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PART III: FINANCIAL HIGHLIGHTS AND RISK MANAGEMENT
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE IN NOTE I. OF SECTION THREE
TÜRKİYE VAKIFLAR BANKASI TÜRK ANONİM ORTAKLIĞI AND
ITS FINANCIAL SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS AT AND
FOR THE YEAR ENDED 31 DECEMBER 2015
(Amounts expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.)
Exposure to currency risk
10 percent depreciation of the TL against the following currencies as at and for the year ended 31 December 2015 and 2014 would have effect on
consolidated equity and the consolidated statement of income (without tax effects) by the amounts shown in the table below.
This analysis assumes that all other variables, in particular interest rates, remain constant.
31 December 2015
31 December 2014
Profit or loss
Equity
(*)
Profit or loss
Equity
(*)
US Dollar
128,842
128,842
38,327
38,327
Euro
27,552
41,688
(15,206)
21,112
Other currencies
1,211
1,211
326
326
Total, net
(**)
157,605
171,741
23,447
59,765
(*)
Equity effect also includes profit or loss effect of 10% devaluation of TL against related currencies.
(**)
Associates, subsidiaries, joint ventures, tangible and intangible assets are not included to the analysis.
10 percent appreciation of the TL against the following currencies as at and for the year ended 31 December 2015 and 2014 would have effect on
consolidated equity and consolidated statement of income (without tax effects) by the amounts shown in the table below.
31 December 2015
31 December 2014
Profit or loss
Equity
(*)
Profit or loss
Equity
(*)
US Dollar
(127,517)
(127,517)
(36,833)
(36,833)
Euro
(27,552)
(41,688)
15,206
(21,112)
Other currencies
(1,085)
(1,085)
(100)
(100)
Total, net
(**)
(156,154)
(170,290)
(21,727)
(58,045)
(*)
Equity effect also includes profit or loss effect of 10% revaluation of TL against related currencies.
(**)
Associates, subsidiaries, joint ventures, tangible and intangible assets are not included to the analysis.
