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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.)
Valuation of consolidated subsidiaries in unconsolidated financial statements
Current Period
Prior Period
Measured at cost
-
-
Measured at fair value
1,350,170
1,187,597
Equity method of accounting
-
-
Total
1,350,170
1,187,597
Sectoral distribution of consolidated investments in financial subsidiaries
Current Period
Prior Period
Insurance companies
480,532
402,769
Banks
434,144
321,124
Factoring companies
62,163
65,273
Leasing companies
45,681
45,149
Financing companies
-
-
Other financial subsidiaries
327,650
353,282
Total
1,350,170
1,187,597
Quoted consolidated subsidiaries
Current Period
Prior Period
Quoted at domestic stock exchanges
330,703
378,037
Quoted at international stock exchanges
-
-
Total
330,703
378,037
Consolidated subsidiaries disposed during the period
There is not any disposal in the consolidated subsidiaries in the current year.
Consolidated investments in subsidiaries acquired during the period
The Parent Bank has not got any subsidiary that are purchased in the current period in the scope of consolidation. In the current period, the title of Vakıf
Finans Factoring Hizmetleri A.Ş. has been changed to Vakıf Faktoring A.Ş., the aforementioned change of title has been registered on 13 April 2015.
In the current period, subsequent to the approval of the decision to increase the paid-in capital of Vakıf Gayrimenkul Yatırım Ortaklığı A.Ş. from TL
203,320 to TL 205,400 by a bonus increase of TL 2,080 in the Ordinary Meeting of General Assembly of the Company dated 31 March 2015. After
the capital increase, Bank’s current nominal share has been increased from TL 78,690 to TL 79,495 by bonus increase of TL 805 and Bank’s share
percentage has been remained the same 38.70%. The share of the Bank amounting to TL 805 is presented as bonus shares received in the movement
table of investments in subsidiaries.
In the current period, in total full TL 12 nominal share of Vakıf Portföy Yönetimi A.Ş. has been purchased by Bank from other real person shareholders
and Bank has signed share transfer contract with real person shareholders on 11 February 2015. Thus, Bank’s nominal share has been increased from
full TL 2,999,988 to full TL 3,000,000. Bank’s share percentage has been increased from 99.99% to 100.00%.
In the prior period, Vakıf Menkul Kıymet Yatırım Ortaklığı A.Ş. 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 temporary clause 1 of “Communique 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 Exchange Share Market on 2 December 2014. In this context, The Parent Bank’s total nominal
share has increased to TL 4,579 and share percentage 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.
