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PART III: FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT
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.)
31 December 2014
Level 1
Level 2
Level 3
Total
Financial assets at fair value through profit/loss:
Financial assets held for trading purpose:
Debt securities
10,798
55,355
-
66,153
Derivative financial assets held for trading purpose
-
379,576
-
379,576
Investment funds
2,947
-
-
2,947
Equity securities
1,565
-
1,565
Available-for-sale financial assets
Equity securities
-
-
-
-
Debt securities
15,378,036 1,493,064
-
16,871,100
Investments in associates and subsidiaries
203,092
-
259,823
(*)
462,915
Total Financial Assets
15,596,438 1,927,995
259,823 17,784,256
Financial liabilities at fair value through profit/loss:
-
-
-
-
Derivative financial liabilities held for trading purpose
-
(270,627)
-
(270,627)
Total Financial Liabilities
-
(270,627)
-
(270,627)
(*)
This amount consist of fair value of the affiliates and subsidiaries determined by independent valuation companies.
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
259,823
217,527
Total gains or losses for the year recognized in profit or loss
-
-
Total gains or losses for the year recognized under equity
91,343
42,296
Balance at the end of the year
351,166
259,823
IX. TRANSACTIONS CARRIED OUT ON BEHALF OF CUSTOMERS, ITEMS HELD IN TRUST
The Parent Bank provides buying, selling and custody services and management and advisory services in financial matters for its customers. The Group
is not involved in trust activities.
X. CONSOLIDATED SEGMENT REPORTING
The Parent 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, overdraft facilities, spot loans, foreign currency indexed loans, consumer loans,
automobile and housing loans, working capital loans, discounted bills, 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 Parent 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
has been built in order to serve customers’ needs effectively and efficiently.
Additionally, the Parent 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.
