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Türkiye Vakıflar Bankası Türk Anonim Ortaklığı
Unconsolidated Financial Report as at and
For the Year Ended 31 December 2013
(Currency: Thousands of TurkIsh Lıra (“TL”))
(Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Section 3 Note I)
Foreign exchange risk management policy
Risk policy of the Bank is based on the transactions within the limits and keeping the currency position well-balanced.
In the light of the national legislations and international applications, the Bank has established a foreign currency risk management policy that enables
the Bank to take position between lower and upper limits determined in respect of the current equity profile. Speculative position is not held by the
Bank.
The Bank’s effective exchange rates at the date of balance sheet and for the last five working days of the year announced by the Bank in TL are as
follows:
US Dollar
Euro
The Bank’s foreign currency purchase rate at the balance sheet date
2.1400
2.9489
Foreign currency rates for the days before balance sheet date;
Day 1
2.0850
2.8644
Day 2
2.0800
2.8687
Day 3
2.0450
2.7980
Day 4
2.0250
2.7688
Day 5
2.0450
2.7982
US Dollar
Euro
Last 30-days arithmetical average rate
2.0032
2.7356
Information on currency risk
Current Year
Euro
US Dollar
Other FCs
Total
Assets:
Cash and balances with the Central Bank of Turkey
5,785,132
7,616,111
3,764,000
17,165,243
Banks
103,305
2,437,131
58,524
2,598,960
Financial assets at fair value through profit or loss
(1)
-
22,999
-
22,999
Interbank money market placements
-
-
-
-
Available-for-sale financial assets
1,039,732
2,696,490
-
3,736,222
Loans and receivables
(2)
7,413,360
16,746,692
58,133
24,218,185
Associates, subsidiaries and joint-ventures(business combinations)
270,577
-
-
270,577
Held-to-maturity investments
-
45,073
-
45,073
Derivative financial assets held for risk management purpose
-
-
-
-
Tangible assets
-
1,802
-
1,802
Intangible assets
-
128
-
128
Other assets
(3)
65,392
683,342
113
748,847
Total assets
14,677,498
30,249,768
3,880,770
48,808,036
Liabilities:
Bank deposits
599,357
2,169,705
2,371
2,771,433
Foreign currency deposits
8,741,535
9,450,354
1,128,294
19,320,183
Interbank money market takings
580,039
5,882,383
-
6,462,422
Funds borrowed
4,959,813
6,308,683
14,142
11,282,638
Securities issued
29,720
4,471,861
28,065
4,529,646
Miscellaneous payables
156,179
20,837
12,554
189,570
Derivative financial liabilities held for risk management purpose
-
-
-
-
Other liabilities
(1)
(4)
73,478
2,998,134
4,128
3,075,740
Total liabilities
15,140,121
31,301,957
1,189,554
47,631,632
Net ‘On Balance Sheet’ Position
(462,623)
(1,052,189)
2,691,216
1,176,404
Net ‘Off-Balance Sheet’ Position
570,050
1,099,915 (2,701,033)
(1,031,068)
Derivative Financial Assets
(6)
1,787,998
8,258,319
1,437,036
11,483,353
Derivative Financial Liabilities
(6)
1,217,948
7,158,404
4,138,069
12,514,421
Non-Cash Loans
(5)
1,526,332
7,179,775
347,230
9,053,337
142