Basic HTML Version
Türkiye Vakıflar Bankası Türk Anonim Ortaklığı
Unconsolidated Financial Report as at and
For the Year Ended 31 December 2013
(Currency: Thousands of Turkısh Lıra (“TL”))
(Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Section 3 Note I)
SECTION FIVE
Disclosures and Footnotes on Unconsolidated Financial Statements
I. Information and disclosures related to assets
1. Cash and balances with Central Bank
Current Year
Prior Year
TL
FC
TL
FC
Cash
860,452
288,899
792,976
186,191
Central Bank of Turkey
(*)
922,802
16,870,433
1,452,478
9,870,679
Others
19,584
5,911
4,448
20,853
Total
1,802,838
17,165,243
2,249,902
10,077,723
(*)
TL 14,542,489 (31 December 2012: TL 8,108,813) of the foreign currency deposit at Central Bank of Turkey is comprised of foreign currency reserve deposits and related interest income accruals.
In accordance with “Announcement on Reserve Deposits” of CBT numbered 2005/1, all banks operating in Turkey shall provide a reserve rate of 11.5%
for demand deposits, and the rates decrease to 5% as maturities get longer (31 December 2012: 11% for demand deposits, and the rates decrease to
5% as maturities get longer). For foreign currency liabilities, all banks shall provide a reserve rate of 13% in US Dollar or Euro for demand and up to 1
year maturity deposits and rates decrease to 6% as maturities get longer (31 December 2012: 11.5% for demand and up to 1 year maturity deposits
and rates decrease to 6% as maturities get longer).
Balances at CBT
Current Year
Prior Year
TL
FC
TL
FC
Unrestricted Demand Deposits
922,799
1,043,944
1,449,530
693,866
Unrestricted Time Deposits
-
-
-
-
Restricted Time Deposits
(*)
3
1,284,000
2,948
1,068,000
Reserve Deposits
-
14,542,489
-
8,108,813
Total
922,802
16,870,433
1,452,478
9,870,679
(*)
The Bank and CBT had disagreement about the reserve requirements deposited at CBT regarding the syndication loans obtained by foreign branches of the Bank. Subsequent to the decision,
CBT required the Bank to provide reserve requirement for loans obtained by foreign branches, the Bank filed a claim in Ankara 15th Administrative Court for the suspension of execution and
cancellation of the decision. As at 15 June 2011, the court decided on refusal of the claim with the right to appeal on State Council. CBT requested the Bank to provide additional reserves
amounting to USD 384 million in average for 3.5 years period with the 4 May 2011 dated communique. In this context, the Bank has begun to provide additional reserve requirements at 27 May
2011.
2. Further information on financial assets at fair value through profit/loss
Trading securities blocked/provided as collateral
None.
Trading securities subject to repurchase agreements
None.
VAKIFBANK ANNUAL REPORT 2013
157