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TÜRKİYE İŞ BANKASI A.Ş.
Notes to the Consolidated Financial Statements for the Year Ended
31 December 2014
213
İŞBANK
ANNUAL REPORT 2014
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 of 31
December 2014
March 2007
TIB Diversified Payment Rights Finance Company
USD 550,000,000
7-8 years
USD 1,566,800
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
4,561,693
2,339,748
3,896,072
158,658
Bonds
1,584,575
10,111,076
1,238,258
4,783,856
Total
6,146,268
12,450,824
5,134,330
4,942,514
Concentration of the liabilities of the Group:
Of the Group’s liabilities 49% are comprised of deposits, 7% are comprised of funds provided from repurchase agreements, 12% are comprised of funds borrowed and 8% are
comprised subordinated debt and marketable securities issued. Deposits are distributed among a large variety of customers with different characteristics. 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 Group’s liabilities.
e. Information on Other Liabilities:
Other liabilities do not exceed 10% of the balance sheet total.
f. Information on Lease Payables (Net):
The group does not have any liabilities resulting from finance lease transactions.
g. Information on Derivative Financial Liabilities Held for Risk Management:
The Group does not have any derivative financial liabilities held for risk management purposes.
h. Information on Provisions:
h.1. Information on general loan loss provisions:
Current Period
Prior Period
General Loan Loss Provisions
(1)
2,479,770
2,100,602
Provision for Group I Loans and Receivables
2,111,676
1,770,516
- Additional Provision for Loans and Receivables with Extended Maturities
115,516
119,337
Provision for Group II Loans and Receivables
130,332
96,073
- Additional Provision for Loans and Receivables with Extended Maturities
19,541
15,203
Provision for Non-cash Loans
153,972
145,323
Other
83,790
88,690
(1)
Calculated 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”.
h.2. Reserves for employee benefits:
According to the related regulation and the collective bargaining agreements, the Parent 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 salary ceiling for employee termination benefits. A provision for severance pay to allocate that employees need to be paid
upon retirement is TL 482,111 as of 31 December 2014. (31 December 2013: TL 376,229).
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 salaries was taken as 2%.
• TL 3,438.22(full TL amount) salary 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