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PART III: FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT
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.)
The reconciliation from the beginning balances to the ending balances for fair value measurements in Level 3 of the fair value hierarchy as at and for
the year ended 31 December 2015 is as follows:
Level 3
Current Period
Level 3
Prior Period
Balance at the beginning of the year
1,053,475
886,839
Total gains or losses for the year recognized in profit or loss
-
-
Total gains or losses for the year recognized under equity
299,379
166,636
Balance at the end of the year
1,352,854
1,053,475
IX. TRANSACTIONS CARRIED OUT ON BEHALF OF CUSTOMERS, ITEMS HELD IN TRUST
The Bank provides buying, selling and custody services and management and advisory services in financial matters for its customers. The Bank is not
involved in trust activities.
X. SEGMENT REPORTING
The Bank operates in corporate, commercial, small business, retail and investment banking. Accordingly, the banking products served to customers are;
time and demand deposit, accumulating account, repos, debtors current loans, spot loans, foreign currency indexed loans, consumer loans, automobile
and housing loans, working capital loans, discounted bills, overdraft facilities, gold loans, foreign currency loans, Eximbank loans, pre-export loans,
ECA covered financing, letters of guarantee, letters of credit, export factoring, acceptance credits, draft facilities, forfaiting, leasing, insurance, forward,
futures, salary payments, investment account, cheques, safety boxes, bill payments, tax collections, payment orders.
The Bank provides service packages to its corporate, commercial and retail customers including deposit, loans, foreign trade transactions, investment
products, cash management, leasing, factoring, insurance, credit cards, and other banking products. A customer-oriented branch network was built in
order to serve customers’ needs effectively and efficiently.
Additionally, the Bank provides “small business” banking service to enterprises in retail and service sectors. Products include overdraft accounts, POS
machines, credit cards, cheque books, TL and foreign currency deposits, investment accounts, internet banking and call-center, debit card, and bill
payment.
Retail banking customers form a wide-spread and sustainable deposit base for the Bank. Individual customers’ needs are met by diversified consumer
banking products through branches and alternative delivery channels.
