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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 Statement of Income
As at 31 December 2013
(Currency: Thousands of Turkish Lira (“TL”))
Notes
Audited
Current Year
31 December 2013
Audited
Previous Year
31 December 2012
I.
INTEREST INCOME
9,440,435
8,999,981
1.1 Interest income from loans
V-IV-1
7,619,741
7,003,040
1.2 Interest income from reserve deposits
-
-
1.3 Interest income from banks
V-IV-1
57,026
60,537
1.4 Interest income from money market transactions
906
3,576
1.5 Interest income from securities portfolio
V-IV-1
1,616,594
1,807,144
1.5.1 Trading financial assets
V-IV-1
14,909
32,459
1.5.2 Financial assets at fair value through profit or loss
-
-
1.5.3 Available-for-sale financial assets
V-IV-1
1,198,307
1,114,511
1.5.4 Held-to-maturity investments
V-IV-1
403,378
660,174
1.6 Finance lease income
64,693
47,303
1.7 Other interest income
81,475
78,381
II.
INTEREST EXPENSE
4,533,280
4,744,503
2.1 Interest expense on deposits
V-IV-2
3,543,409
3,946,141
2.2 Interest expense on funds borrowed
V-IV-2
175,752
178,898
2.3 Interest expense on money market transactions
387,285
350,006
2.4 Interest expense on securities issued
V-IV-2
257,758
173,243
2.5 Other interest expenses
169,076
96,215
III.
NET INTEREST INCOME (I -II)
4,907,155
4,255,478
IV.
NET FEES AND COMMISSIONS INCOME
629,107
418,105
4.1 Fees and commissions received
948,375
683,235
4.1.1 Non-cash loans
134,275
104,370
4.1.2 Others
814,100
578,865
4.2 Fees and commissions paid
319,268
265,130
4.2.1 Non-cash loans
742
131
4.2.2 Others
318,526
264,999
V.
DIVIDEND INCOME
V-IV-3
16,429
6,916
VI.
TRADING INCOME/LOSSES (Net)
V-IV-4
257,268
339,391
6.1 Trading account income/losses
V-IV-4
190,307
250,923
6.2 Income/losses from derivative financial instruments
V-IV-4
65,904
(23,660)
6.3 Foreign exchange gains/losses
V-IV-4
1,057
112,128
VII.
OTHER OPERATING INCOME
V-IV-5
1,465,262
1,298,661
VIII. TOTAL OPERATING PROFIT (III+IV+V+VI+VII)
7,275,221
6,318,551
IX.
PROVISION FOR LOSSES ON LOANS AND OTHER RECEIVABLES (-)
V-IV-6
1,940,577
1,451,568
X.
OTHER OPERATING EXPENSES (-)
V-IV-7
3,329,965
3,032,355
XI.
NET OPERATING PROFIT/LOSS (VIII-IX-X)
2,004,679
1,834,628
XII.
INCOME RESULTED FROM MERGERS
-
-
XIII. INCOME/LOSS FROM INVESTMENTS UNDER EQUITY ACCOUNTING
25,631
26,953
XIV. GAIN/LOSS ON NET MONETARY POSITION
-
-
XV.
INCOME/LOSS FROM CONTINUING OPERATIONS BEFORE TAXES (XI+XII+XIII+XIV)
V-IV-8
2,030,310
1,861,581
XVI. CONTINUING OPERATIONS PROVISION FOR TAXES
V-IV-9
(402,131)
(437,961)
16.1 Current tax charges
V-IV-11
(351,394)
(463,099)
16.2 Deferred tax credits
V-IV-11
(50,737)
25,138
XVII. NET INCOME/LOSS AFTER TAXES FROM CONTINUING OPERATIONS (XV±XVI)
V-IV-12
1,628,179
1,423,620
XVIII. INCOME FROM DISCONTINUED OPERATIONS
-
-
18.1 Income from investment properties
-
-
18.2 Income from sales of subsidiaries, affiliates and joint-ventures
-
-
18.3 Other income from discontinued activities
-
-
XIX. EXPENSES FROM DISCONTINUED OPERATIONS (-)
-
-
19.1 Investment property expenses
-
-
19.2 Losses from sales of subsidiaries, affiliates and joint ventures
-
-
19.3 Other expenses from discontinued activities
-
-
XX.
INCOME/LOSS FROM DISCONTINUED OPERATIONS BEFORE TAXES (XVIII-XIX)
-
-
XXI. DISCONTINUED OPERATIONS PROVISION FOR TAXES (±)
-
-
21.1 Current tax charge
-
-
21.2 Deferred tax charge
-
-
XXII. NET INCOME/LOSS AFTER TAXES FROM DISCONTINUED OPERATIONS (XX±XXI)
-
-
XXIII. NET PROFIT/LOSS (XVII+XXII)
V-IV-12
1,628,179
1,423,620
23.1 Equity holders of the Bank
1,652,474
1,423,451
23.2 Non-controlling interest
V-IV-13
(24,295)
169
Earnings per 100 share (full TL)
III-XXIV
0.6513
0.5694
The accompanying notes are an integral part of these consolidated financial statements.
VAKIFBANK ANNUAL REPORT 2013
209