VKF_FRAE_2017

263 VakıfBank Annual Report 2017 CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUEDIN TURKISH, SEE NOTE I. OF SECTION THREE TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI EXPLANATIONS AND NOTES RELATED TO THE UNCONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2017 (Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) SECTION SIX OTHER DISCLOSURES I. OTHER DISCLOSURES ON THE BANK’S ACTIVITY As per the resolution of 63rd Annual General Assembly held on June 9, 2017, the net profit of year 2016 has been decided to be distributed as follows: Profit Distribution Table of Year 2016 Bank’s unconsolidated profit in its statutory financial statements 2,703,042 Deferred tax credits (19,941) Net profit of the year subject to distribution 2,683,101 Legal reserves 268,310 First Legal Reserves 134,155 Reserves allocated according to banking law and articles of association. 134,155 Net profit of the year subject to distribution 2,414,791 Gain on sale of immovable and shares of associates and subsidiaries 49,444 Extraordinary reserves 2,245,347 Dividends to shareholders 120,000 II. INFORMATION ON THE BANK’S RATING GIVEN BY INTERNATIONAL CREDIT RATING INSTITUTIONS 1 February 2018 Fitch Ratings Long Term Foreign Currency BB+ Short Term Foreign Currency B 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 3 Support Rating Floor BB+ Viability Note bb+ 2 February 2018 Moody’s Investors’ Service Baseline Credit Assessment ba2 Local Currency Deposit Rating Ba1/NP Local Currency Outlook Negative Foreign Currency Deposit Rating Ba2/NP Foreign Currency Outlook Negative 12 December 2017 Standard&Poors Foreign Currency Counterparty Credit Rating BB/B Foreign Currency Outlook Negative Local Currency Counterparty Credit Rating BB/B Local Currency Outlook Negative Turkey National Scale trAA-/trA-1 (*) Dates represent last report dates.