TÜRKİYE VAKIFLAR BANKASI T.A.O.

Quarterly Report • Nov 6, 2024

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI

CONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AS AT SEPTEMBER 30, 2024

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

				Current Period September 30, 2024
	ASSETS	Notes	TL	FC	Total	TL	December 31, 2023 FC	Total
I.	FINANCIAL ASSETS (Net)		604,193,806	680,210,305	1,284,404,111	379,570,024	497,592,316	877,162,340
1.1	Cash and cash equivalents	V-I-1	363,550,090	407,580,476	771,130,566	238,275,236	281,731,970	520,007,206
1.1.1	Cash and balances at Central Bank	V-I-1	359,062,349	337,780,362	696,842,711	156,310,313	229,425,451	385,735,764
1.1.2	Banks	V-I-3	787,801	70,321,677	71,109,478	566,548	52,585,045	53,151,593
1.1.3	Receivables from Money Markets		3,715,850	-	3,715,850	81,420,621	-	81,420,621
1.1.4	Allowance for expected credit losses (-)	V-I-16	15,910	521,563	537,473	22,246	278,526	300,772
1.2	Financial assets at fair value through profit or loss	V-I-2	1,481,130	941,100	2,422,230	3,128,128	31,899,099	35,027,227
1.2.1	Public debt securities		5,709	17,255	22,964	7,126	31,141,330	31,148,456
1.2.2	Equity instruments		291,883	923,845	1,215,728	204,322	757,769	962,091
1.2.3	Other financial assets		1,183,538	-	1,183,538	2,916,680	-	2,916,680
1.3	Financial assets at fair value through other comprehensive
	income	V-I-4	216,718,511	260,291,667	477,010,178	114,440,625	178,428,660	292,869,285
1.3.1	Public debt securities		214,807,315	254,891,473	469,698,788	112,640,191	173,896,831	286,537,022
1.3.2	Equity instruments		250,648	48,993	299,641	168,362	17,818	186,180
1.3.3	Other financial assets		1,660,548	5,351,201	7,011,749	1,632,072	4,514,011	6,146,083
1.4	Derivative financial assets	V-I-2	22,444,075	11,397,062	33,841,137	23,726,035	5,532,587	29,258,622
1.4.1	Derivative financial assets at fair value through profit or loss		22,444,075	11,397,062	33,841,137	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)		1,497,691,263	714,129,893	2,211,821,156	1,317,406,419	525,981,240	1,843,387,659
2.1	Loans	V-I-5	1,190,598,449	687,664,699	1,878,263,148	1,025,330,731	479,141,155	1,504,471,886
2.2	Receivables from leasing transactions	V-I-10	13,665,067	9,100,608	22,765,675	13,489,614	6,264,053	19,753,667
2.3	Factoring receivables		22,619,425	4,437,352	27,056,777	34,876,011	2,678,189	37,554,200
2.4	Financial assets measured at amortised cost	V-I-6	315,068,094	30,214,683	345,282,777	289,285,980	55,087,022	344,373,002
2.4.1	Public debt securities		315,068,094	29,528,093	344,596,187	289,285,980	54,698,887	343,984,867
2.4.2	Other financial assets		-	686,590	686,590	-	388,135	388,135
2.5	Allowance for expected credit losses (-)		44,259,772	17,287,449	61,547,221	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	371,598	-	371,598	262,727	-	262,727
3.1	Held for sale purpose		371,598	-	371,598	262,727	-	262,727
3.2	Related to discontinued operations		-	-	-	-	-	-
IV.	INVESTMENTS IN ASSOCIATES, SUBSIDIARIES
	AND JOINT VENTURES		8,748,753	3	8,748,756	8,027,095	3	8,027,098
4.1	Investments in associates (Net)	V-I-7	6,810,715	3	6,810,718	6,089,057	3	6,089,060
4.1.1	Associates accounted by using equity method		2,739,926	-	2,739,926	1,992,061	-	1,992,061
4.1.2	Unconsolidated associates		4,070,789	3	4,070,792	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)		31,222,631	137,582	31,360,213	26,443,986	130,818	26,574,804
VI.	INTANGIBLE ASSETS AND GOODWILL (Net)		1,289,054	17,203	1,306,257	905,389	15,280	920,669
6.1	Goodwill		3,364	-	3,364	9,739	-	9,739
6.2	Other		1,285,690	17,203	1,302,893	895,650	15,280	910,930
VII.	INVESTMENT PROPERTIES (Net)	V-I-12	15,439,669	-	15,439,669	8,871,051	-	8,871,051
VIII.	CURRENT TAX ASSETS		8,130,103	-	8,130,103	6,141	-	6,141
IX.	DEFERRED TAX ASSETS	V-I-13	5,197,168	162,093	5,359,261	10,907,444	217,282	11,124,726
X.	OTHER ASSETS (Net)	V-I-15	59,207,800	5,908,180	65,115,980	66,611,632	16,297,386	82,909,018
	TOTAL ASSETS		2,231,491,845	1,400,565,259	3,632,057,104	1,819,011,908	1,040,234,325	2,859,246,233

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI

CONSOLIDATED BALANCE SHEET (STATEMENT OF FINANCIAL POSITION) AS AT SEPTEMBER 30, 2024

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

				Current Period September 30, 2024			Prior Period December 31, 2023
	LIABILITIES AND EQUITY	Notes	TL	FC	Total	TL	FC	Total
I. II. III.	DEPOSITS BORROWINGS MONEY MARKET FUNDS	V-II-1 V-II-3	1,594,583,528 49,733,587 178,351,516	728,445,794 256,103,196 151,384,471	2,323,029,322 305,836,783 329,735,987	1,251,483,436 45,244,603 59,566,183	727,982,218 194,896,818 77,795,929	1,979,465,654 240,141,421 137,362,112
IV. 4.1 4.2	MARKETABLE SECURITIES ISSUED (Net) Bills Asset backed securities	V-II-3	948,533 948,533 -	182,092,896 2,519,357 -	183,041,429 3,467,890 -	4,122,574 4,122,574 -	117,165,636 - -	121,288,210 4,122,574 -
4.3. V.	Bonds FUNDS		- 3,005	179,573,539 -	179,573,539 3,005	- 3,005	117,165,636 -	117,165,636 3,005
5.1 5.2	Borrower funds Other		- 3,005	- -	- 3,005	- 3,005	- -	- 3,005
VI. VII.	FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS DERIVATIVE FINANCIAL LIABILITIES	V-II-2	- 1,272,688	- 5,049,365	- 6,322,053	- 81,679	- 5,684,718	- 5,766,397
7.1	Derivative financial liabilities at fair value through profit or loss		1,272,688	5,049,365	6,322,053	81,679	5,684,718	5,766,397
7.2 VIII.	Derivative financial liabilities at fair value through other comprehensive income FACTORING PAYABLES		- -	- -	- -	- 90	- -	- 90
IX. X.	LEASE PAYABLES (Net) PROVISIONS	V-II-5 V-II-7	5,087,104 19,394,846	2,313 743,941	5,089,417 20,138,787	2,868,611 20,724,690	3,947 1,740,669	2,872,558 22,465,359
10.1 10.2 10.3	Provision for restructuring Reserves for employee benefits Insurance technical reserves (Net)		- 9,014,113 -	- 34,238 -	- 9,048,351 -	- 7,204,372 -	- 18,899 -	- 7,223,271 -
10.4 XI. XII.	Other provisions CURRENT TAX LIABILITIES DEFERRED TAX LIABILITIES	V-II-8 V-II-8	10,380,733 8,414,105 152,667	709,703 21,753 -	11,090,436 8,435,858 152,667	13,520,318 12,068,704 118,171	1,721,770 27,923 -	15,242,088 12,096,627 118,171
XIII.	LIABILITIES RELATED TO NON-CURRENT ASSETS "HELD FOR SALE" AND
13.1	"DISCONTINUED OPERATIONS" (Net) Held for sale	V-II-9	- -	- -	- -	- -	- -	- -
13.2 XIV. 14.1	Related to discontinued operations SUBORDINATED DEBT Loans	V-II-10	- 11,537,540 -	- 71,205,111 -	- 82,742,651 -	- 10,730,094 -	- 23,707,184 -	- 34,437,278 -
14.2 XV.	Other debt instruments OTHER LIABILITIES	V-II-4	11,537,540 112,791,326	71,205,111 34,212,376	82,742,651 147,003,702	10,730,094 90,653,894	23,707,184 31,699,759	34,437,278 122,353,653
XVI. 16.1 16.2	SHAREHOLDERS` EQUITY Paid-in capital Capital reserves	V-II-11 V-II-11	208,652,574 9,915,922 46,120,305	11,872,869 - -	220,525,443 9,915,922 46,120,305	173,154,668 9,915,922 45,162,980	7,721,030 - -	180,875,698 9,915,922 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 16.3	Other capital reserves Other accumulated comprehensive income that will not be reclassified in profit or loss		518,792 14,785,488	- -	518,792 14,785,488	(427,009) 15,231,608	- -	(427,009) 15,231,608
16.4	Other accumulated comprehensive income that will be reclassified in profit or loss		(2,303,401)	10,890,799	8,587,398	1,764,237	5,876,465	7,640,702
16.5 16.5.1	Profit reserves Legal reserves		89,408,342 9,623,799	46,684 46,684	89,455,026 9,670,483	61,639,907 6,893,519	447,897 28,297	62,087,804 6,921,816
16.5.2 16.5.3	Statutory reserves Extraordinary reserves		6,337 78,033,601	- -	6,337 78,033,601	6,337 53,024,454	- 415,985	6,337 53,440,439
16.5.4 16.6 16.6.1	Other profit reserves Profit or loss Prior years' profits or losses		1,744,605 41,046,629 6,538,522	- 935,386 565,749	1,744,605 41,982,015 7,104,271	1,715,597 33,837,087 3,596,715	3,615 1,391,998 (23,561)	1,719,212 35,229,085 3,573,154
16.6.2 16.7	Current period net profit or loss Minority interests		34,508,107 9,679,289	369,637 -	34,877,744 9,679,289	30,240,372 5,602,927	1,415,559 4,670	31,655,931 5,607,597
	TOTAL LIABILITIES AND EQUITY		2,190,923,019	1,441,134,085	3,632,057,104	1,670,820,402	1,188,425,831	2,859,246,233

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI CONSOLIDATED OFF-BALANCE SHEET ITEMS AS AT SEPTEMBER 30, 2024

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

				Current Period September 30, 2024			Prior Period December 31, 2023
		Notes	TL	FC	Total	TL	FC	Total
A.	OFF-BALANCE SHEET COMMITMENTS AND CONTINGENCIES
I.	(I+II+III) GUARANTEES AND SURETIES	V-III-2	1,215,032,269 325,064,596	1,558,717,319 286,483,855	2,773,749,588 611,548,451	875,990,279 247,348,813	1,340,534,602 250,160,120	2,216,524,881 497,508,933
1.1. 1.1.1.	Letters of guarantee Guarantees subject to State Tender Law	V-III-1	320,461,428 7,160,790	170,222,188 -	490,683,616 7,160,790	241,501,004 6,831,439	157,394,223 -	398,895,227 6,831,439
1.1.2.	Guarantees given for foreign trade operations		20,190,023	91,940,633	112,130,656	12,911,007	85,112,714	98,023,721
1.1.3.	Other letters of guarantee		293,110,615	78,281,555	371,392,170	221,758,558	72,281,509	294,040,067
1.2.	Bank acceptances		4,258	6,087,076	6,091,334	4,258	4,398,076	4,402,334
1.2.1.	Import letter of acceptance		-	1,405,552	1,405,552	-	1,091,455	1,091,455
1.2.2. 1.3.	Other bank acceptances Letters of credit	V-III-4 V-III-4	4,258 247,871	4,681,524 101,965,550	4,685,782 102,213,421	4,258 2,121,916	3,306,621 82,572,374	3,310,879 84,694,290
1.3.1.	Documentary letters of credit		247,871	101,965,550	102,213,421	2,121,916	82,572,374	84,694,290
1.3.2.	Other letters of credit		-	-	-	-	-	-
1.4.	Pre-financing given as guarantee		-	27,191	27,191	-	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		3,178,137	4,794,138	7,972,275	1,689,731	2,662,052	4,351,783
1.8.	Other guarantees		252,902	609,559	862,461	356,904	526,329	883,233
1.9.	Other warrantees		920,000	2,778,153	3,698,153	1,675,000	2,583,551	4,258,551
II.	COMMITMENTS		790,959,933	343,125,094	1,134,085,027	459,239,924	289,433,226	748,673,150
2.1.	Irrevocable commitments	V-III-1	754,228,591	117,411,843	871,640,434	423,985,790	108,832,675	532,818,465
2.1.1.	Asset purchase and sales commitments	V-III-1	48,523,857	113,070,405	161,594,262	35,193,004	106,591,474	141,784,478
2.1.2.	Deposit purchase and sales commitments		-	-	-	-	-	-
2.1.3. 2.1.4.	Share capital commitments to associates and subsidiaries Loan granting commitments	V-III-1	2,287 233,576,703	- 4,116	2,287 233,580,819	- 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	14,852,025	-	14,852,025	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	423,951,930	-	423,951,930	239,679,180	-	239,679,180
2.1.10.	Commitments for credit cards and banking services promotions		4,115,799	-	4,115,799	2,274,392	-	2,274,392
2.1.11. 2.1.12.	Receivables from short sale commitments of marketable securities Payables for short sale commitments of marketable securities		- -	- -	- -	- -	- -	- -
2.1.13.	Other irrevocable commitments		29,205,990	4,337,322	33,543,312	17,551,572	2,236,945	19,788,517
2.2.	Revocable commitments		36,731,342	225,713,251	262,444,593	35,254,134	180,600,551	215,854,685
2.2.1.	Revocable loan granting commitments		36,731,342	225,713,251	262,444,593	35,254,134	180,600,551	215,854,685
2.2.2.	Other revocable commitments		-	-	-	-	-	-
III.	DERIVATIVE FINANCIAL INSTRUMENTS		99,007,740	929,108,370	1,028,116,110	169,401,542	800,941,256	970,342,798
3.1. 3.1.1.	Derivative financial instruments held for hedging Fair value hedges		- -	- -	- -	- -	- -	- -
3.1.2.	Cash flow hedges		-	-	-	-	-	-
3.1.3.	Hedges for investments made in foreign countries		-	-	-	-	-	-
3.2.	Trading transactions		99,007,740	929,108,370	1,028,116,110	169,401,542	800,941,256	970,342,798
3.2.1.	Forward foreign currency purchase and sale transactions		28,746,468	33,280,691	62,027,159	13,437,023	18,270,450	31,707,473
3.2.1.1.	Forward foreign currency purchase transactions		14,401,849	16,641,607	31,043,456	6,731,972	9,136,245	15,868,217
3.2.1.2.	Forward foreign currency sales		14,344,619	16,639,084	30,983,703	6,705,051	9,134,205	15,839,256
3.2.2. 3.2.2.1.	Currency and interest rate swaps Currency swap purchase transactions		66,804,164 10,435,686	620,495,936 172,276,308	687,300,100 182,711,994	146,286,235 3,312,843	587,973,637 231,294,703	734,259,872 234,607,546
3.2.2.2.	Currency swap sale transactions		54,738,478	208,142,618	262,881,096	141,123,392	122,833,151	263,956,543
3.2.2.3.	Interest rate swap purchase transactions		815,000	120,038,505	120,853,505	925,000	116,922,891	117,847,891
3.2.2.4.	Interest rate swap sale transactions		815,000	120,038,505	120,853,505	925,000	116,922,892	117,847,892
3.2.3.	Currency, interest rate and security options		2,372,154	3,984,800	6,356,954	8,508,530	8,647,024	17,155,554
3.2.3.1	Currency purchase options		1,657,832	1,605,780	3,263,612	8,508,530	304,758	8,813,288
3.2.3.2	Currency sale options		714,322	2,379,020	3,093,342	-	8,342,266	8,342,266
3.2.3.3	Interest rate purchase options		-	-	-	-	-	-
3.2.3.4 3.2.3.5	Interest rate sale options 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. 3.2.6.	Interest rate sales futures Other		- 1,084,954	- 271,346,943	- 272,431,897	- 1,169,754	- 186,050,145	- 187,219,899
B.	CUSTODY AND PLEDGED ITEMS (IV+V+VI)		34,776,006,285	27,365,115,431	62,141,121,716	26,581,415,298	21,432,985,703	48,014,401,001
IV.	ITEMS HELD IN CUSTODY		398,237,492	281,000,456	679,237,948	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		116,669,457	150,496,537	267,165,994	63,816,139	79,267,030	143,083,169
4.3.	Checks received for collection		104,515,017	4,651,568	109,166,585	86,170,197	3,367,156	89,537,353
4.4.	Commercial notes received for collection		68,745,919	11,869,963	80,615,882	47,371,511	7,928,256	55,299,767
4.5. 4.6.	Other assets received for collection Securities received for public offering		2,152 -	1,368 -	3,520 -	2,152 -	1,183 -	3,335 -
4.7.	Other items under custody		1,419,324	99,690,872	101,110,196	953,336	69,753,186	70,706,522
4.8.	Custodians		92,211,433	14,290,148	106,501,581	85,152,173	9,449,609	94,601,782
V.	PLEDGED ITEMS		4,984,002,657	1,425,185,848	6,409,188,505	4,329,713,990	1,033,151,407	5,362,865,397
5.1.	Marketable securities		575,978	3,129,109	3,705,087	398,290	4,906,082	5,304,372
5.2.	Guarantee notes		31,807,231	14,474,928	46,282,159	19,610,795	10,297,268	29,908,063
5.3.	Commodity		415,396,197	19,278,344	434,674,541	320,451,642	12,699,256	333,150,898
5.4.	Warrant		-	-	-	-	-	-
5.5. 5.6.	Immovables Other pledged items		3,996,377,065 539,432,764	1,166,446,216 221,715,166	5,162,823,281 761,147,930	3,497,221,552 491,647,668	841,937,410 163,143,400	4,339,158,962 654,791,068
5.7.	Depositories receiving pledged items		413,422	142,085	555,507	384,043	167,991	552,034
VI.	ACCEPTED GUARANTEES AND WARRANTEES		29,393,766,136	25,658,929,127	55,052,695,263	21,954,460,909	20,230,067,876	42,184,528,785
	TOTAL OFF BALANCE SHEET COMMITMENTS (A+B)		35,991,038,554	28,923,832,750	64,914,871,304	27,457,405,577	22,773,520,305	50,230,925,882

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI CONSOLIDATED STATEMENT OF PROFIT OR LOSS AS OF THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2024

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

		Notes	Current Period January 1, 2024- September 30, 2024	Current Period July 1, 2024- September 30, 2024	Prior Period January 1, 2023- September 30, 2023	Prior Period July 1, 2023- September 30, 2023
I.	INTEREST INCOME	V-IV-1	502,225,477	191,037,488	187,743,040	89,282,369
1.1	Interest on loans	V-IV-1	342,216,137	128,311,435	117,717,934	52,795,123
1.2	Interest received from reserve deposits		26,590,033	13,843,136	910,415	245,667
1.3	Interest received from banks	V-IV-1	1,365,601	484,545	1,006,717	329,221
1.4	Interest received from money market transactions		9,195,503	731,985	141,948	24,610
1.5	Interest received from marketable securities portfolio	V-IV-1	116,802,062	45,552,049	64,285,408	34,219,167
1.5.1	Financial assets at fair value through profit or loss		212,017	1,048	421,543	159,856
1.5.2	Financial assets at fair value through other comprehensive income		53,134,086	21,455,831	20,900,297	10,072,980
1.5.3	Financial assets measured at amortised cost		63,455,959	24,095,170	42,963,568	23,986,331
1.6	Finance lease interest income
			5,250,189	1,884,507	2,381,504	1,098,923
1.7	Other interest income		805,952	229,831	1,299,114	569,658
II.	INTEREST EXPENSES (-)	V-IV-2	439,907,547	168,939,210	160,416,152	72,553,162
2.1	Interest on deposits	V-IV-2	389,016,652	148,678,604	133,872,691	61,830,007
2.2	Interest on funds borrowed	V-IV-2	18,829,499	7,095,475	10,524,858	4,354,267
2.3	Interest on money market transactions		17,580,561	7,708,624	7,992,272	3,432,708
2.4	Interest on securities issued	V-IV-2	12,470,773	5,108,893	6,741,823	2,631,990
2.5	Leasing interest income		530,710	209,054	443,952	176,008
2.6	Other interest expenses		1,479,352	138,560	840,556	128,182
III.	NET INTEREST INCOME/EXPENSE (I - II)		62,317,930	22,098,278	27,326,888	16,729,207
IV.	NET FEES AND COMMISSIONS INCOME/EXPENSES		32,146,776	11,812,366	15,675,417	6,798,073
4.1	Fees and commissions received		45,492,790	16,824,310	20,046,688	8,872,313
4.1.1	Non-cash loans		3,859,270	1,340,079	2,269,403	901,753
4.1.2	Other		41,633,520	15,484,231	17,777,285	7,970,560
4.2	Fees and commissions paid (-)		13,346,014	5,011,944	4,371,271	2,074,240
4.2.1	Non-cash loans		85,527	22,475	66,994	37,237
4.2.2	Other		13,260,487	4,989,469	4,304,277	2,037,003
V.	DIVIDEND INCOME		123,283	1,462	51,550	39,523
VI.	TRADING PROFIT/LOSS (Net)	V-IV-3	(9,830,173)	657,094	18,844,247	6,112,936
6.1	Profit/losses from capital market transactions	V-IV-3	2,631,631	437,542	4,501,001	2,832,897
6.2	Profit/losses from derivative financial transactions	V-IV-3	(23,996,993)	(3,004,143)	3,596,713	932,671
6.3	Foreign exchange profit/losses	V-IV-3	11,535,189	3,223,695	10,746,533	2,347,368
VII. VIII.	OTHER OPERATING INCOME GROSS PROFIT FROM OPERATING ACTIVITIES	V-IV-4	51,309,424	8,944,092	35,447,236	4,262,922
	(III+IV+V+VI+VII)		136,067,240	43,513,292	97,345,338	33,942,661
IX.	ALLOWANCES FOR EXPECTED CREDIT LOSSES (-)	V-IV-5	33,838,471	9,142,357	33,336,066	11,161,531
X.	OTHER PROVISION EXPENSES (-)	V-IV-5	645,221	(889,364)	73,319	3,056
XI.	PERSONNEL EXPENSES (-)		21,370,912	8,191,548	10,794,250	4,193,357
XII.	OTHER OPERATING EXPENSES (-)	V-IV-6	33,164,001	11,488,476	29,703,285	6,262,445
XIII.	NET OPERATING PROFIT/LOSS (VIII-IX-X-XI-XII)		47,048,635	15,580,275	23,438,418	12,322,272
XIV.	SURPLUS WRITTEN AS GAIN AFTER MERGER		-	-	-	-
	PROFIT/LOSS FROM EQUITY METHOD APPLIED
XV.	SUBSIDIARIES
			638,840	244,468	446,081	164,070
XVI.	NET MONETORY POSITION GAIN/LOSS		-	-	-	-
XVII.	PROFIT/LOSS BEFORE TAXES FROM CONTINUING OPERATIONS (XIII++XVI)	V-IV-7	47,687,475	15,824,743	23,884,499	12,486,342
XVIII.	PROVISION FOR TAXES ON INCOME FROM CONTINUING
	OPERATIONS (±)	V-IV-8	(9,019,611)	(3,985,820)	(4,986,205)	(1,936,886)
18.1	Current tax provision	V-IV-10	(2,638,551)	7,104,926	(2,259,567)	(593,945)
18.2	Expense effect of deferred tax (+)	V-IV-10	(17,920,903)	(13,921,328)	(12,663,033)	(5,069,699)
18.3	Income effect of deferred tax (-)	V-IV-10	11,539,843	2,830,582	9,936,395	3,726,758
XIX.	NET PROFIT/LOSS FROM CONTINUING OPERATIONS (XVII±XVIII)	V-IV-9	38,667,864	11,838,923	18,898,294	10,549,456
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	38,667,864	11,838,923	18,898,294	10,549,456
25.1	Group's profit/(loss)		34,877,744	10,611,306	18,286,895	10,397,539
25.2	Profit /(Loss) from Minority shares (-)		3,790,120	1,227,617	611,399	151,917
	Profit/Loss per 100 shares (full TL)	III-XXIV	3.8996	1.1940	1.9871	1.0639

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME AS OF THE NINE-MONTH PERIOD ENDED SEPTEMBER 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- September 30, 2024	Prior Period January 1, 2023- September 30, 2023
I.	PROFIT (LOSS)	38,667,864	18,898,294
II.	OTHER COMPREHENSIVE INCOME	505,591	(2,114,104)
2.1.	Other comprehensive income that will not be reclassified to profit or loss	(441,105)	329,564
2.1.1.	Gains (Losses) on Revaluation of Property, Plant and Equipment	(11,179)	(18,701)
2.1.2.	Gains (losses) on revaluation of Intangible Assets	-	-
2.1.3.	Gains (losses) on remeasurements of defined benefit plans	(3,334)	(6,437)
2.1.4.	Other Components of Other Comprehensive Income That Will Not Be Reclassified to Profit or Loss	(908,472)	142,154
2.1.5.	Taxes Relating to Components of Other Comprehensive Income That Will Not Be Reclassified to Profit or Loss	481,880	212,548
2.2.	Other Comprehensive Income That Will Be Reclassified to Profit or Loss	946,696	(2,443,668)
2.2.1.	Exchange Differences on Translation	414,698	707,530
2.2.2.	Valuation and/or Reclassification Profit or Loss from financial assets at fair value through other comprehensive
	income	143,025	(3,199,475)
2.2.3.	Income (Loss) Related with Cash Flow Hedges	-	-
2.2.4.	Income (Loss) Related with Hedges of Net Investments in Foreign Operations	267,290	(353,530)
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	121,683	401,807
III.	TOTAL COMPREHENSIVE INCOME (I+II)	39,173,455	16,784,190

TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY AS OF THE NINE-MONTH PERIOD ENDED SEPTEMBER 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 September 30, 2024
I.	Prior Period End Balance Corrections and Accounting			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.	Policy Changes Made According to TAS 8		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2.1.	Effects of Corrections Effects of the Changes in		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2.2.	Accounting Policies Adjusted Beginning		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
III. IV.	Balance (I+II) Total Comprehensive Income		-	9,915,922 45,589,989 -	- -	-	(427,009) 11,966,716 463,024	(1,955,463) (2,980)	5,220,355 (906,164)	2,644,546 414,698	5,671,208 142,380	389,618	(675,052) 62,087,804 -	35,229,085	- 34,877,744	- 175,268,101 35,378,320	5,607,597 3,795,135	180,875,698 39,173,455
V.	Capital Increase by Cash Capital Increase by Internal		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
VI.	Resources Paid-in capital inflation		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
VII.	adjustment difference VIII. Convertible Bonds		- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
IX.	Subordinated Debt Instruments		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
X.	Increase/Decrease by Other Changes		-	11,524	-	937,442	-	-	-	-	-	-	(423,461)	(123,296)	-	402,209	(348,636)	53,573
XI.	Profit Distribution 11.1. Dividends paid		- -	- -	- -	8,359 -	- -	- -	- -	- -	- -	-	- 27,790,683 -	(28,001,518) -	- -	(202,476) -	625,193 (71)	422,717 (71)
	11.2. Transfers to Reserves 11.3. Other		- -	- -	- -	- 8,359	- -	- -	- -	- -	- -	-	- 27,707,160 83,523	(27,931,364) (70,154)	- -	(224,204) 21,728	625,264 -	401,060 21,728
	Ending Balance			9,915,922 45,601,513	-		518,792 12,429,740	(1,958,443)	4,314,191	3,059,244	5,813,588		(285,434) 89,455,026		7,104,271 34,877,744 210,846,154		9,679,289	220,525,443

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 CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY AS OF THE NINE-MONTH PERIOD ENDED SEPTEMBER 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 September 30, 2023
I.	Prior Period End Balance Corrections and Accounting			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
II.	Policy Changes Made According to TAS 8		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2.1.	Effects of Corrections Effects of the Changes in		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
2.2.	Accounting Policies Adjusted Beginning		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
III. IV.	Balance (I+II) Total Comprehensive Income		-	7,111,364 16,469,500 -	- -	(63,177) -	3,381,054 171,492	(800,579) 47,549	2,924,446 104,198	1,490,653 707,530	10,802,217 (3,002,153)	(149,045)	(328,089) 37,480,709 -	27,311,639	- 18,286,895	- 105,779,737 16,166,466	2,882,654 617,724	108,662,391 16,784,190
V.	Capital Increase by Cash Capital Increase by Internal			2,804,558 29,120,489	-	-	-	-	-	-	-	-	-	-	-	31,925,047	-	31,925,047
VI.	Resources Paid-in capital inflation		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
VII.	adjustment difference VIII. Convertible Bonds		- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
IX.	Subordinated Debt
X.	Instruments Increase/Decrease by Other		-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
XI.	Changes Profit Distribution		- -	(282,791) -	- -	(364,182) 1,197	- -	- -	- -	- -	- -	-	175,452 - 24,346,128	(31,286) (24,348,239)	- -	(502,807) (914)	318,198 (1,814)	(184,609) (2,728)
	11.1. Dividends paid 11.2. Transfers to Reserves		- -	- -	- -	- -	- -	- -	- -	- -	- -	-	- - 24,333,957	(908) (24,333,963)	- -	(908) (6)	(1,814) -	(2,722) (6)
	11.3. Other Ending Balance		-	- 9,915,922 45,307,198	- -	1,197 (426,162)	- 3,552,546	- (753,030)	- 3,028,644	- 2,198,183	- 7,800,064	-	12,171 (477,134) 62,002,289	(13,368)	- 2,932,114 18,286,895 153,367,529	-	- 3,816,762	- 157,184,291

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 CONSOLIDATED STATEMENT OF CASH FLOW AS OF THE NINE-MONTH PERIOD ENDED SEPTEMBER 30, 2024 (Amounts expressed in thousands of Turkish Lira ("TL") unless otherwise stated.)

		Notes	Current Period September 30, 2024	Prior Period September 30, 2023
A.	CASH FLOWS FROM BANKING OPERATIONS
1.1	Operating profit before changes in operating assets and liabilities		36,468,569	57,882,162
1.1.1	Interest received		451,236,543	176,267,876
1.1.2	Interest paid		(436,280,572)	(159,187,685)
1.1.3	Dividends received		123,283	51,550
1.1.4	Fee and commissions received		35,394,820	12,403,734
1.1.5	Other income		15,792,719	4,662,744
1.1.6	Collections from previously written off loans and other receivables		5,749,742	3,925,609
1.1.7	Cash payments to personnel and service suppliers		(23,545,688)	(11,924,978)
1.1.8	Taxes paid		(11,915,120)	(1,475,811)
1.1.9	Other		(87,158)	33,159,123
1.2	Changes in operating assets and liabilities subject to banking operations		109,737,708	208,232,379
1.2.1	Net (Increase) Decrease in Financial Assets at Fair Value through Profit or Loss		32,864,597	(14,040,278)
1.2.2	Net increase (decrease) in due from banks		(65,534,479)	37,331,140
1.2.3	Net increase (decrease) in loans		(275,503,690)	(324,730,334)
1.2.4	Net increase (decrease) in other assets		(74,953,322)	(18,036,123)
1.2.5	Net increase (decrease) in bank deposits		(31,327,335)	(10,797,489)
1.2.6	Net increase (decrease) in other deposits		341,435,170	486,809,377
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		32,355,810	18,736,177
1.2.9	Net increase (decrease) in matured payables		-	-
1.2.10	Net increase (decrease) in other liabilities		150,400,957	32,959,909
I.	Net cash flow provided from banking operations		146,206,277	266,114,541
B.	CASH FLOWS FROM INVESTING ACTIVITIES
II.	Net cash provided from investing activities		(65,777,711)	(187,942,127)
2.1	Cash paid for the purchase of associates, subsidiaries and joint ventures		-	(312,751)
2.2	Cash obtained from the sale of associates, subsidiaries and joint ventures		6,178	-
2.3	Cash paid for the purchase of tangible and intangible asset		(8,566,124)	(8,470,153)
2.4	Cash obtained from the sale of tangible and intangible asset		1,242,038	5,073,348
2.5	Cash paid for the purchase of financial assets at fair value through other comprehensive
	income		(108,970,573)	(80,568,769)
2.6	Cash obtained from the sale of financial assets at fair value through other
	comprehensive income		20,461,052	8,423,478
2.7	Cash paid for the purchase of financial assets at amortized cost		(1,298,353)	(126,283,530)
2.8	Cash obtained from sale of financial assets at amortized cost		31,837,437	14,650,808
2.9	Other		(489,366)	(454,558)
C.	CASH FLOWS FROM FINANCING ACTIVITIES
III.	Net cash flows from financing activities		106,628,127	44,984,463
3.1	Cash obtained from funds borrowed and securities issued		116,052,646	55,303,951
3.2	Cash outflow from funds borrowed and securities issued		(8,150,144)	(9,874,793)
3.3	Equity instruments issued		-	142,000
3.4	Dividends paid		-	-
3.5	Payments for finance lease liabilities		(1,274,375)	(586,695)
3.6	Other		-	-
IV.	Effect of change in foreign exchange rate on cash and cash equivalents		53,232	718,112
V.	Net increase/decrease in cash and cash equivalents		187,109,925	123,874,989
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		523,792,914	253,554,142