ISTANBUL - Turkish Daily News
Vakıfbank, Turkey's largest bank in terms of loans and deposits per branch, unveiled its new corporate image and logo yesterday.
Bilal Karaman, general manager of Vakıfbank, told reporters the bank invested some $15 million in launching its new corporate image. “Together with the technical infrastructure required, we invested approximately $65 million between 2005 and 2007 for the freshened image,” he said.
The bank will continue placing emphasis on further development in the coming two years. “Between 2008 and 2010 we will invest $75 million more in technology. We have planned that the total expenditure of this six-year development project will stand at $155 million,” Karaman added.
New branches, expansion in volume:
Vakıfbank's updated strategy also includes increasing the number of branches by adding 350 new locations. “At present we have 349 branches and 102 associate branches, in total we serve at 496 points. In the coming three years we plan to add 350 new branches, aiming to bring the total number of our branches to 846,” Karaman said.
The bank is also determined to provide more efficient and sophisticated service to its institutional clients and to be among the three leading mortgage providing banks in Turkey. “The availability of mortgages has been around YTL 300 million when the market has been doing well. In the recent period, this figure dropped to YTL 80 million. [In terms of market share] we want to be among the leaders in the coming five years. We have a very competitive attitude toward this, and have finalized all infrastructure needed for this,” saidİhsan Çakır, assistant general manager at Vakıfbank.
“Our target is to grow our asset volume by 77 percent and reach YTL 82.5 billion by 2010. In comparison with the end of 2005, by the end of March 2008 our assets increased by 43 percent. In loans we aim to reach a volume of YTL 55 billion and in deposits YTL 60 billion,” Karaman said.
Designs from London:
Vakıfbank's new logo was revealed yesterday, together with the launch of the bank's new Web site. The new corporate image of the bank and the interior design of the branches is the work of London-based design firm Fortune Street. Tony Allen, chief executive officer of Fortune Street, told the Turkish Daily News the firm started working on the new corporate design and logo in August 2007 and proceeded to introduce the practical stages of furnishing the branches in January this year. “We wanted to give the image of Vakıfbank a dynamic and fresh, updated look. Our five architects worked in close contact with Vakıfbank's own team of architects in Ankara throughout the project,” he added.