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VAKIFBANK
2014 ANNUAL REPORT
281
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 non-performing loans and other receivables in foreign currencies
Group III
Group IV
Group V
Loans and receivables with
limited collectability
Loans and receivables with
doubtful collectability
Uncollectible loans and
receivables
Current Period
Balance at the end of the year
23,332
3,507
360,219
Specific provisions (-)
4,296
3,026
331,347
Net balance on balance sheet
19,036
481
28,872
Prior Period
Balance at the end of the year
33,864
1,980
324,226
Specific provisions (-)
6,773
1,980
321,412
Net balance on balance sheet
27,091
-
2,814
Non-performing loans due to foreign currency denominated loans provided by the Parent Bank or domestic financial subsidiaries are followed in TL accounts,
while non-performing loans provided by subsidiaries in abroad are followed in foreign currency accounts.
Write-off policy for uncollectible loans and receivables
The Group writes off a loan balance (and any related allowances for impairment losses) when it is concluded that those loans are uncollectible. This conclusion
is given after considering information such as the occurrence of significant changes in the borrower/issuer’s financial position such that the borrower/issuer
can no longer pay the obligation, or that proceeds from collateral will not be sufficient to pay back the entire exposure. For smaller balance standardized loans,
charge off decisions generally are based on a product specific past due status.
Loan customer concentration of non-performing loans
Group III
Group IV
Group V
Loans and receivables with
limited collectability
Loans and receivables with
doubtful collectability
Uncollectible loans and
receivables
Current Period (Net)
248,016
32,518
40,123
Consumer and commercial loans (Gross)
305,619
576,523
3,225,510
Specific provisions (-)
60,176
544,005
3,185,387
Consumer and commercial loans (Net)
245,443
32,518
40,123
Banks (Gross)
-
-
6,321
Specific provisions (-)
-
-
6,321
Banks (Net)
-
-
-
Other loans and receivables (Gross)
3,216
6,369
58,407
Specific provisions (-)
643
6,369
58,407
Other loans and receivables (Net)
2,573
-
-
Prior Period (Net)
329,125
1,085
38,802
Consumer and commercial loans (Gross)
409,372
655,123
2,604,871
Specific provisions (-)
82,509
654,038
2,566,069
Consumer and commercial loans (Net)
326,863
1,085
38,802
Banks (Gross)
-
-
7,462
Specific provisions (-)
-
-
7,462
Banks (Net)
-
-
-
Other loans and receivables (Gross)
2,828
6,653
50,156
Specific provisions (-)
566
6,653
50,156
Other loans and receivables (Net)
2,262
-
-