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Convenience Translation of the Consolidated Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Section 3 Note I
Türkiye Vakıflar Bankası Türk Anonim Ortaklığı
and Its Financial Subsidiaries Consolidated Financial
Report as at and For the Year Ended 31 December 2013
(Currency: Thousands of Turkish Lira (“TL”))
IV. Information on individuals and entities who have qualified share in the Parent Bank
The shareholder holding control over the Bank is the General Directorate of the Registered Foundations and Appendant Foundations represented by the
General Directorate of the Foundations having 58.45% of the Bank’s outstanding shares. Another organization holding qualified share in the Bank is
Vakıfbank Memur ve Hizmetlileri Emekli ve Sağlık Yardım Sandığı Vakfı, having 16.10% of outstanding shares of the Bank.
V. Information about the services and nature of activities of the Parent Bank
The Bank was established under the authorization of special law numbered 6219, called “the Law of Türkiye Vakıflar Bankası Türk Anonim Ortaklığı”,
on 11 January 1954 within the framework of the authority granted to The General Directorate of the Foundations. Operational activities of the Bank as
stated at its Articles of Association are as follows:
• Lending loans by granting securities and real estates against,
• Establishing or participating in all kinds of insurance corporations already established,
• Trading real estates,
• Servicing all banking operations and services,
• Operating real estates and participating in industrial sectors for corporations handed over by foundations and General Directorate of the Foundations in
line with conditions stipulated by agreements if signed.
• The Bank is established to render banking services to the foundations and carry out cashier transactions of the General Directorate of Foundations in
compliance with the agreements signed by General Directorate of the Foundations.
As at 31 December 2013, the Parent Bank has 856 domestic, 3 foreign, in total 859 branches (31 December 2012: 741 domestic, 3 foreign, in total 744
branches). As at 31 December 2013, the Parent Bank has 14,943 employees (31 December 2012: 13,463 employees).
VI. Differences between the Communique on Preparation of Consolidated Financial Statements of Banks and Turkish Accounting
Standards and short explanatıon about the institutions subject to line-by-line method or proportional consolidation and
institutions which are deducted from equity or not included in these three methods
As at and for the year ended 31 December 2013, the financial statements of T. Vakıflar Bankası TAO, Vakıf International AG, Vakıf Finansal Kiralama AŞ,
Güneş Sigorta AŞ, Vakıf Emeklilik AŞ, Vakıf Finans Factoring Hizmetleri AŞ, Vakıf Yatırım Menkul Değerler AŞ, Vakıf Portföy Yönetimi AŞ, Vakıf Gayrimenkul
Yatırım Ortaklığı AŞ and Vakıf B Tipi Menkul Kıymetler Yatırım Ortaklığı AŞ have been included in the consolidated financial statements of the Group.
As at and for the year ended 31 December 2013, the financial statements of Kıbrıs Vakıflar Bankası Ltd and Türkiye Sınai Kalkınma Bankası AŞ have been
consolidated per equity method in the consolidated financial statements of the Group.
İstanbul Takas ve Saklama Bankası AŞ and Kredi Garanti Fonu AŞ have not been consolidated since their total assets and net operating profit/(loss)
individually or as a whole, do not comprise a material portion within the consolidated totals. Since Bankalararası Kart Merkezi AŞ, Kredi Kayıt Bürosu
AŞ, Roketsan Roket Sanayi ve Ticaret AŞ, Güçbirliği Holding AŞ and İzmir Enternasyonel AŞ are not financial associates; these associates have not been
consolidated. These associates have been accounted for as per TAS-39 in the consolidated financial statements.
Vakıf Enerji ve Madencilik AŞ, Taksim Otelcilik AŞ, Vakıf Pazarlama Sanayi ve Ticaret AŞ and Vakıf Gayrimenkul Değerleme AŞ have not been consolidated
since they are not among the financial subsidiaries of the Bank. Therefore, the subsidiaries are reflected in the consolidated financial statements at their
fair values.
VII. The existing or potential, actual or legal obstacles on the transfer of shareholders’ equity between the Parent Bank and its
subsidiaries or the reimbursement of liabilities
The transfer of equities between the Bank and its subsidiaries is not immediate. Distribution of profits within equity as dividends complies with
respective regulations. There are not any actual or foreseen juristical obstacles against the Bank and its subsidiaries on repayments of debts in between.
VAKIFBANK ANNUAL REPORT 2013
205