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Vakıf Katılım announced the financial results for the first half of the year 2020 and declared tthat it has provided 34,5 billion TL worth of cash and non-cash financing support to the real sector.
Having brought together the sharing culture of foundations with public power and brought a breath of fresh air to participation finance world, Vakıf Katılım announced the financial results for the first half of the year 2020 in Public Disclosure Platform (KAP) and announced 283 million TL profit within the first half of 2020.
The asset size increased by 44,1% and reached TRY 43,7 billion and collected funds increased by 41,4% and reached TRY 32,4 billion in the first half of the year 2020 TL. Vakıf Katılım increased its support to the real sector through both strong funding sources and shareholders’ equity and provided TRY 34,5 billion cash and non-cash funds in total. In his statement, İkram Göktaş, the General Manager of Vakıf Katılım, said that “When we achieve this growth, we made use of our technological possibilities and received the great support from our fellow workers as well”.
“We provide services for the benefit of the society”
Stating that they always stand by the society pursuant to their founding philosophy, Mr. Göktaş further emphasized that they provided service with this mentality during the pandemic period and said that: “As one of the leading representatives of the foundation culture, Vakıf Katılım has adopted serving the public as principle with all of its employees. We took over and shouldered responsibility during the coronavirus outbreak. As Vakıf Katılım family, we actively took part in the Economic Stability Shield Package, which was declared by the Ministry of Treasury and Finance to eliminate the effects of the pandemic on the national economy and to provide life line support to many sectors”.
“Different packages were implemented”
Mr. Göktaş provided detailed information about the financial support packages implemented within the scope of fight against Covid-19 epidemic and expressed that “We created different packages for natural and legal person enterprises and retail customers. We put “Work Continuation Financing Support” and “Check Payment Support Financing” products with Treasury-Backed CGF surety into use for natural and legal person enterprises. With “Personal Support Financing” product under the guarantee of CGF, we provided approximately 3.5 billion Turkish Liras financing support to our retail customers. We also created financing opportunities for our SMEs, which are mostly affected by the Coronavirus outbreak and stood by many sectors especially manufacturing, wholesale and retail trade, agriculture, construction etc.”
“TRY 3,3 billion worth of support to SMEs”
İkram Göktaş, the General Manager of Vakıf Katılım, further stated that: “We provided approximately 4,5 billion Turkish Liras support in line with the “Economic Stability Shield Package” and other packages introduced by the Government. In this context, we have made a great effort and provided 4.5 billion Turkish Lira fund to our economy. 3,3 billion TL of this fund has been transferred only to small and medium scale enterprises defined as SME. By doing this, our main purpose was to keep the wheels of the economy turning, maintain the trade and to promote and improve manufacturing industry and export. However, when we provide this support, we asked our customers to contribute to the national economy but not to prefer decrease in employment. We have never refrained from taking responsibility to maintain the environment of economic stability”.
“We provided life line support to housing market”
Stating that they have also provided great support to housing market which has experienced a period of recession in Turkey and is adversely affected by the pandemic period, Mr. Göktaş stated that: “We have provided long-term housing finance with 1-year grace period. With the spirit of cooperation, we have provided support for both construction sector and our customers who dream of being a home owner as well. We have made great effort to make our customers own their own houses with our housing finance packages which prioritize ease of payment. With our favorable housing finance rates, we have provided life line support for the construction sector and enabled them to take a breath and see the future of their business”.