Capital Increase from Vakıf Katılım

Vakıf Katılım increased its capital, which is formerly 3.22 billion TL, to 5.72 billion TL. Öztürk Oran, the Chairman of the Board of Vakıf Katılım, made a statement in this matter and stated that “As Vakıf Katılım, we have been trying to make use of all our financial resources with the responsibility of furthering Turkey's economic and social development since day one. With this capital increase, we are so glad to have the opportunity to provide more added value to our country.”

Vakıf Katılım’s Board of Directors approved the increase of the Bank’s paid-in capital by 2.5 billion TL from 3.22 billion TL to 5.72 billion TL as of February 17, 2021. It was resolved that the increased amount of 2.5 billion TL would be covered by the shareholders in proportion to their shares.

It was stated in the Public Disclosure Platform announcement made by Vakıf Katılım that, "The decision of our Board of Directors dated February 17, 2021, regarding the increase of the issued capital of our Bank, which was 3,220,000,000 TL, by 2,500,000,000 TL, thus designating the issued share capital of our Bank as 5,720,000,000 TL within the registered equity ceiling of 16,100,000,000 TL has been registered by the Istanbul Trade Registry Directorate on 18/02/2021."

“We are so glad to have the opportunity to provide more added value to our country”

Öztürk Oran, the Chairman of the Board of Vakıf Katılım, made a statement in this matter and stated that “As Vakıf Katılım, we have been trying to make use of all our financial resources with the responsibility of furthering Turkey's economic and social development since day one. With this capital increase, we are so glad to have the opportunity to provide more added value to our country.”

We derive strength from our faith in our country’s future”

Emphasizing that they experienced difficulties during last year due to pandemic conditions but Vakıf Katılım continued to work without compromising its objectives, Öztürk Oran, the Chairman of the Board, continued his words: “We have left a difficult year behind. During this period, we had quite an achievement by maintaining our activities that will contribute to the development of both our sector and our country. By the end of 2020, our asset size increased by 75.2% compared to the previous year. According to the data of the Participation Banks Association of Turkey (TKBB), considering the bank lease certificate issuances between 2017-2020, Vakıf Katılım is taking firm steps towards its vision to become a "reference institution" as the "Leading Participation Finance Institution" with a total of TRY 25 billion volume through 110 issuances in the last 3.5 years. We were awarded by the Turkish Capital Markets Association in 2020 for being the highest TRY sukuk-issuing institution domestically in 2019 among all participation and conventional finance institutions. We became the financial institution with the highest transaction volume with approximately 6 tons of bar gold exports in 2020 according to the report published by Jewellery Exporters' Association. Furthermore, as Vakıf Katılım, we kept the leading position in 2020, as we did in 2019, with the highest volume of gold and silver in Istanbul Stock Exchange Precious Metals and Stones Market. We derived our strength from our faith in our country’s future. We will continue our value-creating activities non-stop in the upcoming period.”