Vakifbank

Turkiye Vakyflar Bankasy T.A.O., together with its subsidiaries, provides corporate, retail, commercial, and investment banking services in Turkey and internationally. It offers various deposit products, such as saving deposits, foreign currency deposits, demand deposits, public sector deposits, commercial deposits, and precious metals deposits. The company’s loan portfolio includes personal loans, including credit cards; commercial loans; loans to small and medium sized enterprises; foreign bank sourced loans; export loans; import loans; loans to financial sector; precious metals loans; and specialization loans. Turkiye Vakyflar also engages in foreign exchange operations, money market operations, and marketable security transactions, as well as offers leasing services, predominantly for transportation services, machinery and equipment, medical equipment, tourism equipment, and office equipment, and to the maritime industry for dry cargo and ro-ro vessels. In addition, the company provides insurance services, including fire, accident, engineering, legal, and life insurance services; private pension fund services; factoring services; and underwriting services. Further, Turkiye Vakyflar offers securities brokerage services, investment advisory services, and portfolio management services, as well as conducts trading of securities under repurchase and reverse repurchase agreements. The company also owns and operates tourism facilities, hotels, and motels; establishes plants and facilities for generating electric energy and heat energy; generates and sells electricity and heat energy; installs, imports, and exports electronic devices, equipment, and systems; and markets stationery materials. As of December 31, 2006, it operated a network of 427 domestic branches, and one branch each in New York and Bahrain. Turkiye Vakyflar also has operations in Austria and Cyprus. The company was founded in 1954 and is headquartered in Ankara, Turkey.