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Subsidiaries

The Bank operates through its domestic and foreign branches, 11 subsidiaries and 14 affiliates. (13 of its subsidiaries and affiliates are in the financial sector, 4 of them banking and 9 in other financial.); 12 of its subsidiaries and affiliates are outside the financial sector, 1 in energy, 1 in tourism, 1 in manufacturing and 9 in other commercial enterprises. 

Subsidiaries

VakıfBank International AG was established in 1999 with the objective of expanding its international operations and in line with its internationalization policies. The Company's share capital of EUR 100 million is 100% owned by VakıfBank.

Founded in 1988 to carry out all kinds of leasing transactions, Vakıf Finansal Kiralama AŞ's capital amounting to TRY 3.5 billion is owned by VakıfBank with a share of 62.12%.

Incorporated in 1998 to extend factoring services for all kinds of domestic and international commercial transactions, Vakıf Faktoring AŞ has a 92.10% stake in VakıfBank's capital of TRY 850 million.

Founded in 1991 as a publicly traded company, Vakıf Menkul Kıymet Yatırım Ortaklığı AŞ utilizes the savings of small and individual investors on the stock exchange and trades securities. VakıfBank holds a 33.77% stake in the Company's capital amounting to TRY 30 million.

Vakıf Gayrimenkul Yatırım Ortaklığı AŞ established as the first real estate investment trust under the leadership of VakıfBank with an issued capital of TRY 250 thousand. The Company was established to create and manage a portfolio of real estate and real estate-based capital market instruments and to make changes when necessary. VakıfBank holds a 53.77% stake in the Company's capital of TRY 3,450 million.

VakıfBank holds a 99.50% stake in the capital of Vakıf Yatırım Menkul Değerler AŞ amounting to TRY 2 billion, which was incorporated in 1996 to provide services to investors by engaging in capital market activities alongside brokerage activities, issuing capital market instruments, conducting stock exchange transactions as a member of the stock exchange, investment consultancy and portfolio management.

Taksim Otelcilik AŞ was established in 1966 to build or have built and operate touristic hotels, motels and facilities. VakıfBank holds a 68.57% stake in the Company's share capital of TRY 350 million.

The Company was incorporated in 1995 for the purpose of appraisal and valuation of all kinds of real estate properties. VakıfBank holds a 77.14% stake in the Company's capital of TRY 100 million.

The Company was founded under the leadership of VakıfBank to establish and operate facilities to generate electricity and heat energy. VakıfBank holds a 67.27% stake in the Company's capital of TRY 85 million.

VakıfBank has a 96.73% share in the 300 million TL capital of the Company, which operates in the activities of providing support services to companies through personnel recruitment, marketing, cultural publications, car rental and providing food and cafeteria services in corporate service buildings.

VakıfBank has a 100% stake in the capital of Vakıf Elektronik Para ve Ödeme Hizmetleri AŞ, which was established in November 2021 to operate in the field of electronic money and payment services, amounting to TRY 300 million.

Affiliates

Established in 1982 by the Cyprus Foundations Administration in the Turkish Republic of Northern Cyprus, the Bank was incorporated in 1989. VakıfBank has a 15% share in the capital of Kıbrıs Vakıflar Bankası Ltd. amounting to TRY 100 million.

Incorporated in 1950, the Bank offers long-term funding to medium and large-scale investment projects, engages in investment banking activities and provides corporate finance services. VakıfBank holds an 8.38% stake in the Bank's capital of TRY 2,800 million.

Providing settlement and custody services and investment banking activities, VakıfBank holds a 4.37% stake in the Bank's capital of TRY 600 million.

The company was established in 1991 to provide credit guarantees for all kinds of loans in favor of SMEs, farmers, tradesmen and craftsmen and self-employed persons and was incorporated by VakıfBank in 2009. VakıfBank holds a 1.49% stake in the company 's capital of TRY 513,1 million.

The Company was established in 1990 to engage in card payment systems, clearing, settlement and authorization operations. VakıfBank holds a 4.75% stake in the Company's share capital of TRY 177,5 million.

VakıfBank holds a 9.09% stake in the Company's capital of TRY 7,4 million, which was established in 1995 to enable the interchange of credit information.

The company was established within the scope of housing and asset finance within the framework of the provisions of the CMB and the relevant legislation, to operate in the acquisition and transfer of assets, the types and qualifications of which are determined by the CMB, the management of the assets taken over, the taking of assets as collateral, the issuance of capital market instruments against these assets and the performance of other activities deemed appropriate by the CMB. VakıfBank holds an 8.33% stake in the company 's capital of TRY 50 million.

Established in 2016 in order to enable SDIF, banks, other financial institutions and insurance companies providing credit insurance services to purchase and sell their receivables and other assets arising from their services, collect the receivables they have purchased, convert the assets into cash or restructure them. VakıfBank owns a 16% stake in the Company’s share capital of TL 75 million.

VakıfBank holds a 9.93% stake in the share capital of the Company amounting to TRY 10 billion which operates to manufacture, produce and sell all kinds of missiles, rockets, rocket launchers and rocket fuel and their engines.

VakıfBank holds a 0.07% stake in the Company's capital of TRY 30 million, which was established in 1995 to participate in agricultural, commercial, etc. enterprises.

VakıfBank has a 3% stake in the capital of TRY 50 million of Türkiye Ürün İhtisas Borsası AŞ, which was founded within the framework of Law No. 5300 and related legislation to carry out stock exchange activities in order to ensure the trade of electronic warehouse receipts created by licensed warehouse operators and futures contracts based on electronic warehouse receipts.

The company, which was established in 1998 to provide ATM maintenance-repair, field, security, software-certification, etc. services for Distribution Channels, became a partner in February 2020. VakıfBank holds a 33.33% stake in the Company's capital of TRY 340 million.

VakıfBank became a partner in the Company in January 2020, which is an international rating agency rating potential rating groups and corporate governance services applicable to Banks, Financial Institutions, Insurance Companies, Public Institutions, Corporate Industrial and Commercial Companies, SMEs, local governments, bonds, and structured finance issuances and projects. VakıfBank holds a 2.86% stake in the Company's capital of TRY 100 million.

Founded in 1993 in the Turkish Republic of Northern Cyprus, World Vakıf UBB Ltd. was established in the Turkish Republic of Northern Cyprus with a capital of USD 500,000 and VakıfBank has a share of USD 415,000 (83%) in the liquidated World Vakıf UBB Ltd. The company is in the process of liquidation.

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