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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
8. Information on income/loss from continuing and discontinued operations
The Group has no discontinued operations. Detailed tables and information on profit before tax from continuing operations are presented in disclosures
1-7 in this section.
9. Information on tax provision from continuing and discontinued operations
The Group has no discontinued operations. Information on provision for taxes on income from continuing operations is presented in disclosure 11 in this
section.
10. Information on net profit/loss from continuing and discontinued operations
The Group has no discontinued operations. Information on net profit/loss from continuing operations is presented in disclosures 1-12 in this section.
11. Provision for taxes on income
Current year taxation benefit or charge and deferred tax benefit or charge
In the current year, the Group recorded a tax provision of TL 351,394 (31 December 2012: TL 463,099) from the net taxable profit calculated in
accordance the loss and regulations in effects.
Deferred tax charge arising from temporary differences, tax losses and unused tax credits
Sources of deferred tax benefit/charge
Current Year
Previous Year
Arising from Origination/(Reversal) of Deductible Temporary Differences
(41,652)
5,701
Arising from (Origination)/Reversal of Taxable Temporary Differences
(20,205)
12,987
Arising from Origination/(Reversal) of Tax Losses
11,120
6,450
Arising from Change in Tax Rate
-
-
Total
(50,737)
25,138
12. Net profit and loss
Any further explanation on operating results needed for a proper understanding of the Bank’s performance
Group has earned TL 9,440,435 interest income and TL 629,107 net fee and commission income also incurred TL 4,553,280 amount of interest
expense from its ordinary banking operations (31 December 2012: TL 8,999,981 interest income, TL 4,744,503 interest expense, TL 418,105 net fee and
commission income).
Any changes in estimations that might have a material effect on current and subsequent year results
None.
13. Income/loss related to non-controlling interest
Current Year
Previous Year
Income/(losses) related to non-controlling interest
(24,295)
169
14. Information related to the components of other items in the income statement exceeding 10% of the group total, or 20% of the
sub-accounts belonging to this group
Other fees and commission income of the Group mainly consist of credit card fees and commissions, receipt and payment commissions, money transfer
commissions, research fees and reinsurance commissions received due to insurance business.
Other fees and commission expenses of the Group mainly consist of credit card fees and commissions, commission paid for funds borrowed from
foreign banks and commissions to agent’s due to insurance business.
294