TÜRKİYE İŞ BANKASI ANONİM ŞİRKETİ THE CONSOLIDATED FINANCIAL REPORT AS OF AND FOR THE YEAR ENDED 31 DECEMBER 2015
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5 TÜRKİYE İŞ BANKASI ANONİM ŞİRKETİ THE CONSOLIDATED FINANCIAL REPORT AS OF AND FOR THE YEAR ENDED 31 DECEMBER 2015 Headquarters Address: İş Kuleleri, 34330, Levent/İstanbul Telephone: Fax: Web Site: The consolidated financial report as at and for the year ended 31 December 2015 prepared in accordance with the communiqué of Financial Statements and Related Disclosures and Footnotes to be Announced to Public by Banks as regulated by Banking Regulation and Supervision Agency, comprises the following sections: GENERAL INFORMATION ABOUT THE PARENT BANK CONSOLIDATED FINANCIAL STATEMENTS OF THE PARENT BANK EXPLANATIONS ON THE ACCOUNTING POLICIES INFORMATION ON THE FINANCIAL STRUCTURE AND RISK MANAGEMENT DISCLOSURES AND FOOTNOTES ON THE CONSOLIDATED FINANCIAL STATEMENTS OTHER EXPLANATIONS INDEPENDENT AUDITORS REPORT Associates, subsidiaries and special Purpose Entities whose financial statements have been consolidated in the consolidated financial report are as follows: Subsidiaries ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ ANADOLU HAYAT EMEKLİLİK A.Ş. EFES VARLIK YÖNETİM A.Ş. IS INVESTMENTS GULF LTD. İŞ FAKTORİNG A.Ş. İŞ FİNANSAL KİRALAMA A.Ş. İŞ GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. İŞ GİRİŞİM SERMAYESİ YATIRIM ORTAKLIĞI A.Ş. İŞ PORTFÖY YÖNETİMİ A.Ş. İŞ YATIRIM MENKUL DEĞERLER A.Ş. İŞ YATIRIM ORTAKLIĞI A.Ş İŞBANK AG JOINT STOCK COMPANY İŞBANK (JSC İŞBANK) JOINT STOCK COMPANY İŞBANK GEORGIA (JSC İŞBANK GEORGIA) MAXIS INVESTMENTS LTD. MİLLİ REASÜRANS T.A.Ş. TSKB GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. TÜRKİYE SINAİ KALKINMA BANKASI A.Ş. YATIRIM FİNANSMAN MENKUL DEĞERLER A.Ş. Special Purpose Entities TIB CARD RECEIVABLES FUNDING COMPANY LIMITED TIB DIVERSIFIED PAYMENT RIGHTS FINANCE COMPANY Associates ARAP-TÜRK BANKASI A.Ş. The consolidated financial statements and related disclosures and footnotes in this report are prepared, in accordance with the Regulation on the Procedures and Principles for Accounting Practices and Retention of Documents by Banks, Banking Regulation and Supervision Agency (BRSA) regulations, 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 consolidated financial report is presented in thousands of Turkish Lira (TL), and has been subjected to limited review and presented as the attached. Prof. Dr. Turkay Berksoy Füsun Tümsavaş H. Ersin Özince Member of the Board and Deputy Chairman of the Board of Directors Chairman of the Board of Directors the Audit Committee and Chairman of the Audit Committee Ali Tolga Ünal Mahmut Magemizoğlu Adnan Bali Head of Financial Management Division Deputy Chief Executive Chief Executive Officer In Charge of Financial Reporting The authorized contact person for questions on this consolidated financial report: Name Surname / Title: Süleyman H. Özcan / Head of Investor Relations Division Phone No : Fax No : Suleyman.Ozcan@isbank.com.tr investorrelations@isbank.com.tr
6 Page: SECTION I General Information about the Parent Bank I. Explanations on the Establishment Date and Initial Status of the Parent Bank, and History Including the Changes in the Former Status 1 II. Explanations on the Capital Structure, Shareholders who Directly or Indirectly, Solely or Jointly Undertake the Management and Control of the Parent Bank, any Changes in the Period, and Information on the Parent Bank s Risk Group 1 III. Explanations on the Chairman s, Directors, Auditors, Chief Executive Officer s and Deputy Chief Executives Shares, if any, and the Areas of their Responsibility at the 1 Bank IV. Information on the Parent Bank s Qualified Shareholders 2 V. Summary Information on the Parent Bank s Functions and Business Lines 2 VI. Differences between the Communiqué on Preparation of Consolidated Financial Statements of Banks and Turkish Accounting Standards and Explanation about the Institutions Subject to Line-By-Line Method or Proportional Consolidation and Institutions which are Deducted from Equity or not Included in These Three Methods 2 VII. Existing or Potential, Actual or Legal Obstacles on the Transfer of Shareholders Equity Between the Parent Bank and its Subsidiaries or the Reimbursement of Liabilities 4 VIII. Written Policies on Assessment of Ensuring Compliance on Market Discipline, Disclosure Obligations, Frequency and Accuracy of the Related Disclosures 4 SECTION II Consolidated Financial Statements I. Consolidated Balance Sheet (Statement of Financial Position) Assets 5 II. Consolidated Balance Sheet (Statement of Financial Position) Liabilities and Equity 6 III. Consolidated Off-Balance Sheet Items 7 IV. Consolidated Income Statement 8 V. Consolidated Statement of Income and Expense Items Accounted under Shareholders Equity 9 VI. Consolidated Statement of Changes in the Shareholders Equity 10 VII. Consolidated Statement of Cash Flows 11 VIII. Consolidated Statement of Profit Distribution Table 12 SECTION III Explanations on Accounting Policies I. Basis of Presentation 13 II. Strategy for Use of Financial Instruments and on Foreign Currency Transactions 14 III. Information on the Consolidated Companies 15 IV. Forward, Option Contracts and Derivative Transactions 17 V. Interest Income and Expenses 17 VI. Fees and Commission Income and Expenses 17 VII. Financial Assets 17 VIII. Impairment of Financial Assets 19 IX. Offsetting Financial Instruments 19 X. Sale and Repurchase Agreements and Securities Lending Transactions 19 XI. Non-current Assets Held for Sale and Discontinued Operations and Related Liabilities 19 XII. Goodwill and Other Intangible Assets 20 XIII. Tangible Assets 20 XIV. Investment Property 21 XV. Leasing Transactions 21 XVI. Insurance Technical Income and Expense 21 XVII. Insurance Technical Reserves 21 XVIII. Provisions and Contingent Liabilities 22 XIX. Contingent Assets 22 XX. Liabilities Regarding Employee Benefits 23 XXI. Taxation 24 XXII. Borrowings 26 XXIII. Equity Shares and Issuance of Equity Shares 26 XXIV. Bank Acceptances and Bills of Guarantee 26 XXV. Government Incentives 26 XXVI. Segment Reporting 27 XXVII. Other Disclosures 27 SECTION IV Information on the Financial Position and Risk Management of the Group I. Explanations on Consolidated Capital Adequacy Ratio 28 II. Explanations on Consolidated Credit Risk 33 III. Explanations on Consolidated Market Risk 42 IV. Explanations on Consolidated Operational Risk 43 V. Explanations on Consolidated Currency Risk 44 VI. Explanations on Consolidated Interest Rate Risk 46 VII. Explanations on Equity Shares Risk Arising from Banking Book 50 VIII. Explanations on Liquidity Risk Management and Liquidity Coverage Ratio 51 IX. Explanations on Securitization Positions 56 X. Explanations on Credit Risk Mitigation Techniques 57 XI. Explanations on Risk Management Objectives and Policies 57 XII. Explanations on Leverage Ratio 59 XIII. Explanations on Other Price Risks 60 XIV. Explanations on the Presentation of Assets and Liabilities at Fair Value 60 XV. Explanations on Transactions Carried out on Behalf of Third Parties and Fiduciary Transactions 61 XVI. Explanations on Consolidated Business Segmentation 62 SECTION V Disclosures and Footnotes on the Consolidated Financial Statements I. Disclosures and Footnotes on Consolidated Assets 65 II. Disclosures and Footnotes on Consolidated Liabilities 83 III. Disclosures and Footnotes on Consolidated Off-Balance Sheet Items 92 IV. Disclosures and Footnotes on Consolidated Income Statement 94 V. Disclosures and Footnotes on Consolidated Statement of Changes in the Shareholders Equity 98 VI. Disclosures and Footnotes on Consolidated Statement of Cash Flows 98 VII. Disclosures and Footnotes on the Group s Risk Group 100 VIII. Disclosures on the Group s Domestic, Foreign, Off-Shore Branches or Participations and Representative Offices 102 IX. Subsequent Events 104
7 SECTION VI Other Explanations I. Explanation on the Group s Credit Ratings 105 II. Explanation on Special Purpose Audit and Public Audit 107 SECTION VII Explanations on the Independent Auditors Report I. Explanations on the Independent Auditors Report 107 II. Explanations and Footnotes of the Independent Auditors 107
8 SECTION ONE: GENERAL INFORMATION ABOUT THE PARENT BANK I. Explanations on the Establishment Date and Initial Status of the Parent Bank, and History Including the Changes in the Former Status TÜRKİYE İŞ BANKASI A.Ş. ( the Bank or the Parent Bank ) was established on 26 August 1924 to operate in all kinds of banking activities and to initiate and/or participate in all kinds of financial and industrial sector undertakings when necessary. The Bank status has not been changed since its establishment. II. Explanations on the Capital Structure, Shareholders who Directly or Indirectly, Solely or Jointly Undertake the Management and Control of the Parent Bank, any Changes in the Period, and Information on the Parent Bank s Risk Group As at 31 December 2015, 40.15% of the Bank s shares are owned by Türkiye İş Bankası A.Ş. Members Supplementary Pension Fund (Fund), 28.09% are owned by the Republican People s Party-CHP (Atatürk s shares) and 31.76% are on free float. (31 December 2014: Fund 40.15%, CHP 28.09%, free float 31.76%). III. Explanations on the Chairman s, Directors, Auditors, Chief Executive Officer s and Deputy Chief Executives Shares, if any, and the Areas of their Responsibility at the Bank Board of Directors: Name and Surname Areas of Responsibility H. Ersin Özince Chairman of the Board and the Remuneration Committee Füsun Tümsavaş Deputy Chairman, Audit Committee, TRNC Internal Systems Committee and the Risk Committee, Chairman of the Corporate Governance Committee, Member of the Credit Committee Adnan Bali Chief Executive Officer and Director, Chairman of the Credit Committee, Member of the Risk Committee, Chairman of the Executive Committee, Chairman of the Human Resources Committee Hasan Koçhan Director, Member of the Credit Committee Mustafa Kıcalıoğlu Director Aysel Tacer Director, Member of the Corporate Social Responsibility Committee, Alternate Member of the Credit Committee Hüseyin Yalçın Director Murat Vulkan Director Director, Audit Committee, TRNC Internal Systems Committee, Remuneration Committee, and Corporate Governance Prof.Dr.Turkay Berksoy Committee, Alternate Member of the Credit Committee Kemal Meral Director Ulaş Moğultay Director, Member of the Corporate Social Responsibility Committee Chief Executive Officer and Deputy Chief Executives: Name and Surname Areas of Responsibility Adnan Bali Chief Executive Officer and Director, Chairman of the Credit Committee, Member of the Risk Committee, Chairman of the Executive Committee, Chairman of the Human Resources Committee Mahmut Magemizoğlu Financial Management, Investor Relations, Managerial Reporting and Internal Accounting, Member of the Risk Committee Suat İnce Corporate and Commercial Banking Marketing, Sales and Product Management, SME and Business Banking Sales, Free Zone Branches Hakan Aran Digital Banking, Information Technology Management, Data Management Banking Operations, Retail Loan and Card Operations, Support Services and Purchasing, Foreign Trade and Commercial Levent Korba Loan Operations, Internal Operations Management, Construction and Real Estate Management, Branch Network Development Ertuğrul Bozgedik Corporate Loans, SME Loans, Commercial Loans and Consumer Loans Underwriting, Loans Portfolio Management, Member of the Risk Committee Yalçın Sezen Consumer Loans, Card Payment Systems, Retail Banking Marketing, Sales and Product Management, Private Banking Marketing and Sale Management, Member of the Corporate Social Responsibility Committee Rıza İhsan Kutlusoy Human Resources, Enterprise Architecture, Strategy and Corporate Performance Management and Talent Management, Coordination of Consumer Relations Officer Senar Akkuş Treasury Management, Corporate Communication Management, Corporate Social Responsibility Committee Member of the Risk Committee İlhami Koç Associates, Cross-Border Banking and Foreign Subsidiaries, Branches and Representative Offices, Capital Markets Management and the Risk Committee (1) Yılmaz Ertürk Economic Research, International Financial Institutions Ergün Yorulmaz Commercial Banking, Retail Banking and General Legal Counsellorship, Financial Analysis, Commercial and Corporate Loans and Retail Loans Monitoring and Recovery Management (1) İlhami Koç, participate in the meetings of the Risk Committee on a consolidated basis. 1
9 The Parent Bank s shares attributable to the Directors and members of the Audit Committee, to the CEO and the Deputy Chief Executives are of minor importance. IV. Information on the Parent Bank s Qualified Shareholders Name Surname/Company Shares Ownership Paid-in Capital T. İş Bankası A.Ş. Mensupları Munzam Sosyal Güvenlik ve Yardımlaşma Sandığı Vakfı ( İşbank Members Supplementary Pension Fund ) Cumhuriyet Halk Partisi Republican People s Party (Atatürk s Shares) 1,806, % 1,806,553 1,264, % 1,264,142 Unpaid Capital V. Summary Information on the Parent Bank s Functions and Business Lines In line with the relevant legislation and principles stated in the Articles of Incorporation of the Bank, the Parent Bank s activities include operating in retail, commercial, corporate and private banking, foreign currency and money market operations, marketable securities operations, international banking services and other banking operations, as well as initiating or participating in all kinds of financial and industrial sector corporations as may be required. VI. Differences between the Communiqué on Preparation of Consolidated Financial Statements of Banks and Turkish Accounting Standards and Explanation about the Institutions Subject to Line-By-Line Method or Proportional Consolidation and Institutions which are Deducted from Equity or not Included in These Three Methods Banks are obligated to prepare consolidated financial statements for credit institutions and financial subsidiaries for creating legal restrictions on a consolidated basis based on the Communiqué on Preparation of Consolidated Financial Statements of Banks by applying Turkish Accounting Standards. There is not any difference between the related Communiqué and the consolidation operations that is based on Turkish Accounting Standards and Turkish Financial Reporting Standards. The consolidated financial statement includes the subsidiaries of the Bank which are credit institutions or financial institutions accordance with the BRSA regulations. As of current there is no credit institution or financial institution subsidiaries which are excluded in the scope of the consolidation. The information about the organizations in the scope of the consolidation: The Parent Bank and its subsidiaries; - ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ - ANADOLU HAYAT EMEKLİLİK A.Ş. - EFES VARLIK YÖNETİM A.Ş. - IS INVESTMENTS GULF LTD. - İŞ FAKTORİNG A.Ş. - İŞ FİNANSAL KİRALAMA A.Ş. - İŞ GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. - İŞ GİRİŞİM SERMAYESİ YATIRIM ORTAKLIĞI A.Ş. - İŞ PORTFÖY YÖNETİMİ A.Ş. - İŞ YATIRIM MENKUL DEĞERLER A.Ş. - IŞ YATIRIM ORTAKLIĞI A.Ş. - İŞBANK AG - JSC İŞBANK - JSC IŞBANK GEORGIA - MAXIS INVESTMENTS LTD. - MİLLİ REASÜRANS T.A.Ş. - TSKB GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş. - TÜRKİYE SINAI KALKINMA BANKASI A.Ş. - YATIRIM FİNANSMAN MENKUL DEĞERLER A.Ş. and Special Purpose Entities, - TIB Diversified Payment Rights Finance Company - TIB Card Receivables Funding Company Limited are fully consolidated, 2
10 Its associate; - ARAP-TÜRK BANKASI A.Ş. is accounted under equity accounting method. Consolidated companies are active in the areas of banking, insurance and reinsurance, private pensions, finance leasing, factoring, real estate investment, venture capital investment, brokerage, investment consulting, portfolio and asset management. Those companies are explained below. Anadolu Anonim Türk Sigorta Şirketi The Company was established in 1925 and operates in almost all non-life insurance service. The headquarter of the Company is in Istanbul. The Company s shares are traded in the Borsa İstanbul A.Ş. Anadolu Hayat Emeklilik A.Ş. The Company was founded in 1990 and its headquarter is in Istanbul. The company s main activities are private individual or group pension and life/death insurance and due to this branch are engaged in all kinds of insurance. There are 24 private pension funds founded by the company. The company s shares are traded in the Borsa Istanbul A.Ş. Efes Varlık Yönetim A.Ş. The field of activity of the company, which was founded in February 2011 is to purchase and sell the receivables with other assets of deposit banks, participation banks and other financial institutions. The Company s headquarter is located İstanbul. Is Investments Gulf Ltd. The purpose of the Company, which was founded in Dubai in the year 2011, is to operate brokerage activities mainly capital markets in the gulf region. İş Faktoring A.Ş. The field of operation of the Company, which operates in the factoring sector since 1993, is domestic and foreign factoring operations. The Company s headquarter is in Istanbul. İş Finansal Kiralama A.Ş. The Company, whose field of activity is financial leasing within the country and abroad started its business in The headquarters of the Company is in Istanbul. The Company s shares are traded in the Borsa İstanbul A.Ş. İş Gayrimenkul Yatırım Ortaklığı A.Ş. The Company whose main field of activity is investing in real estate, capital market instruments backed by real estate, real estate projects and capital market instruments is conducting its business in the sector as a real estate investment trust since The Company s shares are traded in the Borsa İstanbul A.Ş. since its establishment. İş Girişim Sermayesi Yatırım Ortaklığı A.Ş. Having started its venture capital business in the year 2000, the aim of the company is performing long-term investments to venture companies which have potential development and need resources where was founded and established in Turkey. The company s shares are traded in the Borsa İstanbul A.Ş. since the year İş Portföy Yönetimi A.Ş. The purpose of the Company, which was founded in 2000, is to engage in capital market operations stated in its articles of association. Among the capital market operations, the company offers portfolio management and investment consulting services only to corporate investors. İş Yatırım Menkul Değerler A.Ş. The Company s main field of activity is composed of intermediary, corporate finance, investment consulting and private portfolio management services. The Company s shares are traded in the Borsa İstanbul A.Ş. since May İş Yatırım Ortaklığı A.Ş. The aim of the Company, which was founded in İstanbul in the year 1995, is operating capital market activities which is located in the principal agreement, is portfolio management. The Company s shares are traded in the Borsa İstanbul A.Ş. since April
11 İşbank AG İşbank AG was founded to carry out the banking transactions in Europe. İşbank AG has 17 branches in total, 13 branches in Germany, 1 branch in Netherlands, France, Switzerland and Bulgaria. JSC İşbank The Bank, which was founded in 1998 and headquartered in Moscow, operating banking services by focusing on deposit, loan and brokerage operations with its 11 branches in several regions of Russian Federation. The title of the Bank was Closed Joint Stock Company and was changed to Joint Stock Company on 1 September JSC İşbank Georgia The Bank which was established in Georgia in the third quarter of 2015, is operating banking services mainly deposit, loan and exchange transactions. As part of the organizational structure of Parent Bank in abroad, Batumi and Tbilisi branches which were established in 2012 and 2014 respectively and proceed its operations as JSC İşbank Georgia. Maxis Investments Ltd. The purpose of the Company, which was founded in England in the year 2005, is to operate in activities in foreign capital markets. Milli Reasürans T.A.Ş. The Company, which was founded in 1929 to provide reinsurance services is located in Istanbul. TSKB Gayrimenkul Yatırım Ortaklığı A.Ş. The major field of activity of the Company, which was founded in 2006, is to create and develop an investment property portfolio and to invest in capital market instruments that are based on investment properties. The Company s shares are traded in the Borsa İstanbul A.Ş. since April Türkiye Sınai Kalkınma Bankası A.Ş. Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) which is an industrial development and an investment bank is founded especially to support private sector investments in industry and to provide domestic and foreign capital to Turkish companies. The Bank s shares are traded in the Borsa İstanbul A.Ş. Yatırım Finansman Menkul Değerler A.Ş. The Company was founded in İstanbul in The purpose of the Company is to engage in capital market operations stated in its articles of association. The company's headquarters is in Istanbul. VII. Existing or Potential, Actual or Legal Obstacles on the Transfer of Shareholders Equity Between the Parent Bank and its Subsidiaries or the Reimbursement of Liabilities None. VIII. Written Policies on Assessment of Ensuring Compliance on Market Discipline, Disclosure Obligations, Frequency and Accuracy of the Related Disclosures The Parent Bank has written policies on assessment of ensuring compliance on market discipline, disclosure obligations, frequency and accuracy of related disclosures. The mentioned policies which are agreed by Board can be obtained from the Parent Bank s website. 4
12 TÜRKİYE İŞ BANKASI A.Ş. CONSOLIDATED FINANCIAL STATEMENTS (STATEMENT OF FINANCIAL POSITION) THOUSAND TL CURRENT PERIOD PRIOR PERIOD ASSETS Footnotes (31/12/2015) (31/12/2014) TL FC Total TL FC Total I. CASH AND BALANCES WITH THE CENTRAL BANK V-I-a 3,329,033 29,160,943 32,489,976 4,762,412 20,381,135 25,143,547 II. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS (Net) V-I-b 1,160,527 1,342,922 2,503,449 1,367, ,309 2,260, Financial Assets Held for Trading 1,160,527 1,342,922 2,503,449 1,367, ,309 2,260, Government Debt Securities 391,672 9, , ,074 10, , Equity Securities 79, ,488 69,843-69, Derivative Financial Assets Held for Trading 149,282 1,302,717 1,451, , ,572 1,081, Other Marketable Securities 540,206 31, , ,445 32, , Financial Assets at Fair Value Through Profit and Loss Government Debt Securities Equity Securities Loans Other Marketable Securities III. BANKS V-I-c 1,658,379 4,717,715 6,376,094 3,409,819 2,596,638 6,006,457 IV. MONEY MARKET PLACEMENTS 1,297,194 11,009 1,308, ,548 7, , Interbank Money Market Placements Istanbul Stock Exchange Money Market Placements 1,287,534-1,287, , , Receivables from Reverse Repurchase Agreements 9,660 11,009 20,669 46,439 7,011 53,450 V. FINANCIAL ASSETS AVAILABLE-FOR-SALE (Net) V-I-d 35,679,613 11,329,729 47,009,342 37,461,468 8,215,661 45,677, Equity Securities 82, , ,160 94,073 6, , Government Debt Securities 34,968,833 9,802,942 44,771,775 36,694,393 7,184,137 43,878, Other Marketable Securities 628,120 1,260,287 1,888, ,002 1,025,032 1,698,034 VI. LOANS AND RECEIVABLES V-I-e 116,229,454 77,708, ,937, ,048,356 65,279, ,328, Loans and Receivables 115,215,974 77,693, ,909, ,362,890 65,270, ,633, Loans to the Bank's Risk Group 159, , , , , , Government Debt Securities Other 115,056,795 77,526, ,583, ,245,180 64,942, ,188, Non-Performing Loans 3,791, ,697 3,920,231 2,579, ,424 2,699, Specific Provisions (-) 2,778, ,809 2,891,863 1,893, ,094 2,004,705 VII. FACTORING RECEIVABLES 1,617, ,483 1,951,278 1,203, ,042 1,433,209 VIII. HELD TO MATURITY INVESTMENTS (Net) V-I-f 4,224, ,513 4,497,417 1,340,853 51,007 1,391, Government Debt Securities 4,153, ,408 4,310,652 1,307,192-1,307, Other Marketable Securities 71, , ,765 33,661 51,007 84,668 IX. INVESTMENTS IN ASSOCIATES (Net) V-I-g 166, , , , Associates Accounted for Using the Equity Method 126, , , , Unconsolidated Associates 40,552-40, , , Financial Investments Non-Financial Investments 40,552-40, , ,777 X. INVESTMENTS IN SUBSIDIARIES (Net) V-I-h 4,779,842-4,779,842 4,810,446-4,810, Unconsolidated Financial Subsidiaries Unconsolidated Non-Financial Subsidiaries 4,779,842-4,779,842 4,810,446-4,810,446 XI. JOINTLY CONTROLLED ENTITIES (JOINT VENTURES) (Net) V-I-i 2,260-2, Jointly Controlled Entities Accounted for Using the Equity Method Unconsolidated Jointly Controlled Entities 2,260-2, Jointly Controlled Financial Entities Jointly Controlled Non-Financial Entities 2,260-2, XII. LEASE RECEIVABLES V-I-j 1,147,324 2,051,987 3,199, ,928 1,812,271 2,746, Finance Lease Receivables 1,379,133 2,300,873 3,680,006 1,137,663 2,081,338 3,219, Operating Lease Receivables 2,776-2,776 2,352-2, Other Unearned Income (-) 234, , , , , ,154 XIII. DERIVATIVE FINANCIAL ASSETS HELD FOR HEDGING V-I-k - 4,093 4, Fair Value Hedges - 4,093 4, Cash Flow Hedges Net Foreign Investment Hedges XIV. TANGIBLE ASSETS (Net) V-I-l 5,817,603 51,059 5,868,662 2,300,532 83,156 2,383,688 XV. INTANGIBLE ASSETS (Net) V-I-m 457,906 48, , ,598 6, , Goodwill 35,974-35,974 35,974-35, Other 421,932 48, , ,624 6, ,523 XVI. INVESTMENT PROPERTY (Net) V-I-n 2,962,675-2,962,675 2,698,312-2,698,312 XVII. TAX ASSETS V-I-o 632,442 21, , ,923 15, , Current Tax Assets 51,752 10,374 62,126 29,060 4,676 33, Deferred Tax Assets 580,690 11, , ,863 10, ,236 XVIII. ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS (Net) V-I-p 55,522 11,797 67,319 65, , Held for Sale 55,522 11,797 67,319 65, , Discontinued Operations XIX. OTHER ASSETS V-I-r 14,430,339 2,783,345 17,213,684 10,834,402 1,186,995 12,021,397 TOTAL ASSETS 195,649, ,849, ,498, ,315, ,757, ,073,232 5
13 TÜRKİYE İŞ BANKASI A.Ş. CONSOLIDATED FINANCIAL STATEMENTS (STATEMENT OF FINANCIAL POSITION) THOUSAND TL CURRENT PERIOD PRIOR PERIOD LIABILITIES Footnotes (31/12/2015) (31/12/2014) TL FC Total TL FC Total I. DEPOSITS V-II-a 71,476,389 82,724, ,201,290 72,045,192 62,456, ,501, Deposits from the Bank's Risk Group 499,932 2,996,451 3,496, ,159 2,639,078 3,199, Other 70,976,457 79,728, ,704,907 71,485,033 59,816, ,301,989 II. DERIVATIVE FINANCIAL LIABILITIES HELD FOR TRADING V-II-b 434, ,942 1,206, , , ,841 III. FUNDS BORROWED V-II-c 4,572,972 40,895,562 45,468,534 5,094,210 28,965,797 34,060,007 IV. MONEY MARKET FUNDS 21,440,842 3,183,591 24,624,433 19,104,474 3,200,295 22,304, Interbank Money Market Funds Istanbul Stock Exchange Money Market Funds 1,788,893-1,788,893 2,291,363-2,291, Funds Provided Under Repurchase Agreements 19,651,949 3,183,591 22,835,540 16,813,111 3,200,295 20,013,406 V. MARKETABLE SECURITIES ISSUED (Net) V-II-d 8,612,253 15,467,305 24,079,558 6,146,268 12,450,824 18,597, Bills 7,461,176 1,927,381 9,388,557 4,561,693 2,339,748 6,901, Asset-backed Securities Bonds 1,151,077 13,539,924 14,691,001 1,584,575 10,111,076 11,695,651 VI. FUNDS 1,690 28,987 30, ,458 39, Borrower funds 1,690 28,987 30, ,458 39, Other VII. MISCELLANEOUS PAYABLES 16,618,658 1,222,965 17,841,623 13,547, ,934 14,395,500 VIII. OTHER LIABILITIES V-II-f 2,050, ,637 2,869,727 1,483,272 1,714,707 3,197,979 IX. FACTORING PAYABLES X. LEASE PAYABLES (Net) V-II-g Finance Lease Payables Operating Lease Payables Other Deferred Financial Lease Expenses (-) XI. DERIVATIVE FINANCIAL LIABILITIES HELD FOR RISK MANAGEMENT V-II-h - 5,799 5, Fair Value Hedges - 5,799 5, Cash Flow Hedges Net Foreign Investment Hedges XII. PROVISIONS V-II-i 12,596, ,251 13,562,294 11,272, ,935 12,083, General Loan Loss Provisions 2,972,728 42,664 3,015,392 2,447,646 32,124 2,479, Provision for Restructuring Reserves for Employee Benefits 613,598 2, , ,159 1, , Insurance Technical Reserves (Net) 5,231, ,929 6,130,540 4,533, ,987 5,287, Other Provisions 3,778,106 22,607 3,800,713 3,769,363 23,007 3,792,370 XIII. TAX LIABILITIES V-II-j 719,474 12, , ,251 2, , Current Tax Liabilities 713,575 12, , ,675 2, , Deferred Tax Liabilities 5,899-5,899 6,576-6,576 XIV. LIABILITIES RELATED TO ASSETS HELD FOR SALE AND V-II-k DISCONTINUED OPERATIONS Held for Sale Discontinued Operations XV. SUBORDINATED DEBT V-II-l - 4,192,969 4,192,969-3,384,849 3,384,849 XVI. SHAREHOLDERS' EQUITY V-II-m 36,544, ,151 36,683,526 32,618, ,914 33,004, Paid-in Capital 4,500,000-4,500,000 4,500,000-4,500, Capital Reserves 5,516,657 45,977 5,562,634 4,746, ,840 5,078, Share premium 33,941-33,941 33,941-33, Share Cancellation Profits Marketable Securities Value Increase Fund 1,191,800 44,411 1,236,211 3,107, ,840 3,439, Tangible Assets Revaluation Reserve 2,707,478 1,566 2,709, Intangible Assets Revaluation Reserve Investment Property Revaluation Reserve Bonus Shares Obtained from Associates, Subsidiaries and Jointly Controlled (1,179) - (1,179) (1,179) - (1,179) Entities (Joint Ventures) Hedging Reserves (Effective Portion) Accumulated Revaluation Reserves on Assets Held for Sale and Discontinued Operations Other Capital Reserves 1,584,617-1,584,617 1,606,464-1,606, Profit Reserves 18,567, ,783 18,748,096 15,811, ,192 15,925, Legal Reserves 2,773,526 1,363 2,774,889 2,510,521 1,106 2,511, Statutory Reserves 71,201-71,201 64,234-64, Extraordinary Reserves 15,770,545 26,761 15,797,306 13,278,217 22,129 13,300, Other Profit Reserves (47,959) 152, ,700 (41,108) 89,957 48, Profit or Loss 3,402,686 (91,074) 3,311,612 3,503,004 (87,426) 3,415, Prior Years' Profit/Loss 73,186 (92,314) (19,128) (54,198) (53,943) (108,141) Current Period Profit/Loss 3,329,500 1,240 3,330,740 3,557,202 (33,483) 3,523, Non-controlling Interest V-II-n 4,557,719 3,465 4,561,184 4,057,276 28,308 4,085,584 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 175,066, ,431, ,498, ,326, ,747, ,073,232 6
14 TÜRKİYE İŞ BANKASI A.Ş. CONSOLIDATED STATEMENT OF OFF-BALANCE SHEET ITEMS THOUSAND TL OFF-BALANCE SHEET ITEMS CURRENT PERIOD PRIOR PERIOD Footnotes (31/12/2015) (31/12/2014) TL FC Total TL FC Total A. OFF-BALANCE SHEET CONTINGENCIES AND COMMITMENTS (I+II+III) 101,375, ,624, ,999,525 85,747, ,096, ,843,430 I. GUARANTEES AND SURETYSHIPS V-III 20,849,553 32,062,712 52,912,265 18,327,481 26,335,832 44,663, Letters of Guarantee 20,561,735 19,279,873 39,841,608 18,080,951 16,568,615 34,649, Guarantees Subject to State Tender Law 804,216 2,524,859 3,329, ,815 2,975,340 3,717, Guarantees Given for Foreign Trade Operations 3,540,122 6,843,585 10,383,707 3,205,517 5,001,864 8,207, Other Letters of Guarantee 16,217,397 9,911,429 26,128,826 14,133,619 8,591,411 22,725, Bank Acceptances 4, , ,580 9,813 1,219,918 1,229, Import Letters of Acceptance - 135, , , , Other Bank Acceptances 4, , ,736 9, , , Letters of Credit 5,655 10,900,839 10,906,494-7,763,406 7,763, Documentary Letters of Credit 5,067 8,404,696 8,409,763-5,580,303 5,580, Other Letters of Credit 588 2,496,143 2,496,731-2,183,103 2,183, Prefinancing Given as Guarantee Endorsements Endorsements to the Central Bank of Turkey Other Endorsements Purchase Guarantees for Securities Issued Factoring Guarantees 50,022 14,269 64,291 88,602 11, , Other Guarantees 227, ,972 1,144, , , , Other Suretyships II. COMMITMENTS 43,118,249 15,796,161 58,914,410 41,486,251 10,949,790 52,436, Irrevocable Commitments 42,559,743 5,229,275 47,789,018 40,998,494 2,863,091 43,861, Forward Asset Purchase Commitments 208,436 3,063,854 3,272,290 67, ,497 1,045, Forward Deposit Purchase and Sale Commitments Capital Commitment for Associates and Subsidiaries , , Loan Granting Commitments 10,355, ,173 10,782,241 9,429, ,744 9,956, Securities Underwriting Commitments Commitments for Reserve Deposit Requirements Commitments for Cheque Payments 5,654,056-5,654,056 5,875,007-5,875, Tax and Fund Liabilities from Export Commitments 11,630-11,630 17,932-17, Commitments for Credit Card Expenditure Limits 21,219,999-21,219,999 20,489,527-20,489, Commitments for Credit Cards and Banking Services Promotions 100, ,470 93,072-93, Receivables from Short Sale Commitments Payables for Short Sale Commitments 12,960-12,960 9,784-9, Other Irrevocable Commitments 4,997,124 1,738,248 6,735,372 5,016,431 1,236,554 6,252, Revocable Commitments 558,506 10,566,886 11,125, ,757 8,086,699 8,574, Revocable Loan Granting Commitments 558,506 10,566,886 11,125, ,757 8,086,699 8,574, Other Revocable Commitments III. DERIVATIVE FINANCIAL INSTRUMENTS 37,407, ,765, ,172,850 25,933,585 71,810,491 97,744, Derivative Financial Instruments held for risk management - 4,689,900 4,689, Fair Value Hedges - 4,689,900 4,689, Cash Flow Hedges Net Foreign Investment Hedges Derivative Financial Instruments Held for Trading 37,407, ,075, ,482,950 25,933,585 71,810,491 97,744, Forward Foreign Currency Buy/Sell Transactions 3,450,436 9,706,595 13,157,031 2,714,269 5,622,700 8,336, Forward Foreign Currency Buy Transactions 1,693,095 4,859,603 6,552,698 1,822,359 2,346,843 4,169, Forward Foreign Currency Sell Transactions 1,757,341 4,846,992 6,604, ,910 3,275,857 4,167, Currency and Interest Rate Swaps 28,757,554 81,872, ,629,766 20,108,674 54,556,119 74,664, Currency Swap Buy Transactions 6,368,873 29,957,234 36,326,107 5,688,362 18,851,307 24,539, Currency Swap Sell Transactions 19,470,401 13,851,644 33,322,045 10,533,432 12,171,340 22,704, Interest Rate Swap Buy Transactions 1,459,140 19,031,667 20,490,807 1,943,440 11,766,736 13,710, Interest Rate Swap Sell Transactions 1,459,140 19,031,667 20,490,807 1,943,440 11,766,736 13,710, Currency, Interest Rate and Security Options 4,771,805 8,141,048 12,912,853 3,089,757 9,344,729 12,434, Currency Call Options 3,282,994 2,575,568 5,858,562 1,671,738 3,817,040 5,488, Currency Put Options 1,454,146 4,063,038 5,517,184 1,391,746 4,062,605 5,454, Interest Rate Call Options - 751, , , , Interest Rate Put Options - 751, , , , Securities Call Options 19,718-19,718 21,813-21, Securities Put Options 14,947-14,947 4,460 28,244 32, Currency Futures , Currency Buy Futures Currency Sell Futures Interest Rate Futures Interest Rate Buy Futures Interest Rate Sell Futures Other 427,004 5,354,757 5,781,761 20,885 2,286,943 2,307,828 B. CUSTODY AND PLEDGED ITEMS (IV+V+VI) 352,870, ,824, ,694, ,820, ,759, ,580,381 IV. ITEMS HELD IN CUSTODY 112,258,716 12,739, ,997, ,338,013 10,976, ,314, Customers Securities Held Investment Securities Held in Custody 92,530, ,273 93,496, ,012, , ,829, Cheques Received for Collection 14,310,435 3,962,914 18,273,349 12,836,400 3,297,909 16,134, Commercial Notes Received for Collection 2,990,258 6,503,195 9,493,453 2,464,130 5,685,294 8,149, Other Assets Received for Collection 13,560 2,638 16,198 9,682 4,143 13, Assets Received for Public Offering 2,541-2,541 2,541-2, Other Items under Custody 410,881 1,304,228 1,715,109 1,259,262 1,172,270 2,431, Custodians 2,000,451-2,000,451 1,753,513-1,753,513 V. PLEDGED ITEMS 240,611, ,085, ,696, ,482, ,783, ,266, Marketable Securities 15,932,469 18,680,578 34,613,047 9,424,785 12,662,712 22,087, Guarantee Notes 6,195,668 12,822,301 19,017,969 6,034,317 11,016,838 17,051, Commodity 51,707,000 12,762,242 64,469,242 39,383,197 10,293,413 49,676, Warranty Real Estates 149,817,573 98,649, ,467, ,504,932 77,658, ,163, Other Pledged Items 16,958,590 60,170,312 77,128,902 10,135,678 41,151,538 51,287, Pledged Items-Depository VI. ACCEPTED BILL GUARANTEES AND SURETIES TOTAL OFF-BALANCE SHEET ITEMS (A+B) 454,245, ,448, ,693, ,568, ,855, ,423,811 7
15 TÜRKİYE İŞ BANKASI A.Ş. CONSOLIDATED STATEMENT OF INCOME INCOME STATEMENT Footnotes THOUSAND TL CURRENT PERIOD PRIOR PERIOD (01/01-31/12/2015) (01/01-31/12/2014) I. INTEREST INCOME V-IV-a 21,406,966 17,752, Interest Income on Loans 16,488,975 13,311, Interest Income on Reserve Deposits 65,919 5, Interest Income on Banks 258, , Interest Income on Money Market Placements 96,233 15, Interest Income on Marketable Securities Portfolio 4,082,312 3,931, Financial Assets Held for Trading 80, , Financial Assets at Fair Value Through Profit and Loss Financial Assets Available for Sale 3,880,470 3,118, Held to Maturity Investments 121, , Finance Lease Income 262, , Other Interest Income 152, ,594 II. INTEREST EXPENSE V-IV-b 11,211,101 9,282, Interest on Deposits 6,281,969 5,603, Interest on Funds Borrowed 1,151, , Interest on Money Market Funds 2,151,312 1,762, Interest on Securities Issued 1,589,475 1,071, Other Interest Expense 36,676 65,119 III. NET INTEREST INCOME / EXPENSE (I - II) 10,195,865 8,470,409 IV. NET FEES AND COMMISSIONS INCOME / EXPENSE 1,807,881 1,505, Fees and Commissions Received 2,881,717 2,434, Non-cash Loans 399, , Other 2,482,295 2,132, Fees and Commissions Paid 1,073, , Non-cash Loans 7,373 8, Other 1,066, ,277 V. DIVIDEND INCOME V-IV-c 256, ,047 VI. TRADING INCOME / LOSS (NET) V-IV-d (325,160) 664, Gains/Losses on Securities Trading 412, , Derivative Financial Transactions Gains/Losses (897,945) (614,744) 6.3 Foreign Exchange Gains/Losses 160, ,533 VII. OTHER OPERATING INCOME V-IV-e 5,869,814 5,109,980 VIII. TOTAL OPERATING INCOME / EXPENSE (III+IV+V+VI+VII) 17,805,096 16,041,747 IX. PROVISION FOR LOSSES ON LOANS AND OTHER RECEIVABLES (-) V-IV-f 2,289,722 1,530,113 X. OTHER OPERATING EXPENSES (-) V-IV-g 10,940,293 9,499,378 XI. NET OPERATING INCOME (VIII-IX-X) 4,575,081 5,012,256 XII. AMOUNT IN EXCESS RECORDED AS GAIN AFTER MERGER - - XIII. PROFIT/LOSS FROM ASSOCIATES ACCOUNTED FOR USING THE EQUITY METHOD 14,818 14,778 XIV. NET MONETARY POSITION GAIN/LOSS - - XV. PROFIT/LOSS ON CONTINUING OPERATIONS BEFORE TAX (XI+ +XIV) V-IV-h 4,589,899 5,027,034 XVI. TAX PROVISION FOR CONTINUING OPERATIONS (±) V-IV-i 850,228 1,006, Current Tax Provision 528,501 1,293, Deferred Tax Provision 321,727 (286,399) XVII. NET PERIOD PROFIT/LOSS FROM CONTUNUING OPERATIONS (XV±XVI) V-IV-j 3,739,671 4,020,417 XVIII. INCOME ON DISCONTINUED OPERATIONS Income on Assets Held for Sale Gain on Sale of Associates, Subsidiaries and Jointly Controlled Entities (Joint Ventures) Other Income on Discontinued Operations - - XIX. EXPENSE ON DISCONTINUED OPERATIONS(-) Expense on Assets Held for Sale Loss on Sale of Associates, Subsidiaries and Jointly Controlled Entities (Joint Ventures) Other Expense on Discontinued Operations - - XX. PROFIT/LOSS ON DISCONTINUED OPERATIONS BEFORE TAX (XVIII-XIX) V-IV-h - - XXI. TAX PROVISION FOR DISCONTINUED OPERATIONS (±) V-IV-i Current Tax Provision Deferred Tax Provision - - XXII. NET PERIOD PROFIT/LOSS FROM DISCONTINUED OPERATIONS (XX±XXI) V-IV-k - - XXIII. NET PERIOD PROFIT/LOSS (XVII+XXII) V-IV-l 3,739,671 4,020, Group s Profit / Loss 3,330,740 3,523, Non-controlling Interest (-) 408, ,698 Earnings per Share (in full TL)
16 TÜRKİYE İŞ BANKASI A.Ş. CONSOLIDATED STATEMENT OF INCOME AND EXPENSE ITEMS UNDER SHAREHOLDERS EQUITY THOUSAND TL INCOME AND EXPENSE ITEMS UNDER SHAREHOLDERS EQUITY CURRENT PERIOD PRIOR PERIOD (01/01-31/12/2015) (01/01-31/12/2014) I. ADDITIONS TO MARKETABLE SECURITIES VALUE INCREASE FUND FROM FINANCIAL ASSETS AVAILABLE FOR SALE (2,320,433) 1,892,979 II. REVALUATION SURPLUS ON TANGIBLE ASSETS 2,836,519 - III. REVALUATION SURPLUS ON INTANGIBLE ASSETS - - IV. TRANSLATION ADJUSTMENT FOR FOREIGN CURRENCY TRANSACTIONS 56,895 (70,404) V. PROFIT/LOSS ON DERIVATIVE FINANCIAL ASSETS HELD FOR CASH FLOW HEDGES (Effective Portion of the Changes in Fair Value) - - VI. PROFIT/LOSS ON DERIVATIVE FINANCIAL ASSETS HELD FOR NET FOREIGN INVESTMENT HEDGES (Effective Portion of the Changes in Fair Value) - - VII. THE EFFECT OF CORRECTIONS OF THE ERRORS AND CHANGES IN THE ACCOUNTING POLICIES - - VIII. OTHER INCOME AND EXPENSES RECOGNISED UNDER SHAREHOLDERS EQUITY ACCORDANCE WITH TAS (300,529) 1,116,860 IX. DEFERRED TAX EFFECT OF REVALUATION AND VALUE INCREASES 267,685 (293,464) X. NET INCOME/EXPENSE DIRECTLY RECOGNISED UNDER SHAREHOLDERS EQUITY (I+II+ +IX) 540,137 2,645,971 XI. PROFIT/LOSS FOR THE PERIOD 3,330,740 3,523, Net Changes in the Fair Values of Marketable Securities (Transfer to Profit/Loss) (160,532) 170, The Portion of Derivative Financial Assets Held for Cash Flow Hedges Reclassified in and Transferred to Income Statement The Portion of Derivative Financial Assets Held for Net Foreign Investment Hedges Reclassified in and Transferred to Income Statement Other 3,491,272 3,352,953 XII. TOTAL PROFIT/LOSS RECOGNISED FOR THE PERIOD (X±XI) 3,870,877 6,169,690 9
17 TÜRKİYE İŞ BANKASI A.Ş. CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY THOUSAND TL CHANGES IN SHAREHOLDERS EQUITY Footnotes Paid-in Paid-in Capital Share Share Cancellation Legal Statutory Extraordinary Other Net Current Marketable Securities Tangible and Intangible Bonus Shares from Hedge Accumulated Rev. Reserve on Asset Total Shareholders'Equity Non-controlling Total Shreholder's Capital Inflation Adjustment Premium Profits Reserves Reserves Reserves Reserves Period Profit/(Loss) Profit / (Loss) Value Increase Fund Assets Revaluation Reserve Equity Participations Reserves Held for Sale and Discontinued Oper. Except Non-controlling Interest Interest Equity V -V PRIOR PERIOD (31/12/2014) I. Beginning Balance 4,500,000 1,615,938 33,940 2,286,486 59,539 10,812, ,149 2,621, ,397 (1,179) 22,761,176 3,133,450 25,894,626 II. Corrections Made According to TAS 8 540, , ,947 1,003, The Effect of Corrections of Errors 2.2 The Effect of Changes in Accounting Policies 540, , ,947 1,003,724 III. Adjusted Beginning Balance (I+II) 4,500,000 1,615,938 33,940 2,286,486 59,539 10,812, ,149 3,161, ,397 (1,179) 23,301,953 3,596,397 26,898,350 Changes During the Period IV. Increase/Decrease Due to Mergers V. Marketable Securities Value Increase Fund 2,758,725 2,758,725 98,983 2,857,708 VI. Hedge Reserves (Effective Portion) 6.1 Cash Flow Hedges 6.2 Net Foreign Investment Hedges VII. Revaluation Surplus on Tangible Assets VIII. Revaluation Surplus on Intangible Assets IX. Bonus Shares from Associates, Subsidiaries and Jointly Controlled Entities(Joint Ventures) X. Translation Differences (70,404) (70,404) (679) (71,083) XI. The Effect of Disposal of Assets XII. The Effect of Reclassification of Assets XIII. The Effect of Changes in the Equity of Subsidiaries on the Equity of the Bank XIV. Capital Increase 14.1 Cash 14.2 Internal Sources XV. Share Issue XVI. Share Cancellation Profits XVII. Paid-in-Capital Inflation Adjustment XVIII. Other (*) ,010 (42,370) (1,027) (42,032) (4,868) (46,900) XIX. Net Profit / Loss for the Period 3,523,719 3,523, ,698 4,020,417 XX. Profit Distribution 224,787 4,695 2,486,592 (3,269,053) (552,979) (100,947) (653,926) 20.1 Dividend Paid (649,410) (649,410) (101,516) (750,926) 20.2 Transfer to Reserves 224,787 4,695 2,390,161 (2,619,643) Other (**) 96,431 96, ,000 Ending Balance (III+IV+V...+XVIII+XIX+XX) 4,500,000 1,615,938 33,941-2,511,627 64,234 13,300,346 39,375 3,523,719 (108,141) 3,439,122 - (1,179) ,918,982 4,085,584 33,004,566 CURRENT PERIOD (31/12/2015) I. Beginning Balance 4,500,000 1,615,938 33,941 2,511,627 64,234 13,300,346 39,375 3,415,578 3,439,122 (1,179) 28,918,982 4,085,584 33,004,566 Changes During the Period II. Increase/Decrease Due to Mergers III. Marketable Securities Value Increase Fund (2,203,955) (2,203,955) (39,476) (2,243,431) IV. Hedge Reserves (Effective Portion) 4.1 Cash Flow Hedges 4.2 Net Foreign Investment Hedges V. Revaluation Surplus on Tangible Assets 2,709,044 2,709, ,990 3,037,034 VI. Revaluation Surplus on Intangible Assets VII. Bonus Shares from Associates, Subsidiaries and Jointly Controlled Entities(Joint Ventures) VIII. Translation Differences 55,851 1,044 56,895 (747) 56,148 IX. The Effect of Disposal of Assets X. The Effect of Reclassification of Assets XI. The Effect of Changes in the Equity of Subsidiaries on the Equity of the Bank XII. Capital Increase 12.1 Cash 12.2 Internal Sources XIII. Share Issue XIV. Share Cancellation Profits XV. Paid-in-Capital Inflation Adjustment XVI. Other (*) (21,847) 42,870 21,023 (92,012) (70,989) XVII. Net Profit / Loss for the Period 3,330,740 3,330, ,931 3,739,671 XVIII. Profit Distribution 263,262 6,967 2,496,960 (3,477,576) (710,387) (129,086) (839,473) 18.1 Dividend Paid (841,011) (841,011) (129,732) (970,743) 18.2 Transfer to Reserves 263,262 6,967 2,366,336 (2,636,565) Other (**) 130, , ,270 Ending Balance (I+II+III...+XVI+XVII+XVIII) 4,500,000 1,615,938 33,941-2,774,889 71,201 15,797,306 73,379 3,330,740 (19,128) 1,236,211 2,709,044 (1,179) ,122,342 4,561,184 36,683,526 (*) Includes changes in Group's shares. (**) According to the Articles of Incorporation of the Bank, since a portion of the net profit for the period is distributed to the employees as a dividend, the provision provided for employee dividend distribution within the scope of TAS 19-Employee Benefits, has been added to distributable profit. 10
18 TÜRKİYE İŞ BANKASI A.Ş. CONSOLIDATED STATEMENT OF CASH FLOWS Footnotes THOUSAND TL CURRENT PERIOD PRIOR PERIOD (01/01-31/12/2015) (01/01-31/12/2014) A. CASH FLOWS FROM BANKING OPERATIONS 1.1 Operating Profit Before Changes in Operating Assets and Liabilities 11,177,832 4,865, Interest Received 20,678,956 16,619, Interest Paid (10,954,988) (9,098,592) Dividend Received 90,989 71, Fees and Commissions Received 2,881,717 2,434, Other Income 5,700,209 4,682, Collections from Previously Written Off Loans and Other Receivables 1,056, , Cash Payments to Personnel and Service Suppliers (5,061,472) (4,657,996) Taxes Paid (816,574) (1,234,783) Other V-VI (2,397,772) (4,923,445) 1.2 Changes in Operating Assets and Liabilities (6,451,242) (8,920,141) Net (Increase) Decrease in Financial Assets Held for Trading 117, , Net(Increase) Decrease in Financial Assets at Fair Value through Profit or Loss Net (Increase) Decrease in Due From Banks (8,327,686) (2,155,635) Net (Increase) Decrease in Loans (16,625,682) (21,709,826) Net (Increase) Decrease in Other Assets (4,390,702) (1,625,666) Net Increase (Decrease) in Bank Deposits 476,491 2,405, Net Increase (Decrease) in Other Deposits 10,067,293 8,878, Net Increase (Decrease) in Funds Borrowed 7,511,563 6,103, Net Increase (Decrease) in Matured Payables Net Increase (Decrease) in Other Liabilities V-VI 4,719,629 (1,276,577) I. Net Cash Provided From Banking Operations 4,726,590 (4,055,041) B. CASH FLOWS FROM INVESTING ACTIVITIES II. Net Cash Provided from / Used in Investing Activities (5,612,403) (2,664,351) 2.1 Cash Paid for Purchase of Associates, Subsidiaries and Jointly Controlled Entities (Joint Ventures) (37,100) (23,415) 2.2 Cash Obtained from Sale of Associates, Subsidiaries and Jointly Controlled Entities (Joint Ventures) 23,203 20, Tangible Asset Purchases (985,381) (586,724) 2.4 Tangible Asset Sales 379, , Cash Paid for Purchase of Financial Assets Available for Sale (16,290,932) (22,440,548) 2.6 Cash Obtained from Sales of Financial Assets Available for Sale 10,578,811 13,727, Cash Paid for Purchase of Investment Securities Held to Maturity (486,510) (86,112) 2.8 Cash Obtained from Sales of Investment Securities Held to Maturity (*) 1,545,224 6,564, Other V-VI (339,573) (233,353) C. CASH FLOWS FROM FINANCING ACTIVITIES III. Net Cash Provided from / Used in Financing Activities 1,299,849 7,159, Cash Obtained from Funds Borrowed and Securities Issued 23,894,082 20,491, Cash Used for Repayment of Funds Borrowed and Securities Issued (21,623,490) (12,580,759) 3.3 Equity Instruments Dividends Paid (970,743) (750,926) 3.5 Payments for Finance Leases Other V-VI - - IV. Effect of Change in Foreign Exchange Rate on Cash and Cash Equivalents V-VI (57,933) 79,279 V. Net Increase / (Decrease) in Cash and Cash Equivalents 356, ,707 VI. Cash and Cash Equivalents at Beginning of the Period 13,562,316 13,042,609 VII. Cash and Cash Equivalents at End of the Period 13,918,419 13,562,316 (*) Redeemed invesment securities are included. 11
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