VAKIFBANK
2015 ANNUAL REPORT
244
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE IN NOTE I. OF SECTION THREE
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND
ITS FINANCIAL SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND
FOR THE YEAR ENDED 31 DECEMBER 2015
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
XX. ADDITIONAL INFORMATION ON BORROWINGS
The Parent Bank obtains funding resources such as syndication and securitization transactions in case of need. In the current period, the Parent Bank
has started to obtain funds through domestic and international bonds and bills. The Parent 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 group is not hedging about debt instruments.
XXI. INFORMATION ON ISSUANCE OF EQUITY SECURITIES
The shares of the Parent 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.
XXII. 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.
XXIII. INFORMATION ON GOVERNMENT INCENTIVES
As at 31 December 2015, Vakıf Finansal Kiralama A.Ş., a consolidated subsidiary of the Group, has unused investment incentives amounting to TL
220,278 (31 December 2014: TL 248,780).
XXIV. 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.
