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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”))
Convenience Translation of the Consolidated Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Section 3 Note I
IV. Consolidated Operational risk
The Group calculated the value at operational risk in accordance with the third section of “Regulation Regarding Measurement and Assessment of
Capital Adequacy Ratios of Banks” that is “Computation of Value of Operational Risk” published in 28 June 2012 dated Official Gazette no. 28337. The
operational risk which the Bank is exposed to is calculated according to the “Basic Indicator Method” hence by multipliying the average of the 15% of
last three years’ actual gross income with 12.5, in line with the effective legislation practices in the country.
Current Period
31 December
2010
31 December
2011
31 December
2012
Total / Total number of
years for which gross
income is positive Rate (%)
Total
Gross Income
4,371,279
4,917,176
6,009,190
3
15
764,882
Amount subject to operational
risk (Total*12,5)
9,561,025
Prior Period
31 December
2009
31 December
2010
31 December
2011
Total / Total number of
years for which gross
income is positive Rate (%)
Total
Gross Income
4,414,478
4,371,279
4,917,176
3
15
685,147
Amount subject to operational
risk (Total*12,5)
8,564,338
V. Consolidated foreign currency exchange risk
Foreign exchange risk that the Parent Bank is exposed to, estimation of effects of exposures, and the limits set by the Board of Directors
of the Parent Bank for the positions monitored on a daily basis
The Standard Method which is also used in the legal reporting is used in measuring the currency risk of the Parent Bank.
All of the foreign currency assets and liabilities and the forward foreign-currency transactions are taken into consideration in calculating the capital
obligation for the currency risk. The net long and short positions are calculated in Turkish Lira equivalent of the each currency. The position with the
biggest absolute value is determined as the base amount for the capital obligation. The capital obligation is calculated at that amount.
The magnitude of hedging foreign currency debt instruments and net investment in foreign operations by using derivatives
As at 31 December 2013 and 2012, the Group does not have derivate financial instruments held for risk management purpose
Foreign exchange risk management policy
Risk policy of the Bank is based on the transactions within the limits and keeping the currency position well-balanced. In the light of the national
legislations and international applications, the Parent Bank has established a foreign currency risk management policy that enables the Group to take
a position between lower and upper limits determined in respect of the current equity profile. Speculative position is not held by the Parent Bank.
The effective exchange rates at the date of balance sheet and for the last five working days of the period announced by the Parent Bank in TL are as
follows:
US Dollar
Euro
Foreign currency purchase rate at the balance sheet date
2.1400
2.9489
Foreign currency rates for the days before balance sheet date;
Day 1
2.0850
2.8644
Day 2
2.0800
2.8687
Day 3
2.0450
2.7980
Day 4
2.0250
2.7688
Day 5
2.0450
2.7982
Last 30-days arithmetical average rate
2.0032
2.7356
244