 VakıfBank is controlled by the Turkish Prime Ministry’s Directorate General of Foundations (DGF) which, as of March 2017, has a 58.5% stake in the bank.On November, 2005, VakıfBank and VakıfBank Pension Fund sold, respectively, 27,900,000,000 and 4,300,000,000 Class D common shares of VakıfBank in the IPO, representing 21.8% and 3.37%, respectively, of VakıfBank’s total shares.Following the IPO, the DGF’s equity interest in VakıfBank was reduced from 74.75% to its current stake.