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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
Net investments in finance lease receivables
Current Year
Previous Year
Gross finance lease receivables
1,028,939
776,692
Unearned income on finance lease receivables (-)
(128,716)
(99,773)
Terminated lease contracts (-)
-
-
Net finance lease receivables
900,223
676,919
Finance lease agreements
Sum of the minimum lease payments including interest and principal amounts are stated under the “finance lease receivables” as gross. The difference
between the total of rent payments and the cost of the related fixed assets is reflected to the “unearned income” account. If the lease payments are
made, the lease principal amount is deducted from the “finance lease receivables” as the interest component of the payment is reflected to interest
income on the consolidated statement of income.
11. Information on derivative financial instruments held for risk management purposes
Positive differences on derivative financial instruments held for risk management purposes
None.
12. Information on tangible assets
Real Estates
Leased Tangible
Assets
Vehicles
Other Tangible
Assets
Total
Balance at the end of the prior year:
Cost
1,412,529
155,143
54,049
668,807
2,290,528
Accumulated depreciation(-)
298,776
138,222
32,187
446,252
915,437
Impairment
19,947
-
-
-
19,947
Net book value
1,093,806
16,921
21,862
222,555
1,355,144
Balance at the end of the current year:
Net book value at the beginning of the current year
1,093,806
16,921
21,862
222,555
1,355,144
Additions
263,062
-
351
154,342
417,755
Cost of the disposals
224,259
16,117
1,812
13,442
255,630
Depreciation of the disposals (-)
29,414
15,906
1,585
6,100
53,005
Depreciation of the current year
36,939
5,479
7,026
70,999
120,443
Impairment (-)
(*)
4,000
-
-
-
4,000
Exchange differences related to foreign associates
(801)
-
(6)
(307)
(1,114)
Cost at the end of the current year
1,450,531
139,026
52,582
809,400
2,451,539
Accumulated depreciation at the end of the year (-)
306,301
127,795
37,628
511,151
982,875
Impairment (-)
(*)
23,947
-
-
-
23,947
Net book value at the end of the current year
1,120,283
11,231
14,954
298,249
1,444,717
(*)
In conjunction with the 5th subclause of “Regulation on the procedures and principles for sales and purchase of precious metal and disposal of tangible assets that have been acquired due to
receivables by Banks” of BRSA which has been published in the Official Gazette no. 26333 on 1 November 2006, in case assets that are not subject to amortization are not disposed within three
years following the acquisition date, they shall be amortized through recording provisions at a rate of 5% for each year after the acquisition date. In this frame, the Parent Bank has booked TL
23,947 provision as at 31 December 2013 (31 December 2012: TL 19,947) taking the temporary clause of the regulation defining the acquisition date into account.
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