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FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE I. OF SECTION THREE
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI
UNCONSOLIDATED FINANCIAL REPORT FOR THE
YEAR ENDED AT 31 DECEMBER 2014
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
8. Investments in subsidiaries
Information on financial subsidiaries
Vakıfbank
International
AG
Vakıf Finansal
Kiralama AŞ
Vakıf Yatırım
Menkul
Değerler AŞ
Vakıf Finans
Factoring
Hizm. AŞ
Güneş
Sigorta AŞ
Vakıf
Emeklilik AŞ
Vakıf Portföy
Yönetimi AŞ
Vakıf
Gayrimenkul
Yat. Ort. AŞ
Vakıf Menkul
Kıymet Yat.
Ort. AŞ
Paid in Capital
114,483
65,000
35,000
22,400
150,000
26,500
3,000
203,320
15,000
Share Premium
-
-
-
-
-
-
-
246,731
-
Adjustment to paid-in capital
-
353
137
28,817
1,448
10,424
15
21,973
93
Valuation changes in marketable
securities
13,758
2,577
25,507
-
142,617
515
-
-
-
Profit on sale of associates,
subsidiaries and buildings
-
-
-
-
17,734
(1,201)
-
-
-
Free shares from investment and
associates, subsidiaries and joint
ventures (business partners)
-
-
-
-
59
191
-
-
-
Legal Reserves
7,237
3,890
5,455
4,988
17,179
15,921
872
3,639
395
Extraordinary Reserves
-
36,845
3,788
32,280
18,851
33,816
6,006
54,773
-
Other Profit Reserves
119,600
217
2,345
66
(569)
(96)
17
7
(20)
Profit/Loss
121,094
953
3,645
310 (145,339)
56,433
1,918
14,465
(2,831)
Prior Years’ Profit/Loss
96,215
-
810
(8,962)
(124,742)
41,213
-
-
(2,509)
Current Years’ Profit/Loss
24,879
953
2,835
9,272
(20,597)
15,220
1,918
14,465
(322)
Minority Rights
-
99
-
-
-
-
-
-
-
Total Core Capital
376,172
109,934
75,877
88,861
201,980
142,503
11,828
544,908
12,637
SUPPLEMENTARY CAPITAL
CAPITAL
376,172
109,934
75,877
88,861
201,980
142,503
11,828
544,908
12,637
NET AVAILABLE EQUITY
376,172
109,934
75,877
88,861
201,980
142,503
11,828
544,908
12,637
The financial statements as at and for the period ended 30 September 2014 are presented.
Vakıf Yatırım Menkul Değerler AŞ, a subsidiary of the Bank, calculates capital adequacy in accordance with “Comminique on Capital and Capital Adequacy of Intermediary Firms”
of CMB every 6 month. Güneş Sigorta AŞ ve Vakıf Emeklilik AŞ that operate in insurance business calculate capital adequacy in accordance with “Comminique on Capital Adequacy
Measurement and Assessment for Insurance, Reinsurance and Pension Firms” published by Undersecretariat of Treasury every 6 month. According to the calculations at 31
December 2014, there is no capital requirement for the subsidiaries mentioned.