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TÜRKİYE İŞ BANKASI A.Ş.
Notes to the Unconsolidated Financial Statements for the Year Ended
31 December 2014
140
İŞBANK
ANNUAL REPORT 2014
Information on funds received through securitization is given below.
Date
Special Purpose Vehicle (SPV)
Amount Final Maturity Remaining Debt Amount as at 31 December 2014
March 2007
TIB Diversified Payment Rights Finance Company USD 550,000,000
7-8 years
USD 2,000,000
October 2011
TIB Diversified Payment Rights Finance Company USD 75,000,000
5 years
USD 50,000,000
October 2011
TIB Diversified Payment Rights Finance Company EUR 160,000,000
5-7 years
EUR 114,666,667
June 2012
TIB Diversified Payment Rights Finance Company USD 225,000,000
5 years
USD 206,250,000
June 2012
TIB Diversified Payment Rights Finance Company EUR 125,000,000
12 years
EUR 121,875,000
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
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
4,305,319
2,339,748
3,896,072
158,658
Bonds
1,209,113
9,299,577
1,256,840
4,783,856
Total
5,514,432
11,639,325
5,152,912
4,942,514
e. Concentration of the liabilities of the Bank:
Bank's liabilities come from 56% of deposits, 9% 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)
2,328,896
1,972,588
Provision for Group I Loans and Receivables
1,981,728
1,661,838
- Additional Provision for Loans and Receivables with Extended Maturities
108,338
113,530
Provision for Group II Loans and Receivables
123,405
89,839
- Additional Provision for Loans and Receivables with Extended Maturities
14,596
9,874
Provision for Non-cash Loans
150,873
142,185
Other
72,890
78,726
(1)
Computed considering temporary 8th Substance of the Regulation on Procedures and Principles for Determination of Qualifications of Loans and Other Receivables by Banks and Provisions to Be Set Aside.
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 3,438.22 (full TL amount as of 31 December 2014), 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 2014 TL 440,195 provision was set aside and reflected to the financial
statements (31 December 2013: TL 338,434).
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 3,438.22 (full TL amount) wage ceiling, which was effective as at 31 December 2014 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