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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
7. Information on provisions
Information on general provisions
Current Period
Prior period
Provisions for loans and receivables in Group I
1,326,468
1,004,336
-Additional provision for loans with extended payment plans
26,989
13,327
Provisions for loans and receivables in Group II
175,204
105,037
-Additional provision for loans with extended payment plans
14,696
3,297
Provisions for non-cash loans
93,418
76,647
Others
8,152
4,719
Total
1,603,242
1,190,739
Provision for currency exchange gain/loss on foreign currency indexed loans
As at 31 December 2014 the Group has recorded provision for foreign exchange losses on principal amounts of foreign currency indexed loans amounting to
TL 12,048 (31 December 2013: TL 90) and has reflected the related foreign exchange loss amount in the consolidated financial statements by offsetting from
related loans.
Provisions for non-cash loans that are not indemnified or converted to cash
As of 31 December 2014, the Bank has recorded TL 63,030 (31 December 2013: TL 54,771) as specific provisions for non-cash loans that are not indemnified or
converted into cash.
Information on insurance technical provisions
Current Period
Prior Period
Unearned Premiums Provision
646,856
617,339
Outstanding Losses Provision
950,292
602,086
Mathematical Provision
44,010
319,739
Other
1,554
11,214
Total
1,642,712
1,550,378
Information on other provisions
Information on other provisions exceeding 10% of total provisions
Current Period
Prior Period
Provisions for credits
105,005
65,960
Provision for loans under follow-up
-
70,915
Specific provisions for non-cash loans
63,030
54,771
Provision for World Vakıf UBB Ltd with regard to its negative equity
-
38,510
Provision for cheques
37,556
27,825
Provisions for lawsuits against the Group
16,142
16,023
Provisions for credit card promotions
10,177
9,469
Other provisions
6,962
6,648
Total
238,872
290,121