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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
In calculation of the counterparty credit risk “Valuation Method on the Basis of Fair Value” is implemented in the scope of “Regulation on Calculation and
Assessment of Capital Adequacy of the Banks”. The counterparty credit risk of the derivatives includes current replacement cost and potential future credit
exposure. Replacement cost is calculated on fair value of the contracts, whilst potential future credit risk exposure is calculated by multiplication of contract
amounts with the credit conversion rates stated in the appendices of the regulation.
Information about counterparty risk
Current Period
(*)
Prior Period
(*)
Contracts based on Interest rate
66,091
22,552
Contracts based on currency
100,177
110,432
Contracts based on commodity
-
-
Contracts based on stocks
-
10
Other
-
-
Gross Positive Fair Value
166,268
132,994
Benefits of clarification
-
-
Clarified current risk amount
-
-
The securities which are held
-
-
The net position of derivatives
166,268
132,994
(*)
Counterparty risk related on held for trading accounts is presented.
IV. CONSOLIDATED OPERATIONAL RISK
The Bank calculated the value at operational risk in accordance with the third section of “Regulation Regarding Measurement and Assessment of Capital
Adequacy Ratios of Banks” that is “Computation of Value of Operational Risk” published in 28 June 2012 dated Official Gazette no. 28337. The operational risk
which the Bank is exposed to is calculated according to the "Basic Indicator Method" hence by multiplying the average of the last three years’ actual gross
income with 12.5, in line with the effective legislation practices in the country.
Current Period
31 December
2011
31 December
2012
31 December
2013
Total/Total number of
years for which gross
income is positive Rate (%)
Total
Gross Income
4,265,465
5,215,105
5,893,893
5,124,821
15
768,723
Amount subject to operational risk (Total*12,5)
9,609,040
Prior Period
31 December
2010
31 December
2011
31 December
2012
Total/Total number of
years for which gross
income is positive Rate (%)
Total
Gross Income
4,371,279
4,917,176
6,009,190
3
15
764,882
Amount subject to operational risk (Total*12,5)
9,561,025