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VAKIFBANK
2014 ANNUAL REPORT
Notes
Audited
Current Period
1 January 2014-
31 December 2014
Audited
Prior Period
1 January 2013-
31 December 2013
I.
INTEREST INCOME
11,373,587
9,220,570
1.1 Interest income from loans
V-IV-1
9,326,415
7,563,941
1.2 Interest income from reserve deposits
2,015
-
1.3 Interest income from banks
V-IV-1
7,006
7,004
1.4 Interest income from money market transactions
380
625
1.5 Interest income from securities portfolio
V-IV-1
2,035,273
1,590,648
1.5.1 Trading financial assets
-
-
1.5.2 Financial assets designated at fair value through profit or loss
-
-
1.5.3 Available-for-sale financial assets
1,475,012
1,187,769
1.5.4 Held-to-maturity investments
560,261
402,879
1.6 Finance lease income
-
-
1.7 Other interest income
2,498
58,352
II.
INTEREST EXPENSE
6,722,109
4,430,953
2.1 Interest expense on deposits
V-IV-2
5,044,633
3,522,651
2.2 Interest expense on funds borrowed
V-IV-2
167,476
134,533
2.3 Interest expense on money market transactions
912,931
375,321
2.4 Interest expense on securities issued
V-IV-2
450,732
260,003
2.5 Other interest expenses
146,337
138,445
III.
NET INTEREST INCOME (I – II)
4,651,478
4,789,617
IV.
NET FEES AND COMMISSIONS INCOME
709,334
686,511
4.1 Fees and commissions received
1,145,329
1,005,406
4.1.1 Non-cash loans
162,814
134,964
4.1.2 Others
982,515
870,442
4.2 Fees and commissions paid
435,995
318,895
4.2.1 Non-cash loans
206
143
4.2.2 Others
435,789
318,752
V.
DIVIDEND INCOME
V-IV-3
66,288
54,001
VI.
TRADING INCOME/LOSSES (Net)
V-IV-4
223,119
231,657
6.1 Trading account income/losses
V-IV-4
174,760
172,623
6.2 Income/losses from derivative financial instruments
V-IV-4
(51,247)
86,442
6.3 Foreign exchange gains/losses
V-IV-4
99,606
(27,408)
VII.
OTHER OPERATING INCOME
V-IV-5
1,345,534
708,320
VIII.
TOTAL OPERATING PROFIT (III+IV+V+VI+VII)
6,995,753
6,470,106
IX.
PROVISION FOR LOSSES ON LOANS AND OTHER RECEIVABLES (-)
V-IV-6
1,671,867
1,729,271
X.
OTHER OPERATING EXPENSES (-)
V-IV-7
3,110,210
2,757,921
XI.
NET OPERATING PROFIT/LOSS (VIII-IX-X)
2,213,676
1,982,914
XII.
INCOME RESULTED FROM MERGERS
-
-
XIII.
INCOME/LOSS FROM INVESTMENTS UNDER EQUITY ACCOUNTING
-
-
XIV.
GAIN/LOSS ON NET MONETARY POSITION
-
-
XV.
INCOME/LOSS FROM CONTINUING OPERATIONS BEFORE TAXES (XI+XII+XIII+XIV)
2,213,676
1,982,914
XVI.
CONTINUING OPERATIONS PROVISION FOR TAXES
V-IV-11
(460,403)
(397,375)
16.1 Current tax charges
(601,519)
(341,481)
16.2 Deferred tax credits
141,116
(55,894)
XVII.
NET INCOME/LOSS AFTER TAXES FROM CONTINUING OPERATIONS (XV-XVI)
V-IV-12
1,753,273
1,585,539
XVIII.
INCOME FROM DISCONTINUED OPERATIONS
-
-
18.1 Income from investment properties
-
-
18.2 Income from sales of subsidiaries, affiliates and joint-ventures
-
-
18.3 Other income from discontinued activities
-
-
XIX.
EXPENSES FROM DISCONTINUED OPERATIONS
-
-
19.1 Investment property expenses
-
-
19.2 Losses from sales of subsidiaries, affiliates and joint ventures
-
-
19.3 Other expenses from discontinued activities
-
-
XX.
INCOME/LOSS FROM DISCONTINUED OPERATIONS BEFORE TAXES
-
-
XXI.
DISCONTINUED OPERATIONS PROVISION FOR TAXES
-
-
21.1 Current tax charge
-
-
21.2 Deferred tax charge
-
-
XXII.
NET INCOME/LOSS AFRET TAXES FROM DISCONTINUED OPERATIONS
-
-
XXIII.
NET PROFIT/LOSS (XVII+XXII)
V-IV-12
1,753,273
1,585,539
Profit/Loss per 100 shares (full TL)
III-XXII
0.7013
0.6342
The accompanying explanations and notes form an integral part of these financial statements.
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONIM ORTAKLIĞI
UNCONSOLIDATED STATEMENT OF INCOME FOR THE YEAR
ENDED AT 31 DECEMBER 2014
(Amounts expressed in thousands of Turkish Lira [“TL”] unless otherwise stated.)
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED INTERIM FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE I. OF SECTION THREE