Ziraat Bank Subsidiaries and Developments In 2025

In line with Ziraat Finance Group's vision, significant steps have been taken to strengthen a dynamic, effective, and sustainable synergy structure among domestic and international subsidiaries by 2025. Within this scope, establishing a healthy and balanced balance sheet structure in international operations, sustainably increasing profitability, and ensuring effective balance sheet management have been among the primary objectives. Coordination mechanisms have been strengthened to ensure that overseas branch and subsidiary banks grow in line with Ziraat Bank's strategy, resources are directed to the right areas, and contributions to the Group's balance sheet are steadily increased.

In this regard, Global Vision, Domestic Subsidiaries Vision 2026, and Vision 2026 Antalya meetings were organized to increase interaction between domestic and foreign branches/subsidiaries and Ziraat Bank; strategic sharing and evaluation platforms were created with the participation of domestic and foreign subsidiary executives and foreign branch managers.

Thanks to its extensive network of foreign affiliates, the Bank has contributed to the development of commercial and economic relations between Türkiye and the countries in which it operates. The Bank's effectiveness and market share in financing foreign trade have been strengthened. Within the framework of the Ziraat Finance Group vision, the Bank has implemented a dynamic, efficient, and sustainable cooperation model that complements financial activities between domestic subsidiaries and the international network.

Investments in digitalization have been continued to support customers' global transaction flows more quickly and efficiently. Following investments in internet and mobile banking, the scope of projects aimed at developing digital channels has been expanded in 2025. This has increased product and service diversity while ensuring speed and efficiency in operational processes.

Within the scope of efforts to introduce new and pioneering financial technologies in the regions where the Bank operates, projects to develop POS, ATM, internet, and mobile banking infrastructures in overseas branches and subsidiaries have been largely completed. These developments have significantly contributed to improving customer experience and strengthening the Bank's international operational capabilities.

In this context, the Bank aims to:

• Create effective and sustainable synergy between its domestic subsidiaries that support financial activities and its overseas subsidiaries spread across a wide geographical area, in line with the Ziraat Finance Group vision.
• Contribute to the development of commercial and economic relations between Türkiye and the countries in which it operates through its extensive network of foreign subsidiaries, play an active role in financing foreign trade, and strengthen its share in this area,
• To provide financial support for its customers' global transaction volumes; to offer a wide variety of products and services with time and cost advantages through quick decision-making, effective communication, and efficient business processes,
• To contribute to the widespread adoption of innovative and pioneering financial technologies in the regions where it operates.

Established to operate in the field of digital banking, Ziraat Dinamik conducts its digital banking activities through Ziraat Dinamik and its electronic money and payment services through ZiraatPay. As of 2025, these subsidiaries continue their activities, with digital banking and payment services forming an important part of the Bank's customer-focused product and service offering.

Overseas Subsidiaries

Germany
Ziraat Bank International AG commenced its operations in Germany in 1964 as a representative office and transitioned to a branch structure in 1988. Operating as a bank since 2001, the institution offers comprehensive banking services to its customers through its seven branches located in Berlin, Duisburg, Frankfurt, Hamburg, Hannover, Cologne, and Munich.

Bosnia and Herzegovina
Established in 1997, ZiraatBank BH d.d. is Bosnia and Herzegovina's first bank with entirely foreign capital. With its extensive service network consisting of 1 head office building, 18 branches, and 17 offices, ZiraatBank BH d.d. is the Ziraat Finance Group's bank with the largest physical structure abroad, providing its customers with a wide range of banking products and services.

Montenegro
Ziraat Bank Montenegro AD commenced banking operations in July 2015. It continues to serve its customers through its headquarters building in Podgorica, as well as its branches in Podgorica, Bar, and Budva.

Russia
Ziraat Bank (Moscow) JSC was established in 1993 and the Bank's headquarters and sole branch are located in Moscow.

Azerbaijan
Ziraat Bank Azerbaijan ASC, which commenced operations in 2015, continues its activities with its headquarters building located in Baku, as well as branches in the city center, İçerişehir, Gence, Sumgayit, Ahmed Recepli, Azadlık, Samed Vurgun, Babek, and Sederek, in addition to the Nahçıvan, Guba Service Point, and Neftçiler branches that began operations in 2025. The bank plays an active role in financing commercial relations between Türkiye and Azerbaijan and facilitating transactions, in addition to offering a wide range of products for corporate and individual customer segments.

Kazakhstan
Kazkommerts Ziraat International Bank (KZI Bank), established in 1993 and headquartered in Almaty, provides banking services to its customers through a total of 8 branches: two in Almaty and one each in Astana, Shymkent, Aktau, Atyrau, Karaganda, and Turkistan.

Uzbekistan
UTBANK JSC, Uzbekistan's first foreign-owned bank, was established in Tashkent in 1993 as an equal partnership between Ziraat Bank and Agrobank (Uzbekistan). In 2017, with the transfer of Agrobank's entire stake in the Bank to Ziraat Bank, 100% of UTBANK JSC's capital became owned by Ziraat Bank. The Bank continues its operations under the name “Ziraat Bank Uzbekistan JSC” with a total of 7 branches: Corporate Branch/Tashkent, Operu, Yunusabad, Samarkand, Fergana, Andijan, and Bukhara.

Georgia
Ziraat Bank's banking operations in Georgia began in 1998; operations conducted through its branches in Tbilisi, Batumi, and Marneuli were consolidated under a single umbrella on May 2, 2017, resulting in the establishment of JSC Ziraat Bank Georgia. The bank currently operates a total of six branches in Tbilisi, Batumi, Marneuli, Kutaisi, Gldani, and Varketili.

Kosovo
As of June 2025, the Kosovo Country Management and its branches in Pristina, Prizren, Peja, Ferizaj, and Gjilan continue to operate as a bank under the name Ziraat Bank Kosovo JSC, wholly owned by Ziraat Bank.

Turkmenistan
Turkmen Turkish JSC Bank was established as a Turkish-Turkmen joint venture. Headquartered in Ashgabat, the Bank has offices in Bereketli, Dashoguz, Kerki, Mary, Ashgabat, Turkmenabad, and Balkanabad.

Domestic Subsidiaries

Ziraat Katılım Bankası A.Ş.
Ziraat Katılım, which commenced its banking activities on May 29, 2015, under the principle of “More When We Share,” operates as Türkiye's first publicly-owned participation bank. Focusing on participation banking principles and ethical values, Ziraat Katılım provides innovative financial solutions, offering its customers an accessible and inclusive banking experience.

With its experienced and dynamic human resources, extensive branch network, and advanced alternative distribution channels, it offers products and services tailored to the needs of its customers in the areas of retail, commercial, and private banking, as well as agricultural banking. As of the end of 2025, Ziraat Katılım has 3,140 employees who are experts in their field and serves its customers through a total of 227 branches, including 225 in Türkiye and 2 abroad.

Ziraat Katılım continues its international banking activities through its branches in Sudan and Somalia. Headquartered in the Ziraat Towers at the Istanbul Financial Center (IFC), the Bank offers accessible and effective banking solutions to its customers by supporting its products and services in the areas of retail, commercial, and private banking, as well as agricultural banking, through internet and mobile banking channels. Ziraat Katılım aims to increase its position and competitiveness in the sector through sustainability practices while supporting economic development, and to generate shared value for all stakeholders. Aware of the environmental and social impacts of the products and services it offers, Ziraat Katılım ensures the effective management of environmental and social risks in its activities.

Ziraat Katılım's sustainability approach, which takes responsibility in combating the global climate crisis, is designed to spread, develop, and make sustainability permanent throughout the entire value chain. Zİraat Katılım's sustainability strategy is aligned with Türkiye's 2053 Net Zero Target and Green Agreement Action Plan and aims to contribute to investments that support sustainable development. Within this framework, the “Sustainability Policy” and related policies are implemented.

Ziraat Katılım has been awarded the title of “Most Effective Participation Bank on Social Media” for the seventh consecutive year since 2019 in the Participation Banks category at the Data Analytics Awards, organized as part of the Social Brands index, which evaluates brands' social media performance based on unbiased data analysis.

Ziraat Portföy Yönetimi A.Ş.
Established in 2002, Ziraat Asset Management obtained the authority to establish funds in 2015 following amendments to the Capital Markets Law. The company operates in the areas of investment and pension funds, as well as individual and institutional portfolio management. As of December 31, 2025, Ziraat Asset Management manages 88 investment funds, 14 exchange-traded funds, 3 real estate investment funds, 8 venture capital investment funds, and 36 pension investment funds belonging to pension companies, as well as individual and institutional investor portfolios.

In 2025, approximately TL 220 million in venture investments were made through existing venture capital investment funds, while approximately TL 5 billion was transferred to the venture ecosystem through new Private Venture Capital Investment Funds. Product diversity has been increased with new open-ended funds, exchange-traded funds, and venture capital investment funds. The company maintained its leading position in the sector by managing a portfolio size of TL 2.1 trillion within a total sector size of TL 12 trillion.

The total portfolio size managed by the Company reached TL 2.14 trillion as of December 31, 2025, consisting of TL 976 billion in investment funds, TL 458 billion in pension funds, and TL 715 billion in individual and institutional portfolios. According to 2025 CMB data, Ziraat Asset Management holds a 17.64% market share, maintaining its leading position in the sector.

By the end of 2025, Ziraat Asset Management has strengthened its leadership position in the pension investment fund sector. It has maintained its clear leadership position with a market share of approximately 20% in the IPS segment and over 42.7% in the OKS segment.

Ziraat Yatırım Menkul Değerler A.Ş.
Established in 1997 to act as an intermediary in capital market transactions, Ziraat Yatırım Menkul Değerler A.Ş. (Ziraat Investment) operates as a “Fully Authorized Intermediary Institution” and ranks among the leading institutions in the Turkish capital markets with nearly 3.5 million active customers. Providing services to Ziraat Bank customers since its establishment, Ziraat Investment has continued to offer extensive services throughout Türkiye through both banks following its integration with Ziraat Katılım in 2025.

Ziraat Investment closely follows technological developments and prioritizes mobile services. This enables it to increase workforce efficiency and provide faster and more effective services to investors. Customers opened accounts and traded shares on Ziraat Investment through Ziraat Katılım Mobile and Ziraat Katılım Internet Branch. Customers were able to submit their requests for public offerings in which Ziraat Investment was a consortium member or leader, and which were in line with the participation index through mobile and internet branch channels.

Infrastructure updates have been made to ensure the smooth operation of the Internet and Mobile applications. Investment fund purchase and sale transactions have begun through the Ziraat Trader application. Improvements to the analysis module in the same application have reached the final stage. In the ZBorsa application, fund purchase and sale, and capital increase application screens have reached the final stage Integration with Ziraat Dinamik has been completed.

Account opening, mobile stock trading, and public offering transactions are now active through Ziraat Dinamik's mobile and internet applications. Nearly all individual account opening and contract update transactions are carried out through Ziraat Bank, Ziraat Katılım, and Ziraat Dinamik digital channels. In addition to the mobile and internet channels of the three banks, Ziraat Investment's internet branch, two mobile applications, and two web-based applications facilitate customers' capital market transactions without interruption.

Since the launch of Ziraat Dinamik, a discounted commission campaign has been offered to customers who opened accounts through the integrated Ziraat Investment platform. Additionally, Ziraat Bank's digital branch, Ziraat Super Branch, continues to offer discounts to customers opening investment accounts for the first time and to customers in the Super Branch Platinum Customer group.

Changes in the preferences of sustainability-focused investors and customers are closely monitored. Accordingly, efforts are being made to transform the products and services offered to meet sustainability expectations, improve performance in sustainability indices, and increase customers' financial literacy and sustainability awareness. Customers making sustainability-focused decisions increases demand for “green” products and services in the market, offering opportunities to positively impact revenues. Within this framework, priority is given to institutions seeking to issue debt instruments or lease certificates in the field of corporate finance.

Between 2012 and 2025, Ziraat Investment provided approximately TL 214 billion 569 million in funding to companies and financial institutions through debt instruments and lease certificate (sukuk) issuances, offering institutions a variety of funding sources while also contributing directly to the country's economy. In addition to this amount, in 2025, it provided TL 106 billion 434 million in funding through 133 separate transactions with a nominal value of TL 164 billion 507 million. Its activities in this field have been recognized with numerous industry leadership awards from the TCMA.

By serving as lead or co-lead manager in two public offerings in 2025, Ziraat Investment completed a public offering worth TL 6 billion 922 million and, as a member of 17 consortia, achieved sales of TL 6 billion 378 million. Ziraat Investment continues to add value to the sector with new financial instruments.

Providing both advisory and brokerage services for the issuance of financing bonds for Ziraat Bank since 2012 and lease certificates for Ziraat Katılım since 2016, Ziraat Investment has issued a total of TL 91 billion 86 million in nominal value in this context in 2025. Ziraat Investment also provided advisory and brokerage services for the issuance of lease certificates by ZKB VKŞ, a company established by Ziraat Katılım for the issuance of lease certificates where third-party companies are fund users. Within this scope, Ziraat Investment carried out issuances with a nominal value of TL 6 billion 927 million in 2025.

Ziraat Investment was honored with the “Best Equity Brokerage Firm in Türkiye” and “Best Market Maker” awards at the Global Banking and Finance Review - Awards 2025 for its 2024 activities. Additionally, it has been recognized in the “Global Top 100” category for the “Best Market Maker” award at the Global Banking and Finance Review - The Next 100 Global Awards 2025. The company continues its activities in line with its sustainable growth and profitability goals by strengthening its digital sales channels and leveraging the synergy of the ZFG. In 2025, lease certificates were issued for 16 companies operating in the health, food-agriculture, ceramics, real estate, and technology sectors, in addition to Ziraat Katılım.

Ziraat Gayrimenkul Yatırım Ortaklığı A.Ş.
Established on November 1, 2016, Ziraat Real Estate Investment Trust operates in the Turkish real estate sector with a vision to deliver long-term, value-focused, high-quality, and sustainable projects. The Company stands out in the sector with its high-quality and diversified portfolio. As of year end 2025, it is the real estate investment trust with the highest market value in Türkiye, and its shares have been traded on the Borsa Istanbul (BIST) under the ticker symbol ZRGYO since May 6, 2021.

Ziraat Real Estate Investment Trust’s most significant investment, the Istanbul Financial Center (IFC) Ziraat Towers Project, consists of two towers with 46 and 40 floors and an eight-story podium, with a total construction area of 431,000 m². The completed Ziraat Towers have been gradually operational since 2023 and are the first green buildings in the IFC complex to receive LEED “Platinum” certification. The IFC Ziraat Towers Project has achieved significant international recognition, winning the “Excellence in Construction” award in the CTBUH (Council on Tall Buildings and Urban Habitat) 2023 Excellence Awards Program and the “Best Construction Project” award in the Autodesk Design & Make Awards 2024.

In addition, Ziraat Real Estate Investment Trust prioritizes the development of resilient, high-quality, and accessible housing, in response to the seismic risk that is a structural reality of our country. In its housing projects , it places strong emphasis on environmental performance along with accessibility, structural safety, and resilience.

Ziraat Real Estate Investment Trust reflects its social responsibility and sustainability perspective through its housing projects in the regions affected by the February 6 earthquakes and its affordable housing initiatives in Istanbul/Sultanbeyli.

As one of the standout investments in the portfolio, the Izmir/Bayraklı Mixed-Use Project, combines architectural quality with functional diversity. The project, which stands out for its architectural design and multifunctional structure, has been honored with a total of four different awards under the European Property Awards, considered one of the most prestigious awards in the global real estate sector, including two in the architecture category and two in the real estate development category: The “Best High-Rise Residential Project 5 Star Award,” “High-Rise Residential Architecture Award,” “Mixed-Use Architecture Award,” and “Mixed-Use Project Award” represent an internationally recognized standard of quality and design.

With its strong capital structure, disciplined financial management, and sustainability-focused approach, Ziraat Real Estate Investment Trust integrates environmental, social, and governance principles into its business processes, delivers stable value to its stakeholders, and maintains its reputable and reliable position in the Turkish real estate sector.

Ziraat Finansal Yatırımlar A.Ş.
Established on November 8, 2018, Ziraat Venture Capital Investment Trust was founded to support the corporate and strategic development of growth-oriented ventures and contribute to their sector-based strengthening by partnering with them. The Company has been operating as Ziraat Financial Investments since June 2025.

In 2025, Ziraat Financial Investments participated in the capital increase while maintaining its stake in İTTM Tarım Teknolojileri Girişim A.Ş. It is planned that the resources provided will be used for co-financing and operational needs within the scope of the European Digital Innovation Hubs (EDIH) Project. The Company changed its name to Ziraat Financial Investments and continues to support the development of the ventures in its current investment portfolio and to effectively manage the investment processes.

Ziraat Teknoloji A.Ş.
Founded in 2001, Ziraat Teknoloji A.Ş. (Ziraat Technology) provides application development, system management, project management, and technology consulting services to Ziraat Bank and its domestic and international affiliates.

The company operates from locations in the Davutpaşa Technology Development Zone at Yıldız Technical University, the Istanbul Financial Center, and Ankara Varlık. It plays a critical role in ZFG's technology projects with solutions developed in line with ISO 9001, ISO 22301, and ISO 27001 standards. Corporate Information Security Policies have been updated according to needs and implemented within the scope of ISO 27001. The corrective and improvement activities process has been reviewed to increase its effectiveness in tracking non-conformities related to the process. In line with the requirements of the standard, controls at the IT audit stage of corporate systems have been linked to national and international standards. To increase audit effectiveness, follow-up in the finding/action process has been increased, thereby accelerating improvements in the information security infrastructure.

The main projects carried out within Ziraat Bank include Bankkart Prestige, Centralization of the Credit Tracking Process, Trade Route, Digitization of Electronic Letter of Guarantee Request and Tracking Processes, Bankkart Mobile Renewal Phase 2, TK Pay Project, AI-supported check reading, installment current account and conversion credit, Türkiye Katılım Sigorta A.Ş. integration, automatic proposal generation, establishment of a sales-oriented call center structure, and SWIFT corporate customer payment product integration.

Projects carried out under Ziraat Katılım include Easy Account, Shared Account, Ziraat Katılım Internet and Mobile Banking renewal works, systemic improvements for retirement promotions, ODS (Operational Data Source) Project, payment plan calculation module, and campaign screen design.

Under the Ziraat Dinamik umbrella, projects include the launch of Ziraat Dinamik, the development of investment functions and dashboards, work on insurance processes (life, IPS, and basic products), digital account wallets, NFC controls to combat fraud in line with BRSA regulations, and advantageous digital credit projects.

During the establishment of Ziraat Leasing, Ziraat Investment is implementing the integration of Ziraat Investment and Ziraat Dinamik, the establishment of the E-YKS system, and system development activities. Within Ziraat Real Estate Investment Trust, the Real Estate Tracking Application, the establishment of a new website under Ziraat Filo, infrastructure standardization, the integration of Ziraat Filo with ZiraatPay payment systems, and the Ziraat Filo System Application Phase 1-2 projects are being carried out. Additionally, the Ziraat Portfolio Backoffice Application Phase 1-2 and the T.C. Ziraat Bankası and T. Halk Bankası Members Pension and Relief Fund Foundation Call Center Setup are among the other projects being carried out during this period.

Ziraat Technology has played a critical role in implementing ZFG's domestic and international digital transformation and technology strategies as of 2025. It has provided high added value to the Main Bank's international units as both an implementer and strategic advisor in projects carried out in different countries and regulatory environments. With the successful implementation of the FinArt Global Core Banking Application, developed with internal resources, in the Bahrain and London branches, systemic risks have been reduced, third-party dependencies have been eliminated, and compliance with international regulations has been strengthened. Service continuity in overseas units has been supported with integrated and scalable solutions offered in the areas of digital channels, information security, and infrastructure monitoring. Ziraat Teknoloji's holistic approach, which is compliant with global standards, capable of exporting technology, and steadfastly pursuing the “Technology for More” vision both domestically and internationally, has been demonstrated.

In 2025, Ziraat Technology implemented organizational updates to strengthen alignment with the Group’s technology strategy. With its scalable infrastructure, robust information security framework, and AI-focused R&D initiatives, the company continued to deliver high added value to the digital banking ecosystem.

At the Esenyurt Data Center, the operational share of the cooling systems running in Free Cooling mode was targeted for increase. The necessary installations have been completed, and testing and verification activities have been conducted, with the systems now fully operational. These improvements aim to enhance energy efficiency and reduce energy consumption associated with cooling.

Ziraat Dinamik Banka A.Ş.
Ziraat Dinamik, established on April 18, 2023, to operate in digital banking, obtained its operating license through the BRSA decision dated October 31, 2024. Ziraat Dinamik holds the distinction of being both the first digital bank established within a financial group and the first publicly-owned digital bank in Türkiye.

Guided by an analytics- and technology-driven business model, Ziraat Dinamik aims to ensure the continuity and sustainability of its operations while offering innovative products in line with domestic and international banking standards.

The Bank completed the necessary customer onboarding authorization in May 2025 and accepted its first customers on May 7, 2025, marking the official start of operations. Between May and September 2025, customer acquisition occurred through a pilot program; in October-November 2025, a “silent launch” phase began, during which external customers were accepted without advertising or promotional activities; and in December 2025, the full launch phase commenced.

Ziraat Dinamik offers its customers a comprehensive range of products and services, including demand and time deposit accounts in Turkish Lira and foreign currencies, digital credit products, overdraft accounts, physical and digital debit and credit cards, payment and collection solutions, insurance and individual pension products, foreign currency and gold trading, as well as stock market and investment products. Customer acquisition and retention initiatives include promotional credit and credit card offers, tailored payment solutions, and various campaigns providing exclusive discounts and benefits to clients.

Operating under the motto “Fast, Digital, Practical”, the Bank, leveraging the strength of the Ziraat brand, aims to establish a leading position in the digital banking sector.

Ziraat Finansal Teknolojiler Elektronik Para ve Ödeme Hizmetleri A.Ş.
ZiraatPay, established on August 23, 2022, commenced operations in 2024 following the operating license granted by the CBRT. The ZiraatPay digital wallet provides a wide range of functions on a single platform, including bill payments, money transfers, shopping, QR code transactions, and joint wallets, offering customers fast and secure financial solutions.

Throughout 2025, ZiraatPay introduced innovative features and services tailored to customer needs in both e-money and payment services, contributing to new customer acquisitions. Key offerings included ZiraatPay Wallet, Joint Wallet-which significantly supports youth financial literacy, Card Top-Up, and Bankkart Credit Card sales via the ZiraatPay Mobile App through a Service Banking model, allowing users to become Ziraat Bank customers. Product development continued in response to user feedback on ZiraatPay’s user-friendly, simple, and practical interface.

Within payment services, ZiraatPay provided POS solutions, enabling commercial clients to access all bank POS systems via a single contract, simplifying their payment processes. Detailed information on ZiraatPay can be found in the section “Value to Our Business: Sustainable Technological Solutions”.

Ziraat Bankası iştiraklerinin 2025 yılı faaliyet raporlarına kendi kurumsal web sitelerinden ulaşılabilmektedir.

Ziraat Finansal Kiralama A.Ş.
Ziraat Finansal Kiralama A.Ş. (Ziraat Leasing) was founded in 2024 and officially commenced operations in February 2025, following the approval of all requisite regulatory licenses by the Banking Regulation and Supervision Agency (BRSA).

Ziraat Leasing demonstrates a steadfast commitment to delivering accessible, efficient, and agile financial leasing solutions, enabling clients across a wide range of sectors to realize their strategic investment and growth ambitions. Ziraat Leasing offers a comprehensive range of non-banking financing products, tailored to meet the unique needs of various industries. These include machinery and equipment acquisitions, energy and renewable energy projects, healthcare and technology equipment, production machinery, as well as commercial vehicle and fleet financing solutions.

Ziraat Leasing facilitates client investments through flexible payment arrangements, cost-efficient solutions, and industry-tailored financing models, ensuring that its offerings are fully adapted to the operational realities of each sector.

In line with its commitment to sustainable finance, Ziraat Leasing has developed tailored leasing solutions for energy efficiency and renewable energy initiatives, reinforcing its pledge to both environmental responsibility and enduring economic sustainability.

The 2025 annual reports of Ziraat Bank subsidiaries are available on their respective corporate websites.