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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)
2. Disclosures of transactions with the Bank’s risk group
Relations with entities in the risk group of / or controlled by the Bank regardless of the nature of relationship among the parties
Transactions with the risk group are made on an arms-length basis; terms are set according to the market conditions and in compliance with the
Banking Law.
The branches of the Bank engage with insurance agency activities in relation with the operations of Güneş Sigorta AŞ and Vakıf Emeklilik AŞ, subsidiaries
operating in the insurance sector. Vakıf Yatırım Menkul Değerler engages with the management of the funds established by the Bank.
In addition to the structure of the relationship, type of transaction, amount, and share in total transaction volume, amount of significant
items, and share in all items, pricing policy and other
Pricing policy and other conditions of transactions with the risk group of the Bank, are determined and applied on arm’s length basis. The ratio of cash
and non-cash loans extended to the the risk group to the overall cash and non-cash loans are 0.11% (31 December 2012: 0.18%) and 3.19% (31
December 2012: 3.68%)
Current Year
Amount
Compared with the Financial
Statement Amount %
Cash Loans
94,901
0.11
Non-Cash Loans
743,919
3.19
Deposits
2,029,612
2.49
Forward and Option Agreements
86,592
0.33
Prior Year
Amount
Compared with the Financial
Statement Amount %
Cash Loans
120,446
0.18
Non-Cash Loans
634,003
3.68
Deposits
1,561,133
2.32
Forward and Option Agreements
-
-
VIII. Information on domestic, foreign and off-shore branches or investments and foreign representative offices
Domestic and foreign branches and representative offices
Number of Branches Number of Employees
Domestic Branches
(*)
856
14,900
Country
Foreign Representative
Offices
-
-
-
Total Assets
Capital
Foreign Branches
1
23
USA
2,938,068
35,310
1
16
Iraq
336,628
14,980
Off-shore Branches
1
4
Bahrain
16,070,869
-
(*)
Free zone branches in Turkey is included to domestic branches.
Opening or closing of domestic and foreign branches and representative offices and significant changes in organizational structure
During 2013, 115 new domestic branches (2012: 65 domestic branches) have been opened and no branches haven’t been closed (2012: none).
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