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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
The liquidation process of World Vakıf UBB Ltd, an associate of the Bank, has been carried out by NCTR Collecting and Liquidation Office. The application of the
company for cancellation of the liquidation has been rejected and the decision of liquidation has been agreed on 27 August 2013. Thus, the company’s title has
been changed as “World Vakıf UBB Ltd in Liquidation”.
In the prior period, the capital of İstanbul Takas ve Saklama Bankası, an associate of the Bank, has been increased from TL 60,000 to TL 420,000, TL 180,000 is
paid from its own resources and TL 180,000 is paid in cash amounting to TL 360,000 in total.
Unconsolidated associates, reasons for not consolidating such investments and accounting treatments applied for such investments:
İstanbul Takas ve Saklama Bankası AŞ and Kredi Garanti Fonu AŞ have not been consolidated since their total assets and net operating profit/(loss) individually
or as a whole, do not comprise a material portion within the consolidated totals. Since Bankalararası Kart Merkezi AŞ, Kredi Kayıt Bürosu AŞ, Roketsan Roket
Sanayi ve Ticaret AŞ, Güçbirliği Holding AŞ and İzmir Enternasyonel AŞ are not financial associates; these associates have not been consolidated. These
associates have been accounted for as per TAS-39 in the consolidated financial statements.
Consolidated investments in associates
Title
Address
(City/Country)
Parent Bank’s Share –
If Different, Voting Rights (%)
Bank Risk
Group’s Share (%)
1
Kıbrıs Vakıflar Bankası Ltd.
Lefkosa/NCTR
15.00
15.00
2
Türkiye Sınai Kalkınma Bankası AŞ
(*)
İstanbul/Turkey
8.38
8.38
Total Assets
Equity
Tangible
Assets
Interest
Income
Income on
Securities
Portfolio
Current Year’s
Profit/Loss
Prior Years’
Profit/Loss
Fair
Value
1
822,625
66,941
9,656
62,408
8,036
11,969
758
-
2
16,225,701
2,424,251
292,546
535,988
283,216
374,111
295,154
3,029,090
(*)
Figures are obtained from audited financial statements as at and for the period ended 31 December 2014 disclosed in Public Disclosure Platform.
In the current period, subsequent to the approval of the decision to increase the paid-in capital of Türkiye Sınai Kalkınma Bankası AŞ from TL 1,300,000 to TL
1,500,000 in the Ordinary Meeting of General Assembly of the Company dated 27 March 2014, the share of the Bank amounting to TL 16,755 is presented in
the movement table of investments in associates as bonus shares received.
In the prior period, subsequent to the approval of the decision to increase the paid-in capital of Türkiye Sınai Kalkınma Bankası AŞ, an associate of the Bank,
from TL 1,100,000 to TL 1,300,000, by the General Assembly of the Company, the share of the Bank amounting to TL 16,755 is presented in the movement
table of investments in associates as bonus shares received.
Vakıf Gayrimenkul Yatırım Ortaklığı AŞ and Vakıf Menkul Kıymet Yatırım Ortaklığı AŞ that were accounted as investments in associates in 2012 have been
classified as subsidiary beginning from 1 January 2013 and presented in the transfers in movement table of investments in associates.