VakifBank International AG products, services and reviews

About VakifBank International AG

VakifBank International AG is an Austrian credit institution headquartered in Vienna and a wholly owned subsidiary of Türkiye Vakıflar Bankası T.A.O., operating under an Austrian banking license and supervised by the Financial Market Authority (FMA) and the Oesterreichische Nationalbank. Its core activities center on corporate banking and trade finance, including working capital loans, letters of credit, guarantees, and documentary collections, alongside cash management, treasury, and foreign exchange services, with a focus on facilitating transactions between the European Union and Turkey. The bank maintains correspondent relationships for cross-border payments, supports SWIFT transfers, and participates in SEPA for euro payments. Retail offerings, where available, are generally limited to deposit products such as current and term accounts, subject to eligibility and local requirements. Deposits covered by the Austrian statutory scheme are protected up to €100,000 per depositor per bank in line with EU rules. VakifBank International AG publishes audited financial statements and Pillar 3 disclosures, reports capital and liquidity metrics under CRR/CRD, and applies risk controls for credit, market, liquidity, operational, and financial crime risks. Account opening typically requires verified identification and standard KYC documentation; business customers should expect requests for corporate documents, ownership information, and source-of-funds evidence. Pricing, fees, and interest rates vary by product and customer profile and are adjusted to market conditions. Digital channels provide routine account access and payment initiation, while more specialized services are delivered through relationship managers. The institution is a separate legal entity from its Turkish parent and adheres to Austrian and EU law, including sanctions compliance.