VAKIFBANK
2015 ANNUAL REPORT
134
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE I. OF SECTION THREE
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI
UNCONSOLIDATED FINANCIAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2015
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
XIX. ADDITIONAL INFORMATION ON BORROWINGS
The Bank provides funding resources such as syndication and securitization transactions in case of need. In the current period, the Bank has started to
obtain funds through domestic and international bonds since August 2011.
These transactions are initially recognized at acquisition costs at the transaction date and are subsequently measured at amortized cost using effective
interest method.
The bank is not hedging about debt instruments.
XX. INFORMATION ON ISSUANCE OF EQUITY SECURITIES
The shares of the Bank having nominal value of TL 322,000,000 (full TL), representing the 25.18% of the Bank’s outstanding shares, was publicly
offered at a price between TL 5.13-5.40 for each share having a nominal value of TL 1 on November 2005, and TL 1,172,347 was recorded as “Share
Premiums” in shareholders’ equity. TL 448,429 of this amount has been utilized in capital increase on 19 December 2006.
XXI. INFORMATION ON CONFIRMED BILLS OF EXCHANGE AND ACCEPTANCES
Confirmed bills of exchange and acceptances are realized simultaneously with the customer payments and recorded in off-balance sheet accounts as
possible debt and commitment, if any. As at the balance sheet date, there are no acceptances recorded as liability in return for assets.
XXII. INFORMATION ON GOVERNMENT INCENTIVES
As at 31 December 2015 and 31 December 2014, the Bank does not have any government incentives.
XXIII. INFORMATION ON SEGMENT REPORTING
An operating segment is a component of an entity:
- That engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions
with other components of the same entity),
- Whose operating results are regularly reviewed by the entity's chief operating decision maker to make decisions about resources to be allocated to
the segment and assess its performance, and
- For which discrete financial information is available.
Reporting according to the operational segment is presented in Note X of Section Four.
XXIV. OTHER MATTERS
Earnings per shares
Earnings per share has been calculated by dividing the net profit for the year to weighted average of outstanding shares. In Turkey, the companies may
perform capital increase (“Bonus Shares”) from retained earnings. In earning per share computation bonus shares are treated as issued shares.
As at and for the year ended 31 December 2015, earnings per 100 shares are full TL 0.7720 (31 December 2014: full TL 0.7013).
Related parties
Parties are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making
financial and operating decisions. Shareholders, top executives and board members are accepted as related party personally, with their families and
companies according to TAS 24 - Related Party Disclosures Standard. Transactions made with related parties are disclosed in Section 5 Note V.
Classifications
None.
