According to 2019 year-end data provided by TKBB (Participation Banks Association of Turkey); Vakıf Katılım was the leader participation bank with the highest domestic TL lease certificate issuance in finance sector and received new lease certificate issuance ceiling approval of 12 billion TL from CMB for the year 2020.
Given the total domestic TL lease certificate issuances in year 2019; Vakıf Katılım was the leader participation bank with the highest lease certificate issuance.
Having continued its operations with the objective to bring together the sharing culture of foundations with public power and to bring a breath of fresh air to participation banking world, Vakıf Katılım carried out two lease certificates of 630 million TL with 76-day maturity through sale to qualified investors in 16th of January 2020 via its subsidiary Vakıf Varlık Kiralama A.Ş. as a result of high demand. Vakıf Katılım, which leads the drive for the introduction of capital market instruments in participation banking sector, carried out one more successful lease certificate (sukuk) issuance.
‘’Our objective is to grow our national economy’’
İkram Göktaş, the General Manager of Vakıf Katılım, stated in his statement that: “As Vakıf Katılım, our primary objective is to not only achieve a bigger market share in the participation banking sector but also grow the overall sector and economy. We have been exerting a great effort to attract more investors from the home country and abroad thereby including them in our participation finance system, diversify our funding sources and channel the collected funds to more people. In line with this objective, we collected about 9 billion funding source from our qualified investors in 36 stages in year 2019 and we currently have lease certificate in the amount of 2.6 billion TL in circulation as of 16th of January 2020.”
“We carried out the lease certificate issuance of 16.6 billion TL in the last two and a half years"
Having stated that Vakıf Katılım carried out the lease certificate issuance of 16.6 billion TL in 77 stages in the last two and a half years, Mr. Göktaş further stated that: “with our lease certificate issuances started in year 2017, we carried out 70 issuances via our affiliate Vakıf Varlık Kiralama A.Ş. and reached 15.7 billion TL. On the other hand, we mediated the use of participation banking capital market instruments by private sector companies with the fund of 903 million TL collected through 7 issuances via our affiliate Vakıf Varlık Kiralama A.Ş. Thanks to new lease certificate issuances that we plan in certain sectors in the forthcoming period, we will diversify and enrich the funding sources of our qualified firms and support our national economy with capital market instruments in line with the principles of the participation finance”.
‘’Our product and service range will become diversified’’
Mr. Göktaş continued his statement as follows: ‘’We wish to increase the number of our retail and SME customers, diversify our current product and service range and introduce more people into participation banking system. In this scope, we will preserve our strong balance sheet structure and continue to grow fast with firm steps. Furthermore, we plan to continue our branching activities and extend our coverage area.’’
‘’Strategic Projects are of Top Priority’’
‘’We will uninterruptedly continue to concentrate on the strategic sectors prioritized by our state and to finance strategic projects. We will continue to support investment projects in the fields of mining, energy raw materials, domestic power generation equipment, renewable energy and nuclear energy projects in order to reduce foreign dependency on energy.’’
‘’We crowned with awards’’
‘’After 2nd Economy Summit held in 2019, we have been awarded “Turkey’s Most Successful Participation Bank” at the Gold Values Award and “The Most Reputable Participation Bank of the Year” at “The ONE Awards Integrated Marketing Awards” organized with the cooperation of Marketing Turkey and Akademetre. In the forthcoming periods, we will continue our operations in line with our objectives with a great effort and put our signature under the activities which will grow not only our Bank but also our sector as well.”