327
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.)
SECTION SIX
OTHER DISCLOSURES AND FOOTNOTES
I. OTHER DISCLOSURES ON THE PARENT BANK’S ACTIVITY
As per the resolution of 61st Annual General Assembly held on 30 March 2015, the net profit of year 2014 is decided to be distributed as follows:
Profit Distribution Table of Year 2014
Current year’s profit of the Parent Bank’s unconsolidated financial statements
1,753,273
Deferred tax income
(141,116)
Net profit of the year subject to distribution
1,612,157
Legal reserves
161,214
First legal reserves
80,607
Reserves allocated, according to banking law and articles of association
80,607
Net profit of the year subject to distribution
1,450,943
Gain on sale of immovable and shares of associates and subsidiaries
236,122
Extraordinary reserves
1,114,821
Dividends to the shareholders
100,000
II. INFORMATION ON THE PARENT BANK’S RATING GIVEN BY INTERNATIONAL CREDIT RATING INSTITUTIONS
February 2016
(*)
Fitch Ratings
Long Term Foreign Currency
BBB-
Short Term Foreign Currency
F3
Foreign Currency Outlook
Stable
Long Term Local Currency
BBB
Short Term Local Currency
F3
Local Currency Outlook
Stable
National Long Term
AAA (tur)
National Outlook
Stable
Support
2
Base Support Rating
BBB-
October 2015
(*)
Moody’s Investors’ Service
Baseline Credit Assessment
ba1
Local Currency Deposit Rating
Baa3 / P-3
Local Currency Outlook
Negative
Foreign Currency Deposit Rating
Baa3 / P-3
Foreign Currency Outlook
Negative
July 2015
(*)
Standard&Poors
Foreign Currency Credit Rating
BB+ / B
Foreign Currency Outlook
Negative
Local Currency Credit Rating
BB+ / B
Local Currency Outlook
Negative
National
trAA+ / trA-1
Continuance Rating
N.R
December 2014
(*)
Capital Intelligence
Financial Strength Rate
BBB-
Short Term Foreign Currency
B
Long Term Foreign Currency
BB+
Support Rating
2
Foreign Currency Outlook
Stable
(*)
Dates represent last report dates.
