Turkiye Vakiflar Bankasi TAO

Corporate Details

ISIN(s):

TREVKFB00035 (+749 more)

LEI:

789000KAIHOLSQKQ9858

Country:

Türkiye

Address:

Finanskent Mahallesi, Finans Caddesi No:40/1 Kat:34 Ümraniye/İstanbul, 34760 İSTANBUL

Website:

https://www.vakifbank.com.tr/English.aspx?pageID=977

Sector:

Financials

Industry:

Banks

Description

VakıfBank has incorporated under a special charter act (Law No. 6219) dated 11 th January 1954 and commenced its operations on the 13th of April 1954 with a capital of TL 50 million. At its inception, the Bank’s mission was to set as managing and utilizing the assets of foundations in the most efficient manner in line with the needs of the economic development, contributing to Turkey’s increasing savings rate based on a management and working understanding aligned with the requirements of modern banking. Also to preserve the deposits that is collected to put them in use towards the requirements of the economic development. VakıfBank’s IPO marks a turning point in the Bank’s corporate history. During the public offering of VakıfBank, new shares have been created through capital increase that were sold domestically and abroad, thus generating new funds worth USD 1.2 billion for the Turkish economy and for the Bank.