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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 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
8. Information on income/loss from continuing and discontinued operations
The Group has no discontinued operations. Detailed tables and information on profit before tax from continuing operations are presented in disclosures 1-7 in
this section.
9. Information on tax provision from continuing and discontinued operations
The Group has no discontinued operations. Information on provision for taxes on income from continuing operations is presented in disclosure 11 in this
section.
10. Information on net profit/loss from continuing and discontinued operations
The Group has no discontinued operations. Information on net profit/loss from continuing operations is presented in disclosures 1-12 in this section.
11. Provision for taxes on income
Current year taxation benefit or charge and deferred tax benefit or charge
In the current year, the Group recorded a tax provision of TL 612,250 (31 December 2013: TL 351,394) from the net taxable profit calculated in accordance the
loss and regulations in effects.
Deferred tax charge arising from temporary differences, tax losses and unused tax credits
Sources of deferred tax benefit/charge
Current Period
Prior Period
Arising from Origination/(Reversal) of Deductible Temporary Differences
63,170
(41,652)
Arising from (Origination)/Reversal of Taxable Temporary Differences
71,065
(20,205)
Arising from Origination/(Reversal) of Tax Losses
-
11,120
Arising from Change in Tax Rate
-
-
Total
134,235
(50,737)
12. Net profit and loss
Any further explanation on operating results needed for a proper understanding of the Bank’s performance
Group has earned TL 11,664,524 interest income and TL 674,456 net fee and commission income also incurred TL 6,809,744 amount of interest expense from
its ordinary banking operations (31 December 2013: TL 9,440,435 interest income, TL 629,107 net fee and commission income, TL 4,553,280 interest expense).
Any changes in estimations that might have a material effect on current and subsequent year results
None.
13. Income/loss related to non-controlling interest
Current Period
Prior Period
Income/(losses) related to non-controlling interest
8,166
(24,295)
14. Information related to the components of other items in the income statement exceeding 10% of the group total, or 20% of the sub-accounts
belonging to this group
Other fees and commission income of the Group mainly consist of credit card fees and commissions, receipt and payment commissions, money transfer
commissions, research fees.
Other fees and commission expenses of the Group mainly consist of credit card fees and commissions, commission paid for funds borrowed from foreign banks.