VKF_FRAE_2018_uyg11

196 Part III: Financial Highlights and Assessment of Risk Management CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE I. OF SECTION THREE TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED DECEMBER 31, 2018 (Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) Exposure to currency risk 10% appreciation of the TL against the following currencies as at and for the year ended December 31, 2018 and December 31, 2017 would have effect on equity and profit or loss (without tax effects) by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant. Current Period - December 31, 2018 Profit or loss Equity (*) US Dollar 184,352 184,352 Euro (2,156) (42,512) Other currencies 1,082 1,082 Total, net (**) 183,278 142,922 Prior Period- December 31, 2017 Profit or loss Equity (*) US Dollar 64,565 64,565 Euro (21,162) (21,162) Other currencies 233 233 Total, net (**) 43,636 43,636 (*) Equity effect also includes profit or loss effect of 10% devaluation of TL against related currencies. (**) Associates, subsidiaries and jointly controlled partnerships are included in the impact calculation for the income statement, but are not included in the impact calculation for the equity. Tangible and intangible assets are not included in the calculation of equity and income statement. 10% appreciation of the TL against the following currencies as at and for the year ended December 31, 2018 and December 31, 2017 would have effect on equity and profit or loss (without tax effects) by the amounts shown below. Current Period - December 31, 2018 Profit or loss Equity (*) US Dollar (184,352) (184,352) Euro 2,156 42,512 Other currencies (1,082) (1,082) Total, net (**) (183,278) (142,922) Prior Period - December 31, 2017 Profit or loss Equity (*) US Dollar (64,565) (64,565) Euro 21,162 21,162 Other currencies (233) (233) Total, net (**) (43,636) (43,636) (*) Equity effect also includes profit or loss effect of 10% revaluation of TL against related currencies. (**) Associates, subsidiaries and jointly controlled partnerships are included in the impact calculation for the income statement, but are not included in the impact calculation for the equity. Tangible and intangible assets are not included in the calculation of equity and income statement.