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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)
6. Information on derivative financial liabilites held for risk management purposes
Negative fair values of hedging purpose derivatives
None.
7. Information on provisions
Information on general provisions
Current Period
Prior period
Provisions for loans and receivables in Group I
1,004,336
786,341
-Additional provision for loans with extended payment plans
13,327
7,033
Provisions for loans and receivables in Group II
105,037
112,769
-Additional provision for loans with extended payment plans
3,297
9,331
Provisions for non-cash loans
76,647
53,713
Others
4,719
3,236
Total
1,190,739
956,059
Provision for currency exchange loss on foreign currency indexed loans
Current Year
Prior Year
Provision for currency exchange gain/loss on foreign currency indexed loans
90
16,623
The Bank has recorded provision for foreign exchange losses on principal amounts of foreign currency indexed loans amounting to TL 90 (31 December
2012: TL 16,623) and has reflected the related foreign exchange loss amount in the financial statements by offsetting from related loans.
Provisions for non-cash loans that are not indemnified or converted into cash
As of 31 December 2013, Bank has recorded TL 54,771 (31 December 2012: TL 36,173) as provisions for non-cash loans that are not indemnified or
converted into cash.
Information on other provisions
As of 31 December 2013 the Bank has recorded 5% (31 December 2012: 5%) provision for possible loan losses. Certain amount of this provision has
been recognized under general provisions, and remaining TL 70,915 (31 December 2012: TL 92,887) has been recorded as provisions for miscellaneous
risks under other provisions in the accompanying financial statements.
Information on other provisions exceeding 10% of total provisions
Current Year
Prior Year
Provision for loans under follow-up
70,915
92,887
Specific provisions for non-cash loans
54,771
36,173
Provisions for World Vakıf UBB Ltd with regard to its negative equity
38,047
28,329
Provisions for cheques
26,363
7,021
Provisions for lawsuits against the Bank
14,673
14,673
Provisions for credit card promotions
9,469
8,571
Others
65,960
39,850
Total
280,198
227,504
178