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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
7. Investments in associates
Unconsolidated investments in associates
Company
Address (City/
Country)
Bank’s Share – If Different,
Voting Rights (%)
Bank Risk Group’s
Share (%)
1 Roketsan Roket Sanayi ve Ticaret AŞ
(*)
Ankara/Turkey
9.93
9.93
2 Bankalararası Kart Merkezi AŞ
İstanbul/Turkey
9.70
9.70
3 Kredi Kayıt Bürosu AŞ
İstanbul/Turkey
9.09
9.09
4 Güçbirliği Holding AŞ
İzmir/Turkey
0.07
0.07
5 İzmir Enternasyonel Otelcilik AŞ
İstanbul/Turkey
5.00
5.00
6 İstanbul Takas ve Saklama Bankası AŞ
(*)
İstanbul/Turkey
4.86
5.28
7 Kredi Garanti Fonu AŞ
(*)
Ankara/Turkey
1.75
1.75
8 World Vakıf UBB Ltd. in Liquidation
Lefkoşa/NCTR
82.00
85.24
Total Assets
Equity Tangible Assets Interest Income
Income on
Securities
Portfolio
Current Year’s
Profit/(Loss)
Prior Year’s
Profit/Loss
Fair
Value
1
2,195,033
407,036
304,993
22,370
-
30,555
61,905
-
2
35,583
22,332
19,380
511
14
2,644
1,247
-
3
100,413
83,442
52,127
2,546
-
32,665
33,184
-
4
128,925
(5,972)
88,081
401
-
(14,139)
(3,706)
-
5
99,318
26,007
94,127
-
-
(10,855)
2,373
-
6
5,596,026
590,396
20,122
116,776
6,894
81,809
55,168
-
7
277,342
271,721
3,178
7,385
-
10,746
6,692
-
8
1,560
(46,400)
-
2
-
(4,369)
(3,639)
-
(*)
Financial information as at and for the nine-month period ended 30 September 2013 has been presented for these associates.
The liquidation process of World Vakıf UBB Ltd, an associate of the Bank, has been carried out by NCTR Collecting and Liquidation Office. The application
of the company for cancellation of the liquidation has been rejected and the decision of liquidation has been agreed. Thus, the company’s name has
been changed as “World Vakıf UBB Ltd in Liquidation”.
Roketsan Roket Sanayi ve Ticaret AŞ, an associate of the Bank, has merged with its subsidiary Tapasan-Hassas Mekanik ve Elektronik Sanayi ve Ticaret
AŞ, with dissolution of Tapasan-Hassas Mekanik ve Elektronik Sanayi ve Ticaret AŞ without liquidation. The merge has been registered in trade registry
gazette on 29 June 2012. With the merger, the share of the Bank has increased by TL 4 from TL 14,600 to TL 14,604 and the ownership ratio of the
Parent Bank has decreased from 10.00% to 9.93% due to two new shareholders from Tapasan-Hassas Mekanik ve Elektronik Sanayi ve Ticaret AŞ.
As per 5 April 2012 dated and 4686 numbered decision of the BRSA, Kredi Kayıt Bürosu AŞ and Bankalararası Kart Merkezi AŞ has been classified as non-
financial associates. Based on this decision, Kredi Kayıt Bürosu AŞ ve Bankalararası Kart Merkezi have been transferred to “Other Business Enterprises”
account from “Other financial investments” account.
The name of World Vakıf Off Shore Banking Ltd, a subsidiary of the Bank, was changed as World Vakıf UBB. Ltd. on 4 February 2009. Pursuant to the 4
March 2010 dated and 764 numbered decision of Board of Directors of Central Bank of Turkish Republic of Northern Cyprus, the official authorisation
of World Vakıf UBB Ltd., operating in NCTR, is abrogated due to incompliance with the 7th and 9th articles of 41/2008 numbered Law of International
Banking Units. According to 24 May 2010 dated decision of the Nicosia Local Court, World Vakıf UBB Ltd. will be liquidated and NCTR Company Registrar
is appointed to carry out liquidation process. Due to loss of control over Company, World Vakıf UBB Ltd. has been reclassifed “Investments in associates”.
The financial statements of the Company have not been consolidated, but its equity until the liquidation decision date has been included in the
accompanying consolidated financial statements.
VAKIFBANK ANNUAL REPORT 2013
269