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Governance Structure

    “At VakıfBank, we draw on our deep-rooted legacy and strong sense of social responsibility to create lasting value for our stakeholders, our society, and the environment. By focusing on exports, investment, and production, we continue to support the balanced and sustainable growth of the Turkish economy. We believe that sustainability strengthens our financial and non-financial risk management approach; that managing Environmental, Social and Governance (ESG) risks provides a competitive advantage in the sector. As a bank that adapts swiftly to global change and transformation in the banking sector, responds quickly to evolving customer expectations and needs, and earns trust through its deep-rooted foundation culture, we conduct all our operations with a responsible banking approach. With our leading role in international markets, our innovative products and services, and our position as a trendsetter in the industry, we will continue to support the sustainable and resilient growth of the Turkish economy.”

    Chairman of the Board

    “At VakıfBank, we remain committed to our goal of maintaining an active and leading position in the Turkish banking sector through the steps we take and the initiatives we implement in the field of sustainable banking. At VakıfBank, we remain firmly committed to supporting the principles of the United Nations Global Compact—the world’s largest sustainability initiative. As a reflection of our commitment to placing sustainability at the core of our corporate strategy, we restructured our organizational framework in 2024 and established the Sustainable Banking Department. We’ve made responsible and sustainable banking the cornerstone of everything we do.  We became the first Turkish bank to have its science-based targets officially approved by the Science Based Targets initiative (SBTi).  Through the transactions we carried out, we remained the Turkish bank with the highest volume of sustainability-linked funding in 2024. As a reflection of the trust placed in our Bank, we will continue to secure long-term, cost-effective funding from international markets through our foreign financing transactions in the coming period. At VakıfBank, we place innovation and sustainability at the heart of our business. We leverage our financial strength not only to drive economic growth, but also to protect natural resources and help ensure a livable world for future generations.”

    General Manager

Purpose of the Committee

The Sustainability Committee is the highest decision-making body within the Bank responsible for defining the Bank’s sustainability strategy and policy, and for ensuring necessary actions are taken accordingly.

Committee Members

General Manager (Head of Committee)
One Independent Board Member appointed by the Board of Directors
All Executive Vice Presidents
Head of Sustainable Banking
Head of International Banking and Investor Relations
Head of Strategy and Planning
Head of Risk Management
Heads of Corporate Credit Allocation 1 and 2

The Committee convenes under the General Manager. In the General Manager's absence, the Executive Vice President responsible for Digital Banking, Customer Experience, and Corporate Communications chairs the meeting. 

Meeting Principles

  • Develop and integrate the Bank’s sustainability strategy and policies into core operations.
  • Define sustainability targets and develop action plans aligned with these goals, ensuring coordination and monitoring of all related activities to enhance sustainability performance of the Bank. 
  • Identify and prioritize climate-related and sustainability risks and opportunities, and manage risks that could reasonably impact the Bank’s financial position.
  • Assess environmental, social, and economic risks related to financed projects and other loans, and advise the Board of Directors accordingly.
  • Ensure the development of products and services aligned with sustainable development goals and the Bank’s sustainable finance framework.
  • Establish a Climate Transition Plan to mitigate risks from climate change, monitor its implementation, and revise it when necessary.
  • Define key performance indicators needed to meet the Bank’s climate and sustainability objectives.
  • Recommend organizational changes to effectively and efficiently manage sustainability activities of the Bank.
  • Oversee the preparation of the Bank’s sustainability reports and submit them for Board approval.
  • Monitor national and international regulations related to the management of climate and sustainability risks and opportunities, and inform the Board of Directors about necessary actions to be taken.
  • Provide input on sustainability- and social-themed funding the Bank may obtain from international markets.
  • Decide on partnerships and initiatives the Bank may join or support in the field of sustainability.
  • Coordinate efforts to equip the Bank, its subsidiaries, and affiliates with the necessary knowledge and skills to enhance sustainability awareness across the organization, and ensure sustainability is integrated into all business units and processes.
  • Finalize key issues discussed in the Sustainability Sub-Committee and submitted to the Committee for decision.

Meeting Time and Frequency 

The committee meets at least twice a year or as deemed necessary by the Secretariat. 


Secretariat

The Sustainable Banking Department acts as the Secretariat. Meeting agendas are set jointly by the members and the Secretariat.

Purpose of the Committee

To implement the Bank’s sustainability strategy as defined by the Sustainability Committee, execute decisions made by the Committee, and coordinate necessary actions across departments for effective execution.

Committee Members

Head of Sustainable Banking (Head of Committee)
Head of International Banking and Investor Relations
Head of Strategy and Planning
Head of Risk Management
Head of Corporate Credit Allocation 1
Head of Corporate Credit Allocation 2
Head of Commercial Credit Allocation 1
Head of Commercial Credit Allocation 2
Head of SME, Retail, and Personal Credit Allocation
Head of Assessment and Rating
Head of Corporate Banking Marketing
Head of Commercial Banking Marketing
Head of SME Banking Marketing
Head of Retail Banking Marketing
Head of Product Development, Cash Management, and Trade Finance
Head of Credit Policies and Process Implementation
Head of Personal Banking Marketing
Head of Digital Banking and Distribution Channels
Head of Corporate Communications
Head of Human Resources
Head of Corporate Development, Performance Management, and Academy
Head of General Accounting and Financial Affairs
Head of Support Services
Head of Subsidiaries and Affiliates

Membership changes may be made by the Sustainability Committee as needed.

Meeting Principles

  • Implement the decisions taken by the Sustainability Committee. 
  • Take necessary actions to execute the Bank’s sustainability strategy. 
  • Form specialized working groups from different functions and expertise areas when necessary.
  • Prioritize and evaluate issues related to sustainability and climate-related risks and opportunities; prepare preliminary assessments for matters that require the attention of the upper committee and, when necessary, escalate these items to the upper committee’s agenda.

The meeting procedures may be modified by the Sustainability Committee as deemed necessary.
 

Meeting Time and Frequency 

The Committee convenes at least twice a year and additionally at the discretion of the Committee Chair whenever deemed necessary. 


Secretariat 

The Sustainable Banking Department acts as the Secretariat. The meeting agenda is determined by the Sustainability Committee or the Secretariat.

Committees

For more information about our committees;

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