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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.)
6. Provision expenses for losses on loans and other receivables
Current Period
Prior Period
Specific provisions on loans and other receivables
1,085,809
1,194,633
Loans and receivables in Group III
339,638
181,529
Loans and receivables in Group IV
449,252
774,152
Loans and receivables in Group V
296,919
238,952
Non-performing commissions and other receivables
-
-
General provision expenses
354,951
413,501
Provision for possible losses
-
-
Impairment losses on securities
3,459
15,573
Trading securities
16
5,171
Investment securities available-for-sale
3,443
10,402
Impairment losses from associates, subsidiaries, joint ventures and marketable securities held to maturity
24,337
25,278
Associates
-
-
Subsidiaries
-
-
Joint ventures
-
-
Investment securities held-to-maturity
24,337
25,278
Other
(*)
167,304
98,680
Total
1,635,860
1,747,665
(*)
Other provision expenses amounting to TL 167,304 (31 December 2014: TL 98,680) is comprised of provision for non-cash loans that are not indemnified or converted into cash and provision for cheques amounting to TL 41,616 (31
December 2014: TL 38,176), other provision expenses related to loans amounting to TL 82,415 (31 December 2014: TL 39,045) and other provision expenses amounting to TL 43,273 (31 December 2014: TL 21,459).
7. Other operating expenses
Current Period
Prior Period
Personnel costs
1,539,206
1,386,610
Reserve for employee termination benefits
27,419
11,070
Provision for deficit in pension funds
-
-
Impairment losses on tangible assets
6,475
-
Depreciation expenses on tangible assets
133,210
114,988
Impairment losses on intangible assets
-
-
Amortization expenses on intangible assets
20,994
15,974
Impairment losses on assets to be disposed
5,747
2,115
Depreciation expenses on assets to be disposed
15,291
12,743
Impairment losses on assets held for sale
-
-
Other operating expenses
2,046,058
1,567,282
Operational lease related expenses
214,645
190,247
Repair and maintenance expenses
41,636
33,778
Advertisement expenses
82,270
76,278
Other expenses
1,707,507
1,266,979
Loss on sale of assets
1,231
4,951
Other
(*)
1,021,447
787,872
Total
4,817,078
3,903,605
(*)
Other operating expenses amounting to TL 1,021,447 (31 December 2014: TL 787,872) is comprised of provision expenses for dividends to the personnel amounting to TL 144,017 (31 December 2014: TL 129,797), tax, fees and
funds expenses amounting to TL 125,706 (31 December 2014: TL 113,797), Saving Deposits Insurance Fund expenses amounting to TL 115,916 (31 December 2014: TL 93,190) and other operating expenses amounting to TL 635,808
(31 December 2014: TL 451,088).
