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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
Sectoral distribution of consolidated investments and associates
Current Year
Previous Year
Banks
203,241
217,563
Insurance companies
-
-
Factoring companies
-
-
Leasing companies
-
-
Finance companies
-
-
Other financial associates
-
-
Total
203,241
217,563
Quoted associates
Current Year
Previous Year
Quoted at domestic stock exchanges
197,122
211,444
Quoted at international stock exchanges
-
-
Total
197,122
211,444
Investments in associates disposed during the year
There is not any consolidated associate disposed in the current year.
Investments in associates acquired during the year
There is not any associate acquired in the current year.
In the current period, the capital of İstanbul Takas ve Saklama Bankası, an associate of the Parent Bank, has been increased from TL 60,000 to TL
420,000, TL 180,000 is paid from its own resources and TL 180,000 is paid in cash amounting to TL 360,000 in total.
In the current period, subsequent to the approval of the decision to increase the paid-in capital of Türkiye Sınai Kalkınma Bankası AŞ, an associate of
the Parent Bank, from TL 1,100,000 to TL 1,300,000, by the General Assembly of the Company, the share of the Parent Bank amounting to TL 16,755 is
presented in the movement table of investments in associates as bonus shares received.
Per General Assembly of the Kredi Garanti Fonu an associate of the Parent Bank held on 30 May 2012, the decision for merger of Türk Ekonomi Bankası
AŞ and Fortisbank AŞ has taken. Due to this merger, the shares of the Fortisbank have been transferred to Türk Ekonomi Bankası AŞ hence the principle
of equality in partnership between banks has been invalidated. In result, the shares are decided to be distributed equally between banks. The TL 211
which is the amount corresponding to Bank share has been paid in year 2012. Accordingly with the addition of TL 211 the share of the Parent Bank has
increased to TL 4,211 and shareholder ratio increased to 1.75%.
In year 2012, the Bank has paid its capital commitment amounting to TL 1,000 to Kredi Garanti Fonu AŞ, related to funding requirement of the associate.
In year 2012, subsequent to the approval of the decision to increase the paid-in capital of Türkiye Sınai Kalkınma Bankası AŞ, an associate of the Parent
Bank, from TL 800,000 to TL 1,100,000, by the General Assembly of the Company, the share of the Parent Bank amounting to TL 25,132 is presented in
the movement table of investments in associates as bonus shares received.
VAKIFBANK ANNUAL REPORT 2013
271