximately USD 25 million, IBM will provide VakıfBank with services of front office, CRM, MIS (Customer Relations Management, Management Information Systems) and Data Warehouse Solutions and will set up software and hardware for these. VakıfBank’s customer oriented transformation project includes very basic changes and implementations at the branches, which are the most extensively used distribution channel. This project aims to improve VakıfBank’s relations with its corporate, commercial and retail clients, increase its performance in gaining new customers, ensure faster and higher quality services oriented to the needs of different customer segments.

IBM, integrating Oracle Siebel products, will be responsible for tailoring these products to the needs of VakıfBank and enable improvements in business processes at all points where VakıfBank is in touch with its customers. Additionally, IBM will provide the middleware and hardware necessary for the integration.

"Regarding the agreement, VakıfBank General Manager Bilal Karaman stated: “Banks, operating under global competition, have to follow the technological developments closely. To sustain competitiveness and growth in the sector seems possible only through investments in technological infrastructure. The transformation process in our bank, continuing for two years is customer oriented restructuring projects. With investments made in our technological infrastructure, we aim to provide the fastest solutions to the customer, respond to rising customer expectations faster and more effectively as well as with an innovational broad service understanding, in line with our customer satisfaction oriented service understanding. Our cooperation with IBM is a part of this process. As a result of this investment, we will also access the database and reporting standards which are necessary for VakıfBank’s roadmap in transition to Basel II regarding the credit, market and operational risk management. Estimated cost of the restructuring project which started in 2005 and the technological infrastructure and equipment investments in the context of this project is close to USD 200 million. VakıfBank, developing growth oriented projects and putting these into practice in recent years, will continue to undertake more important projects."

IBM Turk General Manager Eray Yüksek stated: “We are proud to be with VakıfBank in this very important project per our mission to lead the technological development of the Turkish Banking Industry. Thanks to our presence in Turkish financial sector for 70 years and our experience from countless global transformation projects, we are starting a long-term partnership with VakıfBank. It is widely accepted that one of the most important success criteria in banking over the next 20 years will be customer orientation. Transferring our global expertise to all platforms where VakıfBank is in touch with its customers, we will carry our customer to a more competitive position.’’
VakıfBank Today Announced the Completion of USD 500 Million Seciritisation issue based on Diversified Payment Rights
Arranged under the leadership of ABN Amro Bank NV, Citibank N.A. and ING Bank N.V., transaction has one tranche of USD 150 million with 8-year maturity and two transactions USD 350 million with 10 year-maturity.
While tranche of USD 150 million with 8 year maturity and USD 150 million with 10 year maturity were rated by Moody’s and S&P as Baa2 and BBB-, respectively; tranche of USD 200 million with 10 year maturity, wrapped by MBIA and was rated as AAA.

Accordingly, VakıfBank, including the transaction of USD 915 million executed in 2006, has a long-run funding of USD 1,415 million.
VakıfBank's Net Profit in 1Q of 2007 İncreased to TRY 219 Million
VakıfBank, according to the financials for the period January 1- March 31 2007, increased its gross profit to TRY 399 million and net profit after tax & provisions reached TRY 219 million, an increase of % 6 YoY. While Bank’s total assets rose to TRY 38,2 billion and ROA was % 2.3 , ROE increased to % 20.5 compared to % 17.2 at the end of 2006.

General Manager Bilal Karaman stated ‘’ VakıfBank, in 1Q of 2007, raised its net interest income to TRY 408 million, total operating income to TRY 640 million and gross profit before tax & provisions to TRY 399 million with increases of %11, %23, %14 YoY respectively. Accordingly, our Bank’s net profit in 1Q reached TRY 219 million, an increase of % 6 YoY.

Our Bank’s loan portfolio grew by % 36.4 compared to same period in previous year, reaching TRY 18,4 billion. Thanks to especially % 6.5 increase in TRY loans in 1Q, the ratios of loan to total assets and loan to deposits were % 48.3 and % 72 respectively.

Total deposits, thanks to % 11 QoQ increase in TRY deposits, rose to TRY 25,7 billion, an increase of % 8 YoY and % 4 QoQ.

In 1Q of 2007, we opened 4 new branches, two of which are corporate branches in Istanbul and expanding our branch network over 350, we target to increase our performance in retail and SME business and further support the Turkish Economy and to strengthen our competitive position in the sector
Turkiye Vakıflar Bankasi T.A.O. General Assembly Approved the Following resolutions at its meeting dated 30.03.2007
1. Independently audited 2006 balance sheet and profit/loss accounts were examined and approved.

2. 2006 financials were examined and the Members of the Board of Directors and auditors were discharged seperately regarding 2006 financials.

3- TRY 384.864.826,48 from 2006 net profits of TRY 769.729.652,95 will be paid as dividend to the shareholders (gross TRY 0,3009 per TRY 1 [%30,09]) in accordance with title 9 of our Bank Act and title 84 of Articles of Association until 31.05.2007. In accordance with the Turkish Accounting Standards, previous years profit of TRY 39.228.534,44 due to previous year corrections will be transferred to Extraordinary Reserves Account.

4. Dividend pay-out policy for 2007 and thereafter is as follows: In accordance with the legal framework; following the deduction of suspended tax asset income not subject to dividend distribution, the remaining balance of profit after the application of a,b,c articles of title 84 of Articles of Association, with the proposal from General Management and approval by the Board of Directors, will be distributed as dividend after considering the CAR, economic conditions and future expectations in a way not against the regulations of the CMB and BRSA

5. The agreement with KPMG for the independent audit of 2007 financials was approved.

6. The cancellation of the stocks arrangement 1,2,4-11 was approved.

7. The current members of the Board of Directors(Yusuf Beyazıt, Bilal Karaman, A. Müfit Cengiz, M. Zeki Akıllıoğlu,Selahattin Toraman, Hasan Özer, Cem Demirağ, Ragıp Doğu ve Erkan Topal), elected for a three year term at 52ndAnnual General Assembly on 31.03.2006 will serve their remaining two years.

8. In accordance with the title 43 of Banks Articles of Association; Ahmet Tanyolaç and Faruk Eroğlu, Supervisory Board Members, elected for an initial 2 year term at 52nd Annual General Assembly on 31.03.2006, will serve their remaining last year. Aydın Seçkin and Fahrettin Bayraktar were elected as Reserve Supervisory Board members representing Class A and C respectively.

9. The compensation of the Chairman and Members of the Board of Directors and auditors was decided to continue in the same way as it was determined at 52th Annual General Assembly. 

10. The General Assembly was informed regarding the contributions and donations (scholarships, educational aids, contributions to social foundations) of TRY 2.288.785 based on the decision and authorization of the Board of Directors.
VakıfBanks 2006 Net Profit Grew by 46%, Reaching TRY770 Million
VakıfBank, recording a rapid expansion in every aspects of banking for the last several years, maintained its growth in 2006 as well. Bank’s total assets increased to TRY37 billion, an increase of 14% YOY. VakıfBank’s shareholders equity has risen to TRY4.4 billion and gross profit before tax & provisions has reached TRY1.346 million.

General Manager Bilal Karaman stated "VakıfBank grew its loan portfolio by 50%, well above sector average, to TRY18 billion. Accordingly, VakıfBank’s loans to total assets ratio increased to 49% in 2006 compared to 37% of 2005. Net Interest Income inreased by 20.2%. Thanks to effective ALM, net profits increased by 46% in 2006 reaching TRY770 million.

Consumer, housing and auto loans reached TRY3,952 million, growing by 54% and SME loans reached TRY3,572 million, growing by 38%. For 2007, our target is to increase our performance in retail and SME business and further support the Turkish Economy by expanding our branch network to over 350 branches and to strengthen our competitive position in the sector."
Invitation to VakıfBanks Annual General Assembly
VakıfBanks Annual General Assembly for 2006 will take place on March 30th, 2007 at 10 a.m in the conference hall at Headquarters which is located on Ataturk Avenue, No:207 Kavaklidere/ ANKARA. A copy of the agenda is written below.
Shareholders not be able to attend in person can be represented by proxy holder. Any shareholder who has 10 shares or any proxy holder who represents this amount of shares will have one vote.
The Agenda of General Assembly on March 30, 2007

1. Opening and the formation of presidency council. 
2. Authorization of the President and Vote Collectors for the signing of General Assembly Minutes.
3. Readings and consultation of reports by Board of Directors, Auditors, Superior Supervisory Board on 2006 financials. 
4. Reading, consultation and approval of independent auditor financial reports for year 2006 in regards. 
5. Discharge of the Members of the Board of Directors and the Auditors regarding the 2006 financials. 
6. The acceptance or decline of the dividend distribution proposal by the Board of Directors. 
7. The renewal of elections for the Board of Directors. 
8. The renewal of elections for the Auditors. 
9. Determination on the compensation of the Chairman , the Board of Directors and the Auditors.
VakıfBanks Annual General Assembly will be held on Friday 30th of March 2007.
VakıfBanks Annual General Assembly will be held on Friday 30th of March 2007, at Ataturk Bulvari No:207 Kavaklidere, Ankara, Turkey.

31.01.2007 T.Vakıflar Bankasi T.A.O increased its paid-in-capital from TL-1,279,000,000 to TL-2,500,000,000
T.Vakıflar Bankasi T.A.O increased its paid-in-capital from TL-1,279,000,000 to TL-2,500,000,000, which implies issuing 0.954652 new bonus shares per existing 1 share.
In accordance to the decision of Board of Directors, which is approved by CMB dated 15th January 2007, the sources of the bonus issue are;
 
  • TL 7,794,988.72 from the Revaluation Fund
  • TL 154,500,031.08 from Extraordinary Reserves
  • TL 605,762,812.52 from Other Capital Reserves
  • TL 4,737,187.48 from Other Profit Reserves
  • TL 448,204,980.20 from Share Premium.

The bonus rights will be available as of 30.01.2007. Bonus rights of unregistered shares will be applicable at the addresses specified between 30.01.2007-14.02.2007 dates in consideration of No: 1 new bonus coupons, from the deadline date it will be available in Head Office only. Bonus shares will not have dividend payment rights of 2006 therefore those will be traded under the name of “VAKBNY” and existing shares will be traded under the name of “VAKBN”. Application addresses for unregistered shares are; Head Office, all branches and Securities and Institutional Investments Department of the bank.
2006
T.Vakıflar Bankası T.A.O Borrowed USD 700 Million from an İnternational consortium of 26 banks through a club deal.
T.Vakıflar Bankası T.A.O borrowed USD 700 million from an international consortium of 26 banks through a club deal.The loan has three tranches with maturities 1,2 and 3 years amounting USD 375 million ,USD 128 million and USD 197 million. All in cost of the tranches are Libor+0,525% , Libor+0,625% and Libor +0,825%, respectively. The transaction is signed in İstanbul on the 20th December 2006.
VakıfBank Joined to World Saving Banks Institution.
VakıfBank’s membership of WSBI was approved during the 21st World Congress of Saving Banks in Kuala Lumpur. WSBI was founded in 1924, currently has 105 members from 86 countries. WSBI represents savings and retail banks’ interests at an international level while also facilitating the provision of access to financial sectors worldwide, e.g. through training, consultancy services, etc., be it in developing or developed regions. VakıfBank, with its widespread branch network within the country, provides banking products to different segments of the society especially with its success in retail banking provided a contribution to the society and became a member of WSBI as a first Turkish Bank in the institution.
VakıfBanks Net Profit for the 3rd quarter of 2006 is up by 65% Reaching TL 609 million.
Based on bank-only BRSA financials, gross profits were TL 995mm during the nine months of 2006. Net profit went up by 65% reaching TL 609mm YoY. The Banks total assets were TL 34.9billion with an increase of 7.7% from year-end 2005. Loans were TL 16.4billion and deposits TL 23.3million.

Mr. Bilal Karaman, the General Manager of VakıfBank, made the following statements regarding the performance of VakıfBank in the third quarter of the year 2006:

“VakıfBank maintained its profitability despite slowdown in loan demand,  increasing interest rates, depreciation of TL  and increasing cost of funding  due to the volatility in the global and domestic markets during the second quarter of the year. We managed to increase our net interest income by 15% to TL 1,153million. Meanwhile, despite the expenses of restructuring, thanks to strong cost control policies, operating expenses increased by 12.7% and net profit reached TL 609million with an increase of 65% YoY.

Mr Karaman also stated that the loans increased by 64%YoY and 38% YtD, reaching TRY 16.4 billion. Total loans represent 47% of total assets and loan to deposit ratio reached 70%. There has been a rapid slowdown in loan demand, especially in retail loans in the 3rd quarter of the year. Consequently, VakıfBank focused on developing a tailored product to stimulate the retail loan demand. “Falling interest rate” loan program was introduced with a very good timing and attracted more interest even beating our expectations. Thanks to the “Falling interest loan” and “TOKI projects housing loan program”, VakıfBank increased its retail loans also in the 3rd quarter of 2006. VakıfBank will continue to develop and introduce tailored products in retail and SME loans in order to maintain its leadership position.
Floating Down Interest Rate Programme
With the help of strong capital VakıfBank annouced a new product to the market. “Floating Down Interest Rate Programme”. This is a new retail loan product which offers Housing Loans, Auto Loans and General Purpose Consumer Loans. 

In reflecting the fall in interests to consumers, the average interest rates of the 5 biggest players (Banks) will be reference point. Any 10 bps drop in the average of the top 5, will be reflected to consumers as 5 bps. There will not be any extra fee and commission charges.
VakıfBank Decreased its Housing Loan İnterest Rates
VakıfBank decreased its housing loan interest rates for all the ongoing projects of TOKI (Mass Housing Agency) and Emlak GYO (Real Estate Investment Company). This is the most comprehensive housing campaign ever in Turkey which will apply to 7 projects with 8.500 units of houses. New interest rates will be effective until end of October 2006. The interest rates per month are as follows:

Upto 9 months             0.00 %
5 years                        1.29 %
10 years                      1.39 %

Such low interest rates are achieved with the subsidization of construction companies rather than VakıfBank’s pricing. The campaign is structured by VakıfBank’s intensive financial engineering studies within a period of 40 days.
VakıfBank’s Net Profit for the 1st Half of 2006 is up by 103% to Reach TL 423 million.
Based on bank-only BRSA financials, gross profits were TL 716mm during the first half of 2006. Net profit up by 103% to reach TL 423mm YoY. The Banks total assets were TL 33.8billion, with a return on average asset (ROAA) of 2,56%. Return on average equity (ROAE) for the same period is 21%.

Mr. Bilal Karaman, the General Manager of VakıfBank, made the following statements regarding the performance of VakıfBank in the first half of the year 2006:

“Despite the turmoil in the global and domestic markets during the second quarter of the year, VakıfBank has maintained its profitability and growth. Net profits were up by 103%to score TL 423mm YoY.

VakıfBank continued to support the SME’s, real sector and consumers. Loan portfolio has gone up to TL 16.1billion with an increase of 81% YoY and with an increase of 35% from year end 2005. Loan to asset ratio is up to 47% and loan to deposit ratio reached to 71% by growing on loans.

Net interest income reached to TL 781 million with an increase of 12.76% YoY through rational fund management and loan growth.

Despite the adverse  market conditions during the last quarter, VakıfBank’s CAR came out to be 18.64%, which demonstrates its financial strength and the Bank’s growth potential.”
VakıfBank has Raised an Amount of USD 700 Million Through a One-Year Club loan facility.
VakıfBank has raised an amount of USD 700 million through a one-year club loan facility and with an all in cost of Libor+%0.525, by the participation of 22 international banks. The transaction was signed on 19th July, 2006. 
The Mandated Arrangers on this transaction are: Alpha Bank A.E., American Express Bank GmbH, The Bank of Nova Scotia, The Bank of Tokyo-Mitsubishi UFJ, Ltd., BayernLB, CALYON, Citibank, N.A., Commerzbank Aktiengesellschaft, Dresdner Bank AG, Fortis Bank S.A./N.V., HSH Nordbank AG Luxembourg Branch, J.P. Morgan plc, Mashreqbank PSC, Natexis Banques Populaires, Raiffeisen Zentralbank Österreich Aktiengesellschaft, Standard Chartered Bank, UniCredit Group (represented by Bank Austria Creditanstalt AG and Bayerische Hypo- und Vereinsbank AG), Wachovia Bank, National Association, WestLB AG London Branch, Banca Intesa S.P.A, BHF Bank AG ve ING Bank NV.
Standard Chartered and WestLB AG as Joint Lead Managers and Bookrunners of US$ 915 million diversified payment rights issue for Türkiye Vakıflar Bankasi T.A.O.
Standard Chartered Bank and WestLB AG, London Branch today announced the completion of a US$ 915 million securitisation issue (the “Issue”) for Türkiye Vakıflar Bankası T.A.O. ("VakıfBank"). This Issue by VB DPR Finance Company (the Issuer) is VakıfBank’s inaugural issue into the international debt capital markets under VakıfBank’s diversified payment rights (“DPR”) programme. Four of the five Notes issued under the programme are insured by monoline insurers.

This Issue is also notable for being the largest single issuance into the international capital markets for a 144A and Regulation S securitisation out of Turkey and is one of the largest ever DPR securitisation issuances to date internationally. This Issue combined with VakıfBank’s successful IPO in 2005, positions VakıfBank as one of the top tier banks in Turkey.

The Issue was distributed principally to a range of institutional investors located in Europe, the US and the Middle East. Standard Chartered and WestLB acted as Joint Lead Managers and Joint Bookrunners for this transaction.

Series Amount S&P/Moody's Monoline Maturity Average Life Coupon
2006-A US$150 million AAA / Aaa FGIC 2013 5.2 3mL + 21
2006-B US$250 million AAA / Aaa MBIA 2014 5.7 3mL + 21
2006-C US$115 million AA / Aa3 Radian 2014 5.7 3mL + 36
2006-D US$200 million AAA / Aaa Ambac 2014 5.7 3mL + 21
2006-E US$200 million BBB- / Baa2 Uninsured 2013 5.2 3mL + 120


Tanju Yüksel, Assistant General Manager for VakıfBank commented, “Given the recent market events, we are delighted with the very professional and timely execution of the transaction by both Standard Chartered Bank and WestLB, as joint Lead Managers and Bookrunners, and the monoline insurers, FGIC, MBIA, Radian and Ambac whose support was integral to the success of the Issue. The market reception and the pricing of all series of the Notes was very much to our satisfaction. Importantly for VakıfBank, we are now one of four Turkish banks that have successfully executed an insured AAA / Aaa DPR Issue in the 144A / RegS market. This is yet another successful step forward for VakıfBank in establishing itself in the international capital markets.”


Noel Edison, Managing Director for Standard Chartered Bank commented, “We were very pleased with the final execution of this transaction. The transaction was heavily subscribed and priced at tight levels placed with 23 different investors, which underscores the interest from investors in this inaugural issue by VakıfBank, despite the current market conditions. With the ongoing support of the monoline insurers, we expect to see continued use of the Turkish DPR programmes for large issues.”

Julian Turner, Director in Asset Securitisation at WestLB AG, London Branch, commented, “A strong book containing predominantly end investors located across Europe and the U.S. has been delivered for VakıfBank. It’s particularly pleasing to come to market with a combined Rule 144A / RegS issuance together with Standard Chartered, where our combined strength on placement has been demonstrated on this deal. Congratulations to VakıfBank on another successful Payment Rights transaction”.

The DPR programme is an important part of VakıfBank’s international funding efforts, providing VakıfBank with the opportunity to access international term funding and a global investor base. 


VakıfBank has significant experience as an originator and servicer of remittance securitisations, with the first DPR securitisation programme established in 2001 and five transactions issued since 2001 totalling US$ 1.45 billion, all of which have subsequently repaid in full. 

The transaction was arranged and underwritten on a joint lead basis by Standard Chartered and WestLB.
VakıfBank Assigned 4 New Assistant General Managers.
VakıfBank is pleased to announce below the list of Assistant General Managers, their responsibilities with 4 new assignments and short biographies of them.

Mr. Tanju YUKSEL Asst.General Manager International Banking &; Investor Relations
Mr. A.Atıf MEYDAN Asst.General Manager Banking Operations-Treasury&Foreign Transactions Operations
Mr. Aydın DELIKTASLI Asst.General Manager Corporate Banking - Support Services
Mr. Sahin UGUR Asst.General Manager Subsidiaries &; Affiliates
Mr. Feyzi OZCAN Asst.General Manager Treasury - Distribution Channels - VakifBank Pension Fund – HR
Mr. Onder HALISDEMIR Asst.General Manager Retail Banking - Credit Cards - IT - Public Relations
Mr. Metin Recep ZAFER Asst.General Manager Financial Affairs &; Accounting - Planning&;Organisation
Ms. Birgul DENLI Asst.General Manager Investment Banking
Mr. Dogan PENCE Asst.General Manager Commercial Banking - Legal Entities - NPL Recovery

Mr. Onder HALISDEMIR 
Assistant General Manager, Retail Banking - Credit Cards - IT - Public Relations 
Having started to work at VakıfBank as an Assistant General Manager on 21.06.2006, Onder HALISDEMIR was Head of Retail Banking in Akbank and before that position he worked in various positions for Alternatifbank. He is a graduate of Marmara University, Faculty of Economics and Administrative Sciences and has a Phd. on Banking from Marmara University. He has also publications about ‘Mortgages’ and ‘Retail Banking’ issued by Capital Markets Board of Turkey and Banking Association of Turkey.

Mr. Metin Recep ZAFER 
Assistant General Manager, Financial Affairs & Accounting – Planning & Organisation 
He joined VakıfBank as an Assistant General Manager on 13.06.2006. Before his appointment, Mr.Zafer has been managing Financial Control Division of Ziraat Bank. He is a graduate of Gazi University and Marmara University, Faculty of Economics and Administrative Sciences and he has a Phd. from Marmara University on Banking and Insurance.

Ms. Birgul DENLI 
Assistant General Manager, Investment Banking 
Previously having worked for Yapi Kredi Bank, Iktisat Bank, Maddox Financial Services Ltd., Citigroup (SSSB) and VakıfBank International AG in various positions Ms.Denli was appointed as an Assistant General Manager at VakıfBank on 15.06.2006. She is still a board member of VakıfBank International AG. Ms.Denli is a graduate of ODTU (Middle East Technical University) – Faculty of Science and Literature and has a post-graduate degree from London Metropolitan University

Mr. Dogan PENCE 
Assistant General Manager, Commercial Banking - Legal Entities - NPL Recovery 
Mr.Pence started to work as an Assistant Auditor in 1991 in VakıfBank. He served as Head of the Commercial Loans Department before his appointment as an Assistant General Manager on 07.06.2006. Mr.Pence is a graduate of Istanbul University, Faculty of Political Sciences.
Retail Loans to Merchants&Craftsmen Pensioners
VakıfBank introduced a new loan to Merchants and Craftsmen pensioners. The loan is extended to solvent merchants and craftsmen pensioners who are eligible to receive pensions but have overdue obligations to social security system which prevent them from receiving pensions. 

The Bank targets customers who’ll receive salaries from VakıfBank once they get out of their obligations to the system and the monthly installments will be deducted from the pensions. 

The loans are to be collateralized by either real estate or third party guarantee.

Maturity of the loan is up to 5 years with an interest rate between 1,25 and 1,55% per month.
Turkiye Vakıflar Bankasi T.A.O. General Assembly Approved the Following resolutions at its meeting dated 31.03.2006.
1. The Bank’s 2005 activities were assessed, the board of directors and auditors were discharged of financial statement and  income statement.
2. The distribution of dividend to the shareholders of VakıfBank, from net profit of 2005, to A group shareholders  171.730.772,46 TL, to B group shareholders 62.447.553,62 TL, to C group shareholders 64.633.218,00 TL, to D group shareholders 100.540.561,33 TL and totaly 399.352.105,42 TL were decided. Thereby gross 0,3122 TL (%31,22) and net 0,2810 TL (%28,10) will be distrubuted cash divided to 1 TL nominal value of equity.
3. In General Assembly, increasing of VakıfBank’s ceiling of registered capital to 5 billion TL, which was 1,3 billion TL, has been approved.
4. The dividend policy of the Bank for year 2006 and onwards was approved: “Provided that the capital adequacy ratio of the Bank is adequate with the Management targets, the Bank does not need additonal capital and there is no unfavorable expectations with the economic and financial environment, to pay dividend from the net profit after deducting tax losses carried forward, which is not eligible for distribution and after allocating teh reserve requirements by law, to be provisioned under Article 9 of the Banks Act and articles 84/A, 84/B and 84/C of the primary contact (articles association).”
5. Articles 7,8 and 11 of prime contract of the Bank has been changed. Amendments of the prime contract is attached.
6. Some of  articles of circular about employee rights has been changed.
7. In General Assembly, ethic principles of banking, which is set by the Turkish Bankers Assosiation, has been approved.
8. Yusuf Beyazıt, Bilal Karaman, A.Müfit Cengiz, M. Zeki Akıllıoğlu, Selahattin Toraman, Hasan Özer, Cem Demirağ, Ragıp Doğu and Erkan Topal were elected to the Board of Directors and Ahmet Tanyolaç and Faruk Eroğlu were elected to the Board of Auditors. Under the principles of corporate governors, M. Zeki Akıllıoğlu, Cem Demirağ and Erkan Topal would be independent members in the board of directors.
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