TÜRKİYE VAKIFLAR BANKASI T.A.O.

Annual / Quarterly Financial Statement • Aug 8, 2024

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIĞI

UNCONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AS OF JUNE 30, 2024

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

				Current Period June 30, 2024	Prior Period December 31, 2023
	ASSETS	Notes	TL	FC	Total	TL	FC	Total
I.	FINANCIAL ASSETS (Net)		485,069,862	612,973,610	1,098,043,472	378,873,910	483,722,105	862,596,015
1.1	Cash and cash equivalents	V-I-1	291,323,052	369,535,815	660,858,867	237,724,945	280,218,253	517,943,198
1.1.1	Cash and balances at Central Bank	V-I-1	286,909,591	304,990,535	591,900,126	156,309,961	229,393,739	385,703,700
1.1.2	Banks	V-I-3	164	64,986,254	64,986,418	651	51,099,939	51,100,590
1.1.3	Receivables from Money Markets		4,416,449	-	4,416,449	81,418,249	-	81,418,249
1.1.4	Allowance for expected credit losses (-)	V-I-16	3,152	440,974	444,126	3,916	275,425	279,341
1.2	Financial assets at fair value through profit or loss	V-I-2	1,729,610	4,098,584	5,828,194	2,997,041	31,257,616	34,254,657
1.2.1	Public debt securities		-	3,252,136	3,252,136	-	30,499,847	30,499,847
1.2.2	Equity instruments		305,919	846,448	1,152,367	144,926	757,769	902,695
1.2.3	Other financial assets		1,423,691	-	1,423,691	2,852,115	-	2,852,115
1.3	Financial assets at fair value through other
	comprehensive income	V-I-4	170,284,746	234,803,530	405,088,276	114,425,889	166,717,480	281,143,369
1.3.1	Public debt securities		168,361,421	234,741,144	403,102,565	112,640,191	166,684,771	279,324,962
1.3.2	Equity instruments		196,532	45,925	242,457	153,626	17,818	171,444
1.3.3	Other financial assets		1,726,793	16,461	1,743,254	1,632,072	14,891	1,646,963
1.4	Derivative financial assets	V-I-2	21,732,454	4,535,681	26,268,135	23,726,035	5,528,756	29,254,791
1.4.1	Derivative financial assets at fair value through profit or loss		21,732,454	4,535,681	26,268,135	23,726,035	5,528,756	29,254,791
1.4.2	Derivative financial assets at fair value through other
	comprehensive income		-	-	-	-	-	-
II.	FINANCIAL ASSETS MEASURED AT AMORTISED
	COST		1,392,532,072	614,926,307	2,007,458,379	1,297,089,192	504,800,609	1,801,889,801
2.1	Loans	V-I-5	1,130,986,459	600,846,671	1,731,833,130	1,052,862,084	466,249,420	1,519,111,504
2.2	Receivables from leasing transactions	V-I-10	-	-	-	-	-	-
2.3	Factoring receivables		-	-	-	-	-	-
2.4	Financial assets measured at amortised cost	V-I-6	303,189,915	29,169,726	332,359,641	289,285,980	55,087,022	344,373,002
2.4.1	Public debt securities		303,189,915	28,510,681	331,700,596	289,285,980	54,698,887	343,984,867
2.4.2	Other financial assets		-	659,045	659,045	-	388,135	388,135
2.5	Allowance for expected credit losses (-)		41,644,302	15,090,090	56,734,392	45,058,872	16,535,833	61,594,705
III.	NON-CURRENTS ASSETS OR DISPOSAL GROUPS
	"HELD FOR SALE" AND "FROM DISCONTINUED
	OPERATIONS (Net)	V-I-14	284,379	-	284,379	213,007	-	213,007
3.1	Held for sale purpose		284,379	-	284,379	213,007	-	213,007
3.2	Held from discontinued operations		-	-	-	-	-	-
IV.	INVESTMENTS IN ASSOCIATES, SUBSIDIARIES
	AND JOINT VENTURES		20,834,476	2,899,846	23,734,322	17,662,202	2,702,730	20,364,932
4.1	Investments in associates (Net)	V-I-7	7,023,760	-	7,023,760	5,759,620	-	5,759,620
4.1.1	Associates accounted by using equity method		-	-	-	-	-	-
4.1.2	Non-consolidated associates		7,023,760	-	7,023,760	5,759,620	-	5,759,620
4.2	Investments in subsidiaries (Net)	V-I-8	13,810,716	2,899,846	16,710,562	11,902,582	2,702,730	14,605,312
4.2.1	Non-consolidated financial subsidiaries		11,931,875	2,899,846	14,831,721	10,023,741	2,702,730	12,726,471
4.2.2	Non-consolidated non-financial subsidiaries		1,878,841	-	1,878,841	1,878,841	-	1,878,841
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	Non-consolidated jointly controlled partnerships		-	-	-	-	-	-
V.	PROPERTY AND EQUIPMENT (Net		28,351,428	135,571	28,486,999	25,597,813	125,883	25,723,696
VI.	INTANGIBLE ASSETS AND GOODWILL (Net)		1,067,828	1,813	1,069,641	878,685	1,634	880,319
6.1	Goodwill		-	-	-	-	-	-
6.2	Other		1,067,828	1,813	1,069,641	878,685	1,634	880,319
VII.	INVESTMENT PROPERTIES (Net)	V-I-12	2,928,725	-	2,928,725	2,928,725	-	2,928,725
VIII.	CURRENT TAX ASSETS		-	-	-	-	-	-
IX.	DEFERRED TAX ASSETS	V-I-13	16,933,276	-	16,933,276	10,891,261	-	10,891,261
X.	OTHER ASSETS	V-I-15	52,192,805	6,371,015	58,563,820	56,583,554	14,562,822	71,146,376
	TOTAL ASSETS		2,000,194,851	1,237,308,162	3,237,503,013	1,790,718,349	1,005,915,783	2,796,634,132

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIĞI

UNCONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AS OF JUNE 30, 2024

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

LIABILITIES AND EQUITY Notes TL FC Total TL FC Total I. DEPOSITS V-II-1 1,449,998,389 702,317,632 2,152,316,021 1,254,133,247 707,627,870 1,961,761,117 II. BORROWINGS V-II-3 42,577,504 232,152,215 274,729,719 32,724,113 188,953,477 221,677,590 III. MONEY MARKET FUNDS 128,426,635 134,043,096 262,469,731 58,858,701 73,504,733 132,363,434 IV. MARKETABLE SECURITIES (Net) V-II-3 1,880,335 140,829,673 142,710,008 1,163,579 117,165,636 118,329,215 4.1 Bills 1,880,335 3,906,358 5,786,693 1,163,579 - 1,163,579 4.2 Asset backed securities - - - - - - 4.3. Bonds - 136,923,315 136,923,315 - 117,165,636 117,165,636 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 V-II-2 2,162,842 5,929,640 8,092,482 81,679 5,684,709 5,766,388 7.1 Derivative financial liabilities at fair value through profit or loss 2,162,842 5,929,640 8,092,482 81,679 5,684,709 5,766,388 7.2 Derivative financial liabilities at fair value through other comprehensive income - - - - - - VIII. FACTORING PAYABLES - - - - - - IX. LEASE PAYABLES V-II-5 4,247,536 2,945 4,250,481 2,866,665 3,947 2,870,612 X. PROVISIONS V-II-7 18,049,463 724,016 18,773,479 20,628,265 1,463,336 22,091,601 10.1 Provision for restructuring - - - - - - 10.2 Reserves for employee benefits 7,809,032 - 7,809,032 7,128,807 - 7,128,807 10.3 Insurance technical reserves (Net) - - - - - - 10.4 Other provisions 10,240,431 724,016 10,964,447 13,499,458 1,463,336 14,962,794 XI. CURRENT TAX LIABILITIES V-II-8 12,548,749 20,813 12,569,562 11,522,000 27,923 11,549,923 XII. DEFERRED TAX LIABILITIES V-II-8 - - - - - - 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 11,296,329 43,191,709 54,488,038 10,730,094 23,707,184 34,437,278 14.1 Loans - - - - - - 14.2 Other debt instruments 11,296,329 43,191,709 54,488,038 10,730,094 23,707,184 34,437,278 XV. OTHER LIABILITIES V-II-4 88,833,733 27,007,550 115,841,283 83,300,256 31,056,099 114,356,355 XVI. SHAREHOLDERS`EQUITY V-II-11 186,945,272 4,313,932 191,259,204 166,695,848 4,731,766 171,427,614 16.1 Paid-in capital V-II-11 9,915,922 - 9,915,922 9,915,922 - 9,915,922 16.2 Capital reserves 47,480,822 947,892 48,428,714 47,437,916 883,459 48,321,375 16.2.1 Equity shares premiums 45,589,048 - 45,589,048 45,589,048 - 45,589,048 16.2.2 Share cancellation profits - - - - - - 16.2.3 Other capital reserves 1,891,774 947,892 2,839,666 1,848,868 883,459 2,732,327 16.3 Other accumulated comprehensive income that will not be reclassified in profit or loss 24,697,910 (705,283) 23,992,627 21,825,766 (657,341) 21,168,425 16.4 Other accumulated comprehensive income that will be reclassified in profit or loss (45,243) 4,071,323 4,026,080 1,812,094 4,505,648 6,317,742 16.5 Profit reserves 85,704,152 - 85,704,152 59,858,743 - 59,858,743 16.5.1 Legal reserves 9,197,197 - 9,197,197 6,612,656 - 6,612,656 16.5.2 Statutory reserves - - - - - - 16.5.3 Extraordinary reserves 74,771,302 - 74,771,302 51,613,230 - 51,613,230 16.5.4 Other profit reserves 1,735,653 - 1,735,653 1,632,857 - 1,632,857 16.6 Profit or loss 19,191,709 - 19,191,709 25,845,407 - 25,845,407 16.6.1 Prior years' profits or losses - - - 799,497 - 799,497 16.6.2 Current period net profit or loss 19,191,709 - 19,191,709 25,045,910 - 25,045,910 16.7 Minority interests - - - - - - TOTAL LIABILITIES AND EQUITY 1,946,969,792 1,290,533,221 3,237,503,013 1,642,707,452 1,153,926,680 2,796,634,132			Current Period June 30, 2024		Prior Period December 31, 2023

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIĞI

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

UNCONSOLIDATED OFF-BALANCE SHEET ITEMS AS OF JUNE 30, 2024

			Current Period June 30, 2024				Prior Period December 31, 2023
		Notes	TL	FC	Total	TL	FC	Total
A.	OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES
	(I+II+III)		988,653,389	1,355,204,089	2,343,857,478	863,023,395	1,335,390,171	2,198,413,566
I. 1.1.	GUARANTEES AND SURETIES Letters of guarantee	V-III-2 V-III-1	293,091,562 292,785,566	251,964,806 156,457,359	545,056,368 449,242,925	241,897,179 239,771,005	247,494,642 157,390,797	489,391,821 397,161,802
1.1.1.	Guarantees subject to State Tender Law		7,344,480	-	7,344,480	6,831,439	-	6,831,439
1.1.2.	Guarantees given for foreign trade operations		18,345,515	90,846,696	109,192,211	12,911,007	85,112,714	98,023,721
1.1.3.	Other letters of guarantee		267,095,571	65,610,663	332,706,234	220,028,559	72,278,083	292,306,642
1.2. 1.2.1.	Bank acceptances Import letter of acceptance		4,258 -	6,177,142 1,717,297	6,181,400 1,717,297	4,258 -	4,398,076 1,091,455	4,402,334 1,091,455
1.2.2.	Other bank acceptances	V-III-4	4,258	4,459,845	4,464,103	4,258	3,306,621	3,310,879
1.3.	Letters of credit	V-III-4	301,738	86,083,858	86,385,596	2,121,916	82,572,374	84,694,290
1.3.1. 1.3.2.	Documentary letters of credit Other letters of credit		301,738 -	86,083,858 -	86,385,596 -	2,121,916 -	82,572,374 -	84,694,290 -
1.4.	Pre-financing given as guarantee		-	26,092	26,092	-	23,515	23,515
1.5.	Endorsements		-	-	-	-	-	-
1.5.1.	Endorsements to the Central Bank of Republic of Türkiye		-	-	-	-	-	-
1.5.2. 1.6.	Other endorsements Purchase guarantees for Securities issued		- -	- -	- -	- -	- -	- -
1.7.	Factoring guarantees		-	-	-	-	-	-
1.8.	Other guarantees		-	621,640	621,640	-	526,329	526,329
1.9.	Other warrantees		-	2,598,715	2,598,715	-	2,583,551	2,583,551
II. 2.1.	COMMITMENTS Irrevocable commitments	V-III-1	614,609,347 577,266,781	290,220,224 75,935,815	904,829,571 653,202,596	451,724,674 416,470,540	287,192,025 106,591,474	738,916,699 523,062,014
2.1.1.	Asset purchase and sales commitments	V-III-1	6,983,576	75,935,815	82,919,391	35,193,004	106,591,474	141,784,478
2.1.2.	Deposit purchase and sales commitments		-	-	-	-	-	-
2.1.3.	Share capital commitments to associates and subsidiaries		-	-	-	-	-	-
2.1.4. 2.1.5.	Loan granting commitments Securities issuance brokerage commitments	V-III-1	168,748,676 -	- -	168,748,676 -	119,165,714 -	- -	119,165,714 -
2.1.6.	Commitments for reserve deposit requirements		-	-	-	-	-	-
2.1.7.	Commitments for checks payments	V-III-1	15,113,675	-	15,113,675	10,121,928	-	10,121,928
2.1.8.	Tax and fund liabilities from export commitments		-	-	-	-	-	-
2.1.9. 2.1.10.	Commitments for credit card expenditure limits Commitments for credit cards and banking services promotions	V-III-1	366,848,286 4,639,517	- -	366,848,286 4,639,517	239,679,180 2,274,392	- -	239,679,180 2,274,392
2.1.11.	Receivables from short sale commitments of marketable securities		-	-	-	-	-	-
2.1.12.	Payables for short sale commitments of marketable securities		-	-	-	-	-	-
2.1.12.	Other irrevocable commitments		14,933,051	-	14,933,051	10,036,322	-	10,036,322
2.2. 2.2.1.	Revocable commitments Revocable loan granting commitments		37,342,566 37,342,566	214,284,409 214,284,409	251,626,975 251,626,975	35,254,134 35,254,134	180,600,551 180,600,551	215,854,685 215,854,685
2.2.2.	Other revocable commitments		-	-	-	-	-	-
III.	DERIVATIVE FINANCIAL INSTRUMENTS		80,952,480	813,019,059	893,971,539	169,401,542	800,703,504	970,105,046
3.1.	Derivative financial instruments held for hedging		-	-	-	-	-	-
3.1.1. 3.1.2.	Fair value hedges Cash flow hedges		- -	- -	- -	- -	- -	- -
3.1.3.	Hedges for investments made in foreign countries		-	-	-	-	-	-
3.2.	Trading transactions		80,952,480	813,019,059	893,971,539	169,401,542	800,703,504	970,105,046
3.2.1.	Forward foreign currency purchase and sale transactions		24,067,936	29,994,584	54,062,520	13,437,023	18,270,450	31,707,473
3.2.1.1. 3.2.2.2.	Forward foreign currency purchase transactions Forward foreign currency sales		12,063,276 12,004,660	14,998,482 14,996,102	27,061,758 27,000,762	6,731,972 6,705,051	9,136,245 9,134,205	15,868,217 15,839,256
3.2.2.	Currency and interest rate swaps		52,206,580	559,888,698	612,095,278	146,286,235	587,735,885	734,022,120
3.2.2.1.	Currency swap purchase transactions		566,900	162,411,453	162,978,353	3,312,843	231,173,916	234,486,759
3.2.2.2.	Currency swap sale transactions		49,809,680	173,993,921	223,803,601	141,123,392	122,716,186	263,839,578
3.2.2.3. 3.2.2.4.	Interest rate swap purchase transactions Interest rate swap sale transactions		915,000 915,000	111,741,662 111,741,662	112,656,662 112,656,662	925,000 925,000	116,922,891 116,922,892	117,847,891 117,847,892
3.2.3.	Currency, interest rate and security options		3,593,010	5,074,704	8,667,714	8,508,530	8,647,024	17,155,554
3.2.3.1	Currency purchase options		3,593,010	910,570	4,503,580	8,508,530	304,758	8,813,288
3.2.3.2	Currency sale options		-	4,164,134	4,164,134	-	8,342,266	8,342,266
3.2.3.3 3.2.3.4	Interest rate purchase options Interest rate sale options		- -	- -	- -	- -	- -	- -
3.2.3.5	Security purchase options		-	-	-	-	-	-
3.2.3.6	Security sale options		-	-	-	-	-	-
3.2.4.	Currency futures		-	-	-	-	-	-
3.2.4.1. 3.2.4.2.	Currency purchases futures Currency sales futures		- -	- -	- -	- -	- -	- -
3.2.5.	Interest rate futures		-	-	-	-	-	-
3.2.5.1.	Interest rate purchases futures		-	-	-	-	-	-
3.2.5.2.	Interest rate sales futures		-	-	-	-	-	-
3.2.6. B.	Other CUSTODY AND PLEDGED ITEMS (IV+V+VI)		1,084,954 30,975,210,158	218,061,073 25,026,641,663	219,146,027 56,001,851,821	1,169,754 26,518,716,170	186,050,145 21,382,410,321	187,219,899 47,901,126,491
IV.	ITEMS HELD IN CUSTODY		290,512,892	163,304,998	453,817,890	234,749,671	119,191,038	353,940,709
4.1.	Assets under management		-	-	-	-	-	-
4.2.	Securities held in custody		92,060,874	107,780,155	199,841,029	61,953,528	79,267,030	141,220,558
4.3. 4.4.	Checks received for collection Commercial notes received for collection		96,469,616 10,119,501	5,598,504 8,957,566	102,068,120 19,077,067	80,178,405 7,490,224	3,074,417 5,613,199	83,252,822 13,103,423
4.5.	Other assets received for collection		2,152	1,312	3,464	2,152	1,183	3,335
4.6.	Securities received for public offering		-	-	-	-	-	-
4.7.	Other items under custody		309	27,122,761	27,123,070	309	21,785,600	21,785,909
4.8. V.	Custodians PLEDGED ITEMS		91,860,440 4,690,105,223	13,844,700 1,247,829,050	105,705,140 5,937,934,273	85,125,053 4,329,505,590	9,449,609 1,033,151,407	94,574,662 5,362,656,997
5.1.	Marketable securities		437,484	2,812,191	3,249,675	398,290	4,906,082	5,304,372
5.2.	Guarantee notes		28,551,551	13,405,500	41,957,051	19,402,395	10,297,268	29,699,663
5.3.	Commodity		388,042,827	14,561,581	402,604,408	320,451,642	12,699,256	333,150,898
5.4. 5.5.	Warrant Immovables		- 3,744,428,333	- 1,013,661,203	- 4,758,089,536	- 3,497,221,552	- 841,937,410	- 4,339,158,962
5.6.	Other pledged items		528,140,375	203,237,365	731,377,740	491,647,668	163,143,400	654,791,068
5.7.	Depositories receiving pledged items		504,653	151,210	655,863	384,043	167,991	552,034
VI.	ACCEPTED GUARANTEES AND WARRANTEES		25,994,592,043	23,615,507,615	49,610,099,658	21,954,460,909	20,230,067,876	42,184,528,785
	TOTAL OFF BALANCE SHEET COMMITMENTS (A+B)		31,963,863,547	26,381,845,752	58,345,709,299	27,381,739,565	22,717,800,492	50,099,540,057

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIĞI UNCONSOLIDATED STATEMENT OF PROFIT OR LOSS FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2024

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

		Notes	Current Period January 1, 2024- June 30, 2024	Current Period Apri1, 2024- June 30, 2024	Prior Period January 1, 2023- June 30, 2023	Prior Period April 1, 2023- June 30, 2023
I.	INTEREST INCOME	V-IV-1	305,210,711	166,893,965	95,578,906	52,431,479
1.1	Interest on loans	V-IV-1	211,798,023	113,947,098	63,453,973	35,136,684
1.2	Interest received from reserve deposits		12,746,897	9,054,950	664,748	340,339
1.3	Interest received from banks	V-IV-1	605,376	331,246	657,024	377,946
1.4	Interest received from money market transactions		8,459,559	4,911,495	116,336	62,499
1.5	Interest received from marketable securities portfolio	V-IV-1	71,086,663	38,434,260	29,967,573	15,945,614
1.5.1	Financial assets at fair value through profit or loss		199,041	56,757	250,230	149,581
1.5.2	Financial assets at fair value through other comprehensive income		31,526,833	17,953,925	10,740,106	5,636,499
1.5.3	Financial assets measured at amortised cost		39,360,789	20,423,578	18,977,237	10,159,534
1.6	Finance lease interest income		-	-	-	-
1.7	Other interest income		514,193	214,916	719,252	568,397
II.	INTEREST EXPENSES	V-IV-2	268,883,081	148,268,228	87,364,490	50,669,591
2.1	Interest on deposits	V-IV-2	240,425,977	132,321,492	72,403,670	42,225,070
2.2	Interest on funds borrowed	V-IV-2	9,737,894	5,157,242	5,560,921	3,330,380
2.3	Interest on money market transactions		9,732,355	6,076,795	4,447,490	2,670,829
2.4	Interest on securities issued	V-IV-2	7,195,717	3,853,814	3,987,121	2,192,782
2.5	Leasing interest income		452,174	246,190	267,322	148,959
2.6	Other interest expenses		1,338,964	612,695	697,966	101,571
III.	NET INTEREST INCOME/EXPENSE (I - II)		36,327,630	18,625,737	8,214,416	1,761,888
IV.	NET FEES AND COMMISSIONS INCOME/EXPENSES		21,134,778	10,505,748	9,234,264	5,133,733
4.1	Fees and commissions received		29,388,435	15,308,774	11,489,609	6,441,651
4.1.1	Non-cash loans		2,523,043	1,327,360	1,370,202	748,387
4.1.2	Other		26,865,392	13,981,414	10,119,407	5,693,264
4.2	Fees and commissions paid		8,253,657	4,803,026	2,255,345	1,307,918
4.2.1	Non-cash loans		161	70	122	87
4.2.2	Other		8,253,496	4,802,956	2,255,223	1,307,831
V.	DIVIDEND INCOME		114,202	112,929	9,428	8,768
VI.	TRADING PROFIT/LOSS (Net)	V-IV-3	(10,597,975)	(7,061,956)	11,549,600	9,297,686
6.1	Profit/losses from capital market transactions	V-IV-3	2,148,245	849,024	1,646,889	598,113
6.2	Profit/losses from derivative financial transactions	V-IV-3	(20,992,850)	(10,570,318)	2,664,042	2,743,581
6.3	Foreign exchange profit/losses	V-IV-3	8,246,630	2,659,338	7,238,669	5,955,992
VII.	OTHER OPERATING INCOME	V-IV-4	34,739,371	11,394,892	30,400,698	5,799,284
VIII.	GROSS PROFIT FROM OPERATING ACTIVITIES (III+IV+V+VI+VII)		81,718,006	33,577,350	59,408,406	22,001,359
IX.	ALLOWANCES FOR EXPECTED CREDIT LOSSES (-)	V-IV-5	24,465,695	6,899,390	21,970,477	8,649,458
X.	OTHER PROVISION EXPENSES (-)	V-IV-5	1,529,401	1,371,803	70,162	(17,524)
XI.	PERSONNEL EXPENSES (-)		12,724,636	7,008,873	6,389,856	3,448,973
XII.	OTHER OPERATING EXPENSES (-)	V-IV-6	19,747,792	10,634,303	23,235,086	6,179,486
XIII.	NET OPERATING PROFIT/LOSS (VIII-IX-X-XI-XII)		23,250,482	7,662,981	7,742,825	3,740,966
XIV.	SURPLUS WRITTEN AS GAIN AFTER MERGER		-	-	-	-
XV.	PROFIT/LOSS FROM EQUITY METHOD APPLIED SUBSIDIARIES		-	-	-	-
XVI.	NET MONETORY POSITION GAIN/LOSS		-	-	-	-
XVII.	PROFIT/LOSS BEFORE TAXES FROM CONTINUING OPERATIONS
	(XII++XV)	V-IV-7	23,250,482	7,662,981	7,742,825	3,740,966
XVIII.	PROVISION FOR TAXES ON INCOME FROM CONTINUING OPERATIONS
	(±)	V-IV-8	(4,058,773)	(494,241)	(2,233,666)	(2,734,405)
18.1	Current tax provision	V-IV-10	(8,769,778)	(6,850,399)	(1,090,874)	(19,227)
18.2	Expense effect of deferred tax (+)	V-IV-10	(3,950,087)	(2,098,241)	(7,344,099)	(6,878,522)
18.3	Income effect of deferred tax (-)	V-IV-10	8,661,092	8,454,399	6,201,307	4,163,344
XIX.	NET PROFIT/LOSS FROM CONTINUING OPERATIONS (XVII±XVIII)	V-IV-9	19,191,709	7,168,740	5,509,159	1,006,561
XX.	INCOME FROM DISCONTINUED OPERATIONS		-	-	-	-
20.1	Income from assets held for sale		-	-	-	-
20.2	Profit from sale of associates, subsidiaries and joint ventures		-	-	-	-
20.3	Other income from discontinued operations		-	-	-	-
XXI.	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	19,191,709	7,168,740	5,509,159	1,006,561
25.1	Equity holders of the Bank		-	-	-	-
25.2	Non-controlling interest (-)		-	-	-	-
	Profit/Loss per 100 shares (full TL)	III-XXIV	1.9354	0.7230	0.6136	0.1015

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIĞI UNCONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

AS OF THE SIX-MONTH PERIOD ENDED JUNE 30, 2024

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

	PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME	Current Period January 1, 2024- June 30, 2024	Prior Period January 1, 2023- June 30, 2023
I.	PROFIT (LOSS)	19,191,709	5,509,159
II.	OTHER COMPREHENSIVE INCOME	532,540	(7,277,988)
2.1.	Other comprehensive income that will not be reclassified to profit or loss	2,824,202	(1,360,624)
2.1.1.	Gains (Losses) on Revaluation of Property, Plant and Equipment	(39,421)	(16,249)
2.1.2.	Gains (losses) on revaluation of Intangible Assets	-	-
2.1.3.	Gains (losses) on remeasurements of defined benefit plans	-	-
2.1.4.	Other Components of Other Comprehensive Income That Will Not Be Reclassified to Profit or Loss	2,499,390	(1,685,794)
2.1.5.	Taxes Relating to Components of Other Comprehensive Income That Will Not Be Reclassified to Profit or Loss	364,233	341,419
2.2.	Other Comprehensive Income That Will Be Reclassified to Profit or Loss	(2,291,662)	(5,917,364)
2.2.1.	Exchange Differences on Translation	-	-
2.2.2.	Valuation and/or Reclassification Profit or Loss from financial assets at fair value through other comprehensive
	income	(3,284,643)	(7,889,297)
2.2.3.	Income (Loss) Related with Cash Flow Hedges	-	-
2.2.4.	Income (Loss) Related with Hedges of Net Investments in Foreign Operations	-	-
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	992,981	1,971,933
III.	TOTAL COMPREHENSIVE INCOME (LOSS) (I+II)	19,724,249	(1,768,829)

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIĞI UNCONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY AS OF SIX-MONTH PERIOD ENDED JUNE 30, 2024

(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
					Share									Prior	Current	Total
		Notes	Paid in Capital	Share Premiums	Cancellation Profits	Other Capital Reserves	1	2	3	4	5	6	Profit Reserves	Period Net Income (Loss)	Period Net Income (Loss)	Shareholders' Equity
	Current Period June 30, 2024
I.	Prior Period End Balance		9,915,922	45,589,048	-	2,732,327	11,461,320	(1,942,825)	11,649,930	80,727	6,237,015	-	59,858,743	25,845,407	-	171,427,614
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	45,589,048	-	2,732,327	11,461,320	(1,942,825)	11,649,930	80,727	6,237,015	-	59,858,743	25,845,407	-	171,427,614
IV.	Total Comprehensive Income		-	-	-	-	324,811	-	2,499,391	-	(2,291,662)	-	-	-	19,191,709	19,724,249
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		-	-	-	107,339	-	-	-	-	-	-	98,685	(98,683)	-	107,341
XI.	Profit Distribution		-	-	-	-	-	-	-	-	-	-	25,746,724	(25,746,724)	-	-
	11.1. Dividends paid		-	-	-	-	-	-	-	-	-	-	-	-	-	-
	11.2. Transfers to Reserves		-	-	-	-	-	-	-	-	-	-	25,746,724	(25,746,724)	-	-
	11.3. Other		-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Ending Balance		9,915,922	45,589,048	-	2,839,666	11,786,131	(1,942,825)	14,149,321	80,727	3,945,353	-	85,704,152	-	19,191,709	191,259,204

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 ANONIM ORTAKLIĞI UNCONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY AS OF SIX-MONTH PERIOD ENDED JUNE 30, 2024

(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 Premiums	Share Cancellation Profits	Other Capital Reserves	1	2	3	4	5	6	Profit Reserves	Prior Period Net Income (Loss)	Current Period Net Income (Loss)	Total Shareholders ' Equity
	Prior Period June 30, 2023
I. II.	Prior Period End Balance Corrections and Accounting Policy		7,111,364	16,468,559	-	1,266,702	3,237,995	(792,431)	8,547,402	80,727	11,205,827	-	35,841,511	24,017,232	-	106,984,888
	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)		7,111,364	16,468,559	-	1,266,702	3,237,995	(792,431)	8,547,402	80,727	11,205,827	-	35,841,511	24,017,232	-	106,984,888
IV.	Total Comprehensive Income		-	-	-	-	219,810	-	(1,580,434)	-	(5,917,364)	-	-	-	5,509,159	(1,768,829)
V.	Capital Increase by Cash		2,804,558	29,120,489	-	-	-	-	-	-	-	-	-	-	-	31,925,047
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		-	-	-	(127,744)	-	-	-	-	-	-	141,515	(141,515)	-	(127,744)
XI.	Profit Distribution		-	-	-	-	-	-	-	-	-	-	431	(431)	-	-
11.1.	Dividends paid		-	-	-	-	-	-	-	-	-	-	-	-	-	-
11.2.	Transfers to Reserves		-	-	-	-	-	-	-	-	-	-	431	(431)	-	-
11.3.	Other		-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Ending Balance		9,915,922	45,589,048	-	1,138,958	3,457,805	(792,431)	6,966,968	80,727	5,288,463	-	35,983,457	23,875,286	5,509,159	137,013,362

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 ANONIM ORTAKLIĞI UNCONSOLIDATED FINANCIAL REPORT AS OF THE SIX-MONTH PERIOD ENDED JUNE 30, 2024

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

	Notes	Current Period June 30, 2024	Prior Period June 30, 2023
A.	CASH FLOWS FROM BANKING OPERATIONS
1.1	Operating profit before changes in operating assets and liabilities	12,746,586	33,956,205
1.1.1	Interests received	273,997,566	95,536,352
1.1.2	Interests paid	(267,732,281)	(86,447,337)
1.1.3	Dividends received	114,202	9,428
1.1.4	Fee and commissions received	20,215,610	5,308,405
1.1.5	Other income	9,424,068	2,382,545
1.1.6	Collections from previously written-off loans and other receivables	3,124,335	2,054,963
1.1.7	Cash payments to personnel and service suppliers	(14,069,723)	(7,036,096)
1.1.8	Taxes paid	(3,806,619)	(842,156)
1.1.9	Other	(8,520,572)	22,990,101
1.2	Changes in operating assets and liabilities	57,330,433	37,131,070
1.2.1	Net (Increase) Decrease in Financial Assets at Fair Value through Profit or Loss	28,676,135	(6,192,354)
1.2.2	Net increase (decrease) in due from banks	(56,321,286)	27,036,064
1.2.3	Net increase (decrease) in loans	(146,506,315)	(227,611,407)
1.2.4	Net increase (decrease) in other assets	(71,013,545)	(7,023,476)
1.2.5	Net increase (decrease) in bank deposits	(7,125,510)	(20,747,138)
1.2.6	Net increase (decrease) in other deposits	162,319,440	187,639,900
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	34,192,935	12,651,784
1.2.9	Net increase (decrease) in matured payables	-	-
1.2.10	Net increase (decrease) in other liabilities	113,108,579	71,377,697
I.	Net cash flow provided from banking operations	70,077,019	71,087,275
B.	CASH FLOWS FROM INVESTING ACTIVITIES
II.	Net cash provided from investing activities	(25,180,441)	(88,397,157)
2.1	Cash paid for the purchase of associates, subsidiaries and joint ventures	(624,941)	(585,123)
2.2	Cash obtained from the sale of associates, subsidiaries and joint ventures	-	-
2.3	Cash paid for the purchase of tangible and intangible asset	(4,568,404)	(2,572,257)
2.4	Cash obtained from the sale of tangible and intangible asset	703,758	543,822
2.5	Cash paid for the purchase of financial assets at fair value through other comprehensive
	income	(67,330,638)	(21,584,206)
2.6	Cash obtained from the sale of financial assets at fair value through other comprehensive
	income	17,714,366	5,801,083
2.7	Cash paid for the purchase of financial assets at amortized cost	(1,298,353)	(83,696,110)
2.8	Cash obtained from sale of financial assets at amortized cost	30,468,235	13,930,409
2.9	Other	(244,464)	(234,775)
C.	CASH FLOWS FROM FINANCING ACTIVITIES
III.	Net cash flow from financing activities	43,553,383	21,799,914
3.1	Cash obtained from funds borrowed and securities issued	47,644,459	29,212,093
3.2	Cash outflow from funds borrowed and securities issued	(3,357,143)	(6,998,854)
3.3	Equity instruments issued	-	-
3.4	Dividends paid	-	-
3.5	Payments for finance lease liabilities	(733,933)	(413,325)
3.6	Other	-	-
IV.	Effect of change in foreign exchange rate on cash and cash equivalents	(601,790)	4,981,573
V.	Net increase/decrease in cash and cash equivalents	87,848,171	9,471,605
VI.	Cash and cash equivalents at beginning of the period	334,068,851	129,436,268
VII.	Cash and cash equivalents at end of the period	421,917,022	138,907,873