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TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND ITS FINANCIAL SUBSIDIARIES
CONSOLIDATED FINANCIAL REPORT AS AT AND
FOR THE YEAR ENDED 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
VAKIFBANK
2014 ANNUAL REPORT
Unconsolidated subsidiaries, reasons for not consolidating such investments and accounting treatments applied for such investments:
Vakıf Enerji ve Madencilik AŞ, Taksim Otelcilik AŞ, Vakıf Pazarlama Sanayi ve Ticaret AŞ and Vakıf Gayrimenkul Değerleme AŞ have not been consolidated
since they are not among the financial subsidiaries of the Bank. Therefore, the subsidiaries whose fair value can be reliably measured are reflected in the
consolidated financial statements at their fair values.
In the current period, at the Extraordinary General Assembly of Taksim Otelcilik AŞ dated 24 June 2014, the decision of increasing the capital from TL 269,257 to
TL 334,257 through rights offering by TL 65,000. The related change has been registered on 22 July 2014. The nominal share of the Bank TL 137,324 has been
increased by cash TL 33,151 to TL 170,474. The share proportion of the Bank is remained the same (51.001%). TL 8,288 of the cash commitment amounting to
TL 33,151 is paid on 15 July 2014, TL 24,863 is paid on 2 October 2014.
In the prior period, subsequent to the approval of the decision to increase the paid-in capital of Taksim Otelcilik AŞ, a subsidiary of the Bank, from TL 97,150 to
TL 269,257, by the Extraordinary General Assembly of the company on 27 August 2013, the share of the Bank is increased from TL 49,547 to TL 137,324 (TL
57,176 from retained earnings and TL 30,601 from cash, in total TL 87,777) and the share proportion of the Bank is remained the same. TL 7,650 is paid on 13
September 2013 and TL 22,950 is paid on 2 December 2013 from TL 30,601 which is Bank’s share of cash capital commitment.
Investments in consolidated subsidiaries
Title
Address
(City/Country)
Bank’s Share –
If Different Voting Rights (%)
Bank’s Risk
Group Share (%)
1
Güneş Sigorta AŞ
(**)
İstanbul/Turkey
36.35
36.35
2
Vakıf Emeklilik AŞ
İstanbul/Turkey
53.90
75.30
3
Vakıf Finans Factoring Hizmetleri AŞ
İstanbul/Turkey
78.39
86.97
4
Vakıf Finansal Kiralama AŞ
(**)
İstanbul/Turkey
58.71
64.40
5
Vakıf Yatırım Menkul Değerler AŞ
İstanbul/Turkey
99.00
99.44
6
Vakıfbank International AG
Vienna/Austria
90.00
90.00
7
Vakıf Portföy Yönetimi AŞ
İstanbul/Turkey
99.99
99.99
8
Vakıf Menkul Kıymet Yatırım Ortaklığı AŞ
(*)
İstanbul/Turkey
22.89
32.91
9
Vakıf Gayrimenkul Yatırım Ortaklığı AŞ
(**)
İstanbul/Turkey
38.70
40.64
Total Assets
Equity Tangible Assets Interest Income
Income on
Securities
Portfolio
Current Year’s
Profit/(Loss)
Prior Year’s
Profit/(Loss)
Fair Value
1
1,360,678
386,504
496,181
24,219
9,524
13,440
(53,692)
290,829
2
3,191,913
188,695
86,928
29,568
500
31,170
31,397
551,118
3
540,580
91,699
109
45,369
-
10,051
(7,247)
83,267
4
1,201,561
104,972
5,103
81,456
5
(3,863)
1,313
76,901
5
362,296
87,777
303
16,245
489
3,830
5,979
79,971
6
2,851,768
388,210
686
72,653
15,675
33,078
16,078
356,805
7
12,920
12,472
284
1,111
22
2,561
2,044
46,944
8
12,946
12,639
42
370
534
(320)
(1,164)
19,574
9
553,866
552,300
168,739
23,776
422
21,855
4,358
575,432
(*)
The financial statements for these subsidiaries as at and for the period ended 30 September 2014 are presented.
(**)
Figures are obtained from financial statements as at and for the period ended 31 December 2014 disclosed in Public Disclosure Platform.