VKF_FRAE_2018_uyg11

VakıfBank Annual Report 2018 511 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.) VIII. INFORMATION ON DOMESTIC, FOREIGN AND OFF-SHORE BRANCHES OR INVESTMENTS AND FOREIGN REPRESENTATIVE OFFICES OF THE PARENT BANK Domestic and foreign branches and representative offices Number of Branches Number of Employees Domestic Branches (*) 948 16,721 Country Foreign Representative Offices - - Total Assets Capital Foreign Branches 1 25 USA 4,331,529 87,120 1 16 Iraq 609,742 264,000 Off-shore Branches 1 5 Bahrain 23,271,613 - (*) Free zone branches in Turkey is included to domestic branches. Opening or closing of domestic and foreign branches and representative offices and significant changes in organizational structure During 2018, 38 new domestic branches (2017: 7 domestic branches) have been opened and 14 have been closed (2017: 4).  SECTION SIX OTHER DISCLOSURES AND FOOTNOTES I. OTHER DISCLOSURES ON THE PARENT BANK’S ACTIVITY As per the resolution of 64rd Annual General Assembly held on August 13, 2018, the net profit of year 2017 has been decided to be distributed as follows: Profit Distribution Table of Year 2017 Bank’s unconsolidated profit in its statutory financial statements 3,723,383 Deferred tax credits - Net profit of the year subject to distribution 3,723,383 Legal reserves 372,338 First Legal Reserves 186,169 Reserves allocated according to banking law and articles of association. 186,169 Net profit of the year subject to distribution 3,351,045 Gain on sale of immovable and shares of associates and subsidiaries 29,665 Extraordinary reserves 3,196,380 Dividends to shareholders 125,000