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VAKIFBANK
2014 ANNUAL REPORT
267
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
Residual contractual maturities of monetary liabilities
Current period
Carrying
amount
Gross
nominal
outflow Demand
Less than one
month 1-3 months
3 months to
1 year
1-5 years
More than 5
years
Bank deposits
4,750,416 4,753,361
66,930 4,209,000
453,419
24,012
-
-
Other deposits
88,652,197 89,212,248 16,987,878 44,972,317 19,393,564 7,074,231
762,575
21,683
Funds borrowed
16,260,655 17,263,830
-
1,511,280 1,092,397 6,771,654 3,519,833 4,368,666
Money market takings
16,655,241 16,667,205
-
15,854,923
253,874
351,133
-
207,275
Securities issued
10,384,708 11,236,567
-
713,864 2,166,332 2,401,993 5,954,378
-
Miscellaneous payables
3,344,419 3,344,419
559,496 2,728,303
56,620
-
-
-
Other liabilities
3,614,846 4,564,538
909,478
398,121
38,123
15,223
43,890 3,159,703
Total
143,662,482 147,042,168 18,523,782 70,387,808 23,454,329 16,638,246 10,280,676 7,757,327
Non-Cash Loans
28,675,047 28,675,047
243,079
835,912 16,443,803 6,930,286 3,538,426
683,541
Prior period
Carrying
amount
Gross
nominal
outflow Demand
Less than one
month 1-3 months
3 months to
1 year
1-5 years
More than 5
years
Bank deposits
4,103,952 4,114,689
25,538 3,107,386
876,802
104,963
-
-
Other deposits
78,935,447 79,485,635 13,879,873 38,895,639 19,480,650 6,216,492
981,498
31,483
Funds borrowed
12,285,661 12,992,694
-
362,195
822,749 6,412,167 2,591,033 2,804,550
Money market takings
14,775,388 14,801,868
-
12,726,351
237,537 1,011,566
826,414
-
Securities issued
6,820,735 7,572,794
-
400,920 1,436,319 1,775,217 3,960,338
-
Miscellaneous payables
2,841,068 2,841,068
282,397 2,408,857
115,277
33,169
1,368
-
Other liabilities
3,401,687 4,391,985
992,300
295,469
15,496
147,863
516,347 2,424,510
Total
123,163,938 126,200,733 15,180,108 58,196,817 22,984,830 15,701,437 8,876,998 5,260,543
Non-Cash Loans
23,406,706 23,406,706
264,268
370,339 13,670,929 5,657,505 2,788,347
655,318
This table shows the undiscounted cash flows on the Group’s financial liabilities on the basis of their earliest possible contractual maturities. Therefore, the
gross nominal outflows in the table above vary from the carrying amounts of the relevant financial liabilities reflected in the consolidated financial statements.
Securitisation Positions
None.
Credit risk mitigation techniques
“Basic Financial Guarantee” method is used for the financial guarantees in accordance with “Communique on Credit Risk Mitigation”. Cash or cash equivalent,
treasury bill, government bond and guarantees are used in credit risk mitigation.
Applications on guarantees’ valuation and method
Policies on the valuation of financial guarantees and their evaluation and valuation of immovables that are received as mortgage for loans have been formed.
These policies and procedures are prepared in accordance with “Communique on Credit Risk Mitigation” and include minimum conditions regarding guarantee
valuation and management.
Types of main guarantees received
Main types of the guarantees that Bank receives for loans provided are mortgages, guarantees/sureties and financial guarantees.
Main guarantors, credit derivatives’ counterparties and their credit worthiness
Assessment of credit worthiness of main guarantors is determined and monitored in accordance with the lending and intelligence procedures of the Bank.