VakıfBank Annual Report 2015 - page 302

VAKIFBANK
2015 ANNUAL REPORT
302
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.)
Deferred tax assets
Items generating deferred tax assets or liabilities are listed below as at 31 December 2015 and 31 December 2014:
Current Period
Prior Period
Provision for employee termination benefits and unused vacations
91,563
81,757
Other provisions
81,175
28,083
Valuation differences of associates and subsidiaries
27,704
54,050
Deductible financial losses
26,418
-
Investment incentives
9,697
17,213
Valuation differences of financial assets and liabilities
78,160
121,671
Reporting Standards - Tax Code depreciation differences
7,252
10,303
Other differences
5,209
14,615
Deferred tax assets
327,178
327,692
Net-off of the deferred tax assets and liabilities from the same entity
(187,993)
(154,733)
Deferred tax assets, (net)
139,185
172,959
Valuation differences of financial assets and liabilities
133,654
122,064
Valuation difference for associates and subsidiaries
18,421
40,059
Valuation differences of properties
47,351
-
Other differences
11,657
7,818
Deferred tax liabilities
211,083
169,941
Net-off of the deferred tax assets and liabilities from the same entity
(187,993)
(154,733)
Deferred tax liabilities, (net)
23,090
15,208
16. Information on assets held for sale and assets related to the discontinued operations
As at 31 December 2015, net book value of assets held for sale of the Group is amounting to TL 994,991 (31 December 2014: TL 747,482).
17. Information on other assets
As at 31 December 2015 and 31 December 2014, the details of other assets are as follows:
Current Period
Prior Period
Receivables from insurance operations
1,002,182
842,523
Receivables from credit card payments
923,489
772,007
Prepaid expenses
669,777
705,381
Guarantees given for repurchase agreements
143,978
193,605
Guarantees given for derivative financial instruments
501,035
351,579
Receivables from term sale of assets
44,567
68,664
Receivables from reinsurance companies
23,311
54,057
Deferred commission expenses
68,427
31,841
Other
675,587
338,730
Total
4,052,353
3,358,387
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