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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.)
5. Information on profit distribution
As per the resolution of 61st Annual General Assembly held on 30 March 2015, the net profit of the year 2014 which amounts to TL 1,612,157
after deferred tax income deducted is decided to be distributed as legal reserves amounting to TL 161,215, extraordinary reserves amounting to TL
1,114,820, special funds amounting to TL 236,122 and dividends to equity holders of the Bank amounting to TL 100,000.
6. Information on decreases of revaluation of available-for-sale investments
Revaluation differences of available-for-sale investments has resulted with decrease in the current year. Detailed information about the decreases is
explained above in Note 1.
VI. INFORMATION AND DISCLOSURES ON STATEMENT OF CASH FLOWS
1. Disclosures for “other” items in statement of cash flows and effect of change in foreign currency rates cash and cash equivalents
“Other” item under the “operating profit before changes in operating assets and liabilities” amounting to TL (2,390,471) (31 December 2014: TL
(1,689,362)) is comprised of income from capital market transactions and derivative financial instruments and foreign exchange gains for the year
ended.
“Net increase/decrease in other liabilities” amounting to TL (2,301,550) (31 December 2014: TL 1,957,284) under “changes in operating assets and
liabilities” is mainly comprised of cash inflows from repurchase agreements.
“Other” item under “net cash flow from investing activities” amounting to TL (48,222) (31 December 2014: TL (45,874)) is comprised of purchases of
intangible assets.
When calculating exchange rate effect on cash and cash equivalents, related assests’ high turnover rate are taken into consideration. Each exchange
rate’s arithmetic average of the last five days before the report date and provision of average TL that is calculated from the difference from current
period’s exchange rate are reflected as an effect of exchange rate change on the cash flow statement. Except for the above-mentioned, banks that
have less than three months to maturity are accepted as cash equivalents and average TL provision is calculated by difference between related
operation’s per term exchange rate and current period’s exchange rate. As of 31.12.2015 impact of the exchange rate change on cash and cash
equivalents is TL 12,178 (31.12.2014: TL 6,249).
2. Cash outflows from acquisition of associates, subsidiaries and joint-ventures
There is not any cash flow that is related with Bank’s subsidiaries in the current and previous periods.
3. Cash flows from the disposal of associates, subsidiaries and joint-ventures
There is no disposal in associates, subsidiaries and joint-ventures in the current year.
