VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 267 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.) In the prior 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. In the prior period, at the Ordinary General Assembly Meeting held on July 13, 2017, Vakıf Faktoring AŞ, a subsidiary of our Bank, has resolved to increase its capital from TL 22,400 to TL 70,000 by a bonus increase of TL 47,600. TL 37,315 corresponding to our Bank’s shareholding is presented in the Bonus Shares in the movement table for the subsidiaries. In the prior period, it is decided to sell Güneş Sigorta AŞ’s 500,000 shares, that are traded in the stock market. After the selling, the bank’s share had decreased to TL 129,643 from TL 130,143. The sold shares, amounting TL 232, are presented in the Sales, in the movement table for the subsidiaries. After the selling, the bank’s share in Güneş Sigorta AŞ. had decreased to 48.02% from 48.20%. In the prior period, subsequent to the approval of the decision to increase the paid-in capital of Vakıf Gayrimenkul Yatırım Ortaklığı AŞ from TL 213,000 to TL 217,500 by a bonus increase of TL 4,500 in the Ordinary General Meeting of the Company dated June 16, 2017. The share of the Bank amounting to TL 1,742 is presented in the movement table of investments in subsidiaries as bonus shares received. In the prior period, subsequent to approval of the decision to increase the paid-in capital of Vakıf Finansal Kiralama A.Ş. from TL 87,000 to TL 109,000 by a bonus increase of TL 22,000 in the Ordinary Meeting of General Assembly of the company dated June 14, 2017. TL 12,917 corresponding to our Bank’s shareholding is presented in the Bonus Shares in the movement table for the subsidiaries. 9. Investments in joint-ventures None. 10. Information on finance lease receivables (net) None. 11. Information on hedging purpose derivatives Positive differences on derivative financial instruments held for risk management purposes None.