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FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT
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TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES
CONSOLIDATED FINANCIAL REPORT AS AT AND
FOR THE YEAR 31 DECEMBER 2014
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE IN NOTE I. OF SECTION THREE
Current Period
The opening
Balance
Provisions amounts set
aside during the period
The cancelation
of the provisions
Other
Adjustments
(*)
Close out
Balance
Specific ProProProvisions
3,367,453
1,187,948
(693,538)
(555)
3,861,308
General Provisions
1,190,739
412,503
-
-
1,603,242
(*)
Determined according to exchange rate differences, business combinations, acquisitions and disposals of subsidiaries.
Prior Period
The opening
Balance
Provisions amounts set
aside during the period
The cancelation
of the provisions
Other
Adjustments
(*)
Close out
Balance
Specific Provisions
2,509,028
1,306,590
(450,491)
2,326
3,367,453
General Provisions
956,059
234,417
-
263
1,190,739
(*)
Determined according to exchange rate differences, business combinations, acquisitions and disposals of subsidiaries.
Fair value of collateral held against impaired loans
31 December 2014 31 December 2013
Cash collateral
(*)
-
-
Mortgage
1,167,532
942,878
Promissory note
(*)
-
728
Others
(**)
3,014,433
2,792,859
Total
4,181,965
3,736,465
(*)
As a policy, it is aimed to utilize from cash collateral or liquidate promissory note for an impaired loan collateralized by cash collateral or promissory note to cover the credit risk. Hence, cash
collateral and promissory note are shown as zero in the table above.
(**)
Sureties obtained for impaired loans are presented in this raw to the extent that the amount does not exceed the amount of impaired loans.
The detail of collateral held against performing cash and non-cash loans by the Bank
Cash loans
31 December 2014 31 December 2013
Secured Loans:
79,129,908
63,997,120
Secured by mortgages
32,448,892
18,440,959
Secured by cash collateral
685,094
384,250
Guarantees issued by financial institutions
94,207
185,832
Secured by government institutions or government securities
930,621
210,041
Other collateral (pledge on assets, corporate and personal guarantees, promissory notes)
44,971,094
44,776,038
Unsecured Loans
28,505,474
25,339,591
Total performing loans
107,635,382
89,336,711
Non-cash loans
31 December 2014 31 December 2013
Secured Loans:
12,534,623
10,559,371
Secured by mortgages
1,092,714
679,079
Secured by cash collateral
383,649
85,525
Guarantees issued by financial institutions
-
5,700
Other collateral (pledge on assets, corporate and personal guarantees, promissory notes)
11,058,260
9,789,067
Unsecured Loans
16,140,424
12,847,335
Total non-cash loans
28,675,047
23,406,706