VAKIFBANK
2015 ANNUAL REPORT
300
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.)
In the prior period, related to the capital increase of Vakıf Gayrimenkul Yatırım Ortaklığı A.Ş. from TL 106,200 to TL 203,320, the Bank has obtained
shares with a nominal value of TL 29,345 at a rate of TL 3.44 by using the stock rights. For these shares TL 100,947 has been paid. Besides, Bank has
obtained shares with a nominal value of TL 20,000 at TL 3.44 rate since the other shareholders did not use their stock rights. Bank has paid TL 68,800
for the shares. As at 4 July 2014, company’s capital increase has been registered and as of the date the existing nominal share of the Bank has been
increased from TL 29,345 to TL 78,690 Bank’s share percentage has been increased from 27.63% to 38.70%. The capital increase as of TL 169,747 is
presented in the acquisitions and capital increases in the movement table of investments in subsidiaries.
In the prior period, the title of Vakıf B Tipi Menkul Kıymetler Yatırım Ortaklığı has been changed to Vakıf Menkul Kıymet Yatırım Ortaklığı. The new title of
the company has been registered on 9 April 2014.
9. Investments in joint-ventures
There is not any investment in joint-ventures of the Group.
10. Information on finance lease receivables (net)
Finance lease receivables disclosed according to remaining maturities
Current Period
Prior Period
Gross
Net
Gross
Net
Less than 1 year
82,589
78,324
61,740
59,415
Between 1-4 years
782,065
694,895
693,909
593,778
Longer than 4 years
671,417
552,606
518,153
436,794
Total
1,536,071
1,325,825
1,273,802
1,089,987
Net investments in finance lease receivables
Current Period
Prior Period
Gross finance lease receivables
1,536,071
1,273,802
Unearned income on finance lease receivables (-)
(210,246)
(183,815)
Terminated lease contracts (-)
-
-
Net finance lease receivables
1,325,825
1,089,987
Finance lease agreements
Sum of the minimum lease payments including interest and principal amounts are stated under the “finance lease receivables” as gross. The difference
between the total of rent payments and the cost of the related fixed assets is reflected to the “unearned income” account. If the lease payments are
made, the lease principal amount is deducted from the “finance lease receivables” as the interest component of the payment is reflected to interest
income on the consolidated statement of income.
11. Information on derivative financial instruments held for risk management purposes
Positive differences on derivative financial instruments held for risk management purposes
None.
