Income Statement Türkiye Vakiflar Bankasi Türk Anonim Ortakligi

Equities

VAKBN

TREVKFB00019

Banks

Market Closed - Borsa Istanbul Other stock markets 19:09:48 21/01/2026 +04			5-day change	1st Jan Change
34.58 ^TRY	+2.49%		+9.57%	+12.71%

12-23	Vakifbank signs loan agreement with Asian Infrastructure Investment Bank for $300 million	RE
12-18	Vakifbank says board resolves to issue up to 5 bln USD green/sustainability themed debt instrument	RE

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Published financial data: TÜRKIYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIGI

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Interest Income On Loans	37.33B	53.52B	87.86B	206B	488B
Interest Income On Investments	10.69B	19.82B	73.58B	115B	257B
Interest Income, Total	48.02B	73.34B	161B	321B	745B
Interest On Deposits	16.47B	31.01B	60.71B	224B	556B
Total Interest On Borrowings	11.14B	21.98B	24.93B	39.37B	82.42B
Interest Expense, Total	27.61B	52.99B	85.64B	264B	638B
Net Interest Income	20.41B	20.35B	75.81B	57.53B	107B
Income From Trading Activities	58.34M	-6.2B	1.29B	867M	-22.95B
Gain (Loss) on Sale of Assets	705M	949M	1.09B	774M	4.67B
Gain (Loss) on Sale of Invest. & Securities - (Rev)	-21.92M	-26.43M	-29.18M	-104M	-693M
Total Other Non Interest Income	7.93B	13.82B	24.46B	84.6B	115B
Non Interest Income, Total	8.68B	8.55B	26.81B	86.14B	95.78B
Revenues Before Provison For Loan Losses	29.09B	28.9B	103B	144B	203B
Provision For Loan Losses	11.62B	11.94B	27.2B	50.29B	45.92B
Total Revenues	17.47B	16.95B	75.41B	93.38B	157B
Salaries And Other Employee Benefits	3.48B	4.13B	7.47B	15.66B	30.92B
Amort. of Goodwill & Intang. Assets	-	-	-	-	-
Occupancy Expense	-	-	-	-	-
Selling General & Admin Expenses, Total	336M	515M	893M	1.29B	3.4B
(Income) Loss on Equity Invest.	-62.03M	-93.68M	-342M	-615M	-918M
Total Other Non Interest Expense	5.73B	5.78B	27.26B	40.71B	50.09B
Non Interest Expense, Total	9.48B	10.33B	35.28B	57.06B	83.49B
EBT, Excl. Unusual Items	7.99B	6.62B	40.13B	36.32B	73.86B
Asset Writedown	-4.79M	-	-17.75M	-2.3M	-2.27M
EBT, Incl. Unusual Items	7.98B	6.62B	40.11B	36.32B	73.86B
Income Tax Expense	1.58B	1.29B	13.64B	2.23B	20.54B
Earnings From Continuing Operations	6.41B	5.34B	26.47B	34.09B	53.32B
Net Income to Company	6.41B	5.34B	26.47B	34.09B	53.32B
Minority Interest	-69.93M	-170M	-655M	-2.43B	-4.12B
Net Income - (IS)	6.34B	5.17B	25.81B	31.66B	49.19B
Net Income to Common Incl Extra Items	6.34B	5.17B	25.81B	31.66B	49.19B
Net Income to Common Excl. Extra Items	6.34B	5.17B	25.81B	31.66B	49.19B
Per Share Items
Net EPS - Basic	1.9	1.37	4.01	3.52	5.38
Basic EPS - Continuing Operations	1.9	1.37	4.01	3.52	5.38
Basic Weighted Average Shares Outstanding	3.34B	3.78B	6.44B	9B	9.15B
Net EPS - Diluted	1.9	1.37	4.01	3.52	5.38
Diluted EPS - Continuing Operations	1.9	1.37	4.01	3.52	5.38
Diluted Weighted Average Shares Outstanding	3.34B	3.78B	6.44B	9B	9.15B
Normalized Basic EPS	1.47	1.05	3.79	2.25	4.59
Normalized Diluted EPS	1.47	1.05	3.79	2.25	4.59
Payout Ratio	-	-	-	-	-
American Depositary Receipts Ratio (ADR)	10	10	10	10	10
Supplemental Items
Effective Tax Rate - (Ratio)	19.75	19.43	34.02	6.14	27.81
Total Current Taxes	2.04B	391M	20.04B	10.38B	10.55B
Total Deferred Taxes	-460M	896M	-6.4B	-8.15B	9.99B
Normalized Net Income	4.92B	3.97B	24.42B	20.27B	42.04B
Non-Cash Pension Expense	95.74M	138M	218M	-	273M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	56.93B	115B	148B	376B	753B
Investment Securities, Total	86.37B	214B	347B	606B	928B
Trading Asset Securities, Total	28.17B	23.46B	34.73B	64.29B	29.06B
Total investments	115B	237B	382B	671B	957B
Gross Loans	450B	609B	976B	1,569B	2,106B
Allowance For Loan Losses	-22.15B	-26.59B	-42.46B	-62.72B	-69.82B
Other Adjustments to Gross Loans	-577M	-730M	-2.6B	-7.14B	-9.36B
Net Loans	428B	582B	931B	1,499B	2,026B
Gross Property Plant And Equipment	6.9B	6.57B	14.51B	30.15B	45.32B
Accumulated Depreciation	-2.01B	-2.43B	-2.83B	-3.58B	-5.13B
Net Property Plant And Equipment	4.9B	4.14B	11.68B	26.57B	40.19B
Goodwill	14.63M	14.63M	14.63M	9.74M	3.29M
Other Intangibles, Total	259M	285M	455M	911M	1.35B
Investment in Real Estate	502M	972M	1.31B	8.87B	18.8B
Other Receivables	-	-	-	6.14M	884M
Restricted Cash	39.57B	57.63B	161B	144B	217B
Other Current Assets, Total	47.47B	755M	411M	263M	1.08B
Deferred Tax Assets Long-Term (Collected)	1.23B	72.77M	3.06B	11.12B	4.9B
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	18.94B	30.81B	67.26B	122B	72.93B
Total Assets	712B	1,029B	1,707B	2,859B	4,094B
Liabilities
Accrued Expenses, Total	-	-	-	-	-
Interest Bearing Deposits	384B	547B	1,033B	1,829B	2,342B
Non-Interest Bearing Deposits	33.24B	49.15B	98.8B	151B	217B
Total Deposits	418B	596B	1,132B	1,979B	2,560B
Short-Term Borrowings	19.7B	19.69B	25.49B	39.14B	56.58B
Current Portion of Long-Term Debt	135B	168B	178B	184B	517B
Current Portion of Leases	23.61M	46.36M	370M	2.84B	139M
Long-Term Debt	70.5B	156B	175B	316B	536B
Long-Term Leases	955M	912M	654M	28.75M	5.29B
Current Income Taxes Payable	955M	1.1B	5.41B	12.1B	11.01B
Other Current Liabilities - (Bank / Utility Template)	-	-	-	-	-
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	1.56B	1.78B	3.77B	7.22B	10.81B
Deferred Tax Liability Non-Current	57.63M	14.72M	56.4M	118M	2.17B
Other Non Current Liabilities	19.17B	30.88B	79.86B	138B	158B
Total Liabilities	665B	975B	1,601B	2,678B	3,857B
Common Stock, Total	3.91B	3.91B	7.11B	9.92B	9.92B
Additional Paid In Capital	6.3B	6.3B	16.47B	45.59B	45.6B
Retained Earnings	33.25B	38.37B	63.73B	97.32B	146B
Comprehensive Income and Other	2.95B	4.41B	17.41B	22.45B	24.78B
Total Common Equity	46.41B	52.98B	105B	175B	226B
Minority Interest	747M	1.22B	1.81B	5.61B	10.1B
Total Equity	47.15B	54.2B	107B	181B	236B
Total Liabilities And Equity	712B	1,029B	1,707B	2,859B	4,094B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	3.91B	3.91B	7.11B	9.92B	9.92B
ECS Total Common Shares Outstanding	3.91B	3.91B	7.11B	9.92B	9.92B
Book Value / Share	11.88	13.57	14.73	17.68	22.8
Tangible Book Value	46.13B	52.69B	104B	174B	225B
Tangible Book Value Per Share	11.81	13.49	14.66	17.58	22.67
Total Debt	226B	345B	379B	542B	1,116B
Deposits at Interest - Cash	52.48B	95.02B	116B	-	673B
Net Debt	115B	117B	106B	29.33B	18.04B
Equity Method Investments, Total	1.88B	2.83B	5.03B	8.03B	11.23B
Full Time Employees	16.75K	16.93K	16.96K	17.26K	18.21K
Number Of Offices	936	940	949	-	963
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	6.34B	5.17B	25.81B	31.66B	49.19B
Depreciation, Depletion & Amortization	473M	482M	574M	947M	2.03B
Amortization of Goodwill and Intangible Assets - (CF)	37.4M	47.12M	56.46M	90.02M	155M
Total Depreciation, Depletion & Amortization	511M	529M	630M	1.04B	2.18B
Change in Trading Asset Securities	-5.1B	-9.01B	-747M	-17.24B	32.85B
Change in Other Net Operating Assets (Collected)	-97.09B	-25.46B	-405B	-392B	-357B
Other Operating Activities	-1.73B	645M	21.51B	50.76B	28.97B
Cash from Operations	-97.07B	-28.12B	-358B	-326B	-244B
Capital Expenditure	-2.87B	-2.99B	-7.25B	-30.6B	-9.94B
Sale of Property, Plant, and Equipment	1.08B	2.06B	2.46B	9.65B	2.5B
Cash Acquisitions	-86.91M	-100M	-188M	-352M	-
Divestitures	700K	-	1.75M	-	6.18M
Purchase / Sale of Intangible Assets	-79.57M	-50.84M	-229M	-	-
Investment in Marketable and Equity Securities, Total	-61.53B	-13.7B	-39.65B	-197B	-69.89B
Other Investing Activities, Total	-	-	-	-548M	-567M
Cash from Investing	-63.48B	-14.78B	-44.85B	-218B	-77.89B
Long-Term Debt Issued, Total	36.07B	39.56B	20.65B	66.53B	147B
Total Debt Issued	36.07B	39.56B	20.65B	66.53B	147B
Long-Term Debt Repaid, Total	-20.13B	-14.83B	-20.57B	-11.76B	-10.87B
Total Debt Repaid	-20.13B	-14.83B	-20.57B	-11.76B	-10.87B
Issuance of Common Stock	7B	-	-	3.01B	-
Common Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-	-	-	-	-
Net Increase (Decrease) in Deposit Accounts - (CF)	162B	55.62B	433B	693B	555B
Other Financing Activities, Total	-	-603K	-	-	-
Cash from Financing	185B	80.36B	433B	750B	691B
Foreign Exchange Rate Adjustments	25.61M	5.94B	366M	968M	-966M
Net Change in Cash	24.5B	43.39B	30.69B	207B	368B
Supplemental Items
Cash Interest Paid	27.59B	52.31B	83.69B	260B	631B
Cash Income Tax Paid (Refund)	2.46B	2.79B	16.63B	2.3B	13.76B
Net Debt Issued / Repaid	15.94B	24.73B	79.22M	54.77B	136B

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.12	0.61	1.93	1.49	1.53
Return On Equity %	15.88	10.53	32.93	23.55	25.57
Return on Common Equity	16.03	10.4	32.73	22.53	24.51
Shareholders Value Added	1.63B	-750M	16.41B	14.88B	25.27B
Margin Analysis
SG&A Margin	21.37	26.62	10.83	17.71	21.3
Net Interest Income / Total Revenues %	116.84	120.02	100.53	61.61	68.31
EBT Excl. Non-Recurring Items Margin %	45.73	39.06	53.21	38.9	46.94
Income From Continuing Operations Margin %	36.68	31.47	35.1	36.5	33.88
Net Income Margin %	36.28	30.47	34.23	33.9	31.26
Net Avail. For Common Margin %	36.28	30.47	34.23	33.9	31.26
Normalized Net Income Margin	28.18	23.41	32.39	21.71	26.72
Asset quality
Nonperforming Loans / Total Loans %	3.98	3.14	2.13	-	1.82
Nonperforming Loans / Total Assets %	2.52	1.86	1.22	-	0.94
Nonperforming Assets / Total Assets %	2.52	1.86	1.22	-	0.94
NPAs / Loans and OREO	3.98	3.14	2.13	-	1.82
NPAs / Equity	38.03	35.31	19.56	-	16.27
Allowance for Credit Losses / Net Charge-offs %	-593.76	-983.91	-3.45K	-	-557.52
Allowance for Credit Losses / Nonperforming Loans %	123.51	138.95	203.79	-	181.7
Allowance for Credit Losses / Total Loans %	4.92	4.36	4.35	4	3.32
Provision for Loan Losses / Net Charge-offs %	-311.48	-441.78	-2.21K	-	-366.64
Capital And Funding
Total Average Common Equity / Total Average Assets %	6.91	5.71	5.76	6.15	5.77
Total Average Equity / Total Average Assets %	7.05	5.82	5.87	6.34	6
Total Equity + Allowance for Loan Losses / Total Loans %	15.22	13.06	15.08	15.17	14.05
Gross Loans / Total Deposits %	107.89	102.3	86.2	79.26	82.26
Net Loans / Total Deposits %	102.44	97.71	82.22	75.73	79.17
Tier 1 Capital Ratio %	14.1	12.79	12.73	-	13.82
Total Capital Ratio %	16.05	14.72	14.34	-	16.34
Core Tier 1 Capital Ratio	11.34	9.98	10.82	-	11.44
Tier 2 Capital Ratio	1.96	1.93	1.61	-	2.52
Coverage Ratio	123.51	138.95	203.79	-	181.7
Interbank Ratio	1.77	7.77	8.3	12.96	8.1
Fixed Charges Coverage
EBT + Interest on Borrowings / Interest on Borrowings	1.72	1.3	2.61	1.92	1.9
EBT + Interest Expense / Interest Expense	1.29	1.12	1.47	1.14	1.12
Growth Over Prior Year
Net Interest Income, 1 Yr. Growth %	47.87	-0.31	272.54	-24.11	86.85
Non Interest Income, 1 Yr. Growth %	18.23	9.79	213.66	204.14	11.19
Provision For Loan Losses, 1 Yr. Growth %	39.01	2.79	127.81	84.86	-8.69
Total Revenues, 1 Yr. Growth %	36.65	2.26	344.79	21.39	68.51
Earnings From Cont. Operations, 1 Yr. Growth %	82.61	-16.73	396.03	21.82	56.41
Net Income, 1 Yr. Growth %	88.09	-18.49	399.65	19.17	55.4
Normalized Net Income, 1 Yr. Growth %	84.19	-19.38	515.32	-17.63	107.4
Diluted EPS Before Extra, 1 Yr. Growth %	40.88	-28.04	193.38	-16.64	52.8
Gross Loans, 1 Yr. Growth %	49.95	35.31	60.12	60.76	34.21
Allowance For Loan Losses, 1 Yr. Growth %	37.83	20.09	59.66	47.72	11.32
Net Loans, 1 Yr. Growth %	50.68	36.1	59.9	61.04	35.18
Non Performing Loans, 1 Yr. Growth %	1.23	6.75	8.86	-	85.04
Non Performing Assets, 1 Yr. Growth %	1.23	6.75	8.86	-	85.04
Total Assets, 1 Yr. Growth %	64.44	44.49	65.91	67.29	43.17
Total Deposits, 1 Yr Growth %	64.29	42.7	90.01	74.85	29.31
Tangible Book Value, 1 Yr. Growth %	42.19	14.21	97.87	65.56	28.91
Common Equity, 1 Yr. Growth %	41.99	14.18	97.64	65.69	29
Total Equity, 1 Yr. Growth %	40.53	14.95	96.54	66.46	30.59
Compound Annual Growth Rate Over Two Years
Net Interest Income, 2 Yr. CAGR %	33.36	21.41	92.71	68.14	19.08
Non Interest Income, 2 Yr. CAGR %	12.05	7.92	85.57	217.46	83.9
Provision For Loan Losses, 2 Yr. CAGR %	60.52	19.54	53.03	105.21	29.92
Total Revenues, 2 Yr. CAGR %	12.2	15.16	113.27	134.68	43.02
Earnings From Cont. Operations, 2 Yr. CAGR %	17.96	23.31	103.24	152.75	38.04
Net Income, 2 Yr. CAGR %	18.09	23.82	101.81	147.55	36.08
Normalized Net Income, 2 Yr. CAGR %	18.39	21.86	122.73	125.97	30.7
Diluted EPS Before Extra, 2 Yr. CAGR %	2.2	0.68	45.3	60.49	12.86
Gross Loans, 2 Yr. CAGR %	36.5	42.44	47.19	60.44	46.89
Allowance For Loan Losses, 2 Yr. CAGR %	40.43	28.65	38.47	53.57	28.23
Net Loans, 2 Yr. CAGR %	36.34	43.21	47.52	60.47	47.55
Non Performing Loans, 2 Yr. CAGR %	26.93	3.95	7.8	-	-
Non Performing Assets, 2 Yr. CAGR %	26.93	3.95	7.8	-	-
Total Assets, 2 Yr. CAGR %	43.74	54.14	54.83	66.7	54.76
Total Deposits, 2 Yr CAGR %	51.26	53.12	64.67	82.27	50.37
Tangible Book Value, 2 Yr. CAGR %	28.18	27.43	50.33	81.91	46.09
Common Equity, 2 Yr. CAGR %	27.91	27.33	50.22	81.88	46.2
Total Equity, 2 Yr. CAGR %	27.28	27.1	50.31	82.68	47.43
Compound Annual Growth Rate Over Three Years
Net Interest Income, 3 Yr. CAGR %	31.29	21.03	76.43	41.25	74.16
Non Interest Income, 3 Yr. CAGR %	24.34	7.34	54.01	122.83	123.78
Provision For Loan Losses, 3 Yr. CAGR %	59.88	38.36	48.2	62.98	56.66
Total Revenues, 3 Yr. CAGR %	17.79	6.9	80.68	77.92	110.15
Earnings From Cont. Operations, 3 Yr. CAGR %	16.84	5.04	96.12	74.57	115.39
Net Income, 3 Yr. CAGR %	17.24	4.37	97.13	70.94	111.96
Normalized Net Income, 3 Yr. CAGR %	17.36	4.16	109.06	60.27	119.6
Diluted EPS Before Extra, 3 Yr. CAGR %	6.47	-9.08	43.81	22.84	57.88
Gross Loans, 3 Yr. CAGR %	31.32	36.1	48.1	51.58	51.17
Allowance For Loan Losses, 3 Yr. CAGR %	47.96	33.29	38.25	41.49	37.95
Net Loans, 3 Yr. CAGR %	30.65	36.26	48.57	51.9	51.55
Non Performing Loans, 3 Yr. CAGR %	31.18	19.81	5.56	-	26.15
Non Performing Assets, 3 Yr. CAGR %	31.18	19.81	5.56	-	26.15
Total Assets, 3 Yr. CAGR %	36.36	43.99	57.97	58.94	58.46
Total Deposits, 3 Yr CAGR %	38.26	48.35	64.54	67.99	62.57
Tangible Book Value, 3 Yr. CAGR %	26.68	23.34	47.56	55.77	62.18
Common Equity, 3 Yr. CAGR %	26.46	23.16	47.43	55.73	62.2
Total Equity, 3 Yr. CAGR %	25.91	23.03	46.98	56.54	63.34
Compound Annual Growth Rate Over Five Years
Net Interest Income, 5 Yr. CAGR %	28.99	22.76	53.08	38.04	50.76
Non Interest Income, 5 Yr. CAGR %	29.71	20.11	42.81	65.63	67.16
Provision For Loan Losses, 5 Yr. CAGR %	54.15	38.61	57.1	61.99	40.6
Total Revenues, 5 Yr. CAGR %	20.97	15.13	47.81	46.41	65.21
Earnings From Cont. Operations, 5 Yr. CAGR %	34	13.83	45.8	49.24	72.32
Net Income, 5 Yr. CAGR %	32.42	13.11	45.69	47.43	70.95
Normalized Net Income, 5 Yr. CAGR %	32.19	12.54	51.64	41.99	73.51
Diluted EPS Before Extra, 5 Yr. CAGR %	24.98	4.13	20.57	14.12	31.88
Gross Loans, 5 Yr. CAGR %	27.54	30.79	37.45	45.36	47.62
Allowance For Loan Losses, 5 Yr. CAGR %	29.02	36.89	44.09	41.06	34.16
Net Loans, 5 Yr. CAGR %	27.48	30.55	37.15	45.47	48.16
Non Performing Loans, 5 Yr. CAGR %	26.67	23.35	21.27	-	16.75
Non Performing Assets, 5 Yr. CAGR %	22.32	23.35	21.27	-	16.75
Total Assets, 5 Yr. CAGR %	30.5	36.06	43.47	52.68	56.72
Total Deposits, 5 Yr CAGR %	29.84	36.39	48.27	61.09	58.72
Tangible Book Value, 5 Yr. CAGR %	22.42	22.82	35.66	44.08	47.27
Common Equity, 5 Yr. CAGR %	22.09	22.66	35.48	43.94	47.23
Total Equity, 5 Yr. CAGR %	21.59	22.55	35.15	44.11	47.74