VKF_FRAE_2017

373 VakıfBank Annual Report 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.) Movement table of consolidated investments in subsidiaries in consolidated financial statements Current Period Prior Period Balance at the beginning of the period 1,528,228 1,350,170 Movements during the period 421,910 178,058 Transfers - - Acquisitions - 76,155 Bonus shares received 51,974 24,858 Share of current year profit (16,825) (1,314) Sales and liquidations (232) - Fair value changes 373,209 72,033 Impairment losses 13,784 6,326 Balance at the end of the period 1,950,138 1,528,228 Capital commitments - - Share percentage at the end of the period (%) - - Valuation of consolidated subsidiaries in unconsolidated financial statements Current Period Prior Period Measured at cost - - Measured at fair value 1,950,138 1,528,228 Equity method of accounting - - Total 1,950,138 1,528,228 Sectoral distribution of consolidated investments in financial subsidiaries Current Period Prior Period Banks 362,247 434,112 Insurance companies 835,401 568,089 Factoring companies 123,551 74,498 Leasing companies 136,632 79,019 Financing companies - - Other financial subsidiaries 492,307 372,510 Total 1,950,138 1,528,228 Quoted consolidated subsidiaries Current Period Prior Period Quoted at domestic stock exchanges 578,891 410,160 Quoted at international stock exchanges - - Total 578,891 410,160 Consolidated subsidiaries disposed during the period There is not any disposal in the consolidated subsidiaries in the current year. Consolidated investments in subsidiaries acquired during the period The Parent Bank does not have any subsidiary that are purchased in the current period in the scope of consolidation. In the current period, denomination of Vakıf Emeklilik AŞ has changed to “Vakıf Emeklilik ve Hayat AŞ” on July 26, 2017, respective alteration is registered officially in trade registry.