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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.)
Unconsolidated investments in subsidiaries
Title
Address
(City / Country)
Bank’s Share –
If Different,
Voting Rights (%)
Bank’s Risk
Group Share (%)
1 Vakıf Enerji ve Madencilik A.Ş.
(**)
Ankara/Turkey
65.50
84.96
2 Taksim Otelcilik A.Ş.
(*)
İstanbul/Turkey
51.00
51.52
3 Vakıf Pazarlama Sanayi ve Ticaret A.Ş.
(***)
İstanbul/Turkey
69.33
74.98
4 Vakıf Gayrimenkul Değerleme A.Ş.
(*)
Ankara/Turkey
54.29
58.57
Total Assets
Equity
Tangible
Assets
Interest
Income
Income on
Securities Portfolio
Current Year’s
Profit/(Loss)
Prior Years’
Profit/(Loss)
Fair Value
1
22,604
6,167
1,073
287
-
(1,736)
182
14,100
2
371,186
359,071
243,396
6,512
-
9,112
6,080
364,500
3
47,990
40,368
653
2,828
1,272
3,861
3,420
53,100
4
30,049
25,648
389
2,213
122
829
4,362
40,900
(*)
Financial information as at 30 September 2015 has been presented for these subsidiaries.
(**)
Financial information as at 30 June 2015 has been presented for these subsidiaries.
(***)
Financial information as at 31 December 2014 has been presented for these subsidiaries.
Unconsolidated subsidiaries, reasons for not consolidating such investments and accounting treatments applied for such investments:
Vakıf Enerji ve Madencilik A.Ş., Taksim Otelcilik A.Ş., Vakıf Pazarlama Sanayi ve Ticaret A.Ş. and Vakıf Gayrimenkul Değerleme A.Ş. have not been
consolidated since they are not among the financial subsidiaries of the Bank. Therefore, the subsidiaries whose fair value can be reliably measured are
reflected in the consolidated financial statements at their fair values.
In the current period, subsequent to the approval of the decision to increase the paid-in capital of Vakıf Gayrimenkul Değerleme A.Ş. from TL 7,000 to TL
14,000 by a bonus increase of TL 7,000 in the Ordinary Meeting of General Assembly of the Company dated 20 March 2015. After the capital increase,
The Parent Bank’s current nominal share has been increased from TL 3,800 to TL 7,600 by TL 3,800 and The Parent Bank’s share percentage has been
remained the same (54.29%).
In the prior period, at the Extraordinary General Assembly of Taksim Otelcilik A.Ş. dated 24 June 2014, the decision of increasing the capital from TL
269,257 to TL 334,257 through rights offering by TL 65,000. The related change has been registered on 22 July 2014. The nominal share of the Bank
TL 137,324 has been increased by cash TL 33,151 to TL 170,474. The share percentage of the Bank is remained the same 51.00%. TL 8,288 of the cash
commitment amounting to TL 33,151 is paid on 15 July 2014, TL 24,863 is paid on 2 October 2014.
