VKF_FRAE_2017

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 EXPLANATIONS AND NOTES RELATED TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2017 (Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) PART III: FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT 370 VakıfBank Annual Report 2017 Movement of consolidated investments in associates Current Period Prior Period Balance at the beginning of the period 253,457 224,269 Movements during the period 49,502 29,188 Transfers - - Acquisitions - - Bonus shares received 29,321 29,632 Share of current year profit - - Sales/liquidations - - Fair value changes 20,181 (444) Impairment losses - - Balance at the end of the period 302,959 253,457 Capital commitments - - Share percentage at the end of period (%) - - Sectoral distribution of consolidated investments and associates Current Period Prior Period Banks 302,959 253,457 Insurance companies - - Factoring companies - - Leasing companies - - Financing companies - - Other financial associates - - Total 302,959 253,457 Quoted associates Current Period Prior Period Quoted at domestic stock exchanges 292,341 242,838 Quoted at international stock exchanges - - Total 292,341 242,838 Investments in associates disposed during the period There is not any associate disposed by the Parent Bank in the current period. Investments in associates acquired during the period There is not any associate acquired by the Parent Bank in the current period.