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.) 470 Part III: Financial Highlights and Assessment of Risk Management 12. Information on tangible assets Real Estates Leased Tangible Assets Vehicles Other Tangible Assets Total Balance at the end of the prior year: Cost 1,215,322 120,731 23,750 1,454,182 2,813,985 Accumulated depreciation(-) 19,812 115,141 17,268 918,700 1,070,921 Impairment(-) 6,834 - - 4,821 11,655 Net book value 1,188,676 5,590 6,482 530,661 1,731,409 Balance at the end of the current year: Net book value at the beginning of the current year 1,188,676 5,590 6,482 530,661 1,731,409 Additions 491,985 - 40,607 342,732 875,324 Transfered cost 624,419 - - - 624,419 Transfered amortisation 27,892 - - - 27,892 Cost of the disposals 71,570 22 2,631 99,512 173,735 Classification of Assets Held for Sale and Discontinued Operations - - - 412 412 Classification Among the Tangible Fixed Assets - - - - - Depreciation of the disposals (-) 2,548 17 2,332 14,394 19,291 Depreciation of the current year 9,006 1,900 6,411 151,927 169,244 Classification Among the Depreciation of the Tangible Fixed Assets - - - - - Impairment (-) 23,874 - - 17,089 40,963 Exchange differences related to foreign associates - - 149 6,160 6,309 Cost at the end of the current year 2,260,156 120,709 61,875 1,703,150 4,145,890 Accumulated depreciation at the end of the year (-) 54,162 117,024 21,347 1,056,233 1,248,766 Impairment (-) 30,708 - - 21,910 52,618 Net book value at the end of the current year 2,175,286 3,685 40,528 625,007 2,844,506 13. Information on intangible assets Group’s intangible assets consist of computer softwares and licenses. The estimated useful life of intangible assets is five years. Intangible assets are amortized on a straight-line basis through the estimated useful lives over their costs adjusted for inflation for the items purchased before December 31, 2004, over their initial costs for the items purchased after December 31, 2004. In the current year an intangible asset that presents severity for the financial statements does not exist. Additionally the Group does not have intangible assets, which are obtained by government incentives, recorded at fair value, have utulisation restrictions or have been pledged. The Group has not declared a commitment to purchase intangible assets.