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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)
The reconciliation from the beginning balances to the ending balances for fair value measurements in Level 3 of the fair value hierarchy as at and for
the year ended 31 December 2013 is as follows:
Level 3 Current Period
Level 3 Prior Period
Balance at the beginning of the year
731,211
492,194
Total gains or losses for the year recognised in
profit or loss
-
-
Total gains or losses for the year recognised under
equity
155,628
239,017
Balance at the end of the year
886,839
731,211
IX. Transactions carried out on behalf of customers, items held in trust
The Bank provides buying, selling and custody services and management and advisory services in financial matters for its customers. The Bank is not
involved in trust activities.
X. Segment reporting
The Bank operates in corporate, commercial, small business, retail and investment banking. Accordingly, the banking products served to customers are;
time and demand deposit, accumulating account, repos, overdraft facilities, spot loans, foreign currency indexed loans, consumer loans, automobile
and housing loans, working capital loans, discounted bills, gold loans, foreign currency loans, eximbank loans, pre-export loans, ECA covered financing,
letters of guarantee, letters of credit, export factoring, acceptance credits, draft facilities, forfaiting, leasing, insurance, forward, futures, salary payments,
investment account, cheques, safety boxes, bill payments, tax collections, payment orders.
The Bank provides service packages to its corporate, commercial and retail customers including deposit, loans, foreign trade transactions, investment
products, cash management, leasing, factoring, insurance, credit cards, and other banking products. A customer-oriented branch network has been built
in order to serve customers’ needs effectively and efficiently.
Additionally, the Bank provides “small business” banking service to enterprises in retail and service sectors. Products include overdraft accounts, POS
machines, credit cards, cheque books, TL and foreign currency deposits, investment accounts, internet banking and call-center, debit card, and bill
payment.
Retail banking customers form a wide-spread and sustainable deposit base for the Bank. Individual customers’ needs are met by diversified consumer
banking products through branches and alternative delivery channels.
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