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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)
Vakıf Gayrimenkul Yatırım Ortaklığı AŞ and Vakıf B Tipi Menkul Kıymetler Yatırım Ortaklığı AŞ that were accounted as investments in associate in 2012
have been classified as subsidiary beginning from 1 January 2013 and presented in the transfers in movement table of investments in subsidiary.
In year 2012, subsequent to approval of the decision to increase the paid-in capital of Vakıf Gayrimenkul Değerleme AŞ, a subsidiary of the Bank, from
TL 3,500 to TL 7,000 through bonus issuance, the share of the Bank amounting to TL 1,900 is presented in bonus shares received line in movement table
of investments in subsidiaries.
9. Investments in joint-ventures
None.
10. Information on finance lease receivables (net)
None
11. Information on hedging purpose derivatives
Positive differences on derivative financial instruments held for risk management
None.
12. Information on tangible assets
Real Estates
Leased
Tangible Assets
Vehicles
Other
Tangible Assets
Total
Balance at the end of the prior year:
Cost
1,181,231
153,232
49,389
631,279
2,015,131
Accumulated depreciation(-)
274,234
137,171
30,236
418,976
860,617
Impairment
19,947
-
-
-
19,947
Net book value
887,050
16,061
19,153
212,303
1,134,567
Balance at the end of the current year:
Net book value at the beginning of the current year
887,050
16,061
19,153
212,303
1,134,567
Additions
258,116
-
-
151,956
410,072
Cost of the disposals
225,344
16,117
1,628
11,874
254,963
Depreciation of the disposals (-)
29,343
15,906
1,554
4,487
51,290
Depreciation of the current year (-)
32,666
4,849
6,470
69,446
113,431
Impairment (-)
4,000
-
-
-
4,000
Cost at the end of the current year
1,214,003
137,115
47,761
771,361
2,170,240
Accumulated depreciation at the end of the year (-)
277,557
126,114
35,152
483,935
922,758
Impairment (-)
(*)
23,947
-
-
-
23,947
Net book value at the end of the current year
912,499
11,001
12,609
287,426
1,223,535
(*)
In conjunction with the 5th subclause of “Regulation on the procedures and principles for sales and purchase of precious metal and disposal of tangible assets that have been acquired due to
receivables by Banks” of BRSA which has been published in the Official Gazette no. 26333 on 1 November 2006, in case assets that are not subject to amortization are not disposed within three
years following the acquisition date, they shall be amortized through recording provisions at a rate of 5% for each year after the acquisition date. In this frame, the Bank has booked TL 23,947
provision as at 31 December 2013 (31 December 2012: TL 19,947) taking the temporary clause of the regulation defining the acquisition date into account.
13. Information on intangible assets
Bank’s intangible assets consist of computer softwares. The estimated useful life of intangible assets is five years. Intangible assets are amortized on a
straight-line basis over the estimated useful lifes. The Bank divides the extinction share of intangible assets according to inflation adjusted values.
In the current year an intangible asset that presents severity for the financial statements does not exist.
The Bank does not have intangible assets, which are obtained by government incentives, recorded at fair value, have utulisation restrictions or have
been pledged.
The Bank did not declared a commitment to purchase intangible assets.
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