VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 471 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.) 14. Information on investment properties As of December 31, 2018, the Group has investment properties that have book amount of its subsidiaries which are operating in the insurance business is TL 101,795 (December 31, 2017: TL 8,377) and its subsidiaries which are operating in real estate investment business is TL 505,605 (December 31, 2017: TL 415,121). 15. Information on tax assets a) Current tax assets As at December 31, 2018 the current tax asset of the Group amounts to TL 2 (December 31, 2017: TL 1,016). b) Deferred tax assets Items generating deferred tax assets or liabilities are listed below as at December 31, 2018 and December 31, 2017: Current Period - December 31, 2018 Provision for employee termination benefits and unused vacations 122,272 Other provisions 73,828 Valuation differences of associates and subsidiaries 115,933 Deductible financial losses 16,830 Investment incentives 3,699 Valuation differences of financial assets and liabilities 42,008 Reporting Standards - Tax Code depreciation differences - Provision (General Provision) 626,608 Other differences 18,536 Deferred tax assets 1,019,714 Net-off of the deferred tax assets and liabilities from the same entity (830,746) Deferred tax assets, (net) 188,968 Valuation differences of financial assets and liabilities 621,513 Valuation difference for associates and subsidiaries 111,720 Valuation differences of properties 93,668 Other differences 35,566 Deferred tax liabilities 862,467 Net-off of the deferred tax assets and liabilities from the same entity (830,746) Deferred tax liabilities, (net) 31,721