TÜRKİYE VAKIFLAR BANKASI T.A.O.

Annual / Quarterly Financial Statement • Aug 8, 2024

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AS AT JUNE 30, 2024 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

				Current Period
	ASSETS	Notes	TL	June 30, 2024 FC	Total	TL	December 31, 2023 FC
I.	FINANCIAL ASSETS (Net)		486,267,910	626,814,180	1,113,082,090	379,570,024	497,592,316	Total 877,162,340
1.1	Cash and cash equivalents	V-I-1	292,221,058	370,369,384	662,590,442	238,275,236	281,731,970	520,007,206
1.1.1	Cash and balances at Central Bank	V-I-1	286,910,018	305,026,651	591,936,669	156,310,313	229,425,451	385,735,764
1.1.2	Banks	V-I-3	915,035	65,787,659	66,702,694	566,548	52,585,045	53,151,593
1.1.3	Receivables from Money Markets		4,419,787	-	4,419,787	81,420,621	-	81,420,621
1.1.4	Allowance for expected credit losses (-)	V-I-16	23,782	444,926	468,708	22,246	278,526	300,772
1.2	Financial assets at fair value through profit or loss	V-I-2	2,014,917	4,115,427	6,130,344	3,128,128	31,899,099	35,027,227
1.2.1	Public debt securities		7,733	3,268,979	3,276,712	7,126	31,141,330	31,148,456
1.2.2	Equity instruments		383,910	846,448	1,230,358	204,322	757,769	962,091
1.2.3	Other financial assets		1,623,274	-	1,623,274	2,916,680	-	2,916,680
1.3	Financial assets at fair value through other comprehensive
	income	V-I-4	170,299,481	247,793,411	418,092,892	114,440,625	178,428,660	292,869,285
1.3.1	Public debt securities		168,361,421	242,989,248	411,350,669	112,640,191	173,896,831	286,537,022
1.3.2	Equity instruments		211,267	45,925	257,192	168,362	17,818	186,180
1.3.3	Other financial assets		1,726,793	4,758,238	6,485,031	1,632,072	4,514,011	6,146,083
1.4	Derivative financial assets	V-I-2	21,732,454	4,535,958	26,268,412	23,726,035	5,532,587	29,258,622
1.4.1	Derivative financial assets at fair value through profit or loss		21,732,454	4,535,958	26,268,412	23,726,035	5,532,587	29,258,622
1.4.2	Derivative financial assets at fair value through other
	comprehensive income		-	-	-	-	-	-
II.	FINANCIAL ASSETS MEASURED AT AMORTISED
	COST (Net)		1,413,483,215	637,709,056	2,051,192,271	1,317,406,419	525,981,240	1,843,387,659
2.1	Loans	V-I-5	1,102,588,047	613,801,627	1,716,389,674	1,025,330,731	479,141,155	1,504,471,886
2.2	Receivables from leasing transactions	V-I-10	14,019,121	7,324,087	21,343,208	13,489,614	6,264,053	19,753,667
2.3	Factoring receivables		35,963,384	3,213,810	39,177,194	34,876,011	2,678,189	37,554,200
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 (-)		42,277,252	15,800,194	58,077,446	45,575,917	17,189,179	62,765,096
III.	NON-CURRENTS ASSETS OR DISPOSAL GROUPS
	"HELD FOR SALE" AND "FROM DISCONTINUED
	OPERATIONS (Net)	V-I-14	334,099	-	334,099	262,727	-	262,727
3.1	Held for sale purpose		334,099	-	334,099	262,727	-	262,727
3.2	Related to discontinued operations		-	-	-	-	-	-
IV.	INVESTMENTS IN ASSOCIATES, SUBSIDIARIES
	AND JOINT VENTURES		8,502,904	3	8,502,907	8,027,095	3	8,027,098
4.1	Investments in associates (Net)	V-I-7	6,564,866	3	6,564,869	6,089,057	3	6,089,060
4.1.1	Associates accounted by using equity method		2,495,505	-	2,495,505	1,992,061	-	1,992,061
4.1.2	Unconsolidated associates		4,069,361	3	4,069,364	4,096,996	3	4,096,999
4.2	Investments in subsidiaries (Net)	V-I-8	1,938,038	-	1,938,038	1,938,038	-	1,938,038
4.2.1	Unconsolidated financial subsidiaries		-	-	-	-	-	-
4.2.2	Unconsolidated non-financial subsidiaries		1,938,038	-	1,938,038	1,938,038	-	1,938,038
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)		29,208,976	139,678	29,348,654	26,443,986	130,818	26,574,804
VI.	INTANGIBLE ASSETS AND GOODWILL (Net)		1,089,276	16,521	1,105,797	905,389	15,280	920,669
6.1	Goodwill		3,501	-	3,501	9,739	-	9,739
6.2	Other		1,085,775	16,521	1,102,296	895,650	15,280	910,930
VII.	INVESTMENT PROPERTIES (Net)	V-I-12	13,010,115	-	13,010,115	8,871,051	-	8,871,051
VIII.	CURRENT TAX ASSETS		2,160	-	2,160	6,141	-	6,141
IX.	DEFERRED TAX ASSETS	V-I-13	16,952,674	169,467	17,122,141	10,907,444	217,282	11,124,726
X.	OTHER ASSETS (Net)	V-I-15	61,948,680	8,791,247	70,739,927	66,611,632	16,297,386	82,909,018
	TOTAL ASSETS		2,030,800,009	1,273,640,152	3,304,440,161	1,819,011,908	1,040,234,325	2,859,246,233

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AS AT JUNE 30, 2024 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

				Current Period June 30, 2024
	LIABILITIES AND EQUITY	Notes	TL	FC	Total	TL	December 31, 2023 FC	Total
I.	DEPOSITS	V-II-1	1,448,722,909	723,996,781	2,172,719,690	1,251,483,436	727,982,218	1,979,465,654
II.	BORROWINGS	V-II-3	55,054,522	240,460,790	295,515,312	45,244,603	194,896,818	240,141,421
III.	MONEY MARKET FUNDS		128,953,896	137,216,250	266,170,146	59,566,183	77,795,929	137,362,112
IV.	MARKETABLE SECURITIES ISSUED (Net)	V-II-3	1,880,335	140,829,673	142,710,008	4,122,574	117,165,636	121,288,210
4.1	Bills		1,880,335	3,906,358	5,786,693	4,122,574	-	4,122,574
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	5,931,594	8,094,436	81,679	5,684,718	5,766,397
7.1	Derivative financial liabilities at fair value through profit
	or loss		2,162,842	5,931,594	8,094,436	81,679	5,684,718	5,766,397
7.2	Derivative financial liabilities at fair value through other
	comprehensive income		-	-	-	-	-	-
VIII.	FACTORING PAYABLES		2,142	-	2,142	90	-	90
IX.	LEASE PAYABLES (Net)	V-II-5	4,261,980	2,945	4,264,925	2,868,611	3,947	2,872,558
X.	PROVISIONS	V-II-7	18,166,967	1,048,122	19,215,089	20,724,690	1,740,669	22,465,359
10.1	Provision for restructuring		-	-	-	-	-	-
10.2	Reserves for employee benefits		7,906,059	25,692	7,931,751	7,204,372	18,899	7,223,271
10.3	Insurance technical reserves (Net)		-	-	-	-	-	-
10.4	Other provisions		10,260,908	1,022,430	11,283,338	13,520,318	1,721,770	15,242,088
XI.	CURRENT TAX LIABILITIES	V-II-8	13,172,983	20,813	13,193,796	12,068,704	27,923	12,096,627
XII.	DEFERRED TAX LIABILITIES	V-II-8	85,950	-	85,950	118,171	-	118,171
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	93,962,941	27,736,292	121,699,233	90,653,894	31,699,759	122,353,653
XVI.	SHAREHOLDERS` EQUITY	V-II-11	199,088,487	7,189,904	206,278,391	173,154,668	7,721,030	180,875,698
16.1	Paid-in capital	V-II-11	9,915,922	-	9,915,922	9,915,922	-	9,915,922
16.2	Capital reserves		45,225,647	-	45,225,647	45,162,980	-	45,162,980
16.2.1 16.2.2	Equity share premiums Share cancellation profits		45,601,513 -	- -	45,601,513 -	45,589,989 -	- -	45,589,989 -
16.2.3	Other capital reserves		(375,866)	-	(375,866)	(427,009)	-	(427,009)
16.3	Other accumulated comprehensive income that will not be
	reclassified in profit or loss		15,590,477	-	15,590,477	15,231,608	-	15,231,608
16.4	Other accumulated comprehensive income that will be
	reclassified in profit or loss		(90,111)	6,379,406	6,289,295	1,764,237	5,876,465	7,640,702
16.5	Profit reserves		89,509,267	46,684	89,555,951	61,639,907	447,897	62,087,804
16.5.1	Legal reserves		9,564,288	46,684	9,610,972	6,893,519	28,297	6,921,816
16.5.2	Statutory reserves		6,337	-	6,337	6,337	-	6,337
16.5.3	Extraordinary reserves		78,121,503	-	78,121,503	53,024,454	415,985	53,440,439
16.5.4	Other profit reserves		1,817,139	-	1,817,139	1,715,597	3,615	1,719,212
16.6	Profit or loss		30,485,360	763,814	31,249,174	33,837,087	1,391,998	35,229,085
16.6.1	Prior years' profits or losses		6,416,987	565,749	6,982,736	3,596,715	(23,561)	3,573,154
16.6.2	Current period net profit or loss		24,068,373	198,065	24,266,438	30,240,372	1,415,559	31,655,931
16.7	Minority interests		8,451,925	-	8,451,925	5,602,927	4,670	5,607,597
	TOTAL LIABILITIES AND EQUITY		1,976,815,288	1,327,624,873	3,304,440,161	1,670,820,402	1,188,425,831	2,859,246,233

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED OFF-BALANCE SHEET ITEMS AS AT JUNE 30, 2024

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

December 31, 2023 Notes TL FC Total TL FC Total A. OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES (I+II+III) 1,004,272,609 1,364,426,310 2,368,698,919 875,990,279 1,340,534,602 2,216,524,881 I. GUARANTEES AND SURETIES V-III-2 298,304,180 256,234,354 554,538,534 247,348,813 250,160,120 497,508,933 1.1. Letters of guarantee V-III-1 294,515,566 156,461,035 450,976,601 241,501,004 157,394,223 398,895,227 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 268,825,571 65,614,339 334,439,910 221,758,558 72,281,509 294,040,067 1.2. Bank acceptances 4,258 6,177,142 6,181,400 4,258 4,398,076 4,402,334 1.2.1. Import letter of acceptance - 1,717,297 1,717,297 - 1,091,455 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. Documentary letters of credit 301,738 86,083,858 86,385,596 2,121,916 82,572,374 84,694,290 1.3.2. Other letters of credit - - - - - - 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. Other endorsements - - - - - - 1.6. Purchase guarantees for Securities issued - - - - - - 1.7. Factoring guarantees 2,405,713 4,265,872 6,671,585 1,689,731 2,662,052 4,351,783 1.8. Other guarantees 356,904 621,640 978,544 356,904 526,329 883,233 1.9. Other warrantees 720,001 2,598,715 3,318,716 1,675,000 2,583,551 4,258,551 II. COMMITMENTS 625,015,949 294,338,300 919,354,249 459,239,924 289,433,226 748,673,150 2.1. Irrevocable commitments V-III-1 587,673,383 80,053,891 667,727,274 423,985,790 108,832,675 532,818,465 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. Loan granting commitments V-III-1 168,748,676 3,564 168,752,240 119,165,714 4,256 119,169,970 2.1.5. Securities issuance brokerage commitments - - - - - - 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. Commitments for credit card expenditure limits V-III-1 366,848,286 - 366,848,286 239,679,180 - 239,679,180 2.1.10. Commitments for credit cards and banking services promotions 4,639,517 - 4,639,517 2,274,392 - 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 - - - - - - 2.1.13. Other irrevocable commitments 25,339,653 4,114,512 29,454,165 17,551,572 2,236,945 19,788,517 2.2. Revocable commitments 37,342,566 214,284,409 251,626,975 35,254,134 180,600,551 215,854,685 2.2.1. Revocable loan granting commitments 37,342,566 214,284,409 251,626,975 35,254,134 180,600,551 215,854,685 2.2.2. Other revocable commitments - - - - - - III. DERIVATIVE FINANCIAL INSTRUMENTS 80,952,480 813,853,656 894,806,136 169,401,542 800,941,256 970,342,798 3.1. Derivative financial instruments held for hedging - - - - - - 3.1.1. Fair value hedges - - - - - - 3.1.2. Cash flow hedges - - - - - - 3.1.3. Hedges for investments made in foreign countries - - - - - - 3.2. Trading transactions 80,952,480 813,853,656 894,806,136 169,401,542 800,941,256 970,342,798 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. Forward foreign currency purchase transactions 12,063,276 14,998,482 27,061,758 6,731,972 9,136,245 15,868,217 3.2.1.2. Forward foreign currency sales 12,004,660 14,996,102 27,000,762 6,705,051 9,134,205 15,839,256 3.2.2. Currency and interest rate swaps 52,206,580 560,723,295 612,929,875 146,286,235 587,973,637 734,259,872 3.2.2.1. Currency swap purchase transactions 566,900 162,827,913 163,394,813 3,312,843 231,294,703 234,607,546 3.2.2.2. Currency swap sale transactions 49,809,680 174,412,058 224,221,738 141,123,392 122,833,151 263,956,543 3.2.2.3. Interest rate swap purchase transactions 915,000 111,741,662 112,656,662 925,000 116,922,891 117,847,891 3.2.2.4. Interest rate swap sale transactions 915,000 111,741,662 112,656,662 925,000 116,922,892 117,847,892 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 Interest rate purchase options - - - - - - 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. Currency futures - - - - - - 3.2.4.1. Currency purchases 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. Interest rate sales futures - - - - - - 3.2.6. Other 1,084,954 218,061,073 219,146,027 1,169,754 186,050,145 187,219,899 B. CUSTODY AND PLEDGED ITEMS (IV+V+VI) 31,074,832,697 25,084,474,096 56,159,306,793 26,581,415,298 21,432,985,703 48,014,401,001 IV. ITEMS HELD IN CUSTODY 390,127,031 221,137,431 611,264,462 297,240,399 169,766,420 467,006,819 4.1. Assets under management 14,674,190 - 14,674,190 13,774,891 - 13,774,891 4.2. Securities held in custody 115,203,223 107,780,155 222,983,378 63,816,139 79,267,030 143,083,169 4.3. Checks received for collection 103,716,533 5,924,934 109,641,467 86,170,197 3,367,156 89,537,353 4.4. Commercial notes received for collection 63,223,803 11,527,110 74,750,913 47,371,511 7,928,256 55,299,767 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 1,418,990 82,059,220 83,478,210 953,336 69,753,186 70,706,522 4.8. Custodians 91,888,140 13,844,700 105,732,840 85,152,173 9,449,609 94,601,782 V. PLEDGED ITEMS 4,690,113,623 1,247,829,050 5,937,942,673 4,329,713,990 1,033,151,407 5,362,865,397 5.1. Marketable securities 437,484 2,812,191 3,249,675 398,290 4,906,082 5,304,372 5.2. Guarantee notes 28,559,951 13,405,500 41,965,451 19,610,795 10,297,268 29,908,063 5.3. Commodity 388,042,827 14,561,581 402,604,408 320,451,642 12,699,256 333,150,898 5.4. Warrant - - - - - - 5.5. 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) 32,079,105,306 26,448,900,406 58,528,005,712 27,457,405,577 22,773,520,305 50,230,925,882		Current Period			Prior Period
			June 30, 2024

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED 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 April 1, 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	311,187,989	170,085,769	98,460,671	53,947,397
1.1	Interest on loans	V-IV-1	213,904,702	115,110,754	64,922,811	35,958,553
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	881,056	466,396	677,496	233,645
1.4	Interest received from money market transactions		8,463,518	4,912,013	117,338	62,631
1.5	Interest received from marketable securities portfolio	V-IV-1	71,250,013	38,517,655	30,066,241	15,989,323
1.5.1	Financial assets at fair value through profit or loss		210,969	61,475	261,687	146,388
1.5.2	Financial assets at fair value through other comprehensive income		31,678,255	18,032,602	10,827,317	5,683,401
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		3,365,682	1,777,215	1,282,581	789,132
1.7	Other interest income		576,121	246,786	729,456	573,774
II.	INTEREST EXPENSES (-)	V-IV-2	270,968,337	149,262,242	87,862,990	50,883,371
2.1	Interest on deposits	V-IV-2	240,338,048	132,283,057	72,042,684	41,902,062
2.2	Interest on funds borrowed	V-IV-2	11,734,024	6,210,257	6,170,591	3,717,699
2.3	Interest on money market transactions		9,871,937	6,112,023	4,559,564	2,756,369
2.4	Interest on securities issued	V-IV-2	7,361,880	3,862,211	4,109,833	2,253,890
2.5	Leasing interest income		321,656	181,025	267,944	149,254
2.6	Other interest expenses		1,340,792	613,669	712,374	104,097
III.	NET INTEREST INCOME/EXPENSE (I - II)		40,219,652	20,823,527	10,597,681	3,064,026
IV.	NET FEES AND COMMISSIONS INCOME/EXPENSES		20,334,410	10,166,598	8,877,344	5,075,027
4.1	Fees and commissions received		28,668,480	15,006,890	11,174,375	6,408,058
4.1.1	Non-cash loans		2,519,191	1,325,281	1,367,650	747,055
4.1.2	Other		26,149,289	13,681,609	9,806,725	5,661,003
4.2	Fees and commissions paid (-)		8,334,070	4,840,292	2,297,031	1,333,031
4.2.1	Non-cash loans		63,052	29,887	29,757	18,402
4.2.2	Other		8,271,018	4,810,405	2,267,274	1,314,629
V.	DIVIDEND INCOME		121,821	120,331	12,027	9,746
VI.	TRADING PROFIT/LOSS (Net)	V-IV-3	(10,487,267)	(7,053,284)	12,731,311	10,397,186
6.1	Profit/losses from capital market transactions	V-IV-3	2,194,089	878,819	1,668,104	611,928
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 VII.	Foreign exchange profit/losses OTHER OPERATING INCOME	V-IV-3 V-IV-4	8,311,494 42,365,332	2,638,215 17,764,841	8,399,165 31,184,314	7,041,677 6,102,103
	GROSS PROFIT FROM OPERATING ACTIVITIES
VIII.	(III+IV+V+VI+VII)		92,553,948	41,822,013	63,402,677	24,648,088
IX.	ALLOWANCES FOR EXPECTED CREDIT LOSSES (-)	V-IV-5	24,696,114	7,026,402	22,174,535	8,750,689
X.	OTHER PROVISION EXPENSES (-)	V-IV-5	1,534,585	1,376,761	70,263	(22,826)
XI.	PERSONNEL EXPENSES (-)		13,179,364	7,268,939	6,600,893	3,570,515
XII.	OTHER OPERATING EXPENSES (-)	V-IV-6	21,675,525	11,830,776	23,440,840	6,354,392
XIII.	NET OPERATING PROFIT/LOSS (VIII-IX-X-XI-XII)		31,468,360	14,319,135	11,116,146	5,995,318
XIV.	SURPLUS WRITTEN AS GAIN AFTER MERGER		-	-	-	-
	PROFIT/LOSS FROM EQUITY METHOD APPLIED
XV.	SUBSIDIARIES		394,372	218,004	282,011	155,280
XVI.	NET MONETORY POSITION GAIN/LOSS		-	-	-	-
XVII.	PROFIT/LOSS BEFORE TAXES FROM CONTINUING OPERATIONS (XIII++XVI)	V-IV-7	31,862,732	14,537,139	11,398,157	6,150,598
XVIII.	PROVISION FOR TAXES ON INCOME FROM CONTINUING
	OPERATIONS (±)	V-IV-10	(5,033,791)	(1,025,285)	(3,049,319)	(3,286,702)
18.1	Current tax provision	V-IV-10	(9,743,477)	(7,388,324)	(1,665,622)	(372,102)
18.2	Expense effect of deferred tax (+)	V-IV-10	(3,999,575)	(2,099,768)	(7,593,334)	(7,085,971)
18.3 XIX.	Income effect of deferred tax (-) NET PROFIT/LOSS FROM CONTINUING OPERATIONS (XVII±XVIII)	V-IV-10 V-IV-9	8,709,261 26,828,941	8,462,807 13,511,854	6,209,637 8,348,838	4,171,371 2,863,896
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 (-)		-	-	-	-
	NET PROFIT/LOSS FROM DISCONTINUED OPERATIONS
XXIV.	(XXII±XXIII)		-	-	-	-
XXV.	NET PROFIT/LOSSES (XIX+XXIV)	V-IV-11	26,828,941	13,511,854	8,348,838	2,863,896
25.1	Group's profit/(loss)		24,266,438	11,094,210	7,889,356	2,549,765
25.2	Profit /(Loss) from Minority shares (-)		2,562,503	2,417,644	459,482	314,131
	Profit/Loss per 100 shares (full TL)	III-XXIV	2.7056	1.3626	0.9232	0.2888

The accompanying explanations and notes form an integral part of these consolidated financial statements. The accompanying explanations and notes form an integral part of these consolidated financial statements.

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR 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. II. 2.1.	PROFIT (LOSS) OTHER COMPREHENSIVE INCOME Other comprehensive income that will not be reclassified to profit or loss	26,828,941 (982,501) 368,906	8,348,838 (5,190,108) 278,379
2.1.1.	Gains (Losses) on Revaluation of Property, Plant and Equipment	15,405	15,694
2.1.2.	Gains (losses) on revaluation of Intangible Assets	-	-
2.1.3.	Gains (losses) on remeasurements of defined benefit plans	(7,661)	(5,674)
2.1.4.	Other Components of Other Comprehensive Income That Will Not Be Reclassified to Profit or Loss	(7,184)	30,732
2.1.5.	Taxes Relating to Components of Other Comprehensive Income That Will Not Be Reclassified to Profit or Loss	368,346	237,627
2.2.	Other Comprehensive Income That Will Be Reclassified to Profit or Loss	(1,351,407)	(5,468,487)
2.2.1.	Exchange Differences on Translation	105,349	657,472
2.2.2.	Valuation and/or Reclassification Profit or Loss from financial assets at fair value through other comprehensive
	income	(2,922,351)	(7,964,659)
2.2.3.	Income (Loss) Related with Cash Flow Hedges	-	-
2.2.4.	Income (Loss) Related with Hedges of Net Investments in Foreign Operations	494,426	(315,288)
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	971,169	2,153,988
III.	TOTAL COMPREHENSIVE INCOME (I+II)	25,846,440	3,158,730

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE 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 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, 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 STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2023 (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
I.	June 30, 2023 Prior Period End Balance			7,111,364 16,469,500	-	(63,177)	3,381,054	(800,579)	2,924,446	1,490,653	10,802,217		(328,089) 37,480,709 27,311,639			- 105,779,737	2,882,654	108,662,391
	Corrections and
II.	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)			7,111,364 16,469,500	-	(63,177)	3,381,054	(800,579)	2,924,446	1,490,653	10,802,217		(328,089) 37,480,709 27,311,639			- 105,779,737	2,882,654	108,662,391
IV.	Total Comprehensive
	Income		-	-	-	-	245,969	(4,276)	31,165	657,472	(5,971,515)	(154,444)	-	-	7,889,356	2,693,727	465,003	3,158,730
V.	Capital Increase by Cash Capital Increase by			2,804,558 29,120,489	-	-	-	-	-	-	-	-	-	-	-	31,925,047	-	31,925,047
VI.	Internal Resources		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Paid-in capital inflation
VII.	adjustment difference		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	VIII. Convertible Bonds		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
	Subordinated Debt
IX.	Instruments		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
X.	Increase/Decrease by
	Other Changes		-	-	-	(352,390)	-	-	-	-	-	-	160,402	(231,588)	-	(423,576)	227,891	(195,685)
XI.	Profit Distribution		-	-	-	-	-	-	-	-	-	-	348,366	(350,730)	-	(2,364)	-	(2,364)
	11.1. Dividends paid		-	-	-	-	-	-	-	-	-	-	-	(1,087)	-	(1,087)	-	(1,087)
	11.2. Transfers to Reserves		-	-	-	-	-	-	-	-	-	-	336,195	(336,201)	-	(6)	-	(6)
	11.3. Other		-	-	-	-	-	-	-	-	-	-	12,171	(13,442)	-	(1,271)	-	(1,271)
	Ending Balance			9,915,922 45,589,989	-	(415,567)	3,627,023	(804,855)	2,955,611	2,148,125	4,830,702		(482,533) 37,989,477 26,729,321			7,889,356 139,972,571	3,575,548	143,548,119

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, 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	16,875,972	35,920,365
1.1.1	Interest received	279,841,201	98,417,887
1.1.2	Interest paid	(269,369,896)	(86,945,837)
1.1.3	Dividends received	121,821	12,027
1.1.4	Fee and commissions received	19,495,655	4,993,171
1.1.5	Other income	12,643,753	2,692,941
1.1.6	Collections from previously written off loans and other receivables	3,134,870	2,115,175
1.1.7	Cash payments to personnel and service suppliers	(14,534,877)	(7,250,942)
1.1.8	Taxes paid	(3,845,689)	(851,136)
1.1.9	Other	(10,610,866)	22,737,079
1.2	Changes in operating assets and liabilities subject to banking operations	55,422,793	34,392,127
1.2.1	Net (Increase) Decrease in Financial Assets at Fair Value through Profit or Loss	29,145,823	(6,548,518)
1.2.2	Net increase (decrease) in due from banks	(56,321,286)	27,036,064
1.2.3	Net increase (decrease) in loans	(145,689,714)	(225,796,794)
1.2.4	Net increase (decrease) in other assets	(71,461,310)	(12,156,162)
1.2.5	Net increase (decrease) in bank deposits	(7,154,930)	(20,747,069)
1.2.6	Net increase (decrease) in other deposits	163,321,230	187,838,767
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	34,181,764	13,338,792
1.2.9	Net increase (decrease) in matured payables	-	-
1.2.10	Net increase (decrease) in other liabilities	109,401,216	71,427,047
I.	Net cash flow provided from banking operations	72,298,765	70,312,492
B.	CASH FLOWS FROM INVESTING ACTIVITIES
II.	Net cash provided from investing activities	(24,883,151)	(87,738,558)
2.1	Cash paid for the purchase of associates, subsidiaries and joint ventures	-	(119,285)
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	(4,622,028)	(2,610,083)
2.4	Cash obtained from the sale of tangible and intangible asset	703,758	733,662
2.5	Cash paid for the purchase of financial assets at fair value through other comprehensive
	income	(67,990,230)	(21,900,057)
2.6	Cash obtained from the sale of financial assets at fair value through other
	comprehensive income	18,102,340	6,170,285
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	(246,873)	(247,379)
C.	CASH FLOWS FROM FINANCING ACTIVITIES
III.	Net cash flows from financing activities	40,672,285	22,072,787
3.1	Cash obtained from funds borrowed and securities issued	47,644,459	29,568,888
3.2	Cash outflow from funds borrowed and securities issued	(6,208,624)	(8,513,353)
3.3	Equity instruments issued	-	1,378,970
3.4	Dividends paid	-	-
3.5	Payments for finance lease liabilities	(763,550)	(361,718)
3.6	Other	-	-
IV.	Effect of change in foreign exchange rate on cash and cash equivalents	(535,262)	5,225,116
V.	Net increase/decrease in cash and cash equivalents	87,552,637	9,871,837
VI.	Cash and cash equivalents at beginning of the period	336,682,989	129,679,153
VII.	Cash and cash equivalents at end of the period	424,235,626	139,550,990