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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
SECTION FIVE
Disclosures and Footnotes on the Consolidated Financial Statements
I. Information and disclosures related to consolidated assets
1. Information on cash and balances with the Central Bank
Current Year
Previous Year
TL
FC
TL
FC
Cash
860,483
295,962
793,004
190,016
Central Bank of Turkey
(*)
922,802
16,870,433
1,452,478
9,870,679
Others
19,591
5,911
4,464
20,853
Total
1,802,876
17,172,306
2,249,946
10,081,548
(*)
TL 14,542,489 (31 December 2012: TL 8,108,813) of the foreign currency deposit at Central Bank of Turkey is comprised of foreign currency reserve deposits and related interest income accruals.
In accordance with “Announcement on Reserve Deposits” of CBT numbered 2005/1, all banks operating in Turkey shall provide a reserve rate of 11.5%
for demand deposits, and the rates decrease to 5% as maturities get longer (31 December 2012: 11% for demand deposits, and the rates decrease to
5% as maturities get longer). For foreign currency liabilities, all banks shall provide a reserve rate of 13% in US Dollar or Euro for demand and upto 1
year maturity deposits and rates decrease to 6% as maturities get longer (31 December 2012: 11.5% in US Dollar or Euro for demand and upto 1 year
maturity deposits and rates decrease to 6% as maturities get longer).
Balances with the Central Bank of Turkey
Current Year
Previous Year
TL
FC
TL
FC
Unrestricted demand deposits
922,799
1,043,944
1,449,530
693,866
Unrestricted time deposits
-
-
-
-
Restricted time deposits
(*)
3
1,284,000
2,948
1,068,000
Reserve Deposits
-
14,542,489
-
8,108,813
Total
922,802
16,870,433
1,452,478
9,870,679
(*)
The Parent Bank and CBT had disagreement about the reserve requirements deposited at CBT regarding the syndication loans obtained by foreign branches of the Parent Bank. Subsequent to the
decision, CBT required the Parent Bank to provide reserve requirement for loans obtained by foreign branches, the Parent Bank filed a claim in Ankara 15th Administrative Court for the suspension
of execution and cancellation of the decision. As at 15 June 2011, the court decided on refusal of the claim with the right to appeal on State Council. CBT requested the Parent Bank to provide
additional reserves amounting to USD 384 million in average for 3.5 years period with the 4 May 2011 dated communique. In this context, the Parent Bank has begun to provide additional reserve
requirements at 27 May 2011.
2. Further information on financial assets at fair value through profit/loss
Financial assets at fair value through profit/loss given as collateral or blocked
Current Year
Previous Year
TL
FC
TL
FC
Equity shares
-
-
-
-
Bonds, treasury bills and similar marketable securities
105,248
8,403
53,119
10,022
Others
-
-
-
-
Total
105,248
8,403
53,119
10,022
260