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Introducing Signature, a programme of distinction reserved for the upper crust of Emirates NBD
Our wealth solutions help you manage your financial future better and achieve your financial goals.
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Start your banking journey with the leading bank in the region.
Find a suitable account and applyDiscover the benefits of being our customer by browsing through our banking packages.
Learn more about banking packagesLearn all about how to use your account's features and benefits to the fullest.
Visit our dedicated support center for answers to all your banking-related questions.
All our cards offer you an exciting range of rewards and benefits.
Find a suitable card and applyGet the most out of your credit card by exploring its different benefits.
Learn all about how to use your card's features and benefits to the fullest.
Visit our dedicated support center for answers to all your banking-related questions.
Here's how to make the most out of your loan with us.
Visit our dedicated support center for answers to all your banking-related questions.
Our various FX products and services help you conduct your international transactions easily.
Our wide range of transfer options make it easier for you to send money locally and internationally.
Learn all about how you can seamless use our services to transfer money.
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Know more about our Wealth servicesLife is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Access to over 11,000 stocks and ETFs in Global and UAE markets
Visit our dedicated support center for answers to all your banking-related questions.
Everyday banking is a lot easier with our digital banking platforms and services.
Discover more about banking with usWe have over 200 branches and 900 ATMs and CDMs across the UAE and overseas.
Learn more about our services and get the most out of your banking relationship with us.
Visit our dedicated support center for answers to all your banking-related questions.
Start your Priority Banking journey and live your success
Introducing Signature, a programme of distinction reserved for the upper crust of Emirates NBD
Our wealth solutions help you manage your financial future better and achieve your financial goals.
Life is uncertain but you can be prepared to face adversity with our wide range of insurance plans.
Everyday banking is a lot easier with our digital banking platforms and services.
Learn more about our services and get the most out of your banking relationship with us.
We welcome you to a bespoke banking experience tailored to suit your private banking & wealth management needs, should you, your family, or your business have USD 5 Million (or currency equivalent) and above as Assets Under Management with us.
Türkiye Vakıflar Bankası T.A.O. (the “Borrower” or “VakifBank”) is pleased to announce the successful conclusion of its USD 160 Million and EUR 421 Million Term Loan Facilities signed on 25 November 2020. The facilities are structured as a 367 days dual currency financing. Proceeds of the facilities will be utilized for the financing of export contracts and for general trade finance purposes.
The Facilities achieved a strong global response with the participation of 27 banks across North America, Europe, Asia and the Middle East joined the transaction. Participating banks included 7 Mandated Lead Arrangers (including coordinators), 2 Lead Arrangers and 18 Arrangers.
Amidst a challenging market backdrop and uncertainty in the global markets due to ongoing Covid-19 across the world, the success of the deal is a testament to Vakifbank's strong fundamentals and successes through volatile markets, as well as the resilience of the Turkish financial sector
Emirates NBD Capital Limited and The Commercial Bank (P.S.Q.C.) Qatar acted as Joint Coordinators on the transaction.
Emirates NBD Capital Limited also acted as Documentation Agent and Emirates NBD Bank (P.J.S.C.) acted as Facility Agent.
About VakifBank
We would like to share with you some important highlights of 3Q20 financials which we announced on 9 November 2020.
VakıfBank delivered net income of TL 4,341 million and TL 5,541 million bank-only and consolidated basis, respectively as of 3Q20. Annual ROAE materialized at 15% in 3Q20 which is above the sector average of 11.6%. As a conservative and pro-active state bank, VakıfBank continued to increase its all coverage ratios as well as maintained TL 852 million free provisioning on its balance sheet. Stage 2 coverage ratio increased to 13.6% in 3Q20 from 5.9% in YE2019, Stage 3 coverage ratio increased to 75% in 3Q20 from 70.4% in YE2019 and total coverage ratio also increased to 124.4% in 3Q20 from 90.4% in YE2019.
As the 3rd largest bank in terms of asset size, total cash loans and total deposits within Turkish banking sector; asset size, total cash loans and total deposits of VakıfBank reached to TL 638 billion, TL 411 billion and TL 394 billion, respectively as of 3Q20. The market shares in total assets, cash loans and total deposits increased to 10.6%, 11.6% and 11.4% which is clearly showing ongoing strong commitment and support of VakıfBank to Turkish economy.
On the solvency side, VakıfBank continued to have solid solvency ratios with a total CAR, AT1 and CET1 ratios of 17.19%, 15.16% and 12.04% in 3Q20, respectively.
Currently, the Ministry of Treasury and Finance, Turkey Wealth Fund and VakıfBank Pension Fund hold 37.5%, 36% and 10.3% shares in the Bank’s shareholder structure, respectively and the remaining 16.2% is open to public.
In 2020, VakıfBank maintained its pioneer and active role in international debt capital markets through following funding and capital market transactions despite the challenging market conditions so far:
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