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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
6. Provision expenses for losses on loans and other receivables
Current Period
Prior Period
Specific provisions on loans and other receivables
1,194,633
1,306,590
Loans and receivables in Group III
181,529
281,208
Loans and receivables in Group IV
774,152
969,808
Loans and receivables in Group V
238,952
55,574
Non-performing commissions and other receivables
-
-
General provision expenses
413,501
234,417
Provision for possible losses
-
8,871
Impairment losses on securities
15,573
88,630
Trading securities
5,171
-
Investment securities available-for-sale
10,402
88,630
Other impairment losses
25,278
53,581
Associates
-
-
Subsidiaries
-
-
Joint ventures
-
-
Investment securities held-to-maturity
25,278
53,581
Others
(*)
98,680
120,520
Total
1,747,665
1,812,609
(*)
Other provision expenses amounting to TL 98,680 (31 December 2013: TL 120,520) is comprised of provision for non-cash loans that are not indemnified or converted into cash and
provision for cheques amounting to TL 38,176 (31 December 2013: TL 49,501), other provision expenses related to loans amounting to TL 39,045 (31 December 2013: TL 30,750) and other
provision expenses amounting to TL 21,459 (31 December 2013: TL 40,269).
7. Other operating expenses
Current Period
Prior Period
Personnel costs
1,386,610
1,236,020
Reserve for employee termination benefits
11,070
19,045
Provision for deficit in pension funds
-
-
Impairment losses on tangible assets
-
-
Depreciation expenses on tangible assets
114,988
109,670
Impairment losses on intangible assets
-
-
Amortisation expenses on intangible assets
15,974
13,820
Impairment losses on assets to be disposed
2,115
4,000
Depreciation expenses on assets to be disposed
12,743
10,773
Impairment losses on assets held for sale
-
484
Other operating expenses
1,567,282
1,275,794
Operational lease related expenses
190,247
163,719
Repair and maintenance expenses
33,778
26,286
Advertisement expenses
76,278
98,096
Other expenses
1,266,979
987,693
Loss on sale of assets
4,951
1,106
Others
*
787,872
787,221
Total
3,903,605
3,457,933
(*)
Other operating expenses amounting to TL 787,872 (31 December 2013: TL 787,221) is comprised of provision expenses for dividends to the personnel amounting to TL 129,797 (31
December 2013: TL 118,800), tax, fees and funds expenses amounting to TL 113,797 (31 December 2013: TL 87,311), Saving Deposits Insurance Fund expenses amounting to TL 93,190 (31
December 2013: TL 91,780) and other operating expenses amounting to TL 451,088 (31 December 2013: TL 489,330).