VKF_FRAE_2018_uyg11

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 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 (Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) 394 Part III: Financial Highlights and Assessment of Risk Management Exposure to currency risk 10% depreciation 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 consolidated equity and the consolidated statement of income (without tax effects) by the amounts shown in the table 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 199,177 199,177 Euro 52,717 138,861 Other currencies 934 934 Total, net (**) 252,828 338,972 Prior Period- December 31, 2017 Profit or loss Equity (*) US Dollar 77,112 77,112 Euro 53,674 114,642 Other currencies 318 318 Total, net (**) 131,104 192,072 (*) 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 2017 would have effect on consolidated equity and consolidated statement of income (without tax effects) by the amounts shown in the table below. Current Period- December 31, 2018 Profit or loss Equity (*) US Dollar (199,177) (199,177) Euro (52,717) (138,861) Other currencies (934) (934) Total, net (**) (252,828) (338,972) Prior Period- December 31, 2017 Profit or loss Equity (*) US Dollar (77,112) (77,112) Euro (53,674) (114,642) Other currencies (318) (318) Total, net (**) (131,104) (192,072) (*) 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.