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.) 466 Part III: Financial Highlights and Assessment of Risk Management Prior Period - December 31, 2017 Balance at the beginning of the period 1,528,228 Movements during the period 421,910 Transfers - Acquisitions - Bonus shares received 51,974 Share of current year profit (16,825) Sales and liquidations (232) Fair value changes 373,209 Impairment losses 13,784 Balance at the end of the period 1,950,138 Capital commitments - Share percentage at the end of the period (%) - Valuation of consolidated subsidiaries in unconsolidated financial statements Current Period - December 31, 2018 Measured at cost - Measured at fair value 2,129,732 Equity method of accounting - Total 2,129,732 Prior Period - December 31, 2017 Measured at cost - Measured at fair value 1,950,138 Equity method of accounting - Total 1,950,138 Sectoral distribution of consolidated investments in financial subsidiaries Current Period - December 31, 2018 Banks 403,558 Insurance companies 968,850 Factoring companies 170,189 Leasing companies 145,488 Financing companies - Other financial subsidiaries 441,647 Total 2,129,732