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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.)
V. INFORMATION AND DISCLOSURES RELATED TO STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
1. Information on increases of revaluation of available-for-sale investments
Movement tables related to revaluation differences of available-for-sale investments where valuation differences arising from the fair value measurement of
available-for-sale assets, subsidiaries and affiliates are recorded are as follows:
Valuation Differences of Marketable Securities
Current Period
Prior Period
Valuation differences at the beginning of the year
(200,664)
738,974
Fair value changes in the current year
576,843
(772,630)
Effect of deferred and corporate taxes
(115,369)
85,605
Valuation differences transferred to the statement of income
210,138
(246,196)
Effect of deferred and corporate taxes
(42,028)
(6,417)
Valuation differences at the end of the year
428,920
(200,664)
Valuation Difference of the Subsidiaries and Affiliates
Current Period
Prior Period
Valuation differences at the beginning of the year
881,990
710,999
Fair value changes in the current year
(99,710)
179,963
Effect of deferred and corporate taxes
5,769
(8,972)
Valuation differences transferred to the statement of income
-
-
Effect of deferred and corporate taxes
-
-
Valuation differences at the end of the year
788,049
881,990
2. Information on increases in cash flow hedges
None.
3. Reconciliation of the beginning and end of the year balances of foreign exchange differences
None.
4. Information on differences in shareholders’ equity accounts due to inflation accounting
In compliance with BRSA’s Circular on 28 April 2005 on ceasing the inflation accounting application, the balances resulted from the inflation accounting
application as at 31 December 2004 and booked according to the Uniform Chart of Accounts and the related Articles, are transferred to the main accounts that
were subject to the inflation accounting adjustments except for “capital reserves from inflation adjustments”. The balance of “capital reserves from inflation
adjustments” account is transferred to “other capital reserves” account. In 2006, the Bank has increased its paid in capital through “other capital reserves” by TL
605,763.
5. Information on profit distribution
As per the resolution of 60th Annual General Assembly held on 28 March 2014, the net profit of the year 2013 which amounts to TL 1,585,539 after deferred
tax income deducted is decided to be distributed as legal reserves amounting to TL 158,556, extraordinary reserves amounting to TL 1,325,482, special funds
amounting to TL 1,501 and dividends to equity holders of the Bank amouting to TL 100,000.
6. Information on decreases of revaluation of available-for-sale investments
Revaluation differences of available-for-sale investments has resulted with decrease in the current year. Detailed information about the decreases is explained
above in Note 1.