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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
Unconsolidated investments in subsidiaries
Company
Address
(City / Country)
Bank’s Share –If Different,
Voting Rights (%)
Bank’s Risk Group
Share (%)
1 Vakıf Enerji ve Madencilik AŞ
(**)
Ankara/ Turkey
65.50
84.92
2 Taksim Otelcilik AŞ
(*)
Istanbul/ Turkey
51.00
51.52
3 Vakıf Pazarlama Sanayi ve Ticaret AŞ
(***)
Istanbul/ Turkey
69.33
74.98
4 Vakıf Gayrimenkul Değerleme AŞ
(*)
Ankara/ Turkey
54.29
58.54
Total
Assets
Equity
Tangible
Assets
Interest
Income
Income on
Securities Portfolio
Current Year’s
Profit/(Loss)
Prior Years’
Profit/(Loss)
Fair
Value
1
15,690
7,329
1,066
179
-
(548)
(130)
12,500
2
243,871
240,645
112,384
5,909
1
4,836
8,439
243,431
3
58,397
46,538
572
2,020
130
2,642
7,871
41,626
4
29,079
23,127
725
1,097
48
5,790
197
33,567
(*)
Financial information as at and for the nine-month period ended 30 September 2013 has been presented for these subsidiaries.
(**)
Financial information as at and for the six-month period ended 30 June 2013 has been presented for these subsidiaries.
(***)
Financial information as at and for the year ended 31 December 2013 has been presented for these subsidiaries.
In the current period, subsequent to the approval of the decision to increase the paid capital of Taksim Otelcilik AŞ, a subsidiary of the Bank, from TL
97,150 to TL 269,257, by the Extraordinary General Assembly of the company on 27 August 2013, the share of the Bank is increased from TL 49,547 to
TL 137,324 (TL 57,176 from retained earnings and TL 30,601 from cash, in total TL 87,777) and the share portion of the Bank is remained the same. TL
7,650 is paid on 13 September 2013 and TL 22,950 is paid on 2 December 2013 from TL 30,601 which is Bank’s share of cash capital commitment. The
share of the Bank amounting to TL 57,176 is presented in the bonus shares received and TL 30,601 is presented in the acquisitions and capital increases
in the movement table of investments in subsidiaries.
Unconsolidated subsidiaries, reasons for not consolidating such investments and accounting treatments applied for such investments:
Vakıf Enerji ve Madencilik AŞ, Taksim Otelcilik AŞ, Vakıf Pazarlama Sanayi ve Ticaret AŞ and Vakıf Gayrimenkul Değerleme AŞ have not been consolidated
since they are not among the financial subsidiaries of the Bank. Therefore, the subsidiaries whose fair value can be reliably measured are reflected in
the consolidated financial statements at their fair values.
Investments in consolidated subsidiaries
Company
Address
(City / Country)
Bank’s Share –If Different
Voting Rights (%)
Bank’s Risk
Group Share (%)
1 Güneş Sigorta AŞ
(**)
İstanbul/Turkey
36.35
36.35
2 Vakıf Emeklilik AŞ
(*)
İstanbul/Turkey
53.90
75.30
3 Vakıf Finans Factoring Hizmetleri AŞ
(*)
İstanbul/Turkey
78.39
86.97
4 Vakıf Finansal Kiralama AŞ
(**)
İstanbul/Turkey
58.71
64.40
5 Vakıf Yatırım Menkul Değerler AŞ
(*)
İstanbul/Turkey
99.00
99.44
6 Vakıfbank International AG
(*)
Vienna/Austria
90.00
90.00
7 Vakıf Portföy Yönetimi AŞ
(*)
İstanbul/Turkey
99.99
99.99
8 Vakıf B Tipi Menkul Kıymetler Yatırım Ortaklığı AŞ
(**)
İstanbul/Turkey
11.75
21.77
9 Vakıf Gayrimenkul Yatırım Ortaklığı AŞ
(**)
İstanbul/Turkey
27.63
29.47
VAKIFBANK ANNUAL REPORT 2013
273