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VAKIFBANK
2014 ANNUAL REPORT
283
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
Prior Period
Cost
Carrying Value
TL
FC
TL
FC
Collateralized/blocked investment securities
287,360
42,800
281,131
42,839
Investments subject to repurchase agreements
4,716,595
-
4,831,384
-
Held for structural position
-
-
-
-
Receivable from security borrowing markets
-
-
-
-
Collateral for security borrowing markets
-
-
-
-
Others
(*)
247,800
10,908
246,227
11,590
Total
5,251,755
53,708
5,358,742
54,429
(*)
The securities held as free that are not subject to collateral/blockage or other transactions are presented in the “Others” line.
7. Investments in associates
Unconsolidated investments in associates
Title
Address
(City/Country)
Parent Bank’s Share –
If Different, Voting Rights (%)
Bank Risk
Group’s Share (%)
1
Roketsan Roket Sanayi ve Ticaret AŞ
(*)
Ankara/Turkey
9.93
9.93
2
Bankalararası Kart Merkezi AŞ
İstanbul/Turkey
9.70
9.70
3
Kredi Kayıt Bürosu AŞ
(*)
İstanbul/Turkey
9.09
9.09
4
Güçbirliği Holding AŞ
İzmir/Turkey
0.07
0.07
5
İzmir Enternasyonel Otelcilik AŞ
İstanbul/Turkey
5.00
5.00
6
İstanbul Takas ve Saklama Bankası AŞ
(*)
İstanbul/Turkey
4.37
4.37
7
Kredi Garanti Fonu AŞ
Ankara/Turkey
1.75
1.75
8
World Vakıf UBB Ltd. in Liquidation
Lefkosa/NCTR
82.00
85.24
Total Assets
Equity
Tangible
Assets
Interest
Income
Income on
Securities
Portfolio
Current Year’s
Profit/(Loss)
Prior Year’s
Profit/Loss
Fair
Value
1
2,483,266
497,045
436,151
12,471
-
96,304
30,555
-
2
56,641
25,774
32,679
1,009
-
3,490
2,644
-
3
105,453
88,452
47,272
3,178
-
18,547
28,150
-
4
131,827
(14,638)
88,016
453
-
(8,600)
(5,972)
-
5
103,033
18,507
91,434
11
-
(5,610)
(12,745)
-
6
5,265,146
776,726
20,740
116,803
18,797
96,179
53,588
-
7
289,395
284,079
3,274
14,246
-
10,288
8,436
-
8
1,306
(56,103)
-
-
-
(5,465)
(4,369)
-
(*)
Financial information as at 30 September 2014 has been presented for these associates.
In the current period, subsequent to the approval of the decision of the capital of İstanbul Takas ve Saklama Bankası in the Ordinary Meeting of General
Assembly of the Company dated 28 March 2014, an associate of the Bank, has been increased from TL 420,000 to TL 600,000, TL 120,000 is paid from bonus
shares and TL 60,000 is paid in cash amounting to TL 180,000 in total. The stock right in cash capital commitment has been removed related to the capital
increase, Banks’ share has been decreased from 4.86% to %4.37.
The title of World Vakıf Off Shore Banking Ltd, a subsidiary of the Bank, was changed as World Vakıf UBB. Ltd. on 4 February 2009. Pursuant to the 4 March
2010 dated and 764 numbered decision of Board of Directors of Central Bank of Turkish Republic of Northern Cyprus, the official authorisation of World
Vakıf UBB Ltd., operating in NCTR, is abrogated due to incompliance with the 7th and 9th articles of 41/2008 numbered Law of International Banking Units.
According to 24 May 2010 dated decision of the Nicosia Local Court, World Vakıf UBB Ltd. will be liquidated and NCTR Company Registrar is appointed to carry
out liquidation process. In year 2010, due to loss of control over Company, World Vakıf UBB Ltd. has been reclassified “Investments in associates”.