VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 467 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.) Prior Period- December 31, 2017 Banks 362,247 Insurance companies 835,401 Factoring companies 123,551 Leasing companies 136,632 Financing companies - Other financial subsidiaries 492,307 Total 1,950,138 Quoted consolidated subsidiaries Current Period - December 31, 2018 Quoted at domestic stock exchanges 518,361 Quoted at international stock exchanges - Total 518,361 Prior Period - December 31, 2017 Quoted at domestic stock exchanges 578,891 Quoted at international stock exchanges - Total 578,891 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 Vakıf Portföy Yönetimi AŞ, a subsidiary of the Bank, is excluded from the Subsidiaries account and started to be monitored in Assets Held for Sale and Assets Related to the Discontinued Operations account.  In the current period, it has been decided to sell 885,160 shares of Vakıf Menkul Kıymet Yatırım Ortaklığı A.Ş. After the sale, the Bank’s share decreased from TL 4,578 to TL 3,693. The share of the Bank amounting to TL 885 has been disclosed in Sales in the movement table of subsidiaries. After the sale, the Bank’s share in Vakıf Menkul Kıymet Yatırım Ortaklığı A.Ş. decreased from 22.89% to 18.47%. In the current period, Türkiye Vakıflar Bankası T.A.O, a shareholder of Vakıf Yatırım Menkul Değerler AŞ, purchased all of VakıfBank Personeli Özel Sosyal Güvenlik Hizmetleri Vakfı’s nominal shares of Vakıf Yatırım Menkul Değerler AŞ worth TL 87 for TL 433 on September 28, 2018. The purchased shares are presented in the Purchases, in the movement table for the affiliates. After the purchase, the bank’s nominal share in Vakıf Yatırım Menkul Değerler AŞ increased to TL 34,737 from TL 34,650 and share amount increased to 99.25% from 99.00%. In the current period, it is decided to increase the paid-in capital of Vakıf Portföy Yönetimi AŞ from TL 12,000 to TL 24,000 by a bonus increase of 100%. The share of the Bank amounting to TL 12,000 is presented in the movement table of investments in subsidiaries as bonus shares received. The subsidiary was included in Assets hels for sale in December 2018 and sold on January 2,2019.