VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 473 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.) The reconciliation of the deferred tax on the assets directly related to the equity is as follows as of December 31, 2018 and December 31, 2017: Current Period - December 31, 2018 Financial assets at fair value through other comprehensive income (8,688) Associates and subsidiaries (21,686) Tangible assets (51,682) Assets held for sale (5,079) Actuarial gains and losses 3,319 The effect of changes in accounting policies 40,408 Total (43,408) Prior Period - December 31, 2017 Securities available for sale (15,709) Associates and subsidiaries 234 Tangible assets (18) Actuarial gains and losses (5,955) Total (21,448) 16. Information on assets held for sale and assets related to the discontinued operations As at December 31, 2018, net book value of assets held for sale of the Group is amounting to TL 1,568,113 (December 31, 2017: TL 1,312,728). Vakıf Portföy Yönetimi AŞ, a subsidiary of The Parent 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. The balance sheet, income and expense items of Vakıf Portföy Yönetimi AŞ and the in-group transaction balances are given below. Assets Vakıf Portföy In Group Total net Cash and cash equivalents 34,648 (34,648) - Financial assets at fair value through profit or loss 93 - 93 Other assets 1,701 - 1,701 Total 36,442 (34,648) 1,794 Liabilities Vakıf Portföy In Group Total net Provisions 782 - 782 Current tax liabilities 717 - 717 Other liabilities 79 (32) 48 Total 1,578 (32) 1,547