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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
6. Information on derivative financial liabilities held for risk management purpose
Negative differences related to the derivative financial liabilities held for risk management purpse
None.
7. Information on provisions
Information on general provisions
Current Period
Prior period
Provisions for loans and receivables in Group I
1,004,336
786,341
-Additional provision for loans with extended payment plans
13,327
7,033
Provisions for loans and receivables in Group II
105,037
112,769
-Additional provision for loans with extended payment plans
3,297
9,331
Provisions for non-cash loans
76,647
53,713
Others
4,719
3,236
Total
1,190,739
956,059
Provision for currency exchange gain/loss on foreign currency indexed loans
The Group has recorded provision for foreign exchange losses on principal amounts of foreign currency indexed loans amounting to TL 90 (31 December
2012: 16,623) and has reflected the related foreign exchange loss amount in the consolidated financial statements by offsetting from related loans.
Provisions for non-cash loans that are not indemnified or converted to cash
As of 31 December 2013, the Parent Bank has recorded TL 54,771 (31 December 2012: TL 36,173) as specific provisions for non-cash loans that are not
indemnified or converted into cash.
Information on insurance technical provisions
Current Year
Previous Year
Unearned Premiums Provision
617,339
504,956
Outstanding Losses Provision
602,086
440,985
Mathematical Provision
319,739
317,498
Other
11,214
8,708
Total
1,550,378
1,272,147
Information on other provisions
As at 31 December 2013, the Parent Bank has recorded provision amounting to 5% (31 December 2012: 5%) of loans under follow up. Part of that
amount has been recognized under general provisions and the remaining TL 70,915 (31 December 2012: TL 92,887) has been recognized as provisions
for miscellaneous risks under other provisions in the accompanying financial statements.
Information on other provisions exceeding 10% of total provisions
Current Year
Previous Year
Provision for loans under follow-up
70,915
92,887
Provision for Competition Authority penalty
-
61,630
Specific provisions for non-cash loans
54,771
36,173
Provision for World Vakıf UBB Ltd with regard to its negative equity
38,510
28,639
Provisions for lawsuits against the Group
16,023
16,581
Provisions for credit card promotions
9,469
8,571
Provision for cheques
27,825
8,185
Other provisions
72,608
42,292
Total
290,121
294,958
282