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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
In the current period, Vakıf Menkul Kıymet Yatırım Ortaklığı AŞ has decided to increase the capital of TL 15,000 to TL 20,000 in its registered capital ceiling
amounting to TL 50,000 in accordance with Capital Markets Board’s temprorary clause 1 of “Comminique on Securities Investment Associations” (III-48.2). In
the capital increase, Bank’s nominal share amount has increased from TL 1,763 to TL 2,351 with an increase of TL 588 by using stock rights on 25 November
2014. Besides, in order to finalize the capital increase, Bank has purchased additional shares from stock rights that have not been used in due, amounting
to TL 2,228 from Istanbul Stock Exhange Share Market on 2 December 2014. In this context, Bank’s total nominal share has increased to TL 4,579 and share
proportion has increased to 22.89%. The share of the Bank amounting to TL 2,815 is presented in the acquisitions and capital increases in the movement table
of investments in subsidiaries.
In the current period, related to the capital increase of Vakıf Gayrimenkul Yatırım Ortaklığı AŞ from TL 106,200 to TL 203,320, the Bank has obtained shares
with a nominal value of TL 29,345 at a rate of TL 3.44 by using the stock rights. For these shares TL 100,947 has been paid. Besides, Bank has obtained shares
with a nominal value of TL 20,000 at TL 3.44 rate since the other shareholders did not used their stock rights. Bank has paid TL 68,800 for the shares. As at 4
July 2014, company’s capital increase has been registered and as of the date the existing nominal share of the Bank has been increased from TL 29,345 to TL
78,690 Bank’s share proportion has been increased from 27.63% to 38.70%. The capital increase as of TL 169,747 is presented in the acquisitions and capital
increases in the movement table of investments in subsidiaries.
In the prior period, subsequent to the approval of the decision to increase the paid-in capital of Vakıf Finansal Kiralama AŞ, a subsidiary of the Bank, from TL
60,000 to TL 65,000, by the General Assembly of the company, the share of the Bank amounting to TL 2,936 is presented as bonus shares received in the
movement table of investments in subsidiaries.
In the prior period, subsequent to approval of the decision to increase the paid-in capital of Vakıf Gayrimenkul Yatırım Ortaklığı AŞ, a subsidiary of the Bank,
from TL 105,000 to TL 106,200, by the General Assembly of the company, the share of the Bank amounting to TL 331 is presented as bonus shares received in
movement table of investments in subsidiaries.
In the prior period, subsequent to the approval of the decision to increase the paid-in capital of Vakıf International AG, a subsidiary of the Bank, from EUR
45,000 (in thousands) to EUR 70,000 (in thousands), by the General Assembly of the company, the share of the Bank amounting to TL 51,626 is presented in
acquisitions and capital increases in the movement table of investments in subsidiaries.
Vakıf Gayrimenkul Yatırım Ortaklığı AŞ and Vakıf Menkul Kıymet Yatırım Ortaklığı AŞ that were accounted as investments in associate in 2012 have been
classified as subsidiary beginning from 1 January 2013 and presented in the transfers in movement table of investments in subsidiary.
9. Investments in joint-ventures
There is not any investment in joint-ventures of the Group.
10. Information on finance lease receivables (net)
Finance lease receivables disclosed according to remaining maturities
Current Period
Prior Period
Gross
Net
Gross
Net
Less than 1 year
61,740
59,415
294,378
248,630
Between 1-4 years
693,909
593,778
645,869
567,960
Longer than 4 years
518,153
436,794
88,692
83,633
Total
1,273,802
1,089,987
1,028,939
900,223
Net investments in finance lease receivables
Current Period
Prior Period
Gross finance lease receivables
1,273,802
1,028,939
Unearned income on finance lease receivables (-)
(183,815)
(128,716)
Terminated lease contracts (-)
-
-
Net finance lease receivables
1,089,987
900,223