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.) 472 Part III: Financial Highlights and Assessment of Risk Management Prior Period - December 31, 2017 Provision for employee termination benefits and unused vacations 103,455 Other provisions 57,514 Valuation differences of associates and subsidiaries 55,424 Deductible financial losses 24,099 Investment incentives 373 Valuation differences of financial assets and liabilities 80,160 Reporting Standards - Tax Code depreciation differences - Other differences 17,108 Deferred tax assets 338,133 Net-off of the deferred tax assets and liabilities from the same entity (275,537) Deferred tax assets, (net) 62,596 Valuation differences of financial assets and liabilities 254,360 Valuation difference for associates and subsidiaries 21,501 Valuation differences of properties 51,801 Other differences 22,939 Deferred tax liabilities 350,601 Net-off of the deferred tax assets and liabilities from the same entity (275,537) Deferred tax liabilities, (net) 75,064 As at December 31, 2018 and December 31, 2017, items generating deferred tax assets or liabilities movement table is listed below: Current Period - December 31, 2018 As of 1 January (12,468) Adjustment according to TAS as of January, 1 (40,408) Deferred tax income/loss (244,441) Deferred tax that is accounted under Equity (43,408) Deferred tax that is accounted under general provision 504,448 Other (6,476) Deferred tax asset/(Liability) 157,247 Priror Period - December 31, 2017 As of 1 January 174,063 Deferred tax income/loss (160,372) Deferred tax that is accounted under Equity (21,448) Other (4,711) Deferred tax asset/(Liability) (12,468)