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VAKIFBANK
2014 ANNUAL REPORT
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.)
7. Information on provisions
Information on general provisions
Current Period
Prior period
Provisions for loans and receivables in Group I
1,326,468
1,004,336
-Additional provision for loans with extended payment plans
26,989
13,327
Provisions for loans and receivables in Group II
175,204
105,037
-Additional provision for loans with extended payment plans
14,696
3,297
Provisions for non-cash loans
93,418
76,647
Others
8,152
4,719
Total
1,603,242
1,190,739
Provision for currency exchange loss on foreign currency indexed loans
Current Period
PriorPeriod
Provision for currency exchange gain/loss on foreign currency indexed loans
12,048
90
The Bank has recorded provision amounting to TL 12,048 (31 December 2013: TL 90) for foreign exchange losses on principal amounts of foreign currency
indexed loans and reflected the related foreign exchange loss amount in the financial statements by offsetting from related loans.
Provisions for non-cash loans that are not indemnified or converted into cash
As of 31 December 2014, Bank has recorded TL 63,030 (31 December 2013: TL 54,771) as provisions for non-cash loans that are not indemnified or converted
into cash.
Information on other provisions
Information on other provisions exceeding 10% of total provisions
Current Period
Prior period
Provisions for credits
105,005
65,960
Specific provisions for non-cash loans
63,030
54,771
Provision for cheques
37,207
26,363
Provisions for lawsuits against the Bank
14,673
14,673
Provisions for credit card promotions
10,177
9,469
Provision for loans under follow-up
-
70,915
Provision for World Vakıf UBB Ltd with regard to its negative equity
-
38,047
Other provisions
722
-
Total
230,814
280,198
8. Taxation
Current taxes
Tax provision
As at and for the year ended 31 December 2014, the tax provision was amounted to TL 600,797 (31 December 2013: TL 254,525). As at 31 December 2014,
corporate tax liabilities of the Bank was amounted to TL 248,173 (31 December 2013: TL 59,926), after deducting prepaid taxes paid during temporary tax
periods amounted to TL 352,624 (31 December 2013: TL 194,599).