Türkiye İş Bankası A.Ş.
Notes to the Unconsolidated Financial Statements
for the Year Ended 31 December 2015
147
Financial Information and Risk Management
Information on funds received through securitization is given below.
Date
Special Purpose Vehicle (SPV)
Amount
Final Maturity
Remaining Debt Amount
as at 31 December 2015
October 2011 TIB Diversified Payment Rights Finance Company
USD 75,000,000
5 years
USD 25,000,000
October 2011 TIB Diversified Payment Rights Finance Company
EUR 160,000,000
5-7 years
EUR 69,333,333
June 2012
TIB Diversified Payment Rights Finance Company
USD 225,000,000
5 years
USD 131,250,000
June 2012
TIB Diversified Payment Rights Finance Company
EUR 125,000,000
12 years
EUR 109,375,000
December 2013 TIB Diversified Payment Rights Finance Company
USD 50,000,000
5 years
USD 50,000,000
December 2013 TIB Diversified Payment Rights Finance Company
EUR 185,000,000
5-12 years
EUR 185,000,000
December 2014 TIB Diversified Payment Rights Finance Company
USD 250,000,000
5-14 years
USD 250,000,000
March 2015 TIB Diversified Payment Rights Finance Company
USD 555,000,000
5-15 years
USD 555,000,000
October 2015 TIB Diversified Payment Rights Finance Company
USD 221,200,000
10 years
USD 221,200,000
Other:
The Bank has obtained funds with an amount of USD 500 million and 10 years maturity, through securitization of future flow transactions.
d. Information on Debt Securities Issued (Net):
Current Period
Prior Period
TL
FC
TL
FC
Bills
5,551,796
1,927,381
4,305,319
2,339,748
Bonds
773,889
11,508,063
1,209,113
9,299,577
Total
6,325,685
13,435,444
5,514,432
11,639,325
e. Concentration of the liabilities of the Bank:
Bank’s liabilities come from 56% of deposits, 10% of funds borrowed, 9% of the secondary subordinated securities loans and 7% of the funds provided under repurchase
agreements. Deposits, having different properties are spread across a large customer base. The borrowings, on the other hand, are comprised of various funds obtained from financial
institutions through syndication, securitization, post-financing and money market operations. No risk concentration exists related to the Bank’s liabilities
f. Information on Other Liabilities:
Other liabilities do not exceed 10% of the balance sheet total.
g. Information on Lease Payables (net):
The Bank does not have any lease payables.
h. Information on Derivative Financial Liabilities Held for Risk Management:
The Bank does not have any derivative financial liabilities held for risk management purposes.
i. Information on Provisions:
i.1. Information on general loan loss provisions:
Current Period
Prior Period
General Loan Loss Provisions(1)
2,851,829
2,328,896
Provision for Group I Loans and Receivables
2,406,126
1,981,728
-Additional Provision for Loans and Receivables with Extended Maturities
124,210
108,338
Provision for Group II Loans and Receivables
175,504
123,405
- Additional Provision for Loans and Receivables with Extended Maturities
17,785
14,596
Provision for Non-cash Loans
166,016
150,873
Other
104,183
72,890
i.2. Reserves for employee benefits:
According to the related regulation and the collective bargaining agreements, the Bank is obliged to pay employee termination benefits to employees who retire, die, quit for their
military service obligations, who have been dismissed as defined in the related regulation or to the female employees who have voluntarily quit within one year after the date of their
marriage. In accordance with the related regulations, the amount of employee termination benefits is TL 3,828.37 (full TL amount as of 31 December 2015), which is one month salary
for each service year and cannot exceed the base wage ceiling for employee termination benefits. A provision for severance pay to allocate that employees need to be paid upon
retirement is calculated by estimating the present value of probable amount. In this context, as of 31 December 2015 TL 517,074 provision was set aside and reflected to the financial
statements (31 December 2014: TL 440,195).
The main actuarial assumptions used in the calculation of the employee termination benefits are as follows:
- Discount and inflation rates, which vary by years, were used for the calculation and the real rate of increase in wage was taken as 2%.
- TL 3,828.37 (full TL amount) wage ceiling, which was effective as at 31 December 2015 was taken into account for the calculations.
- The age of retirement is considered as the earliest age possible that an individual can retire.
- CSO 1980 table is used for the mortality rate for female and male employees
