301
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.)
12. Information on tangible assets
Real Estates
Leased
Tangible Assets
Vehicles
Other
Tangible Assets
Total
Balance at the end of the prior year:
Cost
693,825
137,264
45,929
941,529
1,818,547
Accumulated depreciation(-)
262,319
128,354
36,855
587,922
1,015,450
Impairment(-)
18,224
-
-
-
18,224
Net book value
413,282
8,910
9,074
353,607
784,873
Balance at the end of the current year:
Net book value at the beginning of the current year
413,282
8,910
9,074
353,607
784,873
Additions
1,064,712
5,211
1,935
234,534
1,306,392
Cost of the disposals
539,076
9,743
9,664
18,433
576,916
Depreciation of the disposals (-)
268,421
9,695
8,652
8,326
295,094
Depreciation of the current year
16,578
3,237
4,704
108,691
133,210
Impairment (-)
6,475
1,930
406
13,380
22,191
Exchange differences related to foreign associates
32
-
-
44
76
Cost at the end of the current year
1,219,493
132,732
38,200
1,157,674
2,548,099
Accumulated depreciation at the end of the year (-)
10,476
121,896
32,907
688,287
853,566
Impairment (-)
24,699
1,930
406
13,380
40,415
Net book value at the end of the current year
1,184,318
8,906
4,887
456,007
1,654,118
13. Information on intangible assets
Group’s intangible assets consist of computer softwares and licenses. The estimated useful life of intangible assets is five years. Intangible assets are
amortized on a straight-line basis through the estimated useful lives over their costs adjusted for inflation for the items purchased before 31 December
2004, over their initial costs for the items purchased after 31 December 2004.
In the current year an intangible asset that presents severity for the financial statements does not exist.
Additionally the Group does not have intangible assets, which are obtained by government incentives, recorded at fair value, have utulisation
restrictions or have been pledged.
The Group has not declared a commitment to purchase intangible assets.
14. Information on investment properties
As at 31 December 2015, the Group has investment property amounting to TL 9,924 (31 December 2014: TL 24,185) which belongs the subsidiaries
operating in the insurance business and TL 277,802 (31 December 2014: 167,815) which belongs the subsidiaries operating in real estate investment.
15. Information on tax assets
Current tax assets
As at 31 December 2015 the current tax asset of the Group amounts to TL 3,731 (31 December 2014: TL 9,331).
