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CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE IN NOTE I. OF SECTION THREE
VAKIFBANK
2014 ANNUAL REPORT
Notes
Audited Current Period
1 January 2014-31 December 2014
Audited Prior Period
1 January 2013-31 December 2013
I.
INTEREST INCOME
11,664,524
9,440,435
1.1 Interest income from loans
V-IV-1
9,393,240
7,619,741
1.2 Interest income from reserve deposits
2,015
-
1.3 Interest income from banks
V-IV-1
67,307
57,026
1.4 Interest income from money market transactions
931
906
1.5 Interest income from securities portfolio
V-IV-1
2,061,241
1,616,594
1.5.1 Trading financial assets
V-IV-1
11,253
14,909
1.5.2 Financial assets designated at fair value through profit or loss
-
-
1.5.3 Available-for-sale financial assets
V-IV-1
1,489,664
1,198,307
1.5.4 Held-to-maturity investments
V-IV-1
560,324
403,378
1.6 Finance lease income
80,667
64,693
1.7 Other interest income
59,123
81,475
II.
INTEREST EXPENSE
6,809,744
4,533,280
2.1 Interest expense on deposits
V-IV-2
5,043,936
3,543,409
2.2 Interest expense on funds borrowed
V-IV-2
243,009
175,752
2.3 Interest expense on money market transactions
925,913
387,285
2.4 Interest expense on securities issued
V-IV-2
445,715
257,758
2.5 Other interest expenses
151,171
169,076
III.
NET INTEREST INCOME (I – II)
4,854,780
4,907,155
IV.
NET FEES AND COMMISSIONS INCOME
674,456
629,107
4.1 Fees and commissions received
1,109,503
948,375
4.1.1 Non-cash loans
162,970
134,275
4.1.2 Others
946,533
814,100
4.2 Fees and commissions paid
435,047
319,268
4.2.1 Non-cash loans
918
742
4.2.2 Others
434,129
318,526
V.
DIVIDEND INCOME
V-IV-3
12,229
16,429
VI.
TRADING INCOME/LOSSES (Net)
V-IV-4
248,795
257,268
6.1 Trading account income/losses
V-IV-4
176,073
190,307
6.2 Income/losses from derivative financial instruments
V-IV-4
(39,189)
65,904
6.3 Foreign exchange gains/losses
V-IV-4
111,911
1,057
VII.
OTHER OPERATING INCOME
V-IV-5
2,119,791
1,465,262
VIII.
TOTAL OPERATING PROFIT (III+IV+V+VI+VII)
7,910,051
7,275,221
IX.
PROVISION FOR LOSSES ON LOANS AND OTHER RECEIVABLES (-)
V-IV-6
1,747,665
1,812,609
X.
OTHER OPERATING EXPENSES (-)
V-IV-7
3,903,605
3,457,933
XI.
NET OPERATING PROFIT/LOSS (VIII-IX-X)
2,258,781
2,004,679
XII.
INCOME RESULTED FROM MERGERS
-
-
XIII.
INCOME/LOSS FROM INVESTMENTS UNDER EQUITY ACCOUNTING
33,077
25,631
XIV.
GAIN/LOSS ON NET MONETARY POSITION
-
-
XV.
INCOME/LOSS FROM CONTINUING OPERATIONS BEFORE TAXES (XI+XII+XIII+XIV)
V-IV-8
2,291,858
2,030,310
XVI.
CONTINUING OPERATIONS PROVISION FOR TAXES
V-IV-9
(478,015)
(402,131)
16.1 Current tax charges
V-IV-11
(612,250)
(351,394)
16.2 Deferred tax credits
V-IV-11
134,235
(50,737)
XVII.
NET INCOME/LOSS AFTER TAXES FROM CONTINUING OPERATIONS (XV±XVI)
V-IV-12
1,813,843
1,628,179
XVIII. INCOME FROM DISCONTINUED OPERATIONS
-
-
18.1 Income from investment properties
-
-
18.2 Income from sales of subsidiaries, affiliates and joint-ventures
-
-
18.3 Other income from discontinued activities
-
-
XIX.
EXPENSES FROM DISCONTINUED OPERATIONS(-)
-
-
19.1 Investment property expenses
-
-
19.2 Losses from sales of subsidiaries, affiliates and joint ventures
-
-
19.3 Other expenses from discontinued activities
-
-
XX.
INCOME/LOSS FROM DISCONTINUED OPERATIONS BEFORE TAXES(XVIII-XIX)
-
-
XXI.
DISCONTINUED OPERATIONS PROVISION FOR TAXES(±)
-
-
21.1 Current tax charge
-
-
21.2 Deferred tax charge
-
-
XXII.
NET INCOME/LOSS AFTER TAXES FROM DISCONTINUED OPERATIONS(XX±XXI)
-
-
XXIII. NET PROFIT/LOSS (XVI+XXII)
V-IV-12
1,813,843
1,628,179
23.1.
Equity holders of the Bank
1,805,677
1,652,474
23.2.
Non-controlling interest(-)
V-IV-13
8,166
(24,295)
Earnings per 100 Share (full TL)
III-XXIV
0.7255
0.6513
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES
CONSOLIDATED STATEMENT OF INCOME
INCOME FOR THE YEAR ENDED 31 DECEMBER 2014
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
The accompanying notes are an integral part of these consolidated financial statements.