TÜRKİYE VAKIFLAR BANKASI T.A.O.

Annual / Quarterly Financial Statement • Aug 7, 2025

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AS AT JUNE 30, 2025 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

				Current Period June 30, 2025		Prior Period December 31, 2024
	ASSETS	Notes	TL	FC	Total	TL	FC	Total
I.	FINANCIAL ASSETS (Net)		712,501,528	786,402,042	1,498,903,570	854,432,758	688,420,609	1,542,853,367
1.1	Cash and cash equivalents	V-I-1	355,389,447	527,990,214	883,379,661	566,838,671	402,731,154	969,569,825
1.1.1	Cash and balances at Central Bank	V-I-1	351,162,267	442,976,512	794,138,779	436,903,262	331,592,662	768,495,924
1.1.2	Banks	V-I-3	366,694	85,341,163	85,707,857	277,797	71,489,842	71,767,639
1.1.3	Receivables from Money Markets		3,866,945	-	3,866,945	129,664,820	-	129,664,820
1.1.4	Allowance for expected credit losses (-)	V-I-16	6,459	327,461	333,920	7,208	351,350	358,558
1.2	Financial assets at fair value through profit or loss	V-I-2	7,224,675	1,388,278	8,612,953	1,513,122	1,098,050	2,611,172
1.2.1	Public debt securities		228,389	-	228,389	6,047	-	6,047
1.2.2	Equity instruments		289,119	1,388,278	1,677,397	300,178	1,098,050	1,398,228
1.2.3	Other financial assets		6,707,167	-	6,707,167	1,206,897	-	1,206,897
1.3	Financial assets at fair value through other
	comprehensive income	V-I-4	324,445,409	252,429,882	576,875,291	262,962,483	281,262,406	544,224,889
1.3.1	Public debt securities		324,096,585	245,108,783	569,205,368	261,058,218	276,131,108	537,189,326
1.3.2	Equity instruments		348,824	58,805	407,629	253,044	48,675	301,719
1.3.3	Other financial assets		-	7,262,294	7,262,294	1,651,221	5,082,623	6,733,844
1.4	Derivative financial assets		25,441,997	4,593,668	30,035,665	23,118,482	3,328,999	26,447,481
1.4.1	Derivative financial assets at fair value through profit or loss	V-I-2	25,441,997	4,593,668	30,035,665	23,118,482	3,328,999	26,447,481
1.4.2	Derivative financial assets at fair value through other
	comprehensive income	V-I-11	-	-	-	-	-	-
II.	FINANCIAL ASSETS MEASURED AT AMORTISED
	COST (Net)		1,933,976,660	1,061,166,662	2,995,143,322	1,633,962,923	775,014,947	2,408,977,870
2.1	Loans	V-I-5	1,553,071,253	963,214,518	2,516,285,771	1,293,519,702	745,737,955	2,039,257,657
2.2	Receivables from leasing transactions	V-I-10	12,065,511	14,785,403	26,850,914	13,716,351	10,758,937	24,475,288
2.3	Factoring receivables		28,921,174	3,015,854	31,937,028	27,560,321	4,961,620	32,521,941
2.4	Financial assets measured at amortised cost	V-I-6	406,749,991	98,627,765	505,377,756	352,246,247	30,350,848	382,597,095
2.4.1 2.4.2	Public debt securities Other financial assets		406,749,991 -	98,186,984 440,781	504,936,975 440,781	352,246,247 -	29,640,950 709,898	381,887,197 709,898
2.5	Allowance for expected credit losses (-)		66,831,269	18,476,878	85,308,147	53,079,698	16,794,413	69,874,111
III.	NON-CURRENTS ASSETS OR DISPOSAL GROUPS
	"HELD FOR SALE" AND "FROM DISCONTINUED
	OPERATIONS (Net)	V-I-14	2,777,103	-	2,777,103	1,076,195	-	1,076,195
3.1	Held for sale purpose		2,777,103	-	2,777,103	1,076,195	-	1,076,195
3.2	Related to discontinued operations		-	-	-	-	-	-
IV.	INVESTMENTS IN ASSOCIATES, SUBSIDIARIES
	AND JOINT VENTURES		12,448,874	3	12,448,877	11,230,607	3	11,230,610
4.1	Investments in associates (Net)	V-I-7	9,107,506	3	9,107,509	8,388,762	3	8,388,765
4.1.1	Associates accounted by using equity method		3,799,261	-	3,799,261	3,036,820	-	3,036,820
4.1.2	Unconsolidated associates		5,308,245	3	5,308,248	5,351,942	3	5,351,945
4.2	Investments in subsidiaries (Net)	V-I-8	3,341,368	-	3,341,368	2,841,845	-	2,841,845
4.2.1	Unconsolidated financial subsidiaries		-	-	-	-	-	-
4.2.2	Unconsolidated non-financial subsidiaries		3,341,368	-	3,341,368	2,841,845	-	2,841,845
4.3	Jointly Controlled Partnerships (Joint Ventures) (Net)	V-I-9	-	-	-	-	-	-
4.3.1	Jointly controlled partnerships accounted by using equity
	method		-	-	-	-	-	-
4.3.2	Unconsolidated jointly controlled partnerships		-	-	-	-	-	-
V.	PROPERTY AND EQUIPMENT (Net)		43,317,440	133,357	43,450,797	40,055,430	135,233	40,190,663
VI.	INTANGIBLE ASSETS AND GOODWILL (Net)		1,388,248	219,674	1,607,922	1,334,027	15,468	1,349,495
6.1	Goodwill		3,288	-	3,288	3,288	-	3,288
6.2	Other		1,384,960	219,674	1,604,634	1,330,739	15,468	1,346,207
VII.	INVESTMENT PROPERTIES (Net)	V-I-12	21,660,020	-	21,660,020	18,803,793	-	18,803,793
VIII.	CURRENT TAX ASSETS		2,194,898	-	2,194,898	884,331	-	884,331
IX.	DEFERRED TAX ASSETS	V-I-13	13,698,133	127,905	13,826,038	4,776,043	122,618	4,898,661
X.	OTHER ASSETS (Net)	V-I-15	60,542,712	10,377,810	70,920,522	55,629,009	7,681,487	63,310,496
	TOTAL ASSETS		2,804,505,616	1,858,427,453	4,662,933,069	2,622,185,116	1,471,390,365	4,093,575,481

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AS AT JUNE 30, 2025 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

				Current Period June 30, 2025		Prior Period December 31, 2024
	LIABILITIES AND EQUITY	Notes	TL	FC	Total	TL	FC	Total
I.	DEPOSITS	V-II-1	2,091,319,276	863,592,380	2,954,911,656	1,861,033,430	698,677,101	2,559,710,531
II.	BORROWINGS	V-II-3	67,936,078	359,664,246	427,600,324	54,499,820	241,653,371	296,153,191
III.	MONEY MARKET FUNDS		147,852,952	287,994,144	435,847,096	278,255,815	230,302,498	508,558,313
IV.	MARKETABLE SECURITIES ISSUED (Net)	V-II-3	1,482,575	244,350,374	245,832,949	5,784,837	207,916,445	213,701,282
4.1	Bills		1,482,575	978,479	2,461,054	5,784,837	6,085,568	11,870,405
4.2	Asset backed securities		-	-	-	-	-	-
4.3.	Bonds		-	243,371,895	243,371,895	-	201,830,877	201,830,877
V.	FUNDS		3,005	-	3,005	3,005	-	3,005
5.1	Borrower funds		-	-	-	-	-	-
5.2	Other		3,005	-	3,005	3,005	-	3,005
VI.	FINANCIAL LIABILITIES AT FAIR VALUE
	THROUGH PROFIT OR LOSS		-	-	-	-	-	-
VII.	DERIVATIVE FINANCIAL LIABILITIES		568,309	9,496,258	10,064,567	1,901,202	4,908,968	6,810,170
7.1	Derivative financial liabilities at fair value through profit
	or loss	V-II-2	568,309	9,496,258	10,064,567	1,901,202	4,908,968	6,810,170
7.2	Derivative financial liabilities at fair value through other
	comprehensive income	V-II-6	-	-	-	-	-	-
VIII.	FACTORING PAYABLES		-	10	10	368	8	376
IX.	LEASE PAYABLES (Net)	V-II-5	7,059,652	-	7,059,652	5,430,447	1,602	5,432,049
X.	PROVISIONS	V-II-7	18,233,176	616,671	18,849,847	27,840,818	608,023	28,448,841
10.1	Provision for restructuring		-	-	-	-	-	-
10.2	Reserves for employee benefits		11,660,575	38,624	11,699,199	10,785,006	24,842	10,809,848
10.3	Insurance technical reserves (Net)		-	-	-	-	-	-
10.4	Other provisions		6,572,601	578,047	7,150,648	17,055,812	583,181	17,638,993
XI.	CURRENT TAX LIABILITIES	V-II-8	27,371,251	25,225	27,396,476	10,980,772	33,558	11,014,330
XII.	DEFERRED TAX LIABILITIES	V-II-8	2,406,594	-	2,406,594	2,165,638	-	2,165,638
XIII.	LIABILITIES RELATED TO NON-CURRENT
	ASSETS "HELD FOR SALE" AND
	"DISCONTINUED OPERATIONS" (Net)	V-II-9	-	-	-	-	-	-
13.1	Held for sale		-	-	-	-	-	-
13.2	Related to discontinued operations		-	-	-	-	-	-
XIV.	SUBORDINATED DEBT	V-II-10	12,761,118	84,510,350	97,271,468	12,211,950	72,709,156	84,921,106
14.1	Loans		-	-	-	-	-	-
14.2	Other debt instruments		12,761,118	84,510,350	97,271,468	12,211,950	72,709,156	84,921,106
XV.	OTHER LIABILITIES	V-II-4	141,096,606	25,449,097	166,545,703	114,920,128	25,537,794	140,457,922
XVI.	SHAREHOLDERS` EQUITY	V-II-11	261,920,529	7,223,193	269,143,722	227,284,331	8,914,396	236,198,727
16.1	Paid-in capital	V-II-11	9,915,922	-	9,915,922	9,915,922	-	9,915,922
16.2	Capital reserves		46,054,407	-	46,054,407	46,120,305	-	46,120,305
16.2.1 16.2.2	Equity share premiums Share cancellation profits		45,601,562 -	- -	45,601,562 -	45,601,513 -	- -	45,601,513 -
16.2.3	Other capital reserves		452,845	-	452,845	518,792	-	518,792
16.3	Other accumulated comprehensive income that will not be
	reclassified in profit or loss		21,778,313	-	21,778,313	21,373,077	-	21,373,077
16.4	Other accumulated comprehensive income that will be
	reclassified in profit or loss		(6,708,817)	6,629,272	(79,545)	(5,282,410)	8,166,615	2,884,205
16.5	Profit reserves		132,285,072	46,684	132,331,756	89,407,456	46,684	89,454,140
16.5.1	Legal reserves		13,979,755	46,684	14,026,439	9,623,799	46,684	9,670,483
16.5.2	Statutory reserves		6,337	-	6,337	6,337	-	6,337
16.5.3	Extraordinary reserves		116,535,865	-	116,535,865	78,033,601	-	78,033,601
16.5.4	Other profit reserves		1,763,115	-	1,763,115	1,743,719	-	1,743,719
16.6	Profit or loss		46,858,323	547,237	47,405,560	55,653,066	701,097	56,354,163
16.6.1	Prior years' profits or losses		12,709,422	209,391	12,918,813	6,595,570	565,749	7,161,319
16.6.2	Current period net profit or loss		34,148,901	337,846	34,486,747	49,057,496	135,348	49,192,844
16.7	Minority interests		11,737,309	-	11,737,309	10,096,915	-	10,096,915
	TOTAL LIABILITIES AND EQUITY		2,780,011,121	1,882,921,948	4,662,933,069	2,602,312,561	1,491,262,920	4,093,575,481

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED OFF-BALANCE SHEET ITEMS AS AT JUNE 30, 2025

(Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

				Current Period June 30, 2025	Prior Period December 31, 2024
		Notes	TL	FC	Total	TL	FC	Total
A.	OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES
	(I+II+III)		1,884,795,481	2,198,684,905	4,083,480,386	1,394,597,011	1,775,084,875	3,169,681,886
I. 1.1.	GUARANTEES AND SURETIES Letters of guarantee	V-III-2 V-III-1	388,714,243 384,416,874	369,315,090 251,677,407	758,029,333 636,094,281	353,636,576 349,306,327	333,012,897 210,557,012	686,649,473 559,863,339
1.1.1.	Guarantees subject to state tender law		8,252,866	-	8,252,866	7,534,694	-	7,534,694
1.1.2.	Guarantees given for foreign trade operations		23,753,797	130,936,964	154,690,761	21,073,866	113,852,683	134,926,549
1.1.3.	Other letters of guarantee		352,410,211	120,740,443	473,150,654	320,697,767	96,704,329	417,402,096
1.2. 1.2.1.	Bank acceptances Import letter of acceptance		4,258 -	9,186,611 2,033,505	9,190,869 2,033,505	4,258 -	6,963,856 1,730,604	6,968,114 1,730,604
1.2.2.	Other bank acceptances	V-III-4	4,258	7,153,106	7,157,364	4,258	5,233,252	5,237,510
1.3.	Letters of credit	V-III-4	148,857	98,890,483	99,039,340	187,484	107,498,532	107,686,016
1.3.1.	Documentary letters of credit		148,857	98,890,483	99,039,340	187,484	107,498,532	107,686,016
1.3.2. 1.4.	Other letters of credit Pre-financings given as guarantee		- -	- 31,649	- 31,649	- -	- 28,122	- 28,122
1.5.	Endorsements		-	-	-	-	-	-
1.5.1.	Endorsements to the Central Bank of the Republic of Türkiye		-	-	-	-	-	-
1.5.2.	Other endorsements		-	-	-	-	-	-
1.6. 1.7.	Purchase guarantees for securities issued Factoring guarantees		- 3,941,725	- 5,782,117	- 9,723,842	- 3,234,386	- 4,838,895	- 8,073,281
1.8.	Other guarantees		202,529	715,166	917,695	204,121	556,188	760,309
1.9.	Other warrantees		-	3,031,657	3,031,657	700,000	2,570,292	3,270,292
II.	COMMITMENTS		1,391,032,881	656,501,618	2,047,534,499	899,051,857	429,351,840	1,328,403,697
2.1.	Irrevocable commitments	V-III-1	1,350,079,062	323,020,783	1,673,099,845	858,003,176	180,938,951	1,038,942,127
2.1.1. 2.1.2.	Asset purchase and sales commitments Deposit purchase and sales commitments	V-III-1	143,753,693 -	315,563,635 -	459,317,328 -	53,876,600 -	175,132,731 -	229,009,331 -
2.1.3.	Share capital commitments to associates and subsidiaries		-	-	-	-	-	-
2.1.4.	Loan granting commitments	V-III-1	372,028,554	1,173,681	373,202,235	296,760,473	279,906	297,040,379
2.1.5.	Securities issuance brokerage commitments		-	-	-	-	-	-
2.1.6. 2.1.7.	Commitments for reserve deposit requirements Commitments for check payments	V-III-1	- 19,839,451	- -	- 19,839,451	- 14,787,396	- -	- 14,787,396
2.1.8.	Tax and fund liabilities from export commitments		-	-	-	-	-	-
2.1.9.	Commitments for credit card expenditure limits	V-III-1	775,307,722	-	775,307,722	458,300,096	-	458,300,096
2.1.10.	Commitments for credit cards and banking services promotions		762,532	-	762,532	3,455,059	-	3,455,059
2.1.11.	Receivables from short sale commitments on marketable securities		-	-	-	-	-	-
2.1.12. 2.1.13.	Payables for short sale commitments on marketable securities Other irrevocable commitments		- 38,387,110	- 6,283,467	- 44,670,577	- 30,823,552	- 5,526,314	- 36,349,866
2.2.	Revocable commitments		40,953,819	333,480,835	374,434,654	41,048,681	248,412,889	289,461,570
2.2.1.	Revocable loan granting commitments		40,953,819	333,480,835	374,434,654	41,048,681	248,412,889	289,461,570
2.2.2.	Other revocable commitments		-	-	-	-	-	-
III. 3.1.	DERIVATIVE FINANCIAL INSTRUMENTS Derivative financial instruments held for hedging		105,048,357 -	1,172,868,197 -	1,277,916,554 -	141,908,578 -	1,012,720,138 -	1,154,628,716 -
3.1.1.	Fair value hedges		-	-	-	-	-	-
3.1.2.	Cash flow hedges		-	-	-	-	-	-
3.1.3.	Hedging for investments made in foreign countries		-	-	-	-	-	-
3.2. 3.2.1.	Trading transactions Forward foreign currency purchase and sale transactions		105,048,357 18,415,524	1,172,868,197 36,976,508	1,277,916,554 55,392,032	141,908,578 54,500,915	1,012,720,138 56,200,803	1,154,628,716 110,701,718
3.2.1.1.	Forward foreign currency purchase transactions		9,233,864	18,493,702	27,727,566	27,309,819	28,108,306	55,418,125
3.2.1.2.	Forward foreign currency sales		9,181,660	18,482,806	27,664,466	27,191,096	28,092,497	55,283,593
3.2.2.	Currency and interest rate swaps		71,514,194	767,753,550	839,267,744	81,503,023	662,116,720	743,619,743
3.2.2.1. 3.2.2.2.	Currency swap purchase transactions Currency swap sale transactions		20,276,507 49,847,687	208,522,293 310,647,869	228,798,800 360,495,556	41,682,349 38,390,674	190,068,463 233,274,669	231,750,812 271,665,343
3.2.2.3.	Interest rate swap purchase transactions		695,000	124,291,694	124,986,694	715,000	119,386,794	120,101,794
3.2.2.4.	Interest rate swap sale transactions		695,000	124,291,694	124,986,694	715,000	119,386,794	120,101,794
3.2.3.	Currency, interest rate and security options		14,090,185	14,530,118	28,620,303	4,876,186	6,355,836	11,232,022
3.2.3.1	Currency purchase options		4,168,178	9,969,064	14,137,242	4,162,656	1,566,034	5,728,690
3.2.3.2 3.2.3.3	Currency sale options Interest rate purchase options		9,922,007 -	4,561,054 -	14,483,061 -	713,530 -	4,789,802 -	5,503,332 -
3.2.3.4	Interest rate sale options		-	-	-	-	-	-
3.2.3.5	Security purchase options		-	-	-	-	-	-
3.2.3.6	Security sale options		-	-	-	-	-	-
3.2.4. 3.2.4.1.	Currency futures Currency purchase futures		- -	- -	- -	- -	- -	- -
3.2.4.2.	Currency sales futures		-	-	-	-	-	-
3.2.5.	Interest rate futures		-	-	-	-	-	-
3.2.5.1.	Interest rate purchases futures		-	-	-	-	-	-
3.2.5.2. 3.2.6.	Interest rate sales futures Other		- 1,028,454	- 353,608,021	- 354,636,475	- 1,028,454	- 288,046,779	- 289,075,233
B.	CUSTODY AND PLEDGED ITEMS (IV+V+VI)		46,788,992,020	39,306,956,945	86,095,948,965	39,712,831,240	29,360,361,286	69,073,192,526
IV.	ITEMS HELD IN CUSTODY		491,679,355	410,907,384	902,586,739	455,709,983	291,075,144	746,785,127
4.1.	Customer fund and portfolio balances		18,680,672	-	18,680,672	17,397,844	-	17,397,844
4.2. 4.3.	Securities held in custody Checks received for collection		117,165,706 125,833,475	206,064,424 15,593,040	323,230,130 141,426,515	148,688,118 121,410,786	144,902,368 4,650,966	293,590,486 126,061,752
4.4.	Commercial notes received for collection		94,651,048	19,493,043	114,144,091	73,092,148	17,325,045	90,417,193
4.5.	Other assets received for collection		2,152	1,592	3,744	2,152	1,414	3,566
4.6.	Securities received for public offering		-	-	-	-	-	-
4.7.	Other items under custody		877,728	148,781,235	149,658,963	901,574	106,209,613	107,111,187
4.8. V.	Custodians PLEDGED ITEMS		134,468,574 6,724,650,872	20,974,050 1,899,005,445	155,442,624 8,623,656,317	94,217,361 5,305,516,594	17,985,738 1,536,545,807	112,203,099 6,842,062,401
5.1.	Marketable securities		3,027,531	2,619,710	5,647,241	505,505	2,881,224	3,386,729
5.2.	Guarantee notes		36,042,229	17,161,286	53,203,515	32,367,671	14,727,029	47,094,700
5.3.	Commodity		529,441,779	50,988,257	580,430,036	454,804,823	37,092,119	491,896,942
5.4. 5.5.	Warrant Immovables		- 5,491,606,223	- 1,564,569,658	- 7,056,175,881	- 4,260,887,706	- 1,256,874,005	- 5,517,761,711
5.6.	Other pledged items		664,167,245	263,554,251	927,721,496	556,585,004	224,858,827	781,443,831
5.7.	Depositories receiving pledged items		365,865	112,283	478,148	365,885	112,603	478,488
VI.	ACCEPTED GUARANTEES AND WARRANTEES		39,572,661,793	36,997,044,116	76,569,705,909	33,951,604,663	27,532,740,335	61,484,344,998
	TOTAL OFF-BALANCE SHEET COMMITMENTS (A+B)		48,673,787,501	41,505,641,850	90,179,429,351	41,107,428,251	31,135,446,161	72,242,874,412

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2025 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

	INCOME AND EXPENSE ITEMS	Notes	Current Period January 1, 2025- June 30, 2025	Current Period April 1, 2025- June 30, 2025	Prior Period January 1, 2024- June 30, 2024	Prior Period April 1, 2024- June 30, 2024
I.	INTEREST INCOME	V-IV-1	473,550,707	247,335,751	311,187,989	170,085,769
1.1	Interest on loans	V-IV-1	307,677,105	160,214,965	213,904,702	115,110,754
1.2	Interest received from reserve deposits		43,756,009	23,696,920	12,746,897	9,054,950
1.3	Interest received from banks	V-IV-1	794,423	366,414	881,056	466,396
1.4	Interest received from money market transactions		9,390,831	1,422,384	8,463,518	4,912,013
1.5	Interest received from marketable securities portfolio	V-IV-1	107,321,394	59,211,739	71,250,013	38,517,655
1.5.1	Financial assets at fair value through profit or loss		32,498	29,169	210,969	61,475
1.5.2	Financial assets at fair value through other comprehensive income		63,226,983	34,020,946	31,678,255	18,032,602
1.5.3	Financial assets measured at amortised cost		44,061,913	25,161,624	39,360,789	20,423,578
1.6	Finance lease interest income		2,856,009	1,406,713	3,365,682	1,777,215
1.7	Other interest income		1,754,936	1,016,616	576,121	246,786
II.	INTEREST EXPENSES (-)	V-IV-2	420,020,536	217,014,079	270,968,337	149,262,242
2.1	Interest on deposits	V-IV-2	349,552,832	178,095,816	240,338,048	132,283,057
2.2	Interest on funds borrowed	V-IV-2	13,104,790	6,803,657	11,734,024	6,210,257
2.3	Interest on money market transactions		44,155,439	25,382,830	9,871,937	6,112,023
2.4	Interest on securities issued	V-IV-2	12,460,382	6,372,132	7,361,880	3,862,211
2.5	Leasing interest income		542,380	295,937	321,656	181,025
2.6	Other interest expenses		204,713	63,707	1,340,792	613,669
III.	NET INTEREST INCOME/EXPENSE (I - II)		53,530,171	30,321,672	40,219,652	20,823,527
IV.	NET FEES AND COMMISSIONS INCOME/EXPENSES		32,351,719	17,157,816	20,334,410	10,166,598
4.1	Fees and commissions received		45,196,169	24,293,646	28,668,480	15,006,890
4.1.1	Non-cash loans		3,211,105	1,712,060	2,519,191	1,325,281
4.1.2	Other		41,985,064	22,581,586	26,149,289	13,681,609
4.2	Fees and commissions paid (-)		12,844,450	7,135,830	8,334,070	4,840,292
4.2.1	Non-cash loans		23,242	13,333	63,052	29,887
4.2.2	Other		12,821,208	7,122,497	8,271,018	4,810,405
V.	DIVIDEND INCOME		252,020	250,108	121,821	120,331
VI.	TRADING PROFIT/LOSS (Net)	V-IV-3	10,652,600	4,421,372	(10,487,267)	(7,053,284)
6.1	Profit/losses from capital market transactions	V-IV-3	4,936,974	4,471,355	2,194,089	878,819
6.2	Profit/losses from derivative financial transactions	V-IV-3	(1,053,476)	(3,227,154)	(20,992,850)	(10,570,318)
6.3	Foreign exchange profit/losses	V-IV-3	6,769,102	3,177,171	8,311,494	2,638,215
VII. VIII.	OTHER OPERATING INCOME GROSS PROFIT FROM OPERATING ACTIVITIES	V-IV-4	49,491,303	15,286,629	42,365,332	17,764,841
	(III+IV+V+VI+VII)		146,277,813	67,437,597	92,553,948	41,822,013
IX.	ALLOWANCES FOR EXPECTED CREDIT LOSSES (-)	V-IV-5	47,959,686	19,273,002	24,696,114	7,026,402
X.	OTHER PROVISION EXPENSES (-)	V-IV-5	346,885	198,697	1,534,585	1,376,761
XI.	PERSONNEL EXPENSES (-)		21,411,223	11,877,172	13,179,364	7,268,939
XII.	OTHER OPERATING EXPENSES (-)	V-IV-6	32,446,259	16,995,526	21,675,525	11,830,776
XIII.	NET OPERATING PROFIT/LOSS (VIII-IX-X-XI-XII)		44,113,760	19,093,200	31,468,360	14,319,135
XIV.	SURPLUS WRITTEN AS GAIN AFTER MERGER		-	-	-	-
XV.	PROFIT/LOSS FROM EQUITY METHOD APPLIED
	SUBSIDIARIES		599,691	316,162	394,372	218,004
XVI.	NET MONETORY POSITION GAIN/LOSS		-	-	-	-
XVII.	PROFIT/LOSS BEFORE TAXES FROM CONTINUING OPERATIONS (XIII++XVI)	V-IV-7	44,713,451	19,409,362	31,862,732	14,537,139
XVIII.	PROVISION FOR TAXES ON INCOME FROM CONTINUING OPERATIONS (±)	V-IV-8	(8,577,407)	(5,253,098)	(5,033,791)	(1,025,285)
18.1	Current tax provision	V-IV-10	(15,228,926)	(11,886,082)	(9,743,477)	(7,388,324)
18.2	Expense effect of deferred tax (+)	V-IV-10	(13,930,145)	(5,182,204)	(3,999,575)	(2,099,768)
18.3	Income effect of deferred tax (-)	V-IV-10	20,581,664	11,815,188	8,709,261	8,462,807
XIX.	NET PROFIT/LOSS FROM CONTINUING OPERATIONS
XX.	(XVII±XVIII) INCOME FROM DISCONTINUED OPERATIONS	V-IV-9	36,136,044 -	14,156,264 -	26,828,941 -	13,511,854 -
20.1	Income from assets held for sale		-	-	-	-
20.2	Profit from sale of associates, subsidiaries and joint ventures		-	-	-	-
20.3 XXI.	Other income from discontinued operations EXPENSES FROM DISCONTINUED OPERATIONS (-)		- -	- -	- -	- -
21.1	Expenses on assets held for sale		-	-	-	-
21.2	Losses from sale of associates, subsidiaries and joint ventures		-	-	-	-
21.3	Other expenses from discontinued operations		-	-	-	-
XXII.	PROFIT/LOSS BEFORE TAXES FROM DISCONTINUED OPERATIONS (XX-XXI)		-	-	-	-
XXIII.	TAX PROVISION FOR DISCONTINUED OPERATIONS (±)		-	-	-	-
23.1	Current tax provision		-	-	-	-
23.2	Expense effect of deferred tax (+)		-	-	-	-
23.3	Income effect of deferred tax (-)		-	-	-	-
XXIV.	NET PROFIT/LOSS FROM DISCONTINUED OPERATIONS (XXII±XXIII)		-	-	-	-
XXV.	NET PROFIT/LOSSES (XIX+XXIV)	V-IV-11	36,136,044	14,156,264	26,828,941	13,511,854
25.1	Group's profit/(loss)		34,486,747	12,741,706	24,266,438	11,094,210
25.2	Profit /(Loss) from Minority shares (-)		1,649,297	1,414,558	2,562,503	2,417,644
	Profit/Loss per 100 shares (full TL)	III-XXIV	3.6442	1.4200	2.7056	1.3626

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME AS OF THE SIX-MONTH PERIOD ENDED JUNE 30, 2025

(Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

	PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME	Current Period January 1, 2025- June 30, 2025	Prior Period January 1, 2024- June 30, 2024
I. II.	PROFIT (LOSS) OTHER COMPREHENSIVE INCOME	36,136,044 (2,548,758)	26,828,941 (982,501)
2.1.	Other comprehensive income that will not be reclassified to profit or loss	414,992	368,906
2.1.1.	Gains (Losses) on Revaluation of Property, Plant and Equipment	34,310	15,405
2.1.2.	Gains (losses) on revaluation of Intangible Assets	-	-
2.1.3.	Gains (losses) on remeasurements of defined benefit plans	6,691	(7,661)
2.1.4.	Other Components of Other Comprehensive Income That Will Not Be Reclassified to Profit or Loss	(6,502)	(7,184)
2.1.5.	Taxes Relating to Components of Other Comprehensive Income That Will Not Be Reclassified to Profit or Loss	380,493	368,346
2.2.	Other Comprehensive Income That Will Be Reclassified to Profit or Loss	(2,963,750)	(1,351,407)
2.2.1.	Exchange Differences on Translation	1,177,478	105,349
2.2.2.	Valuation and/or Reclassification Profit or Loss from financial assets at fair value through other comprehensive income	(5,470,197)	(2,922,351)
2.2.3.	Income (Loss) Related with Cash Flow Hedges	-	-
2.2.4.	Income (Loss) Related with Hedges of Net Investments in Foreign Operations	(544,948)	494,426
2.2.5.	Other Components of Other Comprehensive Income that will be Reclassified to Other Profit or Loss	-	-
2.2.6.	Taxes Relating to Components of Other Comprehensive Income That Will Be Reclassified to Profit or Loss	1,873,917	971,169
III.	TOTAL COMPREHENSIVE INCOME (I+II)	33,587,286	25,846,440

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY AS OF THE SIX-MONTH PERIOD ENDED JUNE 30, 2025

(Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY								Accumulated Other Comprehensive Income or Expense Not Reclassified through Profit or Loss		Accumulated Other Comprehensive Income or Expense Reclassified through Profit or Loss
		Notes	Paid in Capital	Share Premium	Share Cancellation Profits	Other Capital Reserves	1	2	3	4	5	6	Profit Reserves	Prior Period Profit or (Loss)	Current Period Profit or (Loss)	Total SE Except minority share	Minority interest	Total Shareholders' Equity
	Current Period June 30, 2025
I.	Prior Period End
	Balance			9,915,922 45,601,513	-	518,792	17,464,708	(2,616,757)	6,525,126	2,915,620	181,260	(212,675)	89,454,140	56,354,163	-	226,101,812	10,096,915	236,198,727
II.	Corrections and
	Accounting Policy
	Changes Made
	According to TAS 8		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2.1.	Effects of Corrections		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Effects of the Changes in
2.2.	Accounting Policies		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
III.	Adjusted Beginning
	Balance (I+II)			9,915,922 45,601,513	-	518,792	17,464,708	(2,616,757)	6,525,126	2,915,620	181,260	(212,675)	89,454,140	56,354,163	-	226,101,812	10,096,915	236,198,727
IV.	Total Comprehensive
	Income		-	-	-	-	407,721	4,412	(6,897)	1,177,478	(3,823,567)	(317,661)	-	-	34,486,747	31,928,233	1,659,053	33,587,286
V.	Capital Increase by
	Cash		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
VI.	Capital Increase by
	Internal Resources		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
VII.	Paid-in capital inflation
	adjustment difference		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
VIII.	Convertible Bonds		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
IX.	Subordinated Debt
	Instruments		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
X.	Increase/Decrease by
	Other Changes		-	49	-	(66,777)	-	-	-	-	-	-	(392,129)	(164,775)	-	(623,632)	(18,571)	(642,203)
XI.	Profit Distribution		-	-	-	830	-	-	-	-	-	-	43,269,745	(43,270,575)	-	-	(88)	(88)
11.1.	Dividends paid		-	-	-	-	-	-	-	-	-	-	-	-	-	-	(88)	(88)
11.2.	Transfers to Reserves		-	-	-	-	-	-	-	-	-	-	43,160,035	(43,160,035)	-	-	-	-
11.3.	Other		-	-	-	830	-	-	-	-	-	-	109,710	(110,540)	-	-	-	-
	Ending Balance			9,915,922 45,601,562	-	452,845	17,872,429	(2,612,345)	6,518,229	4,093,098	(3,642,307)		(530,336) 132,331,756	12,918,813	34,486,747	257,406,413	11,737,309	269,143,722

1. Property & Equipment Revaluation Increase/Decrease

2. Defined Benefit Pension Plan Remeasurement Gain/Loss

3. Other (Accumulated Amount of the Shares Stated as Other Comprehensive Income Not Reclassified Through Profit or Loss and Components Not Reclassified as Other Profit or Loss of the Investments Valued by Equity Method)

4. Translation Differences from Foreign Currency Transactions

5. Accumulated Revaluation and/or Remeasurement Gain/Loss of the Financial Assets at Fair Value Through Other Comprehensive Income

6. Other (Cash Flow Hedge Income/Loss, Accumulated Amount of the Shares Stated as Other Comprehensive Income Reclassified Through Profit or Loss and Components Reclassified as Other Profit or Loss of the Investments Valued by Equity Method.

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY AS OF THE SIX-MONTH PERIOD ENDED JUNE 30, 2025 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY Accumulated Other Comprehensive Income or Expense Not Reclassified through Profit or Loss Accumulated Other Comprehensive Income or Expense Reclassified through Profit or Loss Notes Paid in Capital Share Premium Share Cancellation Profits Other Capital Reserves 1 2 3 4 5 6 Profit Reserves Prior Period Profit or (Loss) Current Period Profit or (Loss) Total SE Except minority share Minority interest Total Shareholders' Equity Prior Period June 30, 2024 I. Prior Period End Balance 9,915,922 45,589,989 - (427,009) 11,966,716 (1,955,463) 5,220,355 2,644,546 5,671,208 (675,052) 62,087,804 35,229,085 - 175,268,101 5,607,597 180,875,698 II. Corrections and Accounting Policy Changes Made According to TAS 8 - - - - - - - - - - - - - - - - 2.1. Effects of Corrections - - - - - - - - - - - - - - - - 2.2. Effects of the Changes in Accounting Policies - - - - - - - - - - - - - - - - III. Adjusted Beginning Balance (I+II) 9,915,922 45,589,989 - (427,009) 11,966,716 (1,955,463) 5,220,355 2,644,546 5,671,208 (675,052) 62,087,804 35,229,085 - 175,268,101 5,607,597 180,875,698 IV. Total Comprehensive Income - - - - 369,632 (5,885) (4,878) 105,349 (2,005,370) 548,614 - - 24,266,438 23,273,900 2,572,540 25,846,440 V. Capital Increase by Cash - - - - - - - - - - - - - - - - VI. Capital Increase by Internal Resources - - - - - - - - - - - - - - - - VII. Paid-in capital inflation adjustment difference - - - - - - - - - - - - - - - - VIII. Convertible Bonds - - - - - - - - - - - - - - - - IX. Subordinated Debt Instruments - - - - - - - - - - - - - - - - X. Increase/Decrease by Other Changes - 11,524 - 42,784 - - - - - - (425,918) (384,222) - (755,832) 275,805 (480,027) XI. Profit Distribution - - - 8,359 - - - - - - 27,894,065 (27,862,127) - 40,297 (4,017) 36,280 11.1. Dividends paid - - - - - - - - - - - - - - (71) (71) 11.2. Transfers to Reserves - - - - - - - - - - 27,810,542 (27,791,974) - 18,568 (3,946) 14,622 11.3. Other - - - 8,359 - - - - - - 83,523 (70,153) - 21,729 - 21,729 Ending Balance 9,915,922 45,601,513 - (375,866) 12,336,348 (1,961,348) 5,215,477 2,749,895 3,665,838 (126,438) 89,555,951 6,982,736 24,266,438 197,826,466 8,451,925 206,278,391

1. Property & Equipment Revaluation Increase/Decrease

2. Defined Benefit Pension Plan Remeasurement Gain/Loss

3. Other (Accumulated Amount of the Shares Stated as Other Comprehensive Income Not Reclassified Through Profit or Loss and Components Not Reclassified as Other Profit or Loss of the Investments Valued by Equity Method)

4. Translation Differences from Foreign Currency Transactions

5. Accumulated Revaluation and/or Remeasurement Gain/Loss of the Financial Assets at Fair Value Through Other Comprehensive Income

6. Other (Cash Flow Hedge Income/Loss, Accumulated Amount of the Shares Stated as Other Comprehensive Income Reclassified Through Profit or Loss and Components Reclassified as Other Profit or Loss of the Investments Valued by Equity Method.

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED FINANCIAL REPORT AS AT JUNE 30, 2025 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

		Notes	Current Period June 30, 2025	Prior Period June 30, 2024
A.	CASH FLOWS FROM BANKING OPERATIONS
1.1	Operating profit before changes in operating assets and liabilities		104,338,959	16,875,972
1.1.1	Interest received		441,444,533	279,841,201
1.1.2	Interest paid		(418,730,154)	(269,369,896)
1.1.3	Dividends received		252,020	121,821
1.1.4	Fee and commissions received		31,275,060	19,495,655
1.1.5	Other income		49,425,921	12,643,753
1.1.6	Collections from previously written off loans and other receivables		9,181,827	3,134,870
1.1.7	Cash payments to personnel and service suppliers		(23,652,243)	(14,534,877)
1.1.8	Taxes paid		(7,650,857)	(3,845,689)
1.1.9	Other		22,792,852	(10,610,866)
1.2	Changes in operating assets and liabilities subject to banking operations		(262,248,182)	55,422,793
1.2.1	Net (Increase) Decrease in Financial Assets at Fair Value through Profit or Loss		(5,722,439)	29,145,823
1.2.2	Net increase (decrease) in due from banks		(91,855,663)	(56,321,286)
1.2.3	Net increase (decrease) in loans		(484,250,730)	(145,689,714)
1.2.4	Net increase (decrease) in other assets		(132,104,478)	(71,461,310)
1.2.5	Net increase (decrease) in bank deposits		67,815,787	(7,154,930)
1.2.6	Net increase (decrease) in other deposits		330,565,444	163,321,230
1.2.7	Net increase (decrease) in financial liabilities at fair value through profit or loss		-	-
1.2.8	Net increase (decrease) in funds borrowed		116,496,204	34,181,764
1.2.9	Net increase (decrease) in matured payables		-	-
1.2.10	Net increase (decrease) in other liabilities		(63,192,307)	109,401,216
I.	Net cash flow provided from banking operations		(157,909,223)	72,298,765
B.	CASH FLOWS FROM INVESTING ACTIVITIES
II.	Net cash provided from investing activities		(74,096,023)	(24,883,151)
2.1	Cash paid for the purchase of associates, subsidiaries and joint ventures		(493,545)	-
2.2	Cash obtained from the sale of associates, subsidiaries and joint ventures		25,395	-
2.3	Cash paid for the purchase of tangible and intangible asset		(8,387,911)	(4,622,028)
2.4	Cash obtained from the sale of tangible and intangible asset		1,132,547	703,758
2.5	Cash paid for the purchase of financial assets at fair value through other comprehensive income		(55,764,217)	(67,990,230)
2.6	Cash obtained from the sale of financial assets at fair value through other comprehensive income		79,521,491	18,102,340
2.7	Cash paid for the purchase of financial assets at amortized cost		(96,756,654)	(1,298,353)
2.8	Cash obtained from sale of financial assets at amortized cost		6,987,149	30,468,235
2.9	Other		(360,278)	(246,873)
C.	CASH FLOWS FROM FINANCING ACTIVITIES
III.	Net cash flows from financing activities		43,785,407	40,672,285
3.1	Cash obtained from funds borrowed and securities issued		53,352,807	47,644,459
3.2	Cash outflow from funds borrowed and securities issued		(8,231,492)	(6,208,624)
3.3	Equity instruments issued		-	-
3.4	Dividends paid		-	-
3.5	Payments for finance lease liabilities		(1,335,908)	(763,550)
3.6	Other		-	-
IV.	Effect of change in foreign exchange rate on cash and cash equivalents		2,285,751	(535,262)
V.	Net increase/decrease in cash and cash equivalents		(185,934,088)	87,552,637
VI.	Cash and cash equivalents at beginning of the period		705,025,225	336,682,989
VII.	Cash and cash equivalents at end of the period		519,091,137	424,235,626