Professional Documents
Culture Documents
Conclusion
Based on our review nothing has come to our attention that causes us to believe that the accompanying
unconsolidated financial statements do not give a true view of the financial position of Trkiye Vakflar
Bankas Trk Anonim Ortakl at 31 March 2015 and of the results of its operations and its cash flows
for the three-month-period then ended in all aspects in accordance with the Regulation on
Accounting Applications for Banks and Safeguarding of Documents published in the Official Gazette
no.26333 dated 1 November 2006, and other regulations on accounting records of Banks published by
Banking Regulation and Supervision Agency and circulars and interpretations published by Banking
Regulation and Supervision Authority, (together referred as BRSA Accounting and Reporting
Legislation) and Turkish Accounting Standard 34 Interim Financial Reporting other than subjects
regulated by BRSA Accounting and Reporting Legislation.
Additional Paragraph for Convenience Translation:
The effects of differences between accounting principles and standards explained in detail in Section
Three and accounting principles generally accepted in countries in which the accompanying
unconsolidated financial statements are to be distributed and International Financial Reporting
Standards (IFRS) have not been quantified in the accompanying unconsolidated financial
statements. Accordingly, the accompanying unconsolidated financial statements are not intended to
present the financial position, results of operations and changes in financial position and cash flows in
accordance with the accounting principles generally accepted in such countries and IFRS.
Baaran Nas Bamsz Denetim ve
Serbest Muhasebeci Mali Mavirlik A..
a member of
PricewaterhouseCoopers
Telephone
Fax
Electronic web site
Electronic mail address
:
:
:
:
The unconsolidated interim financial report as at and for the three-month period ended 31 March 2015, prepared in
accordance with the communiqu of Financial Statements and Related Disclosures and Footnotes to be Announced
to Public by Banks as regulated by Banking Regulation and Supervision Agency, is comprised of the following
sections:
The unconsolidated interim financial statements and related disclosures and footnotes that were subject to limited
review, are prepared in accordance with the Regulation on Accounting Applications for Banks and Safeguarding of
Documents, Turkish Accounting Standards, Turkish Financial Reporting Standards and the related statements and
guidance and in compliance with the financial records of our Bank. Unless otherwise stated, the accompanying
unconsolidated interim financial report is presented in thousands of Turkish Lira (TL), and has been subjected to
limited review.
7 May 2015
Ramazan GNDZ
Chairman of the Board of
Directors
Sabahattin BRDAL
Board member and
Audit Committee Member
Halil AYDOAN
General Manager and
Board Member
Murat KOYGUN
Director of Accounting and
Financial Affairs
I.
II.
III.
IV.
V.
VI.
I.
II.
III.
VI.
V.
VI.
VII.
I.
II.
III.
IV.
V.
VI.
VII.
VIII.
IX.
X.
XI.
XII.
XIII.
XIV.
XV.
XVI.
XVII.
XVIII.
XIX.
XX.
XXI.
XXII.
I.
II.
III.
IV.
V.
VI.
VII.
I.
II.
III.
IV.
V.
I.
II.
III.
I.
SECTION ONE
General Information
History of the Bank including its incorporation date, initial legal status, amendments to legal status
The Banks shareholder structure, management and internal audit, direct and indirect shareholders, change in shareholder structure
during the period and information on Banks risk group
Information on the chairman and members of the board of directors, audit committee members, general manager, assistant general
managers and their shares in the Bank
Information on the Banks qualified shareholders
Information about the services and nature of activities of the Bank
Current or likely actual or legal barriers to immediate transfer of equity or repayment of debts between Bank and its subsidiaries
SECTION TWO
Unconsolidated Interim Financial Statements
Balance sheet Assets
Balance sheet - Liabilities and equity
Off-balance sheet items
Statement of income
Statement of gains and losses recognized in equity
Statement of changes in equity
Statement of cash flows
SECTION THREE
Accounting Policies
Basis of presentation
Strategy for the use of financial instruments and information on foreign currency transactions
Information on forwards, options and other derivative transactions
Information on interest income and expenses
Information on fees and commissions
Information on financial assets
Information on impairment of financial assets
Information on offsetting of financial instruments
Information on sales and repurchase agreements and securities lending
Information on assets held for sale and discontinued operations
Information on goodwill and other intangible assets
Information on tangible assets
Information on leasing activities
Information on provisions and contingent liabilities
Information on obligations of the Bank concerning employee rights
Information on taxation
Additional information on borrowings
Information on issuance of equity securities
Information on confirmed bills of exchange and acceptances
Information on government incentives
Information on segment reporting
Other matters
SECTION FOUR
Information Related To Financial Position of the Bank
Capital adequacy ratio
Market risk
Operational risk
Foreign currency exchange risk
Interest rate risk
Liquidity risk
Segment reporting
SECTION FIVE
Disclosures and Footnotes on Unconsolidated Interim Financial Statements
Information and disclosures related to assets
Information and disclosures related to liabilities
Information and disclosures related to off-balance sheet items
Information and disclosures related to statement of income
Information and disclosures related to the Banks risk group
SECTION SIX
Other Disclosures and Footnotes
Other disclosures on the Banks activity
Information on the Banks ratings given by international credit rating institutions
Significant events and matters subsequent to balance sheet date that are not resulted
SECTION SEVEN
Independent Auditors Review Report
Information on Independent Auditors Review Report
Page:
1
1
2-3
3
3
3
4
5
6
7
8
9
10
11
11-12
12
13
13
13-14
14
15
15
15
15
16
16
17
17-18
19
20
20
20
20
20
20
21-28
29
29
30-32
33-37
37-40
40-42
43-59
60-69
70-72
72-77
78-79
80
80
81
81
SECTION ONE
GENERAL INFORMATION
I.
II.
Shareholders
Registered foundations represented by the General
Directorate of the Foundations (Group A)
Vakfbank Memur ve Hizmetlileri Emekli ve
Salk Yardm Sand Vakf (Group C)
Registered foundations represented by the General
Directorate of the Foundations (Group B)
Other appendant foundations (Group B)
Other registered foundations (Group B)
Other real persons and legal entities (Group C)
Publicly traded (Group D)
Total
31 March 2015
Nominal
Value
of the
Number of
Shares
Share
Shares (100 Thousands Percentage
unit)
of TL
(%)
31 December 2014
Nominal
Value
of the
Number of
Shares
Shares (100 Thousands
Share
unit)
of TL Percentage (%)
1,075,058,640
1,075,058
43.00
1,075,058,640
1,075,058
43.00
402,552,666
402,553
16.10
402,552,666
402,553
16.10
386,224,784
3,095,383
1,453,085
1,532,753
630,082,689
386,225
3,095
1,453
1,533
630,083
15.45
0.13
0.06
0.06
25.20
386,224,784
3,096,742
1,453,085
1,533,786
630,080,297
386,225
3,097
1,453
1,534
630,080
15.45
0.13
0.06
0.06
25.20
2,500,000,000
2,500,000
100.00
2,500,000,000
2,500,000
100.00
Date of
Appointment
Education
Experience in
Banking and
Management
29 March 2013
29 March 2013
29 March 2013
6 April 2009
28 April 2009
28 October 2010
31 March 2014
30 April 2014
30 April 2014
University
University
University
University
University
PHD
University
University
University
37 years
32 years
38 years
17 years
42 years
27 years
38 years
40 years
33 years
Member
Member
4 April 2014
4 April 2014
University
University
32 years
38 years
Auditor
Auditor
19 March 2010
19 March 2010
University
Master
38 years
18 years
13 June 2006
PHD
19 years
18 June 2010
PHD
21 years
2 July 2010
18 August 2010
PHD
Master
19 years
18 years
6 April 2011
University
24 years
23 October 2013
University
19 years
28 October 2013
University
21 years
8 November 2013
University
25 years
Responsibility
Chairman
Deputy Chairman
Member General Manager
Member
Member
Member
Member
Member
Member
IV.
Shareholders
Registered foundations represented by the General
Directorate of the Foundations (Group A)
Vakfbank Memur ve Hizmetlileri Emekli ve Salk
Yardm Sand Vakf (Group C)
Registered foundations represented by the General
Directorate of the Foundations (Group B)
Nominal Value
Share
of Shares Percentage
Paid
Shares
(Nominal)
Unpaid
Shares
1,075,058
43.00
1,075,058
402,553
16.10
402,553
386,225
15.45
386,225
The shareholder holding control over the Bank is the General Directorate of the Foundations and
Appendant foundations represented by the General Directorate of the Foundations having 58.45% of
the Banks outstanding shares. Another organization holding qualified share in the Bank is Vakfbank
Memur ve Hizmetlileri Emekli ve Salk Yardm Sand Vakf, having 16.10% of outstanding shares
of the Bank.
V.
As at 31 March 2015, the Bank has 897 domestic, 3 foreign, in total 900 branches (31 December
2014: 890 domestic, 3 foreign, in total 893 branches). As at 31 March 2015, the Bank has 15,044
employees (31 December 2014: 14,920 employees).
VI.
I.
II.
2.1
2.1.1
2.1.2
2.1.3
2.1.4
2.2
2.2.1
2.2.2
2.2.3
2.2.4
III.
IV.
4.1
4.2
4.3
V.
5.1
5.2
5.3
VI.
6.1
6.1.1
6.1.2
6.1.3
6.2
6.3
VII.
VIII.
8.1
8.2
IX.
9.1
9.2
9.2.1
9.2.2
X.
10.1
10.2
XI.
11.1
11.2
11.2.1
11.2.2
XII.
12.1
12.2
12.3
12.4
XIII.
13.1
13.2
13.3
XIV.
XV.
15.1
15.2
XVI.
XVII.
17.1
17.2
XVIII.
18.1
18.2
XIX.
Audited
Prior Period
31 December 2014
ASSETS
Notes
TL
FC
Total
TL
FC
Total
V-I-1
2,131,748
19,047,224
21,178,972
4,126,328
17,758,651
21,884,979
V-I-2
499,610
499,610
499,610
119,490
13,185,487
15
13,185,472
80,587,373
80,230,364
59,208
80,171,156
4,170,332
3,813,323
6,767,024
6,767,024
304,835
304,835
293,435
11,400
1,079,493
837,207
242,286
-
83,422
583,032
83,422
583,032
83,422
583,032
4,078,726
4,198,216
3,745,788 16,931,275
15
3,745,788 16,931,260
32,258,226 112,845,599
32,258,226 112,488,590
50,186
109,394
32,208,040 112,379,196
4,170,332
3,813,323
104,049
6,871,073
6,767,024
104,049
104,049
304,835
304,835
293,435
11,400
321,124
1,400,617
321,124
1,158,331
242,286
-
343,094
343,094
342,475
619
14,733
12,629,821
15
12,629,806
76,682,669
76,442,594
57,996
76,384,598
3,974,372
3,734,297
6,761,749
6,761,749
305,469
305,469
294,069
11,400
1,110,389
866,473
243,916
-
V-I-2
V-I-3
V-I-4
V-I-5
V-V-1
V-I-6
V-I-7
V-I-8
V-I-9
V-I-10
V-I-11
V-I-12
V-I-13
V-I-14
V-I-15
TOTAL ASSETS
37,101
380,195
37,101
380,195
37,101
379,576
619
2,555,887
2,570,620
3,693,476 16,323,297
15
3,693,476 16,323,282
27,900,848 104,583,517
27,900,848 104,343,442
22,347
80,343
27,878,501 104,263,099
3,974,372
3,734,297
92,844
6,854,593
6,761,749
92,844
92,844
305,469
305,469
294,069
11,400
321,124
1,431,513
321,124
1,187,597
243,916
-
702,381
152,209
152,209
50,447
50,447
1,350
125
125
-
703,731
152,334
152,334
50,447
50,447
707,628
140,639
140,639
72,437
72,437
1,372
111
111
-
709,000
140,750
140,750
72,437
72,437
780,089
780,089
1,518,102
843,630
780,089
780,089
2,361,732
745,883
745,883
1,556,242
659,231
745,883
745,883
2,215,473
107,878,288
53,020,645 158,217,726
The accompanying explanations and notes form an integral part of these financial statements.
4
Notes
TL
FC
Total
TL
FC
Total
70,409,319
1,370,395
69,038,924
29,250,902
184,930
29,065,972
99,660,221
1,555,325
98,104,896
65,703,337
1,511,586
64,191,751
26,053,631
216,777
25,836,854
91,756,968
1,728,363
90,028,605
101,968
670,888
8,500,472
8,500,472
2,682,883
2,682,883
5,470
5,470
3,045,383
441,847
-
189,269
14,496,849
7,178,373
7,178,373
8,221,395
8,221,395
339,209
1,398,970
-
291,237
15,167,737
15,678,845
15,678,845
10,904,278
2,682,883
8,221,395
5,470
5,470
3,384,592
1,840,817
-
54,233
887,938
9,793,634
200,000
9,593,634
2,913,190
2,913,190
20,089
20,089
2,937,216
517,101
-
196,019
14,039,110
6,591,668
6,591,668
7,544,567
7,544,567
223,199
938,558
-
250,252
14,927,048
16,385,302
200,000
16,185,302
10,457,757
2,913,190
7,544,567
20,089
20,089
3,160,415
1,455,659
-
2,457,518
1,742,830
506,745
207,943
295,823
295,823
-
13,503
13,503
2,400
2,400
-
2,471,021
1,756,333
506,745
207,943
298,223
298,223
-
2,424,177
1,591,002
603,083
230,092
456,288
456,288
-
12,962
12,240
722
1,029
1,029
-
2,437,139
1,603,242
603,083
230,814
457,317
457,317
-
14,531,925
2,500,000
1,663,300
723,918
642,517
281,759
69,222
-
3,740,657
386,929
386,929
386,929
-
3,740,657
14,918,854
2,500,000
2,050,229
723,918
1,029,446
281,759
69,222
-
14,396,856
2,500,000
1,680,852
723,918
842,075
45,637
69,222
-
2,138,030
374,894
374,894
374,894
-
2,138,030
14,771,750
2,500,000
2,055,746
723,918
1,216,969
45,637
69,222
-
(54,116)
9,933,998
1,174,010
8,329,529
430,459
434,627
434,627
(54,116)
9,933,998
1,174,010
8,329,529
430,459
434,627
434,627
8,462,731
1,012,796
7,214,708
235,227
1,753,273
1,753,273
8,462,731
1,012,796
7,214,708
235,227
1,753,273
1,753,273
103,143,496
65,218,456
168,361,952
100,104,059
58,113,667
158,217,726
DEPOSITS
V-II-1
Deposits of the risk group
V-V-1
Other deposits
DERIVATIVE FINANCIAL LIABILITIES HELD FOR
TRADING PURPOSE
V-II-2
FUNDS BORROWED
V-II-3
INTERBANK MONEY MARKET
Interbank money market takings
Istanbul Stock Exchange money market takings
Obligations under repurchase agreements
SECURITIES ISSUED (Net)
V-II-3
Bills
Asset backed securities
Bonds
FUNDS
Funds against borrowers note
Others
MISCELLANEOUS PAYABLES
OTHER EXTERNAL RESOURCES PAYABLE
V-II-4
FACTORING PAYABLES
LEASE PAYABLES
V-II-5
Finance lease payables
Operational lease payables
Others
Deferred finance leasing expenses ( - )
DERIVATIVE FINANCIAL LIABILITIES HELD FOR
RISK MANAGEMENT PURPOSE
V-II-6
Fair value hedges
Cash flow hedges
Hedges of net investment in foreign operations
PROVISIONS
V-II-7
General provisions
V-II-7
Restructuring reserves
Reserve for employee benefits
Insurance technical provisions (Net)
Other provisions
V-II-7
TAX LIABILITIES
V-II-8
Current tax liabilities
Deferred tax liabilities
V-I-13
PAYABLES FOR ASSETS HELD FOR SALE AND ASSETS
RELATED TO DISCONTINUED OPERATIONS
V-II-9
Payables related to the assets held for sale
Payables related to the discontinued operations
SUBORDINATED LOANS
V-II-10
EQUITY
Paid-in capital
V-II-11
Capital reserves
Share premium
Share cancellation profits
Valuation differences of the marketable securities
V-II-11
Revaluation surplus on tangible assets
Revaluation surplus on intangible assets
Revaluation surplus on investment properties
Bonus shares of associates, subsidiaries and joint-ventures
Hedging reserves (effective portion)
Revaluation surplus on assets held for sale and assets related to
the discontinued operations
Other capital reserves
Profit reserves
Legal reserves
Status reserves
Extraordinary reserves
Other profit reserves
Profit or loss
Prior years profit/loss
Current periods profit/loss
TOTAL LIABILITIES AND EQUITY
Audited
Prior Period
31 December 2014
The accompanying explanations and notes form an integral part of these financial statements.
5
V-III-2-4
V-III-1
V-III-1
V-III-1
V-III-1
Audited
Prior Period
31 December 2014
TL
FC
Total
TL
FC
Total
47,423,883
18,320,133
18,297,652
2,176,768
973,753
15,147,131
22,481
2,190
20,291
20,536,395
19,003,593
269,335
8,403,506
1,674,715
8,363,269
268,575
24,193
1,532,802
1,532,802
8,567,355
8,567,355
339,330
169,941
169,389
7,842,235
2,958,409
4,283,826
300,000
300,000
320,852
160,426
160,426
64,938
768,089,339
63,823,785
53,312,049
8,575,373
1,272,239
2,152
309
661,663
210,408,586
389,965
1,000,164
26,546,020
170,532,994
11,020,430
919,013
493,856,968
48,585,057
11,618,340
4,623,941
2,154,102
2,469,839
1,793,628
86,602
1,707,026
5,190,965
5,190,965
2,068
7,431
307
5,799,508
346,160
346,160
5,453,348
5,453,348
31,167,209
31,167,209
452,083
226,112
225,971
24,277,863
10,550,127
4,981,860
4,372,938
4,372,938
578,608
289,304
289,304
5,858,655
339,205,519
2,599,895
25,290
96,322
1,800,491
246,099
104
55,811
375,778
65,758,444
15,165
392,386
621,342
52,879,839
11,694,335
155,377
270,847,180
96,008,940
29,938,473
22,921,593
4,330,870
973,753
17,616,970
1,816,109
88,792
1,727,317
5,190,965
5,190,965
2,068
7,431
307
26,335,903
19,349,753
615,495
8,403,506
1,674,715
8,363,269
268,575
24,193
6,986,150
6,986,150
39,734,564
39,734,564
791,413
396,053
395,360
32,120,098
13,508,536
9,265,686
4,672,938
4,672,938
899,460
449,730
449,730
5,923,593
1,107,294,858
66,423,680
25,290
53,408,371
10,375,864
1,518,338
2,256
56,120
1,037,441
276,167,030
405,130
1,392,550
27,167,362
223,412,833
22,714,765
1,074,390
764,704,148
42,543,635
16,863,185
16,842,349
1,869,107
913,389
14,059,853
20,836
2,190
18,646
19,162,556
17,652,664
46,228
8,053,342
1,638,976
7,641,987
247,938
24,193
1,509,892
1,509,892
6,517,894
6,517,894
242,929
121,619
121,310
5,631,655
1,659,308
3,772,347
100,000
100,000
385,290
192,645
192,645
258,020
706,821,902
58,297,898
48,295,375
8,300,087
1,129,279
2,152
309
570,696
180,351,054
241,614
943,912
25,696,626
142,283,678
10,332,202
853,022
468,172,950
48,918,083
11,770,738
4,610,122
2,266,261
2,343,861
1,943,257
78,990
1,864,267
5,212,911
5,212,911
1,845
2,603
7,458,391
2,640,634
2,640,634
4,817,757
4,817,757
29,688,954
29,688,954
312,275
156,202
156,073
22,183,274
10,977,077
3,927,959
3,639,119
3,639,119
671,258
335,629
335,629
6,522,147
298,845,575
2,105,489
22,567
94,082
1,452,398
182,687
93
6,818
77,724
269,120
59,408,743
18,614
232,965
590,812
47,319,679
11,114,594
132,079
237,331,343
91,461,718
28,633,923
21,452,471
4,135,368
913,389
16,403,714
1,964,093
81,180
1,882,913
5,212,911
5,212,911
1,845
2,603
26,620,947
20,293,298
2,686,862
8,053,342
1,638,976
7,641,987
247,938
24,193
6,327,649
6,327,649
36,206,848
36,206,848
555,204
277,821
277,383
27,814,929
12,636,385
7,700,306
3,739,119
3,739,119
1,056,548
528,274
528,274
6,780,167
1,005,667,477
60,403,387
22,567
48,389,457
9,752,485
1,311,966
2,245
6,818
78,033
839,816
239,759,797
260,228
1,176,877
26,287,438
189,603,357
21,446,796
985,101
705,504,293
815,513,222
387,790,576
1,203,303,798
749,365,537
347,763,658
1,097,129,195
The accompanying explanations and notes form an integral part of these financial statements.
6
Notes
I.
1.1
1.2
1.3
1.4
1.5
1.5.1
1.5.2
1.5.3
1.5.4
1.6
1.7
II.
2.1
2.2
2.3
2.4
2.5
III.
IV.
4.1
4.1.1
4.1.2
4.2
4.2.1
4.2.2
V.
VI.
6.1
6.2
6.3
VII.
VIII.
IX.
X.
XI.
XII.
XIII.
XIV.
XV.
XVI.
16.1
16.2
XVII.
XVIII.
18.1
18.2
18.3
XIX.
19.1
19.2
19.3
XX.
XXI.
21.1
21.2
XXII.
INTEREST INCOME
Interest income from loans
Interest income from reserve deposits
Interest income from banks
Interest income from money market transactions
Interest income from securities portfolio
Trading financial assets
Financial assets designated at fair value through profit or loss
Available-for-sale financial assets
Held-to-maturity investments
Finance lease income
Other interest income
INTEREST EXPENSE
Interest expense on deposits
Interest expense on funds borrowed
Interest expense on money market transactions
Interest expense on securities issued
Other interest expenses
NET INTEREST INCOME (I II)
NET FEES AND COMMISSIONS INCOME
Fees and commissions received
Non-cash loans
Others
Fees and commissions paid
Non-cash loans
Others
DIVIDEND INCOME
TRADING INCOME/LOSSES (Net)
Trading account income/losses
Income/losses from derivative financial instruments
Foreign exchange gains/losses
OTHER OPERATING INCOME
TOTAL OPERATING PROFIT (III+IV+V+VI+VII)
PROVISION FOR LOSSES ON LOANS AND OTHER RECEIVABLES (-)
OTHER OPERATING EXPENSES (-)
NET OPERATING PROFIT/LOSS (VIII-IX-X)
INCOME RESULTED FROM MERGERS
INCOME/LOSS FROM INVESTMENTS UNDER EQUITY ACCOUNTING
GAIN/LOSS ON NET MONETARY POSITION
INCOME/LOSS FROM CONTINUING OPERATIONS BEFORE TAXES (XI+XII+XIII+XIV)
CONTINUING OPERATIONS PROVISION FOR TAXES
Current tax charges
Deferred tax credits
NET INCOME/LOSS AFTER TAXES FROM CONTINUING OPERATIONS (XV-XVI)
INCOME FROM DISCONTINUED OPERATIONS
Income from investment properties
Income from sales of subsidiaries, affiliates and joint-ventures
Other income from discontinued activities
EXPENSES FROM DISCONTINUED OPERATIONS
Investment property expenses
Losses from sales of subsidiaries, affiliates and joint ventures
Other expenses from discontinued activities
INCOME/LOSS FROM DISCONTINUED OPERATIONS BEFORE TAXES
DISCONTINUED OPERATIONS PROVISION FOR TAXES
Current tax charge
Deferred tax charge
NET INCOME/LOSS AFRET TAXES FROM DISCONTINUED OPERATIONS
V-IV-1
V-IV-1
V-IV-1
V-IV-2
V-IV-2
V-IV-2
V-IV-3
V-IV-3
V-IV-3
V-IV-3
V-IV-4
V-IV-5
V-IV-6
V-IV-7
V-IV-8
V-IV-8
Reviewed
Current Period
1 January 201531 March 2015
Reviewed
Prior Period
1 January 201431 March 2014
3,029,168
2,600,996
2,186
1,538
423,477
304,786
118,691
971
1,789,005
1,347,763
67,162
174,917
134,970
64,193
1,240,163
228,679
333,685
42,784
290,901
105,006
35
104,971
62,130
59,378
51,021
-7,141
15,498
279,257
1,869,607
449,394
855,312
564,901
564,901
(130,274)
(72,801)
(57,473)
434,627
-
2,710,023
2,156,561
2,022
91
550,391
412,719
137,672
958
1,650,875
1,247,559
38,776
227,581
98,177
38,782
1,059,148
145,105
241,454
39,400
202,054
96,349
57
96,292
64,956
72,326
4,728
32,697
34,901
224,003
1,565,538
375,944
733,642
455,952
455,952
(82,338)
(70,838)
(11,500)
373,614
-
434,627
373,614
0.1739
0.1494
The accompanying explanations and notes form an integral part of these financial statements.
7
Reviewed
Current Period
1 January 201531 March 2015
Reviewed
Prior Period
1 January 201431 March 2014
(165,419)
-
23,675
-
(57,587)
35,483
(187,523)
434,627
47,864
386,763
(127,773)
3,461
(100,637)
373,614
44,722
328,892
247,104
272,977
I.
XII. TOTAL GAINS AND LOSSES RECOGNIZED DURING THE PERIOD (X+XI)
The accompanying explanations and notes form an integral part of these financial statements.
8
CONVENIENCE TRANSLATION OF PUBLICLY ANNOUNCED UNCONSOLIDATED INTERIM FINANCIAL STATEMENTS ORIGINALLY ISSUED
IN TURKISH, SEE NOTE I. OF SECTION THREE
TRKYE VAKIFLAR BANKASI TRK ANONIM ORTAKLII UNCONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE THREE-MONTH PERIOD ENDED 31 MARCH 2015
(Amounts expressed in thousands of Turkish Lira (TL) unless otherwise stated.)
CHANGES IN EQUITY
I.
II.
III.
IV.
4.1
4.2
V.
VI.
VII.
VIII.
IX.
X.
XI.
XII.
12.1
12.2
XIII.
XIV.
XV.
XVI.
XVII.
XVIII.
18.1
18.2
18.3
Notes
I.
II.
III.
IV.
4.1
4.2
V.
VI.
VII.
VIII.
IX.
X.
XI.
XII.
12.1
12.2
XIII.
XIV.
XV.
XVI.
XVII.
XVIII.
18.1
18.2
18.3
VI-1
VI-1
Paid-in
Capital
Capital
Reserves from
Inflation
Adjustments to
Paid-in Capital
2,500,000
-
Valuation
Prior Period Differences of
Net Profit/ the Marketable
(Loss)
Securities
Revaluation
Surp. On Assets
Held for Sale
Hedging
and Assets of
Reserves Discount. Op.s
Shareholders
Equity before
Minority
Interest
Share
Premium
Share
Cancellation
Profits
Legal
Reserves
Status
Reserves
Extraordinary
Reserves
Other
Reserves
Current
Period Net
Profit/ (Loss)
723,918
854,240
5,889,226
266,115
1,585,539
681,326
44,136
71,821
12,616,321
12,616,321
(88,429)
-
(88,429)
-
(88,429)
-
(2,599)
-
(2,599)
-
(2,599)
-
158,556
158,556
-
1,325,482
1,325,482
-
373,614
(1,585,539)
(100,000)
(1,485,539)
-
1,501
1,501
-
373,614
(100,000)
(100,000)
-
373,614
(100,000)
(100,000)
-
2,500,000
723,918
1,012,796
7,214,708
266,115
373,614
592,897
45,637
69,222
12,798,907
12,798,907
2,500,000
723,918
1,012,796
7,214,708
235,227
1,753,273
1,216,969
45,637
69,222
14,771,750
14,771,750
(187,523)
(187,523)
-
(187,523)
161,214
161,214
-
434,627
(100,000)
(100,000)
-
434,627
(100,000)
(100,000)
-
2,500,000
723,918
1,174,010
14,918,854
14,918,854
1,114,821
1,114,821
-
141,116
141,116
-
434,627
(1,753,273)
(100,000)
(1,653,273)
-
236,122
236,122
-
8,329,529
376,343
434,627
1,029,446
281,759
69,222
The accompanying explanations and notes form an integral part of these financial statements.
9
Minority
Interest
Total
Shareholders
Equity
Reviewed
Prior Period
31 March 2014
A.
1.1
1.1.1
1.1.2
1.1.3
1.1.4
1.1.5
1.1.6
1.1.7
1.1.8
1.1.9
313,331
2,809,466
(1,589,073)
36,072
333,685
23,281
176,466
(368,357)
(279,952)
(828,257)
195,579
2,238,301
(1,491,785)
42,371
241,454
58,274
150,677
(849,131)
(82,185)
(112,397)
1.2
1.2.1
1.2.2
1.2.3
1.2.4
1.2.5
1.2.6
1.2.7
1.2.8
1.2.9
1.2.10
(2,451,654)
619
(1,817,695)
(8,256,707)
(59,566)
25,663
7,803,290
238,573
(385,831)
971,507
(628,669)
(2,904,699)
607,616
(766,218)
2,270,092
(279,966)
2,673,351
I.
(2,138,323)
1,167,086
B.
II.
(853,707)
(481,186)
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
(25,524)
18,699
(1,934,173)
1,095,346
(99,800)
107,478
(15,733)
(40,382)
179,477
(2,610,468)
1,835,403
(478,800)
640,590
(7,006)
C.
III.
1,800,172
(585,642)
3.1
3.2
3.3
3.4
3.5
3.6
3,594,150
(1,693,978)
(100,000)
-
236,109
(821,751)
-
IV.
129,636
20,152
V.
(1,062,222)
120,410
VI.
8,182,469
5,677,984
VII.
7,120,247
5,798,394
The accompanying explanations and notes form an integral part of these financial statements.
10
SECTION THREE
ACCOUNTING POLICIES
I.
BASIS OF PRESENTATION
The unconsolidated financial statements are prepared within the scope of the Regulation on
Accounting Applications for Banks and Safeguarding of Documents related with Banking Act
numbered 5411 published in the Official Gazette no.26333 dated 1 November 2006 and other
regulations related to reporting principles on accounting records of Banks published by Banking
Regulation and Supervision Agency and circulars and interpretations published by Banking
Regulation and Supervision Authority (together referred as BRSA Accounting and Reporting
Legislation) and in case where a specific regulation is not made by BRSA, Turkish Accounting
Standards, within the scope of interim reporting Turkish Accounting Standards 34 and Turkish
Financial Reporting Standards (TFRS) and related appendices and interpretations (referred as
Turkish Accounting Standards or TAS) put into effect by Public Oversight Accounting and
Auditing Standards Authority (POA).
The format and content of the publicly announced unconsolidated financial statements and notes to
these statements have been prepared in accordance with the Communiqu on Publicly Announced
Financial Statements, Explanations and Notes to These Financial Statements, published in Official
Gazette no. 28337, dated 28 June 2012, and amendments to this Communiqu.
The accompanying unconsolidated financial statements are prepared in accordance with the historical
cost basis as modified in accordance with inflation adjustments applied until 31 December 2004,
except for the financial assets at fair value through profit or loss, derivative financial assets and
liabilities held for trading purpose, available-for-sale financial assets and unconsolidated investments
in associates and subsidiaries whose fair value can be reliably measured and assets available for sale,
which are presented on a fair value basis.
The preparation of financial statements requires the use of certain critical estimates on assets and
liabilities reported as of balance sheet date or amount of contingent assets and liabilities explained and
amount of income and expenses occurred in related period. Although these estimates rely on the
managements best judgment, actual results can vary from these estimates. Judgments and estimates
are explained in related notes.
The accounting policies and valuation principles applied in the preparation of these financial
statements are defined and applied in accordance with TAS. Those accounting policies and valuation
principles are explained in Notes II. to XXII. below.
Additional paragraph for convenience translation to English
The differences between accounting principles, as described in the preceding paragraphs, and the
accounting principles generally accepted in countries, in which the accompanying unconsolidated
financial statements are to be distributed, and International Financial Reporting Standards (IFRS),
may have significant influence on the accompanying unconsolidated financial statements.
Accordingly, the accompanying unconsolidated financial statements are not intended to present the
financial position and results of operations in accordance with the accounting principles generally
accepted in such countries and IFRS.
II.
III.
INFORMATION
TRANSACTIONS
ON
FORWARDS,
OPTIONS
AND
OTHER
DERIVATIVE
The derivative transactions mainly consist of currency and interest rate swaps, precious metals swaps,
foreign currency forward contracts and currency options. The Bank has classified its derivative
transactions, mentioned above, as trading purpose in accordance with the TAS 39 Financial
Instruments: Recognition and Measurement.
Derivatives are initially recorded at their purchase costs including the transaction costs.
The notional amounts of derivative transactions are recorded in off-balance sheet accounts based on
their contractual amounts.
Subsequently, the derivative transactions are measured at their fair values and the changes in fair
values are recorded in the balance sheet under derivative financial assets held for trading purpose or
derivative financial liabilities held for trading purpose. The subsequent fair value changes of
derivative transactions are recognized in the statement of income.
12
V.
VI.
VII.
IX.
X.
XI.
15
Tangible assets
Buildings
Office equipment, furniture and fixture, and
motor vehicles
Assets obtained through finance leases
Depreciation Rate
(%)
50
5-10
4-5
10-20
20-25
There are no changes in the accounting estimates that are expected to have an impact in the current or
subsequent periods.
At each reporting date, the Bank evaluates whether there is objective evidence of impairment on its
assets. If there is an objective evidence of impairment, the assets recoverable amount is estimated in
accordance with the TAS 36 - Impairment of Assets and if the recoverable amount is less than the
carrying value of the related asset, a provision for impairment loss is made.
XIII.
XV.
Discount Rate
Estimated Inflation Rate
Increase in Real Wage Rate
Current Period
Prior Period
8.60%
6.50%
7.50%
8.60%
6.50%
7.50%
The technical interest rate to be used for the actuarial calculation is 9.80%
Income and expenditures in respect to funds insurance division are considered in the calculation
of discounted liability.
Law requires the transfer to be completed in three years beginning from 1 January 2008. The three
year period has expired on 8 May 2011; however, it has been extended to 8 May 2013 with the
decision of Council of Ministers published in Official Gazette dated 9 April 2011. Before the
expiration date, with the decision of Council of Ministers published in Official Gazette dated 3 May
2013, the period for transferring banks, insurance and reassurance firms, board of trade, exchanges or
participants, monthly salary paid individuals and beneficiaries of the funds that are constructed for
their personnel to Social Security Institution in the scope of the temporary article no. 20 of the Social
Security Law no. 506 published in Official Gazette dated 30 April 2014 extended for one year. The
Council of Ministers has been lastly authorized to determine the transfer date in accordance with the
last amendment in the first paragraph of the 20th provisional article of Law No.5510 implemented by
the Law No. 6645 on Amendment of the Occupational Health and Safety Law and Other Laws and
Decree Laws published in the Official Gazette dated 23 April 2015 numbered 29335.
The employer of pension fund participants (the Banks) will continue to pay the non-transferable social
rights, which are already disclosed in the article of association of the pension fund, to the pension
participants and their right owners, even though the salary payment obligation has been transferred to
the Social Security Foundation.
The technical financial statements of the Fund are audited by the certified actuary according to the
Actuaries Regulation which is issued as per the Article no. 21 of the 5684 numbered Insurance Law.
As per the actuarial report dated February 2015 in compliance with the principles explained above,
there is no technical or actual deficit determined which requires provision against as at 31 December
2014.
18
INFORMATION ON TAXATION
Corporate tax
Corporate tax rate is 20% in Turkey. This rate is applied to total income of the Bank adjusted for
certain disallowable expenses, exempt income and any other allowances.
Dividends paid to the resident institutions and the institutions working through local offices or
representatives are not subject to withholding tax. Except for the dividend payments to these
institutions, the withholding tax rate on the dividend payments is 15%. In applying the withholding
tax rates on dividend payments to the nonresident institutions and the individuals, the withholding tax
rates covered in the related Double Tax Treaty Agreements are taken into account. Appropriation of
the retained earnings to capital is not considered as profit distribution and therefore is not subject to
withholding tax.
The prepaid taxes are calculated and paid at the rates valid for the earnings of the related years. The
payments can be deducted from the annual corporate tax calculated for the whole year earnings.
In accordance with the tax legislation, tax losses can be carried forward to offset against future taxable
income for up to five years. Tax losses cannot be carried back to offset profits from previous periods.
In Turkey, there is no procedure for a final and definite agreement on tax assessments. Companies file
their tax returns with their tax offices by the end of 25 th of the fourth month following the close of the
accounting period to which they relate. Tax returns are open for five years from the beginning of the
year that follows the date of filing during which time the tax authorities have the right to audit tax
returns, and the related accounting records on which they are based, and may issue re-assessments
based on their findings.
Deferred taxes
According to the TAS 12 - Income Taxes; deferred tax assets and liabilities are recognized, on all
taxable temporary differences arising between the carrying values of assets and liabilities in the
financial statements and their corresponding balances considered in the calculation of the tax base,
except for the differences not deductible for tax purposes and initial recognition of assets and
liabilities which affect neither accounting nor taxable profit.
The deferred tax assets and liabilities are reported as net in the financial statements only if the Bank
has legal right to present the net value of current year tax assets and current year tax liabilities and the
deferred tax assets and deferred tax liabilities are income taxes of the same taxable entity.
In case valuation differences resulting from the subsequent measurement of the items are recognized
in the statement of income, then the related current and or deferred tax effects are also recognized in
the statement of income. On the other hand, if valuation differences are recognized in shareholders
equity, then the related current or deferred tax effects are also recognized directly in the shareholders
equity.
Transfer Pricing
In Turkey, the transfer pricing provisions have been stated under the Article 13 of Corporate Tax Law
with the heading of disguised profit distribution via transfer pricing. The General Communiqu on
disguised profit distribution via Transfer Pricing, dated 18 November 2007 sets details about
implementation.
Pursuant to the relevant Communiqu, if a taxpayer enters into transactions regarding sale or purchase
of goods and services with related parties, where the prices are not set in accordance with arm's length
principle, then related profits are considered to be distributed in a disguised manner through transfer
pricing. Such disguised profit distributions through transfer pricing are not accepted as tax deductible
for corporate income tax purposes.
19
XVIII.
XIX.
XX.
XXI.
XXII.
OTHER MATTERS
Earnings per shares
Earnings per share has been calculated by dividing the net profit for the year to weighted average of
outstanding shares. In Turkey, the companies may perform capital increase (Bonus Shares) from
retained earnings. In earning per share computation bonus shares are treated as issued shares.
As at and for the three-month period ended 31 March 2015, earnings per 100 shares are full TL 0.1739
(31 March 2014: full TL 0.1494).
Related parties
Parties are considered to be related if one party has the ability to control the other party or exercise
significant influence over the other party in making financial and operating decisions. Shareholders,
top executives and board members are accepted as related party personally, with their families and
companies according to TAS 24 - Related Party Disclosures Standard. Transactions made with
related parties are disclosed in Section 5 Note V.
Cash and cash equivalents
Cash and cash equivalents which is a base for preparation of cash flow statement includes cash in TL,
cash in FC, cheques, demand deposits for both Central Bank of Turkey (CBT) and other banks,
money market placements and time deposits at banks and marketable securities whose original
maturity is less than three months.
Classifications
None.
20
SECTION FOUR
INFORMATION RELATED TO FINANCIAL POSITION OF THE BANK
I.
21
Current Period
Surplus credit risk weighted
Risk classifications:
Claims on sovereigns and Central Banks
Claims on regional governments or local authorities
Claims on administrative bodies and other noncommercial undertakings
Claims on multilateral development banks
Claims on international organizations
Claims on banks and intermediary institutions
Claims on corporate
Claims included in the regulatory retail portfolios
Claims secured by residential property
Past due loans
Higher risk categories decided by the Agency
Marketable securities secured by mortgages
Securitization exposures
Short-term claims and short-term corporate claims
on banks and intermediary institutions
Undertakings for collective investments in mutual
funds
Other claims
31 March 2015
Risk Weights
75%
100%
0%
10%
20%
50%
54,626,928
11,731,978
40,099,580
27,281,960
61,643,563
2,479,785
48,294,898
13,827
2,440,616
6,001,365
466,492
42,410
4,670,681
207,088
131,689
9,877
-
948
8,418,960
739,967
42,884
2,285
-
1,705,547
752,360
31,173,816
-
27,281,960
-
1,212,162
607
50,973,978
830,868
3,698,024
357,009
-
2,479,785
-
1,256,458
86,318
4,570,915
22
150%
200%
250%
1250%
7,908,045 76,846
7,908,045 76,846
-
Prior Period
Surplus credit risk weighted
Risk classifications:
Claims on sovereigns and Central Banks
Claims on regional governments or local authorities
Claims on administrative bodies and other non-commercial
undertakings
Claims on multilateral development banks
Claims on international organizations
Claims on banks and intermediary institutions
Claims on corporate
Claims included in the regulatory retail portfolios
Claims secured by residential property
Past due loans
Higher risk categories decided by the Agency
Marketable securities secured by mortgages
Securitization exposures
Short-term claims and short-term corporate claims on banks and
intermediary institutions
Undertakings for collective investments in mutual funds
Other claims
0% 10%
20%
50%
31 December 2014
Risk Weights
75%
100%
150%
200%
250% 1250%
54,978,227
46,173,249
16,257
2,439,440
34,810
7,031,344
207,239
121,740
11,949
-
979
- 1,017,536
6,911,054 1,475,539
2,127
1,137,923
910,484
- 45,989,999
41,820
- 23,371,738 1,185,664
- 29,466,401
- 3,401,067
240,075
3,166
- 2,986,884 9,434,959 97,738
-
1,381,639
23
62,648
5,454,530
507,007
4,643,939
9,938,328
78,039
879,185
19,308,199
14.18
10.77
10.84
9,490,415
55,940
777,799
18,013,163
13.96
11.26
11.35
In accordance with the BDDK.BYD.126.01 numbered and 7 February 2008 dated BRSA circular, capital
adequacy ratio as at 2014 was measured by taking value at operational risk calculated based on gross
incomes for the years ended 2013, 2012 and 2011 into consideration. For the year 2015, value at
operational risk is being calculated based on gross incomes for the years ended 2014, 2013 and 2012.
24
25
Current
Period
Prior
Period
2,500,000
723,918
9,933,998
1,311,205
434,627
434,627
69,222
14,972,970
2,500,000
723,918
8,462,731
1,262,606
1,753,273
1,753,273
69,222
14,771,750
54,116
94,502
60,934
-
97,140
28,153
-
209,552
14,763,418
125,293
14,646,457
26
91,400
91,400
112,613
112,613
14,672,018
14,533,844
1,295,931
1,905,885
2,117,650
1,552,864
4,754,680
1,482,877
3,600,527
4,754,680
19,426,698
118,126
3,600,527
18,134,371
120,737
373
-
471
-
19,308,199
-
18,013,163
-
50,447
72,437
27
Total Amount
1,905,885
2,373,228
Regulatory treatment
Perpetual or dated
Issue date
Issuer call subject to prior supervisory approval
Call option dates, conditioned call dates and call amount
Subsequent call dates, if applicable
Coupons / dividends
Fixed or floating dividend/coupon
28
MARKET RISK
The Bank calculates market risk using standard method and allocates legal capital in compliance with
Regulation on Measurement and Assessment of Capital Adequacy Ratios of Banks published in
28 June dated 2012 Official Gazette no. 28337.
The market risk is defined as the potential risk of loss due to changes in interest rates, foreign
exchange rates and equity prices on balance sheet and off-balance sheet positions of the banks.
The capital needed for general market risk and specific risks is calculated using the standard method
defined by the Regulation on Measurement and Assessment of Capital Adequacy Ratios of Banks
and reported monthly.
In addition to the standard method, the Bank also uses internal models like Historical and Monte Carlo
Simulations in measuring market risk. The Bank also performs daily back-testing in order to measure
the reliability of the models. Besides, scenario analyses are implemented in order to support the
Standard Method and internal models. In order to monitor the maturity structure of the asset and
liability accounts, liquidity analysis are performed and the duration of the Banks assets and liabilities
is calculated.
The market risk analysis of the Bank is reported monthly and sent to the related regulatory
institutions.
Value at market risk
III.
Current
Period
Prior
Period
13,984
48,783
284
13,128
99
34,268
234
14,988
8,211
78,039
55,940
975,487
699,250
OPERATIONAL RISK
The Bank calculated the value at operational risk in accordance with the third section of Regulation
Regarding Measurement and Assessment of Capital Adequacy Ratios of Banks that is Computation
of Value of Operational Risk published in 28 June 2012 dated Official Gazette no. 28337. The
operational risk which the Bank is exposed to is calculated according to the "Basic Indicator Method"
hence by multiplying the average of the last three years actual gross income with 12.5, in line with
the effective legislation practices in the country.
29
The Banks foreign currency purchase rate at the balance sheet date
Foreign currency purchase rates for the days before balance sheet date;
Day 1
Day 2
Day 3
Day 4
Day 5
30
US Dollar
Euro
2.6000
2.7950
2.2750
2.5500
2.5450
2.5100
2.5000
US Dollar
2.4992
2.4732
2.7739
2.7975
2.7372
2.7300
Euro
2.7406
Euro
US Dollar
Other FCs
Total
2,171,481
82,359
810,041
9,272,960
321,124
-
12,485,279
3,950,888
51,585
2,935,747
26,169,896
104,049
4,390,464
45,479
42,467
-
19,047,224
4,078,726
51,585
3,745,788
35,485,323
321,124
104,049
64,812
1,350
125
693,270
23,368
1,350
125
781,450
Total assests
12,722,777
46,392,189
4,501,778
63,616,744
Liabilities:
Bank deposits
Foreign currency deposits
Interbank money market takings
Other funding
Securities issued
Miscellaneous payables
Derivative financial liabilities held for risk
Other liabilities (1) (4)
396,321
10,211,529
5,248,693
1,693,802
247,740
44,761
2,355,314
15,601,707
7,178,373
9,245,132
6,527,593
50,737
5,187,460
72,066
613,965
3,024
40,732
743
2,823,701
26,427,201
7,178,373
14,496,849
8,221,395
339,209
5,232,964
Total liabilities
17,842,846
46,146,316
730,530
64,719,692
(5,120,069)
5,358,030
5,923,905
565,875
2,349,437
245,873
286,389
10,606,056
10,319,667
8,973,176
3,771,248
(3,769,250)
164,308
3,933,558
295,727
(1,102,948)
1,875,169
16,694,269
14,819,100
11,618,340
Euro
US Dollar
Other FCs
Total
11,794,857
16,845,448
(5,050,591)
5,259,448
7,286,590
2,027,142
2,206,271
39,483,255
39,728,574
(245,319)
701,095
8,766,209
8,065,114
9,304,139
4,443,232
1,005,175
3,438,057
(3,430,091)
1,377,221
4,807,312
260,328
55,721,344
57,579,197
(1,857,853)
2,530,452
17,430,020
14,899,568
11,770,738
Prior Period
Total assets
Total liabilities
Net on balance sheet position
Net off-balance sheet position
Derivative assets (6)
Derivative liabilities (6)
Non-cash loans (5)
(1)
(2)
(3)
(4)
(5)
(6)
Derivative financial assets amounting to TL 31,837 (31 December 2014: TL 6,468) and liabilities amounting to TL
62,782 (31 December 2014: TL 113,526) resulting from changes in foreign exchange rates are not included.
Foreign currency indexed loans amounting to TL 3,227,097 (31 December 2014: TL 2,763,606) which are presented in
TL column in the balance sheet are included in the table above.
Prepaid expenses amounting to TL 62,180 (31 December 2014: TL 56,439) is not included.
Unearned revenues amounting to TL 49,053 (31 December 2014: TL 46,050) and equities amounting to TL 386,929
(31 December 2014: TL 374,894) are not included.
Non-cash loans are not taken into consideration in the calculation of the net off-balance sheet position.
Asset purchase commitments amounting to TL 141,501 (31 December 2014: TL 1,327,706) and asset sales commitments
amounting to TL 204,659 (31 December 2014: TL 1,312,928) are included.
31
Equity (*)
31 March 2014
Profit or loss
Equity (*)
US Dollar
EUR
Other currencies
53,079
(8,316)
200
53,079
(8,316)
200
18,944
(10,804)
747
18,944
(10,804)
747
Total, net
44,963
44,963
8,887
8,887
(*)
Equity effect also includes profit or loss effect of 10% devaluation of TL against related currencies.
10 percent appreciation of the TL against the following currencies as at and for the three-month period
ended 31 March 2015 and 2014 would have effect on equity and profit or loss (without tax effects) by
the amounts shown below.
31 March 2015
Profit or loss
Equity (*)
31 March 2014
Profit or loss
Equity (*)
US Dollar
Euro
Other currencies
(51,598)
8,316
(73)
(51,598)
8,316
(73)
(17,308)
10,804
(496)
(17,308)
10,804
(496)
Total, net
(43,355)
(43,355)
(7,000)
(7,000)
(*)
Equity effect also includes profit or loss effect of 10% revaluation of TL against related currencies.
32
1-3 Months
3-12 Months
1-5 Years
5 Years and
Over
Non-Interest
Bearing
Total
1,040,081
3,732,253
174,189
4,239
20,138,891
287,535
21,178,972
4,198,216
237,341
216,121
42,286
48,013
39,271
583,032
2,940,276
37,264,180
325,851
16,383
3,048,873
28,137,971
3,241,282
712
4,115,615
19,125,299
1,799,613
4,231
4,647,798
17,583,359
1,279,282
42,461
2,178,698
10,377,781
225,045
262
15
357,009
5,689,736
16,931,275
112,845,599
6,871,073
5,753,785
Total assets
45,556,365
34,819,148
25,091,283
23,600,913
12,821,057
26,473,186
168,361,952
Liabilities:
Bank deposits
Other deposits
Interbank money market takings
Miscellaneous payables
Securities issued
Funds borrowed
Other liabilities (**)
4,055,204
54,348,147
14,429,895
1,318,133
3,334,570
151,147
406,562
16,236,233
249,594
1,856,117
7,520,699
19,358
279,527
6,302,573
684,267
2,287,424
3,435,515
200,268
18,489
315,089
5,442,604
79,262
815,672
797,691
2,850,919
163,727
17,849,759
3,384,592
19,528,915
4,905,020
94,755,201
15,678,845
3,384,592
10,904,278
15,167,737
23,566,279
Total liabilities
77,637,096
26,288,563
13,189,574
6,671,116
3,648,610
40,926,993
168,361,952
(32,080,731)
961,480
-
8,530,585
1,684,450
-
11,901,709
-
16,929,797
(1,402,273)
9,172,447
(871,000)
(14,453,807)
-
46,534,538
(46,534,538)
2,645,930
(2,273,273)
Position, Net
(31,119,251)
10,215,035
11,901,709
15,527,524
8,301,447
(14,453,807)
372,657
Current Period
Assets:
Cash and balances with CBT
Banks
Financial assets at fair value
through profit/loss
Interbank money market
placements
Available-for-sale financial assets
Loans and receivables
Held-to-maturity investments
Other assets (*)
(*)
(**)
Subsidiaries, associates and tangible and intangible assets, and deferred tax are included in non-interest bearing column.
Equity is included in non-interest bearing column in other liabilities line.
33
1-3 Months
3-12 Months
1-5 Years
5 Years
and Over
Non-Interest
Bearing
Total
3,055,551
2,158,787
114,574
6,245
18,829,428
291,014
21,884,979
2,570,620
158,375
164,087
6,250
28,995
21,869
619
380,195
2,629,343
33,327,775
281,186
15,993
2,018,908
22,020,835
1,559,200
110
5,222,280
21,643,728
3,180,566
4,868
4,234,901
16,994,647
290,780
47,165
2,217,850
10,356,457
1,542,861
528
15
240,075
5,551,861
16,323,297
104,583,517
6,854,593
5,620,525
Total assets
41,627,010
25,877,714
30,063,937
21,596,488
14,139,565
24,913,012
158,217,726
Liabilities:
Bank deposits
Other deposits
Interbank money market takings
Miscellaneous payables
Securities issued
Fund borrowed
Other liabilities (**)
4,340,899
44,970,026
15,596,871
718,111
3,795,555
142,908
452,338
19,229,378
233,330
2,188,178
6,750,842
19,277
22,912
5,909,177
349,241
2,584,786
3,566,606
127,000
19,415
4,966,682
70,562
458,380
205,860
743,483
1,660,806
59,910
16,752,913
3,160,415
19,121,865
4,876,059
86,880,909
16,385,302
3,160,415
10,457,757
14,927,048
21,530,236
Total liabilities
69,564,370
28,873,343
12,559,722
5,515,039
2,610,149
39,095,103
158,217,726
(27,937,360)
658,387
-
(2,995,629)
1,660,268
-
17,504,215 16,081,449
- (1,304,201)
11,529,416
(777,200)
(14,182,091)
-
45,115,080
(45,115,080)
2,318,655
(2,081,401)
Position, Net
(27,278,973)
(1,335,361)
17,504,215
10,752,216
(14,182,091)
237,254
TL
%
Prior Period
Assets:
Cash and balances with CBT
Banks
Financial assets at fair value
through profit/loss
Interbank money market
placements
Available-for-sale financial assets
Loans and receivables
Held-to-maturity investments
Other assets (*)
(*)
(**)
14,777,248
Subsidiaries, associates and tangible and intangible assets are stated in non-interest bearing column.
Equity is included in non-interest bearing column in other liabilities line.
Current Period
Assets:
Cash and balance with CBT
Banks
Financial assets at fair value through profit/loss
Interbank money market placements
Available-for-sale financial assets
Loans and receivables
Held-to-maturity investments
Liabilities:
Bank deposits
Other deposits
Interbank money market takings
Miscellaneous payables
Securities issued
Funds borrowed
34
0.01
5.24
4.27
-
0.21
6.91
5.65
1.56
0.99
11.06
6.98
12.60
5.56
0.90
1.94
3.12
0.93
0.43
2.17
0.78
3.58
1.57
10.59
9.18
8.59
9.20
7.04
Euro
%
US Dollar
%
Japanese Yen
%
TL
%
0.01
5.25
4.36
-
0.28
6.96
5.40
1.58
1.51
10.47
7.19
12.70
5.56
0.66
1.99
3.47
0.96
0.42
2.13
0.95
3.45
1.58
8.59
9.22
9.82
9.06
7.04
Liabilities:
Bank deposits
Other deposits
Interbank money market takings
Miscellaneous payables
Securities issued
Funds borrowed
Gain/
Loss
Gain/
Equity-Loss/
Equity
500 / (400)
200 / (200)
200 / (200)
(2,390,096) / 2,387,058
160,327 / (15,010)
715,919 / (653,323)
(12.38%) / 12.36%
0.83% / (0.08%)
3.71% / (3.38%)
1,718,725
8.90%
(1,513,850)
(7.84%)
Applied Shock
(+/- x base point)
Gain/
Loss
Gain/
Equity-Loss/
Equity
500 / (400)
200 / (200)
200 / (200)
(2,440,546) / 2,452,172
178,773 / (9,440)
441,639 / (383,071)
(13.54%) / 13.61%
0.99% / (0.05%)
2.45% / (2.13%)
2,059,661
11.43%
(1,820,134)
(10.10%)
35
Carrying Value
Comparison
Fair Value(*)
Market Value(*)
614,732
614,732
-
614,732
614,732
-
614,732
614,732
-
1,090,735
1,038,581
The values of stocks traded in Stock Exchange are included to both columns assuming the
market value is approximate to fair value.
The values of stocks unquoted in exchange are determined according to valuation reports
prepared by independent valuation companies.
Prior Period
Stock Investments
Carrying Value
Comparison
Fair Value(*)
Market Value(*)
631,875
631,875
-
631,875
631,875
-
631,875
631,875
-
1,105,121
1,053,476
The values of stocks traded in Stock Exchange are included to both columns assuming the
market value is approximate to fair value.
The values of stocks unquoted in exchange are determined according to valuation reports
prepared by independent valuation companies.
Total unrealized gain or loss, total revaluation surplus and values included to principal and
supplementary capital
Total unrealized gain or loss, total appraisal surplus and values included to principal and
supplementary capital are given in the below table:
Portfolio-Current Period
Realized
Gain/Loss
in Current
Period
Revaluation Surplus
Total (*)
Included in
Core Capital
Total (*)
Included in
Core Capital
513,394
513,394
161,072
-
161,072
-
4. Total
513,394
513,394
161,072
161,072
(*)
36
Portfolio-Prior Period
524,807
524,807
204,847
-
204,847
-
4. Total
524,807
524,807
204,847
204,847
(*)
VI.
Revaluation Surplus
Included in
Supplementary
Total (*)
Capital
LIQUIDITY RISK
In order to avoid the liquidity risk, the Bank diverts funding resources as customer deposits and
foreign borrowings, considers the maturity mismatch between assets and liabilities and maintains
liquid assets to guarantee sufficient liquidity during market fluctuations.
While the Banks short term liquidity need is met mainly with deposits, its long term liquidity is
provided through foreign funding sources such as syndication and securitization transactions and
international bond issues. There are no significant idle liquidity resources.
Maturity analysis of assets and liabilities according to remaining maturities
Current Period
Assets:
Cash and balance with
CBT
Banks
Financial assets at fair
value through profit/loss
Interbank money market
placements
Available-for-sale
financial assets
Loans and receivables
Held-to-maturity
investments
Other assets
Total assets
Liabilities:
Bank deposits
Other deposits
Funds borrowed
Interbank money market
takings
Securities issued
Miscellaneous payables
Other liabilities
Total liabilities
Liquidity gap
Prior Period
Demand Up to 1 Month
1-3
Months
3-12
Months
1-5 Years
Total
21,178,972
3,028,318
991,470
174,189
4,239
21,178,972
4,198,216
49,377
17,190
42,286
434,908
39,271
583,032
1,198,213
7,717,189
21,967,200 48,963,791
7,049,220
28,166,475
15
357,009
16,931,275
112,845,599
441,372
9,226,817
525,266
4,164,307
726,780
258,420
15,209
336,365
4,231
2,494,288
92,908
3,782,000
262
4,914,395
6,871,073
5,753,785
24,207,290
11,435,816
5,154,581
23,552,534
59,703,084
39,037,228
5,271,419
168,361,952
163,727
17,849,759
-
4,055,204
54,348,147
2,944,717
406,562
16,236,233
698,342
279,527
6,302,573
4,722,872
18,489
2,693,714
4,108,092
4,905,020
94,755,201
15,167,737
14,429,895
1,218,737
2,695,285
560,903
249,594
1,807,411
59,988
98,057
684,267
2,191,181
52,651
315,089
5,686,949
50,397
3,849,071
629,319
18,955,200
15,678,845
10,904,278
3,384,592
23,566,279
18,013,486
80,252,888
19,556,187
14,233,071
8,764,638
7,957,163
19,584,519
168,361,952
6,193,804
(68,817,072)
(14,401,606)
9,319,463 50,938,446
31,080,065
(14,313,100)
Demand Up to 1 Month
1-3
Months
3-12
Months
1-5 Years
5 Years
and Over Undistributed(*)
Total
21,078,355
15,184,411
55,931,161
7,805,460
36,611,257
6,177,711
4,854,381
18,698,322
158,217,726
158,217,726
5,893,944 48,125,701
30,433,546
(13,843,941)
Total assets
Total liabilities
20,926,527
16,812,823
14,139,195
70,245,968
4,676,850
23,293,031
Liquidity gap
4,113,704
(56,106,773)
(18,616,181)
(*)
5 Years
and Over Undistributed(*)
Certain assets on the balance sheet that are necessary for the banking operations but not convertible into cash in short period
such as tangible assets, intangible assets, associates, subsidiaries, miscellaneous receivables and shareholders equity in the
liabilities have been included in this column.
37
Gross
nominal
outflow
Demand
Less than
one month
1-3 months
3 months to
1 year
1-5 years
More than
5 years
4,905,020
94,755,201
15,167,737
15,678,845
10,904,278
3,384,592
5,635,277
4,914,379
95,191,860
16,147,710
15,696,411
11,761,725
3,384,592
7,554,376
163,727
17,849,759
629,319
1,322,421
4,057,761
54,493,029
2,959,763
14,436,994
1,221,992
2,695,285
334,914
410,283
16,388,363
717,747
249,794
1,823,959
59,988
25,823
282,608
6,441,615
4,764,408
692,799
2,231,930
52,651
19,094
2,939,103
316,824
6,483,844
50,397
4,766,689
5,768,170
150,430,950 154,651,053
19,965,226
80,199,738
19,675,957
14,466,011
9,809,262
10,534,859
Current Period
Bank deposits
Other deposits
Funds borrowed
Money market takings
Issued Securities (Net)
Miscellaneous payables
Other liabilities
Total
Non-Cash Loans
29,938,473
29,938,473
183,667
632,976
17,571,872
7,448,999
3,626,767
474,192
Carrying
amount
Gross
nominal
outflow
Demand
Less than
one month
1-3 months
3 months to
1 year
1-5 years
More than
5 years
4,876,059
86,880,909
14,927,048
16,385,302
10,457,757
3,160,415
3,601,609
4,879,012
87,345,379
15,845,654
16,396,538
11,312,237
3,160,415
4,553,819
59,910
16,752,913
322,656
904,356
4,341,671
45,091,487
1,240,618
15,604,502
713,864
2,781,158
393,062
453,419
19,424,640
854,153
233,628
2,208,287
56,601
35,016
24,012
6,056,284
6,607,235
351,133
2,407,908
9,687
20,055
2,794,190
5,982,178
37,883
4,349,458
207,275
3,173,815
140,289,099 143,493,054
18,039,835
70,166,362
23,265,744
15,456,259
8,834,306
7,730,548
243,079
835,912
16,437,467
6,930,286
3,503,638
683,541
Prior Period
Bank deposits
Other deposits
Funds borrowed
Money market takings
Issued Securities (Net)
Miscellaneous payables
Other liabilities
Total
Non-Cash Loans
28,633,923
28,633,923
This table shows the undiscounted cash flows on the Banks financial liabilities on the basis of their
earliest possible contractual maturity. Therefore, the gross nominal outflows in the table above vary
from the carrying amounts of the relevant financial liabilities reflected in the financial statements.
Securitisation Positions
None.
Credit risk mitigation techniques
Basic Financial Guarantee method is used for the financial guarantees in accordance with
Communique on Credit Risk Mitigation. Cash or cash equivalent, treasury bill, government bond
and guarantees are used in credit risk mitigation.
Applications on guarantees valuation and method
Policies on the valuation of financial guarantees and their evaluation and valuation of immovables that
are received as mortgage for loans have been formed. These policies and procedures are prepared in
accordance with Communique on Credit Risk Mitigation and include minimum conditions
regarding guarantee valuation and management.
Types of main guarantees recieved
Main types of the guarantees that Bank receieves for loans provided are mortgages,
guarantees/sureties and financial guarantees.
Main guarantors, credit derivatives counterparties and their credit worthiness
Assessment of credit worthiness of main guarantors is determined and monitored in accordance with
the lending and intelligence procedures of the Bank.
38
54,296,263
2,920,935
6,057,633
17,833
1,255,520
14,795,795
52,673,393
28,287,401
34,871,840
357,009
10,476,838
-
58,859
4,671,824
559,155
215,047
12,162
-
826,049
-
5,913,691
205,848,685
11,592,513
826,049
Other/ Guarantees
Financial
Physical and credit
Amount Guarantees Guarantees derivatives
39
51,627,779
2,962,704
4,810,208
19,276
1,053,325
15,420,064
48,245,645
24,720,962
32,867,468
240,075
12,534,696
-
63,400
7,032,378
514,692
199,482
15,115
-
634,888
-
6,088,226
195,760,944
12,654,551
634,888
VII.
SEGMENT REPORTING
The Bank operates in corporate, commercial, small business, retail and investment banking.
Accordingly, the banking products served to customers are; time and demand deposit, accumulating
account, repos, overdraft facilities, spot loans, foreign currency indexed loans, consumer loans,
automobile and housing loans, working capital loans, discounted bills, gold loans, foreign currency
loans, eximbank loans, pre-export loans, ECA covered financing, letters of guarantee, letters of credit,
export factoring, acceptance credits, draft facilities, forfaiting, leasing, insurance, forward, futures,
salary payments, investment account, cheques, safety boxes, bill payments, tax collections, payment
orders.
The Bank provides service packages to its corporate, commercial and retail customers including
deposit, loans, foreign trade transactions, investment products, cash management, leasing, factoring,
insurance, credit cards, and other banking products. A customer-oriented branch network was built in
order to serve customers needs effectively and efficiently.
Additionally, the Bank provides small business banking service to enterprises in retail and service
sectors. Products include overdraft accounts, POS machines, credit cards, cheque books, TL and
foreign currency deposits, investment accounts, internet banking and call-center, debit card, and bill
payment.
Retail banking customers form a wide-spread and sustainable deposit base for the Bank. Individual
customers needs are met by diversified consumer banking products through branches and alternative
delivery channels.
40
Corporate
Banking
Investment
Banking
Other
Total
Operations
991,120
991,120
550,013
550,013
441,107
148,215
-
1,609,876
1,609,876
750,655
750,655
859,221
80,464
-
427,201
2,186
423,477
1,538
472,802
47,095
67,162
174,917
134,970
48,658
(45,601)
59,378
62,130
-
971
971
15,535
15,535
(14,564)
279,257
3,029,168
2,600,996
2,186
423,477
1,538
971
1,789,005
1,347,763
67,162
174,917
134,970
64,193
1,240,163
228,679
59,378
62,130
279,257
96,370
492,952
492,952
189,648
750,037
750,037
11,543
64,364
64,364
151,833
855,312
(742,452)
(130,274)
(872,726)
449,394
855,312
564,901
(130,274)
434,627
SEGMENT ASSETS
Securities Portfolio
Derivative financial assets held for trading purpose
Banks and Receivables From Money Markets
Investments in Associates and Subsidiaries
Loans
Other Assets
34,145,521
-
78,700,078
-
23,802,348
583,032
4,198,216
1,705,452
20,386,923
4,840,382
23,802,348
583,032
4,198,216
1,705,452
112,845,599
25,227,305
TOTAL ASSETS
34,145,521
78,700,078
50,675,971
4,840,382
168,361,952
39,078,799
55,676,402
4,905,020
99,660,221
291,237
15,678,845
15,167,737
10,904,278
4,054,200
-
4,917,336
2,769,244
14,918,854
291,237
15,678,845
15,167,737
10,904,278
8,971,536
2,769,244
14,918,854
39,078,799
55,676,402
51,001,317
22,605,434
168,361,952
Current Period
OPERATING INCOME/ EXPENSES
Interest Income
Interest income from loans
Interest income from reserve deposits
Interest income from securities portfolio
Interest income from banks
Interest income from money market transactions
Other interest income
Interest Expense
Interest expense on deposits
Interest expense on funds borrowed
Interest expense on money market transactions
Interest expense on securities issued
Other interest expenses
Net Interest Income
Net Fees and Commissions Income
Trading Income/ Losses (Net)
Dividend Income
Other Income
Provision For Losses on Loans and Other
Receivables
Other Expenses
Profit Before Taxes
Provision for taxes
Net Profit/ Loss
SEGMENT LIABILITIES
Deposits
Derivative Financial Liabilities Held for Trading
Purpose
Interbank Money Market
Funds Borrowed
Securities Issued
Other Liabilities
Provisions and Tax Liabilities
Equity
TOTAL LIABILITIES AND EQUITY
41
Prior Period
OPERATING INCOME/ EXPENSES
Interest Income
Interest income from loans
Interest income from securities portfolio
Interest income from banks
Interest income from money market transactions
Other interest income
Interest Expense
Interest expense on deposits
Interest expense on funds borrowed
Interest expense on money market transactions
Interest expense on securities issued
Other interest expenses
Net Interest Income
Net Fees and Commissions Income
Trading Income/ Losses (Net)
Dividend Income
Other Income
Provision For Losses on Loans and Other
Receivables
Other Expenses
Profit Before Taxes
Provision for taxes
Net Profit/ Loss
SEGMENT ASSETS
Securities Portfolio
Derivative financial assets held for trading purpose
Banks and Receivables From Money Markets
Investments in Associates and Subsidiaries
Loans
Other Assets
TOTAL ASSETS
SEGMENT LIABILITIES
Deposits
Derivative Financial Liabilities Held for Trading
Purpose
Interbank Money Market
Funds Borrowed
Securities Issued
Other Liabilities
Provisions and Tax Liabilities
Equity
TOTAL LIABILITIES AND EQUITY
Corporate Investment
Banking
Banking
Other
Total
Operations
801,686
801,686
489,397
489,397
312,289
103,776
-
1,354,875
1,354,875
758,162
758,162
596,713
41,329
-
552,504
550,391
2,022
91
364,534
38,776
227,581
98,177
187,970
72,326
64,956
-
958
958
38,782
38,782
(37,824)
224,003
2,710,023
2,156,561
550,391
2,022
91
958
1,650,875
1,247,559
38,776
227,581
98,177
38,782
1,059,148
145,105
72,326
64,956
224,003
72,853
343,212
343,212
211,864
426,178
426,178
49,272
275,980
275,980
41,955
733,642
(589,418)
(82,338)
(671,756)
375,944
733,642
455,952
(82,338)
373,614
32,952,925
32,952,925
71,630,592
71,630,592
23,177,890
380,195
2,570,620
1,736,982
20,860,935
48,726,622
4,907,587
4,907,587
23,177,890
380,195
2,570,620
1,736,982
104,583,517
25,768,522
158,217,726
36,352,846
50,532,382
4,871,740
91,756,968
250,252
16,385,302
14,927,048
10,457,757
2,341,732
-
250,252
16,385,302
14,927,048
10,457,757
6,774,193
2,894,456
36,352,846
50,532,382
4,432,461
2,894,456
14,771,75
0
49,233,831 22,098,667
42
14,771,750
158,217,726
SECTION FIVE
DISCLOSURE AND FOOTNOTES ON UNCONSOLIDATED FINANCIAL STATEMENTS
I.
Cash
Central Bank of Turkey (*)
Others
Total
(*)
Current Period
TL
FC
1,005,190
247,150
1,040,242
18,795,954
86,316
4,120
2,131,748
19,047,224
Prior Period
TL
FC
1,008,203
362,556
3,055,674
17,385,018
62,451
11,077
4,126,328
17,758,651
TL 17,918,197 (31 December 2014: TL 16,156,471) of the foreign currency deposit at Central Bank of
Turkey consists of foreign currency reserve deposits.
In accordance with Announcement on Reserve Deposits of CBT numbered 2005/1, all banks
operating in Turkey shall provide a reserve rate ranging from 5% to 11.5% (31 December 2014:
ranging from 5% to 11.5%). For foreign currency liabilities, all banks shall provide a reserve rate
ranging from 6% to 20% in US Dollar or Euro (31 December 2014: ranging from 6% to 13%).
According to 2014-72 numbered and 21 October 2014 dated announcement of Central Bank of
Turkey, interest has started to be paid for Turkish Lira reserve deposit beginning from November
2014.
Balances with the Central Bank of Turkey
Unrestricted Demand
Deposits
Unrestricted Time Deposits
Restricted Time Deposits
Reserve Deposits
Total
2.
TL
Current Period
FC
TL
Prior Period
FC
1,038,027
29
2,186
1,040,242
877,757
17,918,197
18,795,954
3,054,416
3
1,255
3,055,674
1,228,547
16,156,471
17,385,018
None.
43
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Forward Transactions
Swap Transactions
Futures
Options
Others
Current Period
TL
FC
9,727
2,569
489,558
73,732
325
7,121
-
Total
499,610
3.
Current Period
Prior Period
Information on banks
TL
FC
TL
FC
119,490
4,078,726
14,733
2,555,887
119,490
14,733
348,007
Foreign
4,078,723
2,207,880
119,490
4,078,726
14,733
2,555,887
Banks
Domestic
Total
4.
83,422
Prior Period
TL
FC
3,616
474
338,329
31,410
530
5,217
342,475
37,101
Share Certificates
Bonds, Treasury Bills and Similar Marketable
Securities
Others
Total
44
Current Period
TL
FC
1,456,447
1,456,447
354,390
354,390
Prior Period
TL
FC
1,624,464
1,624,464
354,106
354,106
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Government Bonds
Treasury Bills
Other Debt Securities
Bonds Issued or Guaranteed by Banks
Asset Backed Securities
Total
FC
3,176,489
3,176,489
Prior Period
TL
8,668,579
8,668,579
FC
3,132,480
3,132,480
Debt securities
Quoted
Unquoted
Equity securities
Quoted
Unquoted
Provision for impairment on available-forsale financial assets (-)
Total
5.
Current Period
16,991,973
16,991,973
15
15
Prior Period
16,351,196
16,351,196
15
15
60,713
16,931,275
27,914
16,323,297
Information on loans
Information on all types of loans and advances given to shareholders and employees of the Bank
Current Period
Cash Non-Cash
Direct loans provided to the shareholders
Legal entities
Real persons
Indirect loans provided to the shareholders
Loans provided to the employees
Total
45
89,890
89,890
9,999
9,999
9,999
Prior Period
Cash Non-Cash
86,082
86,082
10,174
10,174
10,174
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Cash Loans
Non-specialialized
loans
Loans given to
enterprises
Export loans
Import loans
Loans given to
financial sector
Consumer loans
Credit cards
Other
Specialized lending
Other receivables
Total
Agreement conditions
modified
Payment plan
extensions
Other
106,361,745
720,504
4,509,409
893,887
34,110,882
4,639,882
-
464,206
-
1,361,797
101,231
-
569,917
5,776
-
2,868,078
28,631,049
4,156,558
31,955,296
3,045
106,364,790
256,298
720,504
200
1,656,323
337,338
1,052,520
4,509,409
264,859
8,869
44,466
893,887
Information related to the changes in the payment plans of loans and other receivables:
Standard Loans and Other
Receivables (*)
Number of modifications to extend payment plans
720,504
-
626,192
-
2,155
276
9,232
493,447
215,394
4
100
6,297
197,452
422,339
The above tables include the change in the payment plans of standard and under close
monitoring loans and other receivables after 28 May 2011.
46
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Total
362,162
6,717
4,459
350,986
3,079,709
1,295,903
1,783,806
6,235
6,235
2,985
53
2,932
44,007
18,241
25,766
182
182
28,845,543
14,563,425
407,028
13,875,090
92,785
63,122
29,663
42,557
42,557
159
130
29
-
29,207,705
14,570,142
411,487
14,226,076
3,172,494
1,359,025
1,813,469
6,235
6,235
45,542
53
45,489
44,166
18,371
25,795
182
182
1,555,209
1,555,209
73
5,050,562
28,981,044
73
34,031,606
Consumer Loans TL
Housing Loans
Automobile Loans
General Purpose Loans
Other
Consumer Loans FC indexed
Housing Loans
Automobile Loans
General Purpose Loans
Other
Consumer Loans FC
Housing Loans
Automobile Loans
General Purpose Loans
Other
Retail Credit Cards TL
With Installment
Without Installment
Retail Credit Cards FC
With Installment
Without Installment
Personnel Loans TL
Housing Loan
Automobile Loans
General Purpose Loans
Other
Personnel Loans FC indexed
Housing Loans
Automobile Loans
General Purpose Loans
Other
Personnel Loans FC
Housing Loans
Automobile Loans
General Purpose Loans
Other
Personnel Credit Cards TL
With Installment
Without Installment
Personnel Credit Cards FC
With Installment
Without Installment
Overdraft Checking Accounts TL
(Real persons)
Overdraft Checking Accounts FC
(Real persons)
Total
47
Short-Term
Total
923,034
21,645,388
22,568,422
102
630,847
630,949
36,300
1,688,584
1,724,884
886,632
19,325,957
20,212,589
33,798
922,335
956,133
33,798
922,335
956,133
4,438,557
4,438,557
4,438,557
4,438,557
1,279,229
195
1,279,424
508,270
195
508,465
770,959
770,959
264
264
264
264
787,517
787,517
3,023,842
27,006,475
30,030,317
Domestic Loans
Overseas Loans
Total
Current Period
Prior Period
112,262,295
104,145,709
226,295
197,733
112,488,590
104,343,442
48
Current Period
Prior Period
95,817
-
74,105
-
95,817
74,105
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current Period
Prior Period
89,511
402,138
3,321,674
3,813,323
60,286
546,295
3,127,716
3,734,297
Group IV
Group V
Loans and
receivables with
doubtful Uncollectible loans
collectability
and receivables
41,908
84,352
77,207
41,908
84,352
77,207
34,563
92,576
82,945
34,563
92,576
82,945
Group IV
Group V
Loans and
receivables with
doubtful Uncollectible loans
collectability
and receivables
300,361
387,384
546,295
2,135
3,127,716
5,846
165,411
282,720
206,426
34,799
446,520
89,511
357,009
276,309
35,394
402,138
402,138
-
(11,665)
106,273
3,321,674
3,321,674
-
Loans that are transferred from restructured loans to non-performing loans and from non-performing loans
to restructured loans are presented in the Transfers from and to other categories of loans under follow-up
lines.
Uncollectible loans and receivables are collected by liquidation of collaterals and legal follow-up.
49
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Group IV
Group V
Loans and
receivables with
limited
collectability
Loans and
receivables with
doubtful
collectability
Uncollectible
loans and
receivables
Current Period
Balance at the end of the period
Specific provision (-)
Net balance on balance sheet
5,187
1,037
4,150
7,773
7,773
-
241,728
241,728
-
Prior Period
Balance at the end of the period
Specific provision (-)
Net balance on balance sheet
7,681
1,536
6,145
2,907
2,907
-
244,100
244,100
-
50
Group IV
Group V
Loans and
receivables
with doubtful Uncollectible loans
collectability
and receivables
396,012
3,258,906
396,012
3,258,906
1,551
1,551
6,126
61,217
6,126
61,217
-
240,075
297,145
59,643
237,502
3,216
643
2,573
539,926
539,926
6,369
6,369
-
3,067,758
3,067,758
1,551
1,551
58,407
58,407
-
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
6,767,024
6,767,024
Prior Period
TL
FC
6,761,749
6,761,749
Prior Period
6,875,177
6,771,128
104,049
4,104
6,871,073
6,860,448
6,767,604
92,844
5,855
6,854,593
Prior Period
6,854,593
11,200
99,800
(107,478)
1,751
11,207
6,871,073
5,403,815
7,990
2,924,991
(1,764,546)
51,505
230,838
6,854,593
Differences in the amortized costs of the marketable securities are included in this column.
Current Period
Collateralized/blocked investment securities
Investments subject to repurchase agreements
Held for structural position
Receivable from security borrowing markets
Collateral for security borrowing markets
Others (*)
Total
51
Cost
FC
TL
Carrying Value
TL
FC
826,120
104,000
862,166
104,049
5,455,212
5,817,109
83,320
87,749
6,364,652
104,000
6,767,024
104,049
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Cost
TL
FC
Carrying Value
TL
FC
931,961
92,800
972,002
92,844
5,289,597
150,772
6,372,330
92,800
5,629,267
160,480
6,761,749
92,844
(*)
The securities held as free that are not subject to collateral/blockage or other transactions are
presented in the Others line.
7.
1
2
3
4
5
6
7
8
9
10
Associate
Kbrs Vakflar Bankas Ltd. (*)
Trkiye Snai Kalknma Bankas A (**)
Roketsan Roket Sanayi ve Ticaret A (*)
Bankalararas Kart Merkezi A
Kredi Kayt Brosu A (*)
Gbirlii Holding A (*)
zmir Enternasyonel Otelcilik A (*)
stanbul Takas ve Saklama Bankas A (*)
Kredi Garanti Fonu A (*)
World Vakf UBB Ltd. In Liquidation
Total
Assets
1
2
3
4
5
6
7
8
9
10
(*)
(**)
Address
(City/ Country)
822,625
17,911,667
2,557,640
51,800
115,240
131,827
103,033
5,495,623
280,776
1,387
Tangible
Equity
Assets
66,941
2,395,866
607,159
28,337
91,597
(14,638)
18,507
808,244
256,586
(64,482)
9,656
302,076
454,120
34,030
59,454
88,016
91,434
23,363
1,001
-
Banks Share
If Different,
Voting Rights
(%)
Banks Risk
Group Share
(%)
15.00
15.00
8.38
8.38
9.93
9.93
9.70
9.70
9.09
9.09
0.07
0.07
5.00
5.00
4.37
4.37
Lefkosa/NCTR
stanbul/Turkey
Ankara/Turkey
stanbul/Turkey
stanbul/Turkey
zmir/Turkey
stanbul/Turkey
stanbul/Turkey
Ankara/Turkey
Lefkosa/NCTR
Interest
Income
62,408
165,138
15,167
210
4,246
453
11
155,165
14,343
-
1.75
1.75
82.00
85.24
Income on
Current
Securities
Period Prior Period
Portfolio Profit/Loss Profit/Loss
8,036
74,361
24,158
-
11,969
97,992
206,196
2,500
21,834
(8,600)
(5,610)
121,492
11,812
(1,554)
758
98,819
129,899
3,047
32,665
(5,972)
(12,745)
81,809
9,692
(1,282)
Companys
Fair Value
3,015,453
-
The financial statements for these associates as at and for the year ended 31 December 2014 are presented.
Figures are obtained from audited financial statements as at and for the period ended 31 March 2015
disclosed in Public Disclosure Platform.
52
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current Period
305,469
(634)
21,453
(22,087)
304,835
-
Prior Period
245,523
59,946
19,985
39,961
305,469
-
In the current period, subsequent to the approval of the decision to increase the paid-in capital of
Trkiye Snai Kalknma Bankas A from TL 1,500,000 to TL 1,750,000 in the Ordinary Meeting of
General Assembly of the Company dated 26 March 2015, the share of the Bank amounting to TL
20,944 is presented in the movement table of investments in associates as bonus shares received.
In the current period, subsequent to the approval of the decision of the capital of Kredi Garanti Fonu
A.. in the Ordinary Meeting of General Assembly of the Company dated 31 March 2015, an
associate of the Bank, has been increased from TL 240,000 to TL 278,439, TL 29,000 is paid from
companys own resources and TL 9,439 is paid cash by two new shareholders and registered to
commercial register on 10 April 2015. After the capital increase, Banks current nominal share has
been increased from TL 4,211 to TL 4,719 by a bonus increase of TL 509 and Banks share
percentage will be decreased from 1.75% to 1.69% after the involvement of two shareholders as at 10
April 2015. The share of the Bank amounting to TL 509 is presented as bonus shares received in the
movement table of investments in associates.
In the prior period, subsequent to the approval of the decision of the capital of stanbul Takas ve
Saklama Bankas in the Ordinary Meeting of General Assembly of the Company dated 28 March
2014, an associate of the Bank, has been increased from TL 420,000 to TL 600,000, TL 120,000 has
been paid from bonus shares and TL 60,000 has been paid in cash amounting to TL 180,000 in total.
The share of the Bank amounting to TL 3,230 is presented as bonus shares received in the movement
table of investments in associates. The stock right in cash capital commitment has been removed
related to the capital increase and Banks share percentage has been decreased from 4.86% to 4.37%.
In the prior period, subsequent to the approval of the decision to increase the paid-in capital of
Trkiye Snai Kalknma Bankas A from TL 1,300,000 to TL 1,500,000 in the Ordinary Meeting of
General Assembly of the Company dated 27 March 2014, the share of the Bank amounting to TL
16,755 is presented in the movement table of investments in associates as bonus shares received.
The title of World Vakf Off Shore Banking Ltd, a subsidiary of the Bank, was changed as World
Vakf UBB. Ltd. on 4 February 2009. Pursuant to the 4 March 2010 dated and 764 numbered decision
of Board of Directors of Central Bank of Turkish Republic of Northern Cyprus, the official
authorisation of World Vakf UBB Ltd., operating in NCTR, is abrogated due to incompliance with
the 7th and 9th articles of 41/2008 numbered Law of International Banking Units. According to
24 May 2010 dated decision of the Nicosia Local Court, World Vakf UBB Ltd. will be liquidated and
NCTR Company Registrar is appointed to carry out liquidation process. In year 2010, due to loss of
control over Company, World Vakf UBB Ltd. has been reclassified Investments in associates.
The liquidation process of World Vakf UBB Ltd, an associate of the Bank, has been carried out by
NCTR Collecting and Liquidation Office. The application of the company for cancellation of the
liquidation has been rejected and the decision of liquidation has been agreed on 27 August 2013.
Thus, the companys title has been changed as World Vakf UBB Ltd in Liquidation.
53
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Banks
Insurance companies
Factoring companies
Leasing companies
Finance companies
Other associates
Total
Current Period
288,716
4,719
293,435
Prior Period
289,858
4,211
294,069
Current Period
Prior Period
253,838
253,838
Quoted associates
252,695
-
252,695
54
Investments in subsidiaries
114,483
-
Gne
Sigorta A
Vakf
Emeklilik A
Vakf Portfy
Ynetimi A
Vakf
Gayrimenkul
Yat. Ort. A
Vakf Menkul
Kymet Yat. Ort.
A
22,273
65,000
353
2,711
35,000
137
36,611
22,400
29,228
-
150,000
1,448
179,635
26,500
10,424
729
3,000
-
203,320
246,731
21,973
-
20,000
93
-
17,734
7,237
127,486
116,730
82,898
33,832
388,209
3,890
36,846
(68)
(3,863)
(3,863)
102
104,971
5,455
3,788
2,146
4,640
810
3,830
87,777
4,988
32,280
2,804
(8,962)
11,766
91,700
59
17,179
19,247
(3,008)
(144,925)
(124,742)
(20,183)
237,369
191
15,921
33,816
(1,918)
86,016
41,213
44,803
171,679
872
6,022
17
2,561
2,561
12,472
3,639
54,773
10
21,855
21,855
552,301
395
2
(2,492)
(2,509)
17
17,998
388,209
388,209
104,971
104,971
87,777
87,777
91,700
91,700
237,369
237,369
171,679
171,679
12,472
12,472
552,301
552,301
17,998
17,998
The financial statements as at and for the year ended 31 December 2014 are presented.
55
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
1
2
3
4
5
6
7
8
9
10
11
12
13
Subsidiary
Gne Sigorta A (**)
Vakf Emeklilik A
Vakf Finans Factoring Himetleri A
Vakf Finansal Kiralama A (**)
Vakf Yatrm Menkul Deerler A (*)
Vakfbank International AG
Vakf Portfy Ynetimi A
Vakf Menkul Kymet Yatrm Ortakl A (**)
Vakf Gayrimenkul Yatrm Ortakl A (**)
Vakf Enerji ve Madencilik A (*)
Taksim Otelcilik A (*)
Vakf Pazarlama Sanayi ve Ticaret A (*)
Vakf Gayrimenkul Deerleme A (*)
Total
Assets
1
2
3
4
5
6
7
8
9
10
11
12
13
(*)
(**)
Address
(City / Country)
1,374,777
3,395,347
727,784
1,281,290
362,296
3,040,072
13,683
18,077
561,565
18,998
351,896
47,990
33,906
Tangible
Equity
Assets
171,682
168,269
93,879
109,050
87,777
387,695
12,580
17,742
559,444
7,903
345,151
40,368
29,779
493,502
88,882
2,639
5,082
303
636
264
50
170,056
1,065
189,791
653
535
36.35
53.90
78.39
58.71
99.00
90.00
100.00
22.89
38.70
65.50
51.00
69.33
54.29
36.35
75.30
86.97
64.40
99.44
90.00
100.00
32.91
40.64
84.92
51.52
74.98
58.54
stanbul/TURKEY
stanbul/ TURKEY
stanbul/ TURKEY
stanbul/ TURKEY
stanbul/ TURKEY
Vienna/AUSTRIA
stanbul/ TURKEY
stanbul/ TURKEY
stanbul/ TURKEY
Ankara/ TURKEY
stanbul/ TURKEY
stanbul/ TURKEY
Ankara/ TURKEY
Interest
Income
Income on
Securities
Portfolio
6,537
6,287
16,444
22,842
16,245
17,770
298
164
7,776
581
10,742
2,828
2,504
180
64
489
4,240
7
205
154
1,272
188
Current
Period Prior Period Companys Fair
Profit/(Loss) Profit/(Loss)
Value
(52,484)
3,787
2,180
3,952
3,830
10,772
701
(268)
7,109
(711)
5,817
3,861
6,994
10,054
4,140
(192)
243
5,979
7,612
2,561
(187)
1,041
(32)
1,911
3,420
7,155
334,493
527,618
83,267
68,309
79,971
356,805
46,339
19,159
506,356
14,000
356,734
45,635
36,000
The financial statements for these subsidiaries as at and for the year ended 31 December 2014 are presented.
Figures are obtained from financial statements as at and for the period ended 31 March 2015 disclosed in
Public Disclosure Platform.
56
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current Period
1,431,513
(30,896)
4,605
(26,186)
(4,733)
(4,582)
1,400,617
Prior Period
1,365,470
66,043
205,713
(34,017)
(107,850)
2,197
1,431,513
Current Period
-
1,400,617
Prior Period
1,431,513
1,431,513
Current Period
405,975
321,124
65,273
40,104
325,855
1,158,331
Prior Period
402,768
321,124
65,273
45,149
353,283
1,187,597
Current Period
362,037
362,037
Prior Period
378,037
378,037
1,400,617
-
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Investments in joint-ventures
None.
10. Information on finance lease receivables (net)
None.
11. Information on hedging purpose derivatives
Positive differences on derivative financial instruments held for risk management purposes
None.
12. Information on investment properties
None.
58
DISCLOSURE
(Continued)
I.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current period
172,728
Prior Period
227,132
83,383
26,731
23,456
26,073
11,112
1,973
81,013
28,083
23,456
82,413
10,131
2,036
(122,281)
(84,620)
(37,661)
50,447
(154,695)
(114,636)
(40,059)
72,437
14. Information on assets held for sale and assets related to the discontinued operations
As at 31 March 2015 assets held for sale and assets related to the discontinued operations amount to
TL 780,089 (31 December 2014: TL 745,883)
15. Information on other assets
As at 31 March 2015 and 31 December 2014 other assets are as follows:
59
Current period
688,399
713,055
280,560
486,678
64,049
128,991
2,361,732
Prior Period
772,007
617,476
193,605
351,579
68,664
212,142
2,215,473
DISCLOSURE
(Continued)
II.
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current Period
Saving Deposits
Foreign Currency
Deposits
Residents in Turkey
Residents in Abroad
Public Sector Deposits
Commercial Deposits
Others
Precious Metal
Deposits
Bank Deposits
Central Bank
Domestic Banks
Foreign Banks
Participation Banks
Others
Total
Prior Period
Saving Deposits
Foreign Currency
Deposits
Residents in Turkey
Residents in Abroad
Public Sector Deposits
Commercial Deposits
Others
Precious Metal
Deposits
Bank Deposits
Central Bank
Domestic Banks
Foreign Banks
Participation Banks
Others
Total
AND
Demand
7 Days
Notice
Up to 1
Month
1-3 Months
3-6 Months
6-12
Months
1 Year
and Over
Accumulating
Deposit Accounts
Total
4,191,615
532,917
18,607,650
1,197,100
325,690
134,759
24,989,731
4,033,572
3,814,994
218,578
3,802,475
2,029,276
3,278,705
2,570,522
2,567,651
2,871
2,336,260
5,827,502
1,050,713
14,034,685
13,858,710
175,975
6,519,653
10,214,673
2,864,514
1,558,413
1,351,125
207,288
682,697
300,461
268,580
867,647
590,397
277,250
3,586,179
251,213
98,085
2,848,245
799,035
2,049,210
195,552
4,823
26,909
25,913,084
22,981,912
2,931,172
17,122,816
18,627,948
7,587,506
514,116
163,727
632
4,465
155,829
2,801
-
3,299,524
3,033,553
265,971
-
1,147,015
802,097
344,918
-
104,008
104,008
-
173,465
28,914
144,551
-
17,281
17,281
-
514,116
4,905,020
632
3,886,310
1,015,277
2,801
-
18,013,486
15,617,438
53,388,190
4,111,259
5,302,279
3,227,569
99,660,221
Demand
7 Days
Notice
Up to 1
Month
1-3 Months
3-6 Months
6-12
Months
1 Year
and Over
Accumulating
Deposit Accounts
Total
3,715,353
463,572
18,032,423
1,393,667
328,345
136,781
24,070,141
3,234,204
3,056,529
177,675
3,583,281
2,157,535
3,208,185
2,197,700
2,195,602
2,098
2,370,191
4,622,420
1,102,804
11,340,861
11,162,513
178,348
5,695,639
10,102,792
2,747,775
1,411,649
1,193,080
218,569
437,138
430,016
380,429
759,201
494,191
265,010
2,788,470
233,506
98,701
2,828,588
794,731
2,033,857
190,212
5,478
29,638
21,772,203
18,896,646
2,875,557
15,064,931
17,551,747
7,567,532
854,355
59,910
424
2,094
53,763
3,629
-
3,599,082
3,288,392
310,690
-
1,086,606
422,069
664,537
-
80,387
2,016
78,371
-
33,206
33,206
-
16,868
16,868
-
854,355
4,876,059
424
3,764,645
1,107,361
3,629
-
16,812,823
14,355,769
49,006,096
4,133,286
4,241,429
3,207,565
91,756,968
60
DISCLOSURE
(Continued)
II.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Saving Deposits
Foreign Currency Saving Deposits
Other Saving Deposits
Foreign branches Deposits Under Foreign
Insurance Coverage
Off-Shore Deposits Under Foreign Insurance
Coverage
Total
Covered by
Deposit Insurance Fund
Current
Period Prior Period
13,998,082
12,652,145
3,991,968
3,846,786
-
Exceeding the
Deposit Insurance Limit
Current
Period Prior Period
10,991,649
11,417,996
10,097,100
8,435,919
-
17,990,050
16,498,931
21,088,749
19,853,915
2.
Current Period
28,964
Prior Period
21,061
5,062
3,905
Negative differences related to the derivative financial liabilities held for trading purpose
Forward Transactions
Swap Transactions
Futures
Options
Total
61
Current Period
Prior Period
TL
9,100
92,404
464
101,968
TL
3,209
50,567
457
54,233
FC
2,526
179,789
6,954
189,269
FC
458
190,324
5,237
196,019
DISCLOSURE
(Continued)
II.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
TL
139,471
748,467
887,938
Prior Period
FC
91,169
13,947,941
14,039,110
669,014
1,874
670,888
FC
7,341,451
7,155,398
14,496,849
Prior period
TL
FC
867,372
7,312,287
20,566
6,726,823
887,938
14,039,110
Funds borrowed comprise syndication and securitization loans bearing various interest rates and
maturities and account for 9.88% (31 December 2014: 10.41%) of the Banks liabilities. There is no
risk concentration on funding sources of the Bank.
On 16 April 2014, Bank has obtained syndicated loan at the amount of US Dollar 270,5 million and
Euro 525 million with the interest rate of US Libor +0.90% and Euribor +0.90% at a maturity of one
year, with participation of 35 banks with the coordination of Wells Fargo Bank N.A., London Branch
and Sumitomo Mitsui Banking Corporation, Brussels Branch acting as agent. On 17 April 2015, the
loan has been renewed with a new syndicated loan amounting to US Dollar 204 million and Euro 763
million with the interest rate of US Libor +0.8% and Euribor +0.8% at a maturity of 367 days with
participation of 35 banks, Wells Fargo Bank, N.A., London Branch acting as coordinator and agent
bank.
On 20 September 2013, the Bank has obtained syndicated loan at the amount of US Dollar 166 million
and Euro 471 million with the interest rate of US Libor + 0.75% and Euribor + 0.75% at a maturity of
one year, with the participation of 27 banks with the coordination and agency of ING Bank N.V.
London. On 22 September 2014, the loan has been renewed with a new syndicated loan amounting to
US Dollar 168,5 million and Euro 528,75 million with interest rates of US Libor + 0.90% and Euribor
+ 0.90% at a maturity of one year, with the participation of 26 banks, ING Bank, London Branch
acting as coordinator and agent bank.
On 19 December 2014, the Bank has obtained securitization loan at the amount of US Dollar 928,6
million related to foreign transfers and treasury transactions in Euro and US Dollar. Loan at the
amount of US Dollar 500 million has been obtained related to foreign transfers at a maturity of five
years and loan at the amount of US Dollar 428,6 million has been obtained related to treasury
transactions at a maturity of seven years in seven different segments in total.
The loan obtained from European Bank for Reconstruction and Development Bank (EBRD) at the
amount of US Dollar 125 million in 2014-A segment in order to finance medium term loans including
to meet the needs of agricultural enterprises and support woman entrepreneurs.
62
DISCLOSURE
(Continued)
II.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Nominal
Cost
Net Book Value
Current period
TL
FC
2,729,778
8,113,105
2,623,471
8,071,887
2,682,883
8,221,395
63
Prior period
TL
FC
2,978,797
7,500,392
2,860,066
7,462,478
2,913,190
7,544,567
DISCLOSURE
(Continued)
II.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current Period
ISIN Code
TRQVKFB81526
TRQVKFB81534
TRQVKFBE1510
TRQVKFB41512
TRQVKFB41520
TRQVKFB51529
TRQVKFB61510
TRQVKFB51511
TRQVKFB81518
TRQVKFB51537
TRQVKFB81542
TRQVKFB81559
TRQVKFB51545
TRQVKFB91517
US90015NAA19
XS0916347759
XS0987355939
XS1069999610
XS1113320888
XS1115283571
XS1118030300
XS1118051215
XS1118053005
XS1121229741
XS1121307307
XS1124128320
XS1124325074
XS1126276697
XS1129857782
XS1130031039
XS1130490227
XS1132341485
XS1132341568
XS1132440386
XS1135135272
XS1138701500
XS1139114257
XS1143013297
XS1143372008
XS1170287558
XS1175833687
XS1186372329
XS1186715626
XS1188094160
XS1190637956
XS1190638178
XS1190648136
XS1190980174
XS1193799621
XS1193799977
XS1193942957
XS1193943096
XS1193943179
XS1196725623
XS1196730383
XS1197016865
XS1199943652
XS1199943736
XS1199953883
XS1204237116
XS1204545799
XS1207315307
XS1207487189
XS1208576493
XS1210395833
XS1210448038
XS1063444001
XS1077629225
XS1203859506
XS1203859688
XS1203880023
XS1204187261
XS1207605483
Total
Currency
Type
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
Issue Date
24.10.2014
21.11.2014
13.02.2015
02.05.2014
24.10.2014
21.11.2014
13.03.2015
06.06.2014
22.08.2014
12.12.2014
12.12.2014
13.02.2015
16.01.2015
13.03.2015
24.04.2012
15.04.2013
31.10.2013
21.05.2014
24.09.2014
30.09.2014
09.10.2014
08.10.2014
08.10.2014
15.10.2014
15.10.2014
17.10.2014
20.10.2014
23.10.2014
24.10.2014
28.10.2014
30.10.2014
03.11.2014
04.11.2014
05.11.2014
05.11.2014
18.11.2014
18.11.2014
24.11.2014
25.11.2014
20.01.2015
28.01.2015
10.02.2015
10.02.2015
10.02.2015
17.02.2015
17.02.2015
17.02.2015
17.02.2015
24.02.2015
24.02.2015
24.02.2015
24.02.2015
24.02.2015
03.03.2015
03.03.2015
02.03.2015
10.03.2015
10.03.2015
10.03.2015
17.03.2015
18.03.2015
23.03.2015
24.03.2015
24.03.2015
31.03.2015
31.03.2015
Maturity Date
07.08.2015
07.08.2015
09.10.2015
17.04.2015
17.04.2015
15.05.2015
05.06.2015
29.05.2015
07.08.2015
15.05.2015
07.08.2015
07.08.2015
15.05.2015
04.09.2015
24.04.2017
15.04.2018
31.10.2018
20.05.2015
23.09.2015
07.10.2015
08.10.2015
02.04.2015
17.04.2015
26.10.2015
16.04.2015
16.04.2015
20.04.2015
23.10.2015
28.04.2015
27.04.2015
04.11.2015
30.04.2015
05.11.2015
07.05.2015
05.11.2015
27.05.2015
18.05.2015
28.05.2015
27.05.2015
21.01.2016
28.07.2015
14.05.2015
07.08.2015
14.05.2015
20.05.2015
20.08.2015
13.08.2015
18.08.2015
27.08.2015
25.08.2015
27.08.2015
28.05.2015
28.05.2015
03.09.2015
03.03.2016
03.03.2016
02.09.2015
10.09.2015
10.09.2015
11.09.2015
11.09.2015
18.09.2015
24.06.2015
22.09.2015
08.10.2015
29.09.2015
Days to
Maturity
287
259
238
350
175
175
84
357
350
154
238
175
119
175
1,826
1,826
1,826
364
364
372
364
176
191
376
183
181
182
365
186
181
370
178
366
183
365
190
181
185
183
366
181
93
178
93
92
184
177
182
184
182
184
93
93
184
366
367
176
184
184
178
177
179
92
182
191
182
EUR
EUR
EUR
EUR
EUR
EUR
EUR
06.05.2014
17.06.2014
17.03.2015
17.03.2015
17.03.2015
17.03.2015
24.03.2015
06.05.2016
17.06.2019
17.09.2015
24.03.2016
17.09.2015
17.09.2015
22.09.2015
731
1,826
184
373
184
184
182
64
Nominal
94,589
27,488
2,819
12,492
725,815
234,835
582,261
36,378
44,013
160,971
14,579
452,604
114,515
226,419
1,300,000
1,560,000
1,300,000
13,000
16,120
10,400
31,200
82,160
13,000
10,400
62,400
70,200
65,000
130,000
62,920
91,000
11,700
33,800
13,520
36,400
130,000
20,800
104,000
58,760
91,000
65,000
26,000
60,320
48,360
91,000
44,200
25,480
23,400
54,600
18,720
46,280
28,600
44,720
72,800
31,720
11,960
10,400
48,100
42,640
17,160
39,000
68,900
18,200
54,600
64,220
23,920
52,000
Cost
87,972
25,893
2,661
11,535
695,382
225,475
569,845
33,526
40,355
155,374
13,802
433,597
111,539
216,515
1,285,700
1,551,138
1,291,550
13,000
16,118
10,398
31,200
82,160
13,000
10,398
62,400
70,200
65,000
130,000
62,920
90,991
11,698
33,800
13,520
36,400
130,000
20,798
103,990
58,760
90,995
65,000
26,000
60,320
48,360
90,998
44,200
25,480
23,400
54,597
18,720
46,280
28,600
44,720
72,800
31,720
11,960
10,400
48,100
42,640
17,160
39,000
68,900
18,200
54,599
64,220
23,920
52,000
Net Book
Value
91,570
26,678
2,691
12,441
722,938
232,434
572,628
35,867
42,588
159,342
14,154
438,588
113,401
217,563
1,326,727
1,581,607
1,321,080
13,196
16,264
10,489
31,468
82,681
13,084
10,484
62,789
70,632
65,393
130,436
63,291
91,514
11,787
33,973
13,619
36,587
130,942
20,899
104,471
59,025
91,397
65,224
26,061
60,424
48,453
91,206
44,263
25,524
23,440
54,691
18,747
46,346
28,641
44,773
72,886
31,757
11,974
10,415
48,141
42,676
17,174
39,023
68,937
18,206
54,613
64,240
23,921
52,002
29,347
1,397,500
59,254
43,602
19,565
85,248
28,509
10,842,883
29,201
1,388,080
59,254
43,602
19,565
85,248
28,509
10,695,358
29,378
1,428,155
59,277
43,623
19,573
85,281
28,515
10,904,278
DISCLOSURE
(Continued)
II.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Prior Period
ISIN Code
TRQVKFB31521
TRQVKFB31539
TRQVKFB81526
TRQVKFB81534
TRQVKFB51529
TRQVKFB81542
TRQVKFB41520
TRQVKFB51537
TRQVKFB41512
TRQVKFB51511
TRQVKFB21514
TRQVKFB81518
TRQVKFB31513
US90015NAA19
XS0916347759
XS0987355939
XS1069999610
XS1084474862
XS1085714621
XS1087783269
XS1087831506
XS1089992686
XS1090076768
XS1091762812
XS1091766482
XS1096098030
XS1096471526
XS1097465766
XS1101735634
XS1101839170
XS1105745761
XS1107482306
XS1110657050
XS1112873176
XS1113320888
XS1115283571
XS1115485010
XS1117991213
XS1118030300
XS1118051215
XS1118053005
XS1121229741
XS1121307059
XS1121307307
XS1123043983
XS1124128320
XS1124141349
XS1124325074
XS1126276697
XS1129857782
XS1130031039
XS1130490227
XS1132341485
XS1132341568
XS1132440386
XS1135135272
XS1138701500
XS1139114257
XS1143013297
XS1143372008
XS1063444001
XS1077629225
Total
Security Type
Coupon Rate
Discounted
Discounted
Discounted
Discounted
Discounted
Discounted
Discounted
Discounted
Discounted
Discounted
Discounted
Discounted
Discounted
Fixed
5.75
Fixed
3.75
Fixed
5.00
Fixed
1.75
Fixed
0.73
Fixed
1.43
Fixed
1.45
Fixed
1.45
Fixed
1.40
Fixed
1.40
Fixed
1.40
Fixed
1.40
Fixed
1.40
Fixed
1.40
Fixed
1.40
Fixed
1.40
Fixed
1.40
Fixed
0.70
Fixed
1.38
Fixed
1.40
Fixed
1.40
Fixed
1.74
Fixed
1.73
Fixed
1.40
Fixed
1.10
Fixed
1.80
Fixed
1.35
Fixed
1.35
Fixed
1.78
Fixed
1.10
Fixed
1.35
Fixed
1.02
Fixed
1.35
Fixed
1.10
Fixed
1.35
Fixed
1.80
Fixed
1.35
Fixed
1.33
Fixed
1.79
Fixed
1.25
Fixed
1.80
Fixed
1.27
Fixed
1.80
Fixed
1.30
Fixed
1.24
Fixed
1.28
Fixed
1.25
Floating
3 Month-Euribor+2.15%
Fixed
3.50
Currency
Type
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
TL
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
USD
EUR
EUR
Issue Date
21.11.2014
12.12.2014
24.10.2014
21.11.2014
21.11.2014
12.12.2014
24.10.2014
12.12.2014
02.05.2014
06.06.2014
22.08.2014
22.08.2014
19.09.2014
24.04.2012
15.04.2013
31.10.2013
21.05.2014
03.07.2014
09.07.2014
14.07.2014
15.07.2014
22.07.2014
22.07.2014
25.07.2014
01.08.2014
08.08.2014
08.08.2014
13.08.2014
20.08.2014
21.08.2014
02.09.2014
09.09.2014
16.09.2014
23.09.2014
24.09.2014
30.09.2014
29.09.2014
08.10.2014
09.10.2014
08.10.2014
08.10.2014
15.10.2014
15.10.2014
15.10.2014
20.10.2014
17.10.2014
17.10.2014
20.10.2014
23.10.2014
24.10.2014
28.10.2014
30.10.2014
03.11.2014
04.11.2014
05.11.2014
05.11.2014
18.11.2014
18.11.2014
24.11.2014
25.11.2014
06.05.2014
17.06.2014
65
Maturity
Date
13.03.2015
13.03.2015
07.08.2015
07.08.2015
15.05.2015
07.08.2015
17.04.2015
15.05.2015
17.04.2015
29.05.2015
13.02.2015
07.08.2015
13.03.2015
24.04.2017
15.04.2018
31.10.2018
20.05.2015
07.01.2015
07.01.2015
08.01.2015
15.01.2015
15.01.2015
22.01.2015
22.01.2015
26.01.2015
05.02.2015
29.01.2015
18.02.2015
19.02.2015
17.02.2015
05.03.2015
12.03.2015
19.03.2015
26.03.2015
23.09.2015
07.10.2015
27.03.2015
08.01.2015
08.10.2015
02.04.2015
17.04.2015
26.10.2015
15.01.2015
16.04.2015
20.01.2015
16.04.2015
22.01.2015
20.04.2015
23.10.2015
28.04.2015
27.04.2015
04.11.2015
30.04.2015
05.11.2015
07.05.2015
05.11.2015
27.05.2015
18.05.2015
28.05.2015
27.05.2015
06.05.2016
17.06.2019
Days to
Maturity
112
91
287
259
175
238
175
154
350
357
175
350
175
1,826
1,826
1,826
364
188
182
178
184
177
184
181
178
181
174
189
183
180
184
184
184
184
364
372
179
92
364
176
191
376
92
183
92
181
97
182
365
186
181
370
178
366
183
365
190
181
185
183
731
1,826
Nominal
399,320
196,129
94,559
27,404
240,965
14,561
736,745
165,233
12,028
36,117
674,639
43,546
337,551
1,160,000
1,392,000
1,160,000
11,600
18,328
92,800
42,688
97,440
48,720
58,000
48,256
71,920
76,328
35,264
27,840
40,600
69,600
64,960
84,680
116,000
85,840
14,384
9,280
34,800
73,776
27,840
73,312
11,600
9,280
73,312
55,680
23,200
62,640
30,160
58,000
116,000
56,144
81,200
10,440
30,160
12,064
32,480
116,000
18,560
92,800
52,432
81,200
29,634
1,411,150
10,479,189
Cost
388,974
192,033
87,930
25,798
231,321
13,782
705,583
159,456
11,042
33,210
648,005
39,822
323,110
1,147,240
1,384,093
1,152,460
11,600
18,328
92,800
42,688
97,440
48,720
58,000
48,256
71,920
76,324
35,264
27,840
40,600
69,600
64,960
84,671
116,000
85,840
14,382
9,278
34,800
73,776
27,840
73,312
11,600
9,278
73,312
55,680
23,195
62,640
30,160
58,000
116,000
56,144
81,192
10,438
30,160
12,064
32,480
116,000
18,558
92,791
52,432
81,196
29,486
1,401,640
10,322,544
Net Book
Value
392,726
192,925
89,476
26,044
233,540
13,846
717,613
160,193
11,700
34,837
667,542
41,166
331,582
1,166,728
1,397,984
1,164,098
11,725
18,394
93,443
42,979
98,100
49,025
58,364
48,553
72,343
76,756
35,462
27,991
40,809
69,956
65,111
85,043
116,477
86,170
14,450
9,319
34,926
73,966
27,955
73,543
11,637
9,314
73,485
55,841
23,246
62,817
30,229
58,157
116,402
56,288
81,388
10,471
30,221
12,099
32,545
116,326
18,588
92,932
52,502
81,300
29,650
1,429,459
10,457,757
DISCLOSURE
(Continued)
II.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Components of other external resources payable in the financials that comprise at least
20% of the account, if the account exceeds 10% of total liabilities and equity excluding offbalance sheet commitments
Other external resources payable in the financials does not exceed 10% of total liabilities and equity.
5.
Information on provisions
Current
Period
1,436,480
27,367
215,998
17,884
94,303
9,552
1,756,333
Prior
period
1,326,468
26,989
175,204
14,696
93,418
8,152
1,603,242
Current
Period
Prior
Period
13,600
12,048
The Bank has recorded provision amounting to TL 13,600 (31 December 2014: TL 12,048) for
foreign exchange losses on principal amounts of foreign currency indexed loans and reflected the
related foreign exchange loss amount in the financial statements by offsetting from related loans.
Provisions for non-cash loans that are not indemnified or converted into cash
As of 31 March 2015, Bank has recorded TL 45,660 (31 December 2014: TL 63,030) as provisions for
non-cash loans that are not indemnified or converted into cash.
66
DISCLOSURE
(Continued)
II.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current Period
107,196
45,660
40,468
4,755
9,864
-
Prior period
105,005
63,030
37,207
14,673
10,177
-
207,943
722
230,814
Taxation
Current taxes
Tax provision
As at and for the year ended 31 March 2015, the tax provision was amounted to TL 674,384
(31 December 2014: TL 600,797). As at 31 March 2015, corporate tax liabilities of the Bank was
amounted to TL 72,234 (31 December 2014: TL 248,173), after deducting prepaid taxes paid during
temporary tax periods amounted to TL 602,150 (31 December 2014: TL 352,624).
Information on taxes payable
Corporate taxes payable
Taxation on securities
Capital gains tax on property
Taxes on foreign exchange transactions
Banking and Insurance Transaction Tax (BITT)
Value added tax payable
Others
Total
Current Year
72,234
116,083
2,291
58,567
2,221
43,511
294,907
Prior Year
248,173
123,184
2,146
58,972
3,139
19,879
455,493
Current Year
-
Prior Year
-
1,105
2,211
3,316
608
1,216
1,824
Information on payables for assets held for resale and tangible assets related to discounted
activities
None.
10. Information on subordinated loans
The Bank has issued bond having the secondary subordinated loan quality to be sold non-resident
natural and legal persons. The bond has been issued at the nominal value of USD 500 million with the
maturity of 10 years and 6.0% coupon rate. In addition to the issuance of this bond, on 3 December
2012 the Bank has realized second trance at nominal value of USD 400 million, has the same due date
and maturity of 10 years and 5.5% coupon rate.
The Bank has issued secondary subordinated loan (Tier II bond) as at January 2015 which satisfies
Basel-III criterias. In this context, the bond has been issued at the nominal value of USD 500 million
with the maturity date of 3 February 2025 and early call option date of 3 February 2020. The bond has
fixed interest, 10 years and one day maturity, two times interest payment in a year with coupon rate of
6,875% and issue yield of 6,95%.
11. Information on equity
Paid-in capital
Current Period
2,500,000
-
Common Stock
Preferred Stock
Prior Period
2,500,000
-
Paid-in capital of the Bank amounted to TL 2,500,000 is divided into groups comprised of 43.0%
Group (A), 15.6% Group (B), 16.2% Group (C) and 25.2% Group (D).
Board of Directors members; one member appointed by the Prime Minister representing The General
Directorate of the Foundations (Group A), three members representing Group (A), one member
representing Group (B), and two members representing Group (C); among the nominees shown by the
majority of each group, and one member among the nominees offered by the shareholders at the
General Assembly are selected. Preference of Group (D) is primarily taken into account in the
selection of the last mentioned member.
68
DISCLOSURE
(Continued)
II.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Capital System
Paid-in Capital
2,500,000
10,000,000
At the resolutions of Board of Directors dated 2 January 2015 and 61st Ordinary Meeting of the
General Assembly dated 30 March 2015, Banks ceiling per registered share capital has been
increased from TL 5,000,000 to TL 10,000,000.
Information on share capital increases and their sources; other information on any increase in
capital shares during the current period
There is no share capital increase in the current and prior period.
Information on share capital increases from revaluation funds
None.
Capital commitments for current financial year and following period
None.
Prior period indicators of the Banks income, profitability and liquidity; and possible effects of the
predictions on equity, considering the ambiguity of the indicators
None.
Information on the privileges given to stocks representing the capital
None.
Valuation differences of the marketable securities
Current Period
TL
Associates, subsidiaries and joint ventures
Fair value differences of available-for-sale securities
Foreign exchange differences
Total
69
Prior Period
TL
FC
556,062
28,060
118,404
268,525
FC
611,250
172,430
118,404
256,490
58,395
58,395
642,517
386,929
842,075
374,894
DISCLOSURE
(Continued)
III.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
19,349,753
Prior period
7,641,987
8,053,342
1,638,976
2,686,862
272,131
20,293,298
Type and amount of possible losses from off-balance sheet items including those referred to below
Guarantees, bills of exchange and acceptances and other letters of credit which can be counted as
financial collateral
The Bank provided specific provision amounting to TL 45,660 (31 December 2014: TL 63,030) for
unliquidated non-cash loans recorded under off-balance sheet items, amounting to TL 97,074
(31 December 2014: TL 129,638).
Final guarantees, provisional guarantees, sureties and similar transactions
Current Period
8,064,915
3,063,817
973,753
954,797
9,864,311
Prior Period
7,737,748
2,603,790
913,389
1,107,255
9,090,289
22,921,593
21,452,471
Current Period
2,224,586
1,033,316
1,191,270
27,713,887
29,938,473
Prior Period
2,905,607
1,846,045
1,059,562
25,728,316
28,633,923
Non-cash loans
70
DISCLOSURE
(Continued)
III.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
TL
Prior Period
%
FC
91,448
83,502
6,969
977
7,723,304
162,893
4,856,507
2,703,904
3,145,413
6,943,915
0.50
0.46
0.04
0.01
42.16
0.89
26.51
14.76
17.17
37.90
343,519
343,369
150
5,272,811
48,158
4,896,053
328,600
2,555,905
2,425,676
2.96
2.96
0.00
0.00
45.38
0.41
42.14
2.83
22.00
20.88
86,506
77,673
7,898
935
7,150,408
168,108
4,563,948
2,418,352
2,996,610
6,226,616
0.52
0.46
0.05
0.01
42.40
1.00
27.06
14.34
17.77
36.92
266,929
257,069
7,540
2,320
5,753,926
29,069
5,319,615
405,242
2,520,479
2,756,081
2.27
2.19
0.06
0.02
48.88
0.25
45.19
3.44
21.41
23.42
3,004,151
16.40
1,487,349
12.80
2,580,882
15.30 1,597,411
13.57
127,400
0.70
3,628
0.03
125,417
1,027,105
1,894,711
5.61
10.34
839,600
6,522
7.23
0.06
963,436
1,515,987
1.45
25,560
0.22
2.34
48,889
0.13
3,290
0.95
2.27
100.00
10,838
1,020,429
11,618,340
4.
Current Period
%
FC
5,691
0.05
5.71 1,058,514
8.99
7,094
8.99
0.06
254,056
1.51
24,192
0.21
0.42
591,814
3.51
44,562
0.38
0.03
24,595
0.15
3,903
0.03
1.01
14,714
2.39
473,323
100.00 11,770,738
0.13
4.02
100.00
0.09
170,429
8.78
403,045
100.00 16,863,185
0.74
Current Period
Letters of Guarantee
Confirmed Bills of Exchange and
Acceptances
Letters
of Credit
Endorsements
Purchase Guarantees for Securities Issued
Factoring Guarantees
Other Guarantees and Sureties
Non-Cash Loans
Group I
TL
18,064,349
22,481
18,086,830
FC
4,594,151
1,790,483
5,190,965
7,738
11,583,337
Group II
TL
155,005
155,005
Prior Period
Letters of Guarantee
Confirmed Bills of Exchange and
Acceptances
Letters
of Credit
Endorsements
Purchase Guarantees for Securities Issued
Factoring Guarantees
Other Guarantees and Sureties
Non-Cash Loans
Group I
TL
16,653,687
20,836
16,674,523
FC
4,549,302
1,943,257
5,212,911
2,603
11,708,073
Group II
TL
113,427
113,427
71
FC
13,484
2,743
16,227
FC
8,262
8,262
DISCLOSURE
(Continued)
III.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
None.
6.
Bank allocates TL 4,755 as provision for lawsuits against Bank (31 December 2014: TL 14,673).
7.
The Bank acts as an investment agent for banking transactions on behalf of its customers and provides
custody services. Such transactions are followed under off-balance sheet accounts. The Banks
custody services and banking transactions on behalf of individuals and corporate customers does not
present a material portion.
IV.
Interest income
Short-term Loans
Medium and Long-Term Loans
Loans Under Follow-Up
Premiums Received from Resource Utilization
Support Fund
Total
Current Period
TL
FC
728,687
32,199
1,494,132
321,119
24,859
-
Prior Period
TL
FC
625,310
37,924
1,240,509
218,424
34,394
-
2,247,678
1,900,213
353,318
256,348
72
Prior Period
TL
FC
688
242
1,092
688
1,334
DISCLOSURE
(Continued)
IV.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current Period
TL
FC
247,161
118,588
365,749
57,625
103
57,728
Prior Period
TL
FC
358,913
137,567
496,480
53,806
105
53,911
Prior Period
1,196
869
Current Period
TL
FC
Prior Period
TL
FC
Interest expense
Banks
Central Bank of Turkey
Domestic Banks
Foreign Banks
Foreign Head Offices and Branches
Other Institutions
16,865
2,259
14,606
-
45,423
436
44,987
4,874
1,748
1,748
-
32,318
747
31,571
4,710
Total
16,865
50,297
1,748
37,028
Prior Period
11,304
73
DISCLOSURE
(Continued)
IV.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Demand
Deposits
Up to 1
Month
Up to 3
Months
Up to 6
Months
1,823
24
-
43,931
8,843
51,986
108,288
14,779
433,513
138,639
226,328
54,583
33,377
10,707
11,002
8,793
7,380
64,092
5,895
2,103
2,737
3,846
109
476
43,931
485,850
271,093
351,646
80,734
1,847
227,827
853,063
63,879
79,470
7,168
1,233,254
3,803
-
6,856
3,164
71,871
-
7,750
-
4,233
-
16,832
-
111,345
3,164
3,803
10,020
71,871
7,750
4,233
16,832
114,509
5,650
237,847
924,934
71,629
83,703
24,000
1,347,763
Demand
Deposits
Up to 1
Month
Up to 3
Months
Up to 6
Months
Total
3
43
163
209
35,466
4,608
40,856
57,407
8,569
146,906
369,517
125,152
283,126
80,268
858,063
29,639
16,858
13,543
9,428
69,468
8,790
10,973
6,901
7,413
34,077
3,404
3,574
2,073
334
9,385
35,466
415,961
197,456
363,213
106,012
1,118,108
4,682
-
4,976
5,835
74,087
-
9,416
-
9,759
-
20,696
-
123,616
5,835
4,682
10,811
74,087
9,416
9,759
20,696
129,451
4,891
157,717
932,150
78,884
43,836
30,081
1,247,559
Total
Time Deposits
Prior Period
TL
Interbank deposits
Saving deposits
Public sector
deposits
Commercial
deposits
Other deposits
Deposits with 7
days
Totalnotification
FC
Foreign Currency
Deposits
Interbank deposits
Deposits with 7
days notification
Precious metal
deposits
Total
Total
74
DISCLOSURE
(Continued)
IV.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Income
Income from capital market transactions
Income from derivative financial instruments
Foreign exchange gains
Losses
Losses from capital market transactions
Losses from derivative financial instruments
Foreign exchange losses
Trading income/losses, net
Current Period
1,589,525
54,525
956,533
578,467
(1,530,147)
(3,504)
(963,674)
(562,969)
59,378
Prior Period
2,335,952
7,641
1,078,830
1,249,481
(2,263,626)
(2,913)
(1,046,133)
(1,214,580)
72,326
Net loss arising from changes in foreign exchange rates that relate to the Banks foreign exchange rate
based derivative financial instruments is amounting to TL 5,171 as at and for the three-month period
ended 31 March 2015 (31 March 2014: TL 46,390 net gain).
4.
Prior Period
206,909
12,241
18,162
316
41,629
162,665
20,630
25,020
298
15,390
279,257
224,003
Current Period
Prior Period
264,574
75,258
136,925
52,391
151,833
5,028
5,028
6,515
6,515
21,444
271,208
57,956
203,183
10,069
21,869
20,086
31,382
31,382
16,867
16,867
14,532
375,944
449,394
Other provision expenses amounting to TL 21,444 (31 March 2014: TL 14,532) is comprised of
provision for non-cash loans that are not indemnified or converted into cash and provision for
cheques amounting to TL 7,253 (31 March 2014: TL 11,367) and free provision expenses related
to loans and receivables amounting to TL 14,191 (31 March 2014: free provision expenses: TL
2,142 and other provision expenses: TL 1,023).
75
DISCLOSURE
(Continued)
IV.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Personnel Costs
Reserve for Employee Termination Benefits
Deficit Provision for Pension Funds
Impairment Losses on Tangible Assets
Depreciation Expenses on Tangible Assets
Impairment Losses on Intangible Assets
Amortization Expenses on Intangible Assets
Impairment Losses on Assets to be Disposed
Depreciation Expenses on Assets to be Disposed
Impairment Losses on Assets Held for Sale
Other Operating Expenses
Operational lease expenses
Repair and maintenance expenses
Advertisement expenses
Other expenses
Loss on sale of assets
Others (*)
Total
Current Period
333,347
14,365
30,117
3,989
966
4,075
307,138
49,183
7,166
20,994
229,795
288
161,027
855,312
Prior Period
306,973
12,012
27,327
2,902
378
3,124
275,695
43,822
4,939
13,580
213,354
1,429
103,802
733,642
(*)
Other operating expenses amounting to TL 161,027 (31 March 2014: TL 103,802) is comprised
of provision expenses for dividends to the personnel amounting to TL 32,054
(31 March 2014: TL 30,721), tax, fees and funds expenses amounting to TL 30,427
(31 March 2014: TL 26,852), Saving Deposits Insurance Fund expenses amounting to TL
27,008 (31 March 2014: TL 19,972) and other operating expenses amounting to TL 71,538 (31
March 2014: TL 26,257).
7.
Current period taxation benefit or charge and deferred tax benefit or charge
In the current period, the Bank has recorded a tax charge of TL 72,801 (31 March 2014: TL 70,838)
from the net taxable profit calculated in accordance the laws and regulations in effect.
Deferred tax benefit of the Bank is detailed in the below table.
76
DISCLOSURE
(Continued)
IV.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Current
Period
Prior
Period
(54,404)
(3,069)
-
4,720
(16,220)
(11,500)
(57,473)
Any further explanation on operating results needed for a proper understanding of the Banks
performance
The Bank has earned TL 3,029,168 interest income, TL 228,679 net fees and commissions income
and incurred TL 1,789,005 interest expenses, from ordinary banking transactions (31 March 2014: TL
2,710,023 interest income, TL 145,105 net fees and commissions income TL 1,650,875 interest
expenses).
Any changes in estimations that might have a material effect on current and subsequent period
results
None.
9.
Information related to the components of other items in the statement of income exceeding
10% of the group total, or 20% of the sub-accounts belonging to this group
Banks other commissions income mainly consists of credit card fee and commissions, transfer
commissions and intelligence commissions.
Banks other commissions expense mainly consists of credit card fee and commissions and
commissions given for foreign banks credits.
77
DISCLOSURE
(Continued)
V.
AND
FOOTNOTES
ON
UNCONSOLIDATED
FINANCIAL
STATEMENTS
Information on the volume of transactions with the Banks risk group, lending and deposits
outstanding at period end and income and expenses in the current period
Current Period
Loans and other
receivables
Balance at the beginning
of the period
Balance at the end of the
period
Interest and commission
income
Prior Period
Loans and other receivables
Balance at the beginning of
the period
Balance at the end of the
period
Interest and commission
income
Associates,
Subsidiaries and
Joint-Ventures
Cash Non-Cash
74,105
721,258
10,174
6,238
13,087
95,817
796,164
9,999
13,577
6,142
1,196
125
10
11
Associates,
Subsidiaries and Joint- Banks Direct and
Other Components in
Ventures
Indirect Shareholders
Risk Group
Cash Non-Cash
Cash Non-Cash
Cash Non-Cash
68,800
692,352
27,065
26,101
24,502
74,105
721,258
10,174
6,238
13,087
869
357
14
151
16
Associates,
Subsidiaries and
Joint-Ventures
Current
Prior
Period
Period
Other Components
in Risk Group
Current
Prior
Period
Period
898,566
1,014,201
713,966
968,601
115,831
46,810
917,477
17,055
898,566
11,304
546,074
11,527
713,966
16,188
91,774
483
115,831
574
Information on forwards, options and other derivative transactions held by the Banks risk group
Associates, Subsidiaries
and Joint-Ventures
Current
Prior
Period
Period
Other Components in
Risk Group
Current
Prior
Period
Period
43,792
42,800
78
Relations with entities in the risk group of/ or controlled by the Bank regardless of the nature of
relationship among the parties
Transactions with the risk group are made on an arms-length basis; terms are set according to the
market conditions and in compliance with the Banking Law.
In addition to the structure of the relationship, type of transaction, amount, and share in total
transaction volume, amount of significant items, and share in all items, pricing policy and other
Pricing policy and other conditions of transactions with the risk group of the Bank, are determined and
applied on arms length basis. The ratio of cash and non-cash loans given to the Banks risk group to
total cash and non-cash loans are 0.10 % (31 December 2014: 0.08%) and 2.71% (31 December 2014:
2.60%), respectively.
Current Period
Cash loans
Non-cash loans
Deposits
Forward and option agreements
Amount
109,394
812,305
1,555,325
-
Prior Period
Cash loans
Non-cash loans
Deposits
Forward and option agreements
Amount
80,343
744,519
1,728,363
-
79
SECTION SIX
OTHER DISCLOSURES
I.
II.
Capital Intelligence
BBBB
BB+
2
Stable
Fitch Ratings
BBBF3
Stable
BBB
F3
Stable
AAA (tur)
Stable
2
BBB-
80
I.
The Banks unconsolidated interim financial statements and footnotes as at and for the three-month
period ended 31 March 2015 have been reviewed by Baaran Nas Bamsz Denetim ve Serbest
Muhasebeci Mali Mavirlik A.. (a member of PricewaterhouseCoopers). It was noted in their
review report dated 7 May 2015 that nothing material has come to their attention that caused them to
believe that the accompanying unconsolidated interim financial statements do not give a true and fair
view of the Banks financial position and results of its operations.
81