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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
Information on currency risk
Current Period
Euro
US Dollar
Other FCs
Total Assets:
Cash and balances with the Central Bank of Turkey
1,956,881
11,525,520
4,282,312
17,764,713
Banks
313,372
2,398,210
71,948
2,783,530
Financial assets at fair value through profit or loss
(1)
4,432
34,669
-
39,101
Interbank money market placements
-
-
-
-
Available-for-sale financial assets
1,260,694
2,978,550
-
4,239,244
Loans and receivables
(2)
10,138,487
22,215,257
28,331
32,382,075
Associates, subsidiaries and joint-ventures
3
-
-
3
Held-to-maturity investments
-
92,844
-
92,844
Derivative financial assets held for risk management purpose
-
-
-
-
Tangible assets
630
1,372
-
2,002
Intangible assets
50
111
-
161
Other assets
(3) (4)
601,458
1,036,568
63,821
1,701,847
Total assets
14,276,007
40,283,101
4,446,412
59,005,520
Liabilities:
Bank deposits
514,839
2,770,137
16,518
3,301,494
Foreign currency deposits
11,569,098
12,439,338
948,582
24,957,018
Interbank money market takings
-
6,591,668
-
6,591,668
Funds borrowed
(5)
5,692,578
9,064,674
2,640
14,759,892
Securities issued
1,444,730
6,073,635
-
7,518,365
Miscellaneous payables
220,837
159,250
43,713
423,800
Derivative financial liabilities held for risk management purpose
-
-
-
-
Other liabilities
(1)(4) (6)
46,977
3,083,148
1,608
3,131,733
Total liabilities
19,489,059
40,181,850
1,013,061
60,683,970
Net ‘on balance sheet’ position
(5,213,052)
101,251
3,433,351
(1,678,450)
Net ‘off-balance sheet’ position
5,456,748
346,269
(3,430,091)
2,372,926
Derivative assets
(7)
7,545,021
8,766,209
1,377,221
17,688,451
Derivative liabilities
(7)
2,088,273
8,419,940
4,807,312
15,315,525
Non-cash loans
(8)
2,217,630
9,304,139
260,328
11,782,097
Prior Period
Euro
US Dollar
Other FCs
Total
Total assets
17,020,004
30,974,381
3,884,587
51,878,972
Total liabilities
17,625,568
31,624,925
1,193,432
50,443,925
Net on balance sheet position
(605,564)
(650,544)
2,691,155
1,435,047
Net off-balance sheet position
749,672
778,864
(2,701,033)
(1,172,497)
Derivative assets
(6)
2,031,264
8,258,319
1,437,036
11,726,619
Derivative liabilities
(6)
1,281,592
7,479,455
4,138,069
12,899,116
Non-cash loans
(7)
1,539,590
7,179,775
347,230
9,066,595
(1)
Derivative financial assets amounting to TL 6,468 (31 December 2013: TL 60,278) and liabilities amounting to TL 122,358 (31 December 2013: TL 38,006) resulting from changes in foreign
exchange rates are not included.
(2)
Foreign currency indexed loans amounting to TL 2,750,602 (31 December 2013: TL 2,548,480) presented in TL in the financial statements are included in the above table.
(3)
Foreign currency indexed factoring receivables amounted to TL 65,320 (31 December 2013: TL 9,074) presented in TL column in the accompanying consolidated balance sheet are included.
(4)
Prepaid expenses amounting to TL 60,637 (31 December 2013: TL 33,376) and deferred tax liabilities amounted to TL 7,390 (31 December 2013: None) are not included. Equities amounting
to 553,581 TL (31 December 2013: TL 380,556) are not included.
(5)
Foreign currency indexed funds borrowed amounted to TL 68,860 (31 December 2013: TL 1,914) presented in TL column in the accompanying consolidated balance sheet are included.
(6)
Unearned income amounting to TL 51,232 (31 December 2013: TL 37,464) are not included.
(7)
Asset purchase commitments amounting to TL 1,327,706 (31 December 2013: TL 1,716,683), asset sales commitments amounting to TL 1,312,928 (31 December 2013: TL 1,919,728) and
gold purchase swaps amounting to TL 4,773,860 (31 December 2013: TL 3,961,577) are included.
(8)
Non-cash loans are not taken into consideration in the calculation of the net ‘off-balance sheet’ position.