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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.)
Funds borrowed comprise syndication and securitization loans bearing various interest rates and maturities and account for 10.41% (31 December 2013:
9.28%) of the Bank’s liabilities. There is no risk concentration on funding sources of the Bank.
On 12 April 2013, the Bank has obtained syndicated loan at the amount of US Dollar 251,5 million and Euro 555,17 million in total US Dollar 980 million with
the interest rate of Libor/Euribor +1.00% at a maturity of one year with the participation of 38 banks. On 16 April 2014, the loan has been renewed with a
new syndicated loan amounting to US Dollar 270,5 million and Euro 525 million with the interest rate of US Libor +0.90% and Euribor +0.90% at a maturity of
one year, with participation of 35 banks with the coordination of Wells Fargo Bank, N.A., London Branch and Sumitomo Mitsui Banking Corporation, Brussels
Branch acting as agent.
On 20 September 2013, the Bank has obtained syndicated loan at the amount of US Dollar 166 million and Euro 471 million with the interest rate of US Libor
+ 0.75% and Euribor + 0.75% at a maturity of one year, with the participation of 27 banks with the coordination and agency of ING Bank N.V. London. On 22
September 2014, the loan has been renewed with a new syndicated loan amounting to US Dollar 168,5 million and Euro 528,75 million with interest rates of
US Libor + 0.90% and Euribor + 0.9% at a maturity of one year, with the participation of 26 banks, ING Bank, London Branch acting as coordinator and agent
bank.
On 19 December 2014, the Bank has obtained securitization loan at the amount of US Dollar 928,6 million related to foreign transfers and treasury transactions
in Euro and US Dollar. Loan at the amount of US Dollar 500 million has been obtained related to foreign transfers at a maturity of five years and loan at the
amount of US Dollar 428,6 million has been obtained related to treasury transactions at a maturity of seven years in seven different segments in total.
The loan obtained from European Bank for Reconstruction and Development Bank (EBRD) at the amount of US Dollar 125 million in 2014-A segment in order to
finance medium term loans including to meet the needs of agricultural enterprises and support woman entrepreneurs.
2014-B segment of the loan has been obtained from Wells Fargo Bank, N.A., 2014-D segment of the loan has been obtained from Raiffeisen Bank International
AG, 2014-D segment of the loan has been obtained from Standard Chartered Bank, 2014-E segment of the loan has been obtained from Societe Generale,
2014-G segment of the loan has been obitaned from Bank of America, N.A. and 2014-F segment of the loan related to treasury transactions has been obtained
from JP Morgan Securities plc. in the scope of programme.
As at 31 December 2014, total securitization loan amounts to US Dollar 1.397 million.
Information on securities issued
With in the context of Global Medium Term Notes (GMTN), The Bank has issued Turkey’s first Eurobond apart from Undersecretariat of Tresury. The bond has
been issued in the context of GMTN on 17 June 2014 has a nominal value of Euro 500 million, maturity date on 17 June 2019 with fix rate, 5 years maturity
and annually coupon paid with 3.65% return and coupon rate 3.50%.
With in the context of Global Medium Term Notes (GMTN), 106 private placement transaction in total with 12 different banks has been realized since 2013
June. These transactions have been realized in different currencies ( US Dollar, Euro and CHF) at the maturities 3 months, 6 months, 1 year and 2 years. As
at 31 December 2014, US Dollar 2,684 million of private placement has been realized. In the same period, total private placement has been US Dollar 1,026
million. The major part of these transactions has been carried out with Asian investors.
Current period
Prior period
TL
FC
TL
FC
Nominal
2,978,797
7,500,392
2,412,839
4,514,167
Cost
2,860,066
7,462,478
2,309,056
4,487,936
Net Book Value
2,913,190
7,544,567
2,355,180
4,529,646