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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
V. Information and disclosures related to consolidated statement of changes in equity
1. Information on increases of valuation differences of available-for-sale investments
Movement tables related to valuation differences of available-for-sale investments where valuation differences arising from the fair value measurement
of available-for-sale assets, subsidiaries and affiliates are recorded are as follows:
Valuation differences of marketable securities
Current Year
Previous Year
Valuation differences at the beginning of the year
757,401
(71,561)
Fair value changes in the current year
(798,682)
943,955
Effect of deferred and corporate taxes
91,747
(75,054)
Valuation differences transferred to the statement of income
(246,869)
(33,742)
Effect of deferred and corporate taxes
(6,282)
(6,197)
Valuation differences at the end of the year
(202,685)
757,401
Valuation difference of the subsidiaries and affiliates
Current Year
Previous Year
Valuation differences at the beginning of the year
(36,590)
(19,393)
Fair value changes in the current year
90,100
(16,627)
Effect of deferred and corporate taxes
(544)
(570)
Valuation differences transferred to the statement of income
-
-
Effect of deferred and corporate taxes
-
-
Valuation differences at the end of the year
52,966
(36,590)
2. Information on increases in cash flow hedges
None.
3. Reconciliation of the beginning and end of the year balances of foreign exchange differences
As at 31 December 2013, foreign currency translation differences amounting of TL 73,162 (31 December 2012: TL 6,641), arising as a result of
the conversion of the financial statements of the foreign subsidiaries into TL, have benn booked under other reserves in the consolidated financial
statements.
4. Information on differences in equity accounts due to inflation accounting
In compliance with BRSA’s Circular on 28 April 2005 on ceasing the inflation accounting application, the balances resulted from the inflation accounting
application as at 31 December 2004 and booked according to the Uniform Chart of Accounts and the related Articles, are transferred to the main
accounts that were subject to the inflation accounting adjustments except for “capital reserves from inflation adjustments”. The balance of “capital
reserves from inflation adjustments” account is transferred to “other capital reserves” account. In 2006, the Parent Bank has increased its paid in capital
through “other capital reserves” by TL 605,763.
5. Information on profit distribution
As per the resolution of 59th Annual General Assembly held on 29 March 2013, it was decided to distribute the net profit of the year 2012 after the
deduction of deferred tax income amounting to TL 1,436,165 as legal reserves amounting to TL 143,616, dividends to equity holders of the Bank
amouting to TL 100,000, extraordinary reserves amounting to TL 1,189,475 and special funds amounting to TL 3,075.
6. Information on increases of valuation differences of available-for-sale investments
Valuation differences of available-for-sale financial assets has increased in the current year. Detailed information about the increase is explained below
in Note 1.
VAKIFBANK ANNUAL REPORT 2013
295