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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.)
6. Provision expenses for losses on loans and other receivables
Current Period
Prior Period
Specific provisions on loans and other receivables
1,145,465
1,260,000
Loans and receivables in Group III
135,732
256,705
Loans and receivables in Group IV
774,152
963,028
Loans and receivables in Group V
235,581
40,267
Non-performing commissions and other receivables
-
-
General provision expenses
413,501
234,417
Provision for possible losses
-
8,871
Impairment losses on securities:
10,402
88,459
Trading securities
-
-
Investment securities available-for-sale
10,402
88,459
Other impairment losses:
25,278
53,581
Associates
-
-
Subsidiaries
-
-
Joint ventures
-
-
Investment securities held-to-maturity
25,278
53,581
Others
(*)
77,221
83,943
Total
1,671,867
1,729,271
(*)
Other provision expenses amounting to TL 77,221 (31 December 2013: TL 83,943) is comprised of provision for non-cash loans that are not indemnified or converted into cash and provision
for cheques amounting to TL 38,176 (31 December 2013: TL 49,501) and free provision expenses related to loans and receivables amounting to TL 39,045 (31 December 2013: free provision
expenses: TL 30,750 and other provision expenses: TL 3,692).
7. Information on other operating expenses
Current Period
Prior Period
Personnel Costs
1,232,995
1,111,975
Reserve for Employee Termination Benefits
13,266
17,644
Deficit Provision for Pension Funds
-
-
Impairment Losses on Tangible Assets
-
-
Depreciation Expenses on Tangible Assets
111,904
102,658
Impairment Losses on Intangible Assets
-
-
Amortization Expenses on Intangible Assets
13,096
10,886
Impairment Losses on Assets to be Disposed
2,115
4,000
Depreciation Expenses on Assets to be Disposed
12,743
10,773
Impairment Losses on Assets Held for Sale
-
-
Other Operating Expenses
1,201,522
1,064,835
Operational lease expenses
184,266
158,880
Repair and maintenance expenses
29,989
23,016
Advertisement expenses
70,079
88,009
Other expenses
917,188
794,930
Loss on sale of assets
4,947
1,057
Others
517,622
434,093
Total
3,110,210
2,757,921
(*)
Other operating expenses amounting to TL 517,622 (31 December 2013: TL 434,093) is comprised of provision expenses for dividends to the personnel amounting to TL 129,797 (31
December 2013: TL 118,800), tax, fees and funds expenses amounting to TL 105,366 (31 December 2013: TL 87,311), “Saving Deposits Insurance Fund” expenses amounting to TL 93,190 (31
December 2013: TL 91,780) and other operating expenses amounting to TL 189,269 (31 December 2013: TL 136,202).