Ownership Structure

VakıfBank was first established with an initial capital of TL 50 million on the January 11, 1954 and later started operating on the April 13, 1954.

Following the public offering in 2005, 74.76% share of the General Directorate of Foundations in the Bank decreased to 58.45% and 24.89% share of the VakıfBank Pension Fund decreased to 16.10% and the publicly traded shares constituted 25.18% of the Bank’s capital.

As of December 11, 2019, 43.00% shares and 15.51% shares of General Directorate of Foundations representing Group (A) and Group (B), respectively (58.51% in total, 0.06% of which was other registered foundations) have been transferred to the Ministry of Treasury and Finance as per the Presidential Decree dated December 3, 2019.

As of May 20, 2020, the capital increase process of VakıfBank was completed with the sale of newly issued shares to Türkiye Wealth Fund through private placement and without being offered to the public with a total sales proceeds amounting TL 7,000,000,000.

As of March 9, 2022, the capital increase process of VakıfBank was completed with the sale of newly issued shares to Türkiye Wealth Fund through private placement and without being offered to the public with a total sales proceeds amounting TL 13,400,000,000.

As of March 29, 2023, the capital increase process of VakıfBank was completed with the sale of newly issued shares to Türkiye Wealth Fund through private placement and without being offered to the public with a total sales proceeds amounting TL 32,000,000,000.

The share capital of VakıfBank was TL 9,915,921,523 consisting of an equivalent number of shares, each share having a nominal value of TL 1.00. Shareholders use their voting rights in the General Assembly in proportion to the total nominal value of their shares. Pursuant to Article 434/2 of the Turkish Commercial Code, each shareholder has at least one voting right even if they own only one share. Regarding voting by proxy, the regulations of the Capital Markets Board are complied with.

Current ownership structure of VakıfBank is stated below: