Ziraat Bank’s Subsidiaries

Ziraat Bank’s corporate participation strategy is based on creating integrated solutions to meet the financial needs of its customers as a whole.

An affiliate policy built on the foundations of efficiency

Within the framework of its participation policy built on the foundations of efficiency, Ziraat Bank has created a subsidiary portfolio that offers a competitive advantage in the national and international arena. The bank provides services both locally and globally through its domestic subsidiaries operating in various areas of the Turkish financial sector, as well as through its foreign subsidiary banks.

In this context, the Bank aims;

To create a dynamic and effective synergy between its domestic subsidiaries, which are complementary to its financial activities, and its foreign subsidiaries spread over a wide geography, within the framework of Ziraat Finance Group’s vision,
To contribute to the development of commercial and economic relations between Turkey and the other countries in which it operates, to play a strong role in the financing of foreign trade and to capture a high share in this area thanks to its wide foreign subsidiary network,
To provide a variety of products and services at a global level, as well as time and cost advantages, thanks to effective communication and fast business processes by contributing financially to the transaction flows of its customers around the world,
To bring new/pioneering financial technologies in its geographies.

Ziraat Katılım, opened its second branch abroad in Mogadishu, Somalia, on 29 October, 2023, the 100th anniversary of the founding of the Republic of Turkey.

INTERNATIONAL SUBSIDIARIES

Germany
Ziraat Bank International AG started its activities as a representative office in 1964 and turned into a branch in 1988. It has been operating as a bank since 2001. The Bank can offer all kinds of banking services to its customers.

Ziraat Bank International AG has branches in Berlin, Duisburg, Frankfurt, Hamburg, Hannover, Cologne and Munich.

Bosnia and Herzegovina
ZiraatBank BH d.d., which began its activities in 1997, was Bosnia and Herzegovina’s first bank to be owned by foreign capital. ZiraatBank BH d.d. provides services through 32 service units made up of 18 branches and 17 offices throughout the country as of the end of 2023.

Montenegro
Ziraat Bank Montenegro AD started its operations in July 2015. The Bank continues its services with its Head Office in Podgorica and branches in Podgorica, Bar and Budva.

Russia
Ziraat Bank (Moscow) JSC was established in 1993. The head office and only branch of the bank is in Moscow.

Azerbaijan
Ziraat Bank Azerbaijan ASC started its activities in 2015. The Bank continues to serve with its Head Office in Baku, Headquarters, Icherisehir, Gence, Sumgayit, Ahmed Recepli, Azadlik, Samed Vurgun branches, and Babek branch opened in 2023. In addition to its wide product range for corporate and individual segments, the Bank continues to play an active role in the development of trade between the two countries.

Kazakhstan
Kazakhstan Ziraat International Bank (KZI Bank), established in 1993 and headquartered in Almaty; It continues to serve its customers with a total of 8 branches, two in Almaty and one in Astana, Shymkent, Aktau, Atirau, Karaganda and Turkistan.

Uzbekistan
UTBANK JSC, Uzbekistan’s first bank with foreign capital, was established in 1993 in Tashkent, with the equal participation of Ziraat Bank and Agrobank (Uzbekistan). In 2017, all of Agrobank’s shares in the Bank were transferred to Ziraat Bank, and 100% of UTBANK JSC’s shares were registered in the name of Ziraat. The Bank continues its activities under the name of “Ziraat Bank Uzbekistan JSC” and with 7 branches: Corporate Branch/Tashkent, Operu, Yunusabad, Samarkand, Fergana, Andican and Bukhara (opened in 2023).

Georgia
In Georgia, where Ziraat Bank started to provide services in 1998, the banking activities carried out with branches in Tbilisi, Batumi and Marneuli were combined under the umbrella of the bank as of 2 May 2017, and JSC Ziraat Bank Georgia was established. Tsereteli Branch in Tbilisi in 2018, Kutaisi Branch in 2019, Gldani and Varketili branches in 2020 started to operate, and the Bank continues to serve with 7 branches in total.

Turkmenistan
Turkmen Turkish JSC Bank was established as a Turkish and Turkmen partnership. The head office of the bank is in Ashgabat and has branches in Bereketli, Dashoguz, Kerki, Mary, Ashgabat, Turkmenabad, and Balkanabad (opened in 2023).

DOMESTIC SUBSIDIARIES

Ziraat Katılım Bankası A.Ş. (Ziraat Participation Bank)

Established in 2015 as the first participation bank with public capital, Ziraat Participation Bank had 189 branches nationwide as of the end of 2023. The Bank, which opened its first international branch in Sudan in September 2020, opened its second branch abroad in Mogadishu, Somalia, on 29 October, 2023, the 100th anniversary of the founding of the Republic of Turkey. The bank maintains its activities in line with the principles of participation banking.

Ziraat Participation aims to protect the environment and create value for all its stakeholders, including its customers, employees, shareholders and society, while supporting economic development. Aware that the financial products and services it offers in line with the principles of participation banking have an impact on the environment and society, the Bank attaches the greatest importance to the correct and effective management of environmental and social impacts in its activities.

In addition to its efforts to reduce emissions resulting from its operations, Ziraat Katılım carries out various projects and plans to implement the necessary development solutions to expand its sustainable financing activities, and to calculate the emissions of the projects it finances and to reduce such emissions.

Ziraat Katılım’s sustainability strategy is compatible with Turkey’s national goals, in particular the country’s 2053 Net Zero target and the Green Deal Action Plan. Commanding an important position with its sustainability approach determined in line with the road map determined in Turkey, the Bank has also set out its own Sustainability Policy.

Ziraat Katılım’s efforts were recognized in the Participation Banks category at the Data Analytics Awards, where the performance of brands on social media is evaluated according to the results of the Social Brands brand index prepared based on impartial data and data analysis. The Bank was handed “Most Effective Participation Bank of Social Media” award in 2023, having won the award in 2019, 2020, 2021 and 2022.

Ziraat Portföy Yönetimi A.Ş. (Ziraat Asset Management)

Ziraat Asset Management was established in 2002 and received the authority to establish funds in 2015 with the amendment made in the Capital Market Law.

As of 31 December 2022, Ziraat Asset Management manages a portfolio of 77 Mutual Funds, 12 Exchange Traded Funds, 4 Real Estate Investment Funds, 3 Venture Capital Investment Funds and 49 Pension Investment Funds belonging to pension companies. The Company also provides portfolio management services to individual/corporate investors.

As of 31 December 2023, Ziraat Asset Management’s total portfolio was recorded as TL 649 billion, consisting of TL 357.6 billion in mutual funds and TL 291.4 billion in individual/corporate investors portfolios. The Company maintains its leadership in the sector with its 20.55% market share as of December 2023.

Ziraat Portföy’s activities were recognized by the Turkish Capital Markets Association with the “Pension Investment Funds Portfolio Size Leader 2022” award, the “Mutual Funds Portfolio Size Leader 2022” award and the “Individual Portfolio Management Size Leader 2022” award in 2023.

Ziraat Yatırım Menkul Değerler A.Ş. (Ziraat Investment)

Ziraat Investment, which was established in 1997 to act as an intermediary in capital market transactions, has the status of “Broadly Authorized Intermediary Institution”.

In 2023, the company closely followed the technological developments in the sector and focused on mobile services, thus ensuring efficient use of its workforce.

Ending the monthly mailing of account statements sent to customers and moving account openings to electronic media paved the way for cost and time savings, as well as a contributing positively to the environment.

Ziraat Gayrimenkul Yatırım Ortaklığı A.Ş. (Ziraat REIT)

With the aim of being one of the leading companies in the sector with innovative projects that will accelerate the development of the Turkish real estate sector and create added value for our country, to achieve stable balance sheet growth by developing original projects which offer high investment value, to carry out projects that will provide the highest return to its shareholders with a management approach based on corporate values, Ziraat REIT was established on 1 November, 2016 and the company’s shares began trading on Borsa Istanbul on 6 May, 2021.

The construction of the Istanbul Financial Center (IFM) Ziraat Towers Project, Ziraat REIT’s most important investment, got underway in May 2018. Covering a total construction area of 431,000 m², consisting of two blocks with 46 and 40 floors and an 8-storey podium, the project has reached its final stages. The Istanbul Financial Center was opened with the relocation of the Company and Ziraat Bank units to Ziraat Tower 1 in 2023. Work on the completion of Tower 2 is ongoing, and is planned be completed in the first quarter of 2024.

The IFM Ziraat Towers Project was deemed worthy of the “Excellence in Construction” award within the scope of the 2023 Excellence Award program carried out by the Council on Tall Buildings and Urban Habitat (CTBUH), a global non-profit organization working to create more sustainable and healthy cities, with its outstanding performance in the fields of excellence in architectural design and construction, innovation and sustainability.

Ziraat REIT, awarded for being the “REIT with the Highest Percentage of Total Institutional Investors” at the 18th Real Estate Summit organized by the Real Estate Investors Association in 2023, provides stable rental income from its balanced and diversified portfolio both in the country and abroad, its strong equity and financial structure. It continues to grow as a leading brand in the real estate sector and create added value for our country by continuously implementing modern and innovative projects that are in line with environmental and social values.

Ziraat Girişim Sermayesi Yatırım Ortaklığı A.Ş. (Ziraat Venture Capital)

Established on 8 November 2018, Ziraat Venture Capital was. The Company acquires equity stakes in ventures which offer growth potential, provides the leverage and growth which they need, and works to help them achieve sector-based strengthening within the framework of a corporate and strategic plan.

Ziraat Teknoloji A.Ş. (Ziraat Technology)

Since inception in 2001, Ziraat Technology has been providing services to Ziraat Bank and its domestic/foreign partnerships in the fields of application development, systems management, project management and technology consultancy.

Ziraat Technology continues its activities in the Technology Development Zones (Teknoparks) located in İstanbul (Davutpaşa and Kurtköy İstanbul Financial Center) and in Ankara (Varlık). It plays an important role in the projects carried out by the Ziraat Finance Group with the software and applications which it has developed in line with the requirements of ISO 9001 Quality Management, 22301 Business Continuity and 27001 Information Security standards, and has become a global solution partner.

In 2023, the Free Cooling operating mode specific to air handling units selected for the cooling systems at Ziraat Technology’s Esenyurt Data Center yielded annual energy savings of approximately 20% (2,000,000 kWh).

NOTE: Annual reports of affiliates can be obtained from their own websites.

Ziraat Technology has been providing services to Ziraat Bank and its domestic/foreign partnerships in the fields of application development, systems management, project management and technology consultancy.