Yapı Kredi Sigorta Anonim Şirketi

Size: px
Start display at page:

Download "Yapı Kredi Sigorta Anonim Şirketi"

From this document you will learn the answers to the following questions:

  • What was the name of the person who ran the investigation?

  • What was the name of the BALANCE?

  • What type of reserve is a Unearned Risk?

Transcription

1 (Convenience translation of independent auditors report and financial statements originally issued in Turkish) Yapı Kredi Sigorta Anonim Şirketi Consolidated financial statements as of December 31, 2011 together with independent auditors' report

2 (Convenience translation of independent auditors report originally issued in Turkish) Yapı Kredi Sigorta Anonim Şirketi Independent auditors report as of December 31, 2011 To the Board of Directors of Yapı Kredi Sigorta Anonim Şirketi 1. We have audited the accompanying consolidated balance sheet of Yapı Kredi Sigorta Anonim Şirketi ( the Company ) and its subsidiary ( the Group ) as of December 31, 2011 and the related consolidated statement of income, consolidated statement of changes in equity, consolidated cash flow statement for the year then ended and a summary of significant accounting policies and other explanatory notes. Group Management s responsibility for the financial statements 2. The Group management is responsible for the preparation and fair presentation of these financial statements in accordance with the prevailing accounting principles and standards set out as per the insurance legislation. This responsibility includes designing, implementing and maintaining internal systems relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor s responsibility 3. Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with the regulations regarding auditing principles set by insurance legislation. Those standards require that the ethical principles are complied with and that the audit is planned and performed to obtain reasonable assurance about whether the financial statements are free of material misstatement. 4. Our audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The independent audit procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessment, the independent auditors consider internal systems relevant to the entity. However our purpose is not expressing an opinion on the effectiveness of the entity's internal control, but to consider the relation of the financial statements prepared by the Group management and the internal systems in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

3 Opinion 5. In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of Yapı Kredi Sigorta Anonim Şirketi and its subsidiary as of December 31, 2011 and its financial performance and its cash flows for the year then ended in accordance with the prevailing accounting principles and standards (Note 2) set out as per the insurance legislation. Additional paragraph for convenience translation to English: 6. As of December 31, 2011, the accounting principles described in Note 2 to the accompanying consolidated financial statements differ from International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board. The effects of differences between accounting principles and standards described in Note 2 and IFRS have not been quantified in the accompanying consolidated financial statements. Accordingly, the accompanying financial statements are not intended to present the financial position and results of operations of the Group in accordance with IFRS. Güney Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik Anonim Şirketi A member firm of Ernst & Young Global Limited Şeyda Oltulu, SMMM Engagement Partner February 24, 2012 Istanbul, Turkey (2)

4 CONVENIENCE TRANSLATION OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY - 31 DECEMBER 2011 TABLE OF CONTENTS PAGES CONSOLIDATED BALANCE SHEET CONSOLIDATED STATEMENT OF INCOME CONSOLIDATED STATEMENT OF CASH FLOWS... 8 CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY... 9 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS APPENDIX I - STATEMENT OF PROFIT DISTRIBUTION

5 CONVENIENCE TRANSLATION OF THE CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2011 ASSETS Audited Audited Note 31 December December 2010 I- Current Assets A- Cash and Cash Equivalents 2.12 and Cash Cheques Received Banks 2.12 and Cheques Given and Payment Orders (-) Other Cash and Cash Equivalents 2.12, 14 and 47, B- Financial Assets and Financial Investments at Insurees' Risk Available for Sale Investments 2.8 and Held to Maturity Investments Trading Investments 2.8 and Loans Provision for Loans (-) Financial Assets at Insuree's Risk 2.8 and Company's Shares Provision for impairment of financial assets (-) - - C- Receivables from Operations 2.8,11.1 and Due from Insurance Operations Provision for Due from Insurance Operations (-) 12.1 ( ) ( ) 3- Due from Reinsurance Operations Provision for Due from Reinsurance Operations (-) Premium Reserves Loans to Insurees 12.1 and Provision for Loans to Insurees (-) Due from Private Pension Fund Operations 12.1 and Doubtful Receivables from Main Operations Provision for Doubtful Receivables from Main Operations (-) 12.1 ( ) ( ) D- Due from Related Parties Due from Shareholders Due from Subsidiaries Due from Equity Investments Due from Joint-Ventures Due from Personnel Due from Other Related Parties Rediscount on Due from Related Parties (-) Doubtful Receivables from Related Parties Provision for Doubtful Receivables from Related Parties (-) - - E- Other Receivables Leasing Receivables Unearned Leasing Interest Income (-) Deposits and Guarantees Given Other Receivables Rediscount on Other Receivables (-) Other Doubtful Receivables Provision for Other Doubtful Receivables (-) (41.528) (44.492) F- Deferred Expenses and Income Accruals Deferred Expenses Accrued Interest and Rent Income Deferred Income Other Deferred Expenses and Income Accruals 2.25 and G- Other Current Assets Prepaid Office Supplies Prepaid Taxes and Funds Deferred Tax Assets Job Advances Advances to Personnel Count Shortages Other Current Assets Provision for Other Current Assets (-) - - I- Total Current Assets The accompanying notes form an integral part of these consolidated financial statements. 1

6 CONVENIENCE TRANSLATION OF THE CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2011 ASSETS Audited Audited Note 31 December December 2010 II- Non-Current Assets A- Receivables from Main Operations Due from Insurance Operations Provision for Due from Insurance Operations (-) Due from Reinsurance Operations Provision for Due from Reinsurance Operations (-) Premium Reserves Loans to Insurees Provision for Loans to Insurees (-) Due from Private Pension Fund Operations Doubtful Receivables from Main Operations Provision for Doubtful Receivables from Main Operations (-) - - B- Due from Related Parties Due from Shareholders Due from Subsidiaries Due from Equity Investments Due from Joint-Ventures Due from Personnel Due from Other Related Parties Rediscount on Due from Related Parties (-) Doubtful Receivables from Related Parties Provision for Doubtful Receivables from Related Parties (-) - - C- Other Receivables Leasing Receivables Unearned Leasing Interest Income (-) Deposits and Guarantees Given Other Receivables Rediscount on Other Receivables (-) Other Doubtful Receivables Provision for Other Doubtful Receivables (-) - - D- Financial Assets Investment Securities Subsidiaries Subsidiaries Capital Commitments (-) Equity Investments Equity Investments Capital Commitments (-) Joint-Ventures Joint-Ventures Capital Commitments (-) Financial Assets and Financial Investments at Insurees' Risk Other Financial Assets Provision for impairment of financial assets (-) 45.2 ( ) ( ) E- Tangible Assets 2.5,2.6,6 and Investment Properties Provision for Diminution in Value of Investment Property (-) Property for Operational Usage Machinery and Equipment Furniture and Fixtures Motor Vehicles Other Tangible Assets (including leasehold improvements) Leased Assets Accumulated Depreciation (-) 6 ve 7 ( ) ( ) 10- Advances Given for Tangible Assets(including construction in progress) - - F- Intangible Assets 2.7, Rights Goodwill Start-up Costs Research and Development Expenses Other Intangible Assets Accumulated Amortization (-) 8 ( ) ( ) 7- Advances Given for Intangible Assets G- Deferred Expenses and Income Accruals Deferred Expenses Income Accruals Other Deferred Expenses and Income Accruals 2.25 and H- Other Non-Current Assets Effective Foreign Currency Accounts Foreign Currency Accounts Prepaid Office Supplies Prepaid Taxes and Funds Deferred Tax Assets 2.18,3,21 and Other Non-Current Assets Other Non-Current Assets Depreciation (-) Provision for Diminution in Value of Other Non-Current Assets (-) - - II- Total Non-Current Assets TOTAL ASSETS (I+II) The accompanying notes form an integral part of these consolidated financial statements. 2

7 CONVENIENCE TRANSLATION OF THE CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2011 LIABILITIES Audited Audited Note 31 December December 2010 III- Current Liabilities A- Financial Liabilities Due to Credit Institutions Leasing Payables Deferred Leasing Costs (-) Short Term Installments of Long Term Borrowings Issued Debt Securities Other Issued Debt Securities Value Differences of Other Issued Debt Securities (-) Other Financial Payables (Liabilities) B- Payables from Main Operations Payables from Insurance Operations 4 and Payables from Reinsurance Operations Premium Deposits Payables from Private Pension Operations 19 and Payables from Other Operations 19 and Rediscount on Payables from Other Operations (-) - - C- Due to Related Parties Due to Shareholders Due to Associates Due to Subsidiaries Due to Joint-Ventures Due to Personnel Due to Other Related Parties D- Other Payables Deposits and Guarantees Received Other Payables 2.26,19 and Rediscount on Other Payables (-) - - E- Insurance Technical Provisions Unearned Premium Reserve - Net 2.24,4 and Unexpired Risks Reserve - Net 2.24, 4 and Life Mathematical Reserve - Net Outstanding Claim Provision - Net 2.24, 4 and Bonus and Rebate Provision - Net 2.24, 4 and Provision for Life Policies at Insuree's Risk Net Other Technical Reserves - Net F- Taxes and Other Fiscal Liabilities Taxes and Funds Payable Social Security Withholdings Payable Overdue, Deferred or Restructured Taxes and Other Fiscal Liabilities Other Taxes and Fiscal Liabilities Corporate Tax Provision and Other Fiscal Liabilities 2.18 and Prepaid Corporate Tax and Other Fiscal Liabilities (-) 2.18 and 35 ( ) ( ) 7- Other Taxes and Fiscal Liabilities Provision G- Provisions for Other Risks Provision for Employment Termination Benefits 2.19, Provision for Social Aid Fund Asset Shortage Provision for Expense Accruals - - H- Deferred Income and Expense Accruals Deferred Income 2.24 and Expenses Accruals 2.20 and Other Deferred Income and Expense Accruals - - I- Other Current Liabilities Deferred Tax Liabilities Count Overages Other Current Liabilities III- Total Current Liabilities The accompanying notes form an integral part of these consolidated financial statements. 3

8 CONVENIENCE TRANSLATION OF THE CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2011 LIABILITIES Audited Audited Note 31 December December 2010 IV- Non-Current Liabilities A- Financial Liabilities Due to Credit Institutions Leasing Payables Deferred Leasing Costs (-) Issued Debt Securities Other Issued Debt Securities Value Differences of Other Issued Debt Securities (-) Other Financial Payables (Liabilities) - - B- Payables from Operations Payables from Insurance Operations Payables from Reinsurance Operations Premium Deposits Payables from Private Pension Operations Payables from Other Operations Rediscount on Payables from Other Operations (-) - - C- Due to Related Parties Due to Shareholders Due to Subsidiaries Due to Equity Investments Due to Joint-Ventures Due to Personnel Due to Other Related Parties - - D- Other Payables Deposits and Guarantees Received Other Payables 2.26,19 and Rediscount on Other Payables - - E- Insurance Technical Provisions Unearned Premium Reserve - Net Unexpired Risks Reserve - Net Life Mathematical Reserve - Net 2.24, 4 and Outstanding Claim Provision - Net Bonus and Rebate Provision - Net 2.24.,4 and Provision for Life Policies at Insuree's Risk - Net Other Technical Reserves - Net 2.8,2.24,4,17and F- Other Liabilities and Related Provisions Other Payables Overdue, Deferred or Restructured Taxes and Other Fiscal Liabilities Other Payables and Expense Accruals - - G- Provisions for Other Risks Provision for Employment Termination Benefits 2.19,3 and Provision for Social Aid Fund Asset Shortage - - H- Deferred Income and Expense Accruals Deferred Income Expenses Accruals Other Deferred Income and Expense Accruals - - I- Other Non-Current Liabilities Deferred Tax Liabilities Other Non-Current Liabilities 2.25 ve IV- Total Non-Current Liabilities The accompanying notes form an integral part of these consolidated financial statements. 4

9 CONVENIENCE TRANSLATION OF THE CONSOLIDATED BALANCE SHEET AT 31 DECEMBER 2011 SHAREHOLDERS EQUITY Audited Audited Note 31 December December 2010 V- Shareholders Equity A- Share Capital Nominal Capital 2.13 and Unpaid Capital (-) Adjustments to Share Capital Adjustments to Share Capital (-) - - B- Capital Reserves Share Premium Profit from Stock Abrogation Sales Profits to be Added to the Capital Foreign Currency Translation Differences Other Capital Reserves C- Profit Reserves Legal Reserves Statutory Reserves Extraordinary Reserves Special Funds (Reserves) Valuation of Financial Assets 2.8 and 15 ( ) Other Profit Reserves D- Retained Earnings ( ) ( ) 1- Retained Earnings ( ) ( ) E- Accumulated Deficit (-) ( ) ( ) 1- Previous Years' Losses ( ) ( ) F- Net Profit for the Period Net Profit for the Period Net Loss for the Period (-) Profit for he period-not subject to distribution G- Minority Interest V- Total Shareholders Equity TOTAL LIABILITIES AND SHAREHOLDERS EQUITY (III+IV+V) The accompanying notes form an integral part of these consolidated financial statements. 5

10 CONVENIENCE TRANSLATION OF THE CONSOLIDATED STATEMENT OF INCOME FOR THE PERIOD 1 JANUARY - 31 DECEMBER 2011 I- TECHNICAL PART Audited Audited Note A- Non-Life Technical Income Earned Premiums - (Net of Reinsurer's Share) Written Premiums - (Net of Reinsurer's Share) Gross Written Premium (+) Reinsurer s Share of Gross Written Premium (-) 10 and 24 ( ) ( ) 1.2- Change in Unearned Premiums Reserve (Net of Reinsurer's Share and Reserves Carried Forward)(+/-) ( ) ( ) Unearned Premiums Reserve (-) ( ) ( ) Reinsurer s Share of Unearned Premiums Reserve (+) Change in Unexpired Risks Reserve (Net of Reinsurer's Share and Reserves Carried Forward)(+/-) 47.5 ( ) Unexpired Risks Reserve (-) ( ) Reinsurer s Share of Unexpired Risks Reserve (+) Investment Income Transferred from Non-Technical Part Other Technical Income - (Net of Reinsurer's Share) Other Gross Technical Income (+) Reinsurer s Share of Other Gross Technical Income (-) - - B- Non-Life Technical Expense ( ) ( ) 1- Incurred Losses - (Net of Reinsurer's Share) ( ) ( ) 1.1- Paid Claims (Net of Reinsurer's Share) ( ) ( ) Gross Paid Claims (-) ( ) ( ) Reinsurer s Share of Gross Paid Claims (+) Change in Outstanding Claims (Net of Reinsurer's Share and Returned Reserve) (+/-) ( ) ( ) Outstanding Claims Provision (-) ( ) ( ) Reinsurer s Share of Outstanding Claims Provision (+) Change in Bonus and Rebate Provision (Net of Reinsurer's Share and Reserves Carried Forward) (+/-) 47.5 ( ) Bonus and Rebate Provision (-) ( ) Reinsurer s Share of Bonus and Rebate Provisions (+) Change in Other Technical Reserves (Net of Reinsurer's Share and Reserves Carried Forward) (+/-) 47.5 ( ) ( ) 4- Operating Expenses (-) 31 and 32 ( ) ( ) C- Net Technical Income- Non-Life (A - B) D- Life Technical Income Earned Premiums (Net of Reinsurer's Share) Written Premiums (Net of Reinsurer's Share) 2.21 and Gross Written Premiums (+) Reinsurer s Share of Gross Written Premiums (-) 24 ( ) ( ) 1.2- Change in Unearned Premiums Reserve (Net of Reinsurer's Share and Reserves Carried Forward) (+/-) ( ) ( ) Unearned Premiums Reserve (-) ( ) ( ) Reinsurer s Share of Unearned Premiums Reserve (+) Change in Unexpired Risks Reserve (Net of Reinsurer's Share and Reserves Carried Forward) (+/-) Unexpired Risks Reserve (-) Reinsurer s Share of Unexpired Risks Reserve (+) Life Investment Income Unrealised Investment Income Other Technical Income - (Net of Reinsurer's Share) E- Life Technical Expense ( ) ( ) 1- Incurred Losses - (Net of Reinsurer's Share) ( ) ( ) 1.1- Paid Claims (Net of Reinsurer's Share) ( ) ( ) Gross Paid Claims (-) ( ) ( ) Reinsurer s Share of Gross Paid Claims (+) Change in Outstanding Claims (Net of Reinsurer's Share and Reserves Carried Forward) (+/-) ( ) ( ) Outstanding Claim Provisions (-) ( ) ( ) Reinsurer s Share of Outstanding Claim Provisions (+) Change in Bonus and Rebate Provision (Net of Reinsurer's Share and Reserves Carried Forward) (+/-) ( ) Bonus and Rebate Provisions (-) ( ) Reinsurer s Share of Bonus and Rebate Provisions (+) Change in Life Mathematical Reserves (Net of Reinsurer's Share and Reserves Carried Forward)(+/-) 47.5 ( ) Life Mathematical Reserves (-) ( ) Reinsurer s Share of Life Mathematical Reserves (+) Change in Provision for Policies at Life Insurees' Risk (Net of Reinsurer's Share and Reserves Carried Forward)(+/-) Provision for Life Policies at Insuree's Risk (-) Reinsurer s Share of Provision for Life Policies at Insuree's Risk (+) Change in Other Technical Reserves (Net of Reinsurer's Share and Reserves Carried Forward) (+/-) 47.1 and 47.5 ( ) ( ) 6- Operating Expenses (-) 31 ( ) ( ) 7- Investment Expenses (-) Unrealised Investment Expense (-) Investment Income Transferred to Non-Life Technical Part (-) - - F- Net Technical Income- Non-Life (D -E) G- Pension Funds Technical Income Fund Management Income Management Expense Charge Entrance Fee Income Management Expense Charge in case of Suspension Special Service Expense Charge Capital Allowance Value Increase Income Other Technical Income H- Pension Funds Technical Expense ( ) ( ) 1- Fund Management Expense (-) ( ) ( ) 2- Capital Allowance Value Decrease Expense (-) (17.205) - 3- Operating Expenses (-) 31 ( ) ( ) 4- Other Technical Expenses (-) 47.1 ( ) ( ) I- Net Technical Income - Pension Funds (G - H) The accompanying notes form an integral part of these consolidated financial statements. 6

11 CONVENIENCE TRANSLATION OF THE CONSOLIDATED STATEMENT OF INCOME FOR THE PERIOD 1 JANUARY - 31 DECEMBER 2011 II- NON-TECHNICAL PART Audited Audited Note C- Net Technical Income-Non-Life (A-B) F- Net Technical Income-Life (D-E) I- Net Technical Income-Pension Funds (G-H) J- Total Net Technical Income (C+F+I) K- Investment Income Income from Financial Investments Income from Sales of Financial Investments Valuation of Financial Investments Foreign Exchange Gains Income from Associates 26 and Income from Equity Subsidiaries and Joint-Ventures Income from Land and Buildings Income from Derivatives Other Investments Investment Income Transferred from Life Technical Part - - L- Investment Expense (-) ( ) ( ) 1- Investment Management Expenses (Interest incl.) (-) ( ) ( ) 2- Diminution in Value of Investments (-) (3.510) - 3- Loss from Realization of Financial Investments (-) 26 ( ) ( ) 4- Investment Income Transferred to Non-Life Technical Part (-) ( ) ( ) 5- Loss from Derivatives (-) ( ) - 6- Foreign Exchange Losses (-) ( ) ( ) 7- Depreciation Expenses (-) 6.1 ( ) ( ) 8- Other Investment Expenses (-) - - M- Income and Expenses from Other Operations and Extraordinary Operations (+/-) ( ) ( ) 1- Provisions (+/-) 47.5 ( ) ( ) 2- Rediscounts (+/-) 47.5 ( ) Special Insurance Account (+/-) Inflation Adjustment (+/-) Deferred Tax Assets (+/-) 35 and 47.5 ( ) Deferred Tax Liabilities Expenses (-) Other Income Other Expenses (-) 47.1 ( ) ( ) 9- Prior Year's Income Prior Year's Expenses (-) - - N- Net Profit/(Loss) for the Period Profit/(Loss) for the Period Corporate Tax Provision and Other Fiscal Liabilities (-) 35 and 47.5 ( ) ( ) 3- Net Profit/(Loss) for the Period Parent s Share Minority Interest Inflation Adjustment - - The accompanying notes form an integral part of these consolidated financial statements. 7

12 CONVENIENCE TRANSLATION OF THE CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE PERIOD 1 JANUARY - 31 DECEMBER 2011 Audited Audited Note A- CASH GENERATED FROM MAIN OPERATIONS 1- Cash flows from insurance operations Cash flows from reinsurance operations Cash flows from private pension funds operations Cash outflows from insurance operations (-) ( ) ( ) 5- Cash outflows from reinsurance operations (-) ( ) ( ) 6- Cash outflows from private pension funds operations (-) ( ) ( ) 7- Net Cash from main operations (A1+A2+A3-A4-A5-A6) Interest payment (-) Income tax payment (-) ( ) ( ) 10- Other cash inflows Other cash outflows (-) ( ) ( ) 12- Net cash provided by main operations ( ) B- CASH FLOWS FROM INVESTING OPERATIONS 1- Sale of tangible assets Tangible assets purchases (-) ( ) ( ) 3- Financial assets purchases (-) ( ) ( ) 4- Sales of financial assets Interest received Dividends received Other cash inflows Other cash outflows (-) Net Cash from investing activities C- CASH FLOWS FROM FINANCING OPERATIONS 1- Issue of shares Cash inflows due to the borrowings Leasing payments (-) Dividends paid (-) ( ) (19.432) 5- Other cash inflows Other cash outflows (-) Net cash used in financing activities ( ) (19.432) D- EFFECT OF EXCHANGE DIFFERENCES ON CASH ( ) AND CASH EQUIVALENTS E- Net increase in cash and cash equivalents F- Cash and cash equivalents at the beginning of the period G- Cash and cash equivalents at the end of the period (E+F) The accompanying notes form an integral part of these consolidated financial statements. 8

13 CONVENIENCE TRANSLATION OF THE CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY FOR THE PERIOD 1 JANUARY - 31 DECEMBER 2011 Statements of changes in Shareholders Equity - Audited (*) Inflation Foreign Other Net Own Shares Financial Adjustment Currency Reserves and Profit/ of the Assets Fair to the Share Translation Legal Statutory Retained (Loss) for Retained Equity holders Minority Capital Company (-) Value Reserve Capital Differences Reserves Reserves Profit the Period Earnings of the parent Interest Total I- Balances at the prior period end (31/12/2009) ( ) A- Capital Increase (A1 + A2)) Cash From Internal Resources B- Own Shares of the Company C- Gain and Losses Not Included - in the Income Statement (Note 15) - - ( ) ( ) 10 ( ) D- Value Increase in the Assets E- Foreign Currency Translation Differences F- Other Income and Losses G- Inflation Adjustments H- Net Profit for the Period (Note 37) I- Dividends Paid (Note 38) (19.431) (19.431) J- Transfer ( ) - ( ) II- Balances at the period end (31/12/2010) (I+A+B+C+D+E+F+G+H+I+J) ( ) I- Balances at the prior period end (31/12/2010) ( ) A- Capital Increase (A1 + A2)) Cash From Internal Resources B- Own Shares of the Company C- Gain and Losses Not Included - in the Income Statement (Note 15) - - ( ) ( ) (2.679) ( ) D- Value Increase in the Assets E- Foreign Currency Translation Differences F- Other Income and Losses G- Inflation Adjustments H- Net Profit for the Period (Note 37) I- Dividends Paid (Note 38) (217) - ( ) - ( ) (14.650) ( ) J- Transfer ( ) II- Balances at the period end (31/12/2011) (I+A+B+C+D+E+F+G+H+I+J) ( ) ( ) (*) Detailed explanations regarding the Shareholders Equity items are disclosed in Note 15. The accompanying notes form an integral part of these consolidated financial statements. 9

14 CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 DECEMBER General information 1.1 Name of the parent company: As of 31 December 2011 and 2010, the immediate parent of Yapı Kredi Sigorta A.Ş. ( The Company ) is Yapı ve Kredi Bankası A.Ş. and the ultimate parents are Koç Holding A.Ş. and Unicredit S.P.A.. The consolidated financial statements as of 31 December 2011 and 2010 include the accounts of Yapı Kredi Sigorta A.Ş., the parent company and its subsidiary Yapı Kredi Emeklilik A.Ş. ( The Subsidiary ) (collectively referred as the Group ). 1.2 Legal residence of the Company, its legal structure, the country of incorporation and the address of it s registered office: The Company was established on 24 December The headquarters of the Company is in Istanbul and it operates as a joint stock company at the address Yapı Kredi Plaza A Blok Büyükdere Cad Levent-İstanbul. The Company has Istanbul, Middle Anatolia, Marmara, South, Agean, Mediterranean, Bakırköy and Kadıköy regional offices. 1.3 Nature of operations: The Group mainly operates in fire, marine, accident, personal accident, engineering, agriculture, health, life insurance and pension branches. 1.4 Explanation of the activities and characteristics of main operations of the corporation: Disclosed in Notes 1.2 and Average number of employees during the period by category: 1 January - 1 January - 31 December December 2010 Top and middle management Other personnel Total Total salaries and benefits paid to the members of the Board of Directors, General Manager, General Coordinator, Assistant General Managers and other executive management during the current period: 1 January - 1 January - 31 December December 2010 Short Term Benefits Provided to Top and Middle Management Salary and other short term payments Bonuses Company pension plan Other benefits provided Total Provision for employee termination benefits in Balance Sheet Total Benefits Provided to Top and Middle Management

15 1. General information (Cont.) 1.7 Criteria set for the allocation of investment income and operating expenses (personnel, management, research and development, marketing and sales, outsourcing utilities and services and other operating expenses) in the financial statements: All the income that is generated by the Group investment of assets backing non-life technical reserve is transferred from non-technical to technical part. Other investment income is classified under non-technical part. Principals and procedures of the distribution key used in financial statements has been updated by the Undersecretariat of Treasury with the communiqé number 2010/9 which is in force starting from January 1, 2011The Group allocates general expenses transferred to technical part to branches based on the weighted average of the number of policies, amount of premium and number of claim notifications in last three years. The expenses allocated to insurance part are distributed to life and non-life parts by considering the average of ratio of policies produced in last 3 years with total number of policies produced, ratio of gross written premium in last 3 years with total gross written premium and ratio of amount of number of notified claims in last 3 years with total number of notified claims calculated for each part. Until January 1, 2011, distribution is made according to the distribution key defined in communiqé 2008/1 of Undersecretariat of Treasury. According to the communiqué the Company distributed operating expenses transferred to technical part initially to pension and insurance parts by considering the weighted average of number of private pension agreements, and number of policies issued in the last three years period. The expenses allocated to insurance part are distributed to life and non-life parts by considering the weighted average of number of policies issued, gross written premium amount and number of notified claims in the last three years. 1.8 Whether financial statements include only one firm or company of firms: The financial statements include the accounts of the Company and its subsidiary, Yapı Kredi Emeklilik A.Ş.. Detailed information of the Subsidiary is explained below: Legal residence of the Company, its legal structure, the country of incorporation and the address of its registered office: The Subsidiary is registered in Istanbul and the registered address of the Company s headquarters is Büyükdere Cad. Yapı Kredi Plaza A Blok Levent / Istanbul. Nature of operations: The main operation of the Subsidiary is to act in private pension fund system and, as a result of this activity, to prepare private pension contracts, to fulfil all transactions defined in the laws and regulations related with pension funds, and also to issue all kinds of group and individual life and personal accident policies in Turkey and foreign countries and to perform all related reinsurance transactions. The title of the Subsidiary, which was Yapı Kredi Yaşam Sigorta A.Ş. has changed as Yapı Kredi Emeklilik A.Ş. on 30 December The articles of association of the Subsidiary have been changed by the written approval No: dated 20 December 2002 of the Undersecreteriat of Treasury and the initial authorization No: dated 20 December 2002 of the Ministry of Trade and Industry. With this change, the Subsidiary has been entitled to act in private pension fund system, to issue private pension fund contracts and to fulfill all transactions defined in the laws and regulations related with pension funds. 1.9 Name and other identification information of the reporting firm and changes in this information since the previous balance sheet date: Name and other identification information of the Group are disclosed in Notes 1.1, 1.2, 1.3 and 1.8 and there are no changes in this information since the previous balance sheet date. 11

16 1. General information (Cont.) 1.10 Events occurred after the balance sheet date: Consolidated financial statements for the period 1 January - 31 December 2011 have been approved by the Board of Directors on 24 February The events occurred after the balance sheet dateare explained in Note Summary of significant accounting policies 2.1 Basis of preparation In accordance with the Capital Market Law part (VII.) article (a) of clause 50, insurance companies are subject to their specific legislation in respect of establishment, audit, supervision, accounting, financial statements and financial reporting standards. Therefore, the Group prepares its consolidated financial statements in accordance with the Insurance Law. 2. Summary of significant accounting policies (Cont.) numbered 5684 and the regulations issued for insurance and reinsurance companies by the Undersecretariat of Treasury ( The Treasury ). The financial statements are prepared in accordance with the Insurance Chart of Accounts included in the communiqué issued by the Treasury regarding the Insurance Chart of Accounts and Prospects, published in the Official Gazette (No:25686) dated 30 December 2004 (Insurance Accounting System Communiqué No.1). Content and the format of the financial statements prepared and explanations and notes thereof are determined in accordance with the Communiqué on Presentation of Financial Statements published in the Official Gazette numbered dated 18 April According to the Regulation on Financial Reporting of Insurance and Reinsurance Companies and Pension Companies issued on 14 July 2007 and effective from 1 January 2008, except for the communiqués which may be issued by the Treasury, operations of insurance companies shall be accounted for in accordance with the Turkish Accounting Standards ( TMS ) and the Turkish Financial Reporting Standards ( TFRS ) as issued by the Turkish Accounting Standards Board ( TMSK ) and other regulations, communiqués and explanations issued by the Treasury regarding accounting and financial reporting issues. With reference to the notice of the Treasury No. 9 dated 18 February 2008, TMS 1- Financial Statements and Presentation, TMS 27- Unconsolidated and Separate Financial Statements, TFRS 1 - Transition to TFRS and TFRS 4- Insurance Contracts have been scoped out of this application. In addition, the companies are obliged to comply with the Communiqué on the Preparation of the Consolidated Financial Statement of Insurance and Reinsurance Companies and Pension Companies" ( Consolidation Communiqué ) dated December 31, 2008 and published in official gazette numbered effective from March 31, The Group started to publish the consolidated financial statements since March 31, Consolidated financial statements were prepared on a TL and historical cost basis, being adjusted for inflation until December 31, 2004, other than the financial assets and derivatives which are measured at their fair values. 12

17 2. Summary of significant accounting policies (Cont.) In line with the decree of CMB dated 17 March 2005, the Treasury also announced that inflation accounting is not required effective from 1 January Based on the above mentioned notification of the Treasury, the Group has restated its financial statements as of December 31, 2004 in accordance with the regulations regarding Financial Reporting in Hyperinflationary Economies and not continued to apply standard No. 29 Financial Reporting in Hyperinflationary Economies issued by TMSK. The Group calculated insurance technical reserve and accounted for in the consolidated financial statements in accordance with the Regulation Regarding the Technical Reserves of Insurance, Reinsurance and Pension Companies and the Assets to which These Reserves are Invested dated 1 January 2008 and related legislations issued in accordance with Insurance Law numbered Accounting policies and measurement principles that are used in the preparation of the consolidated financial statements are explained in the notes from 2.3 to 2.25 below. New and amended standards and interpretations: The accounting policies adopted in preparation of the consolidated financial statements as at December 31, 2011 are consistent with those of the previous financial year, except for the adoption of new and amended IFRS and IFRIC interpretations effective as of 1 January The effects of these standards and interpretations on the Group s financial position and performance have been disclosed in the related paragraphs. The new standards, amendments and interpretations which are effective as at 1 January 2011 are as follows: IFRIC 14 IAS 19 The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction Prepayments of a Minimum Funding Requirement (Amended) The amendment removes an unintended consequence when an entity is subject to minimum funding requirements and makes an early payment of contributions to cover such requirements. The amendment permits a prepayment of future service cost by the entity to be recognised as a pension asset. The Group is not subject to minimum funding requirements, therefore the amendment of the interpretation has no effect on the financial position or performance of the Group. IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments This interpretation addresses the accounting treatment when there is a renegotiation between the entity and the creditor regarding the terms of a financial liability and the creditor agrees to accept the entity s equity instruments to settle the financial liability fully or partially. IFRIC 19 clarifies such equity instruments are consideration paid in accordance with paragraph 41 of IAS 39. As a result, the financial liability is derecognized and the equity instruments issued are treated as consideration paid to extinguish that financial liability. This interpretation does not apply when the creditor is acting in the capacity of a shareholder, in common control transactions or when the issue of equity shares was part of the original terms of the liability. The adoption of the interpretation did not have any impact on the financial position or performance of the Group. 13

18 2. Summary of significant accounting policies (Cont.) IAS 32 Financial Instruments: Presentation - Classifications on Rights Issues (Amended) The amendment alters the definition of a financial liability in IAS 32 to enable entities to classify rights issues and certain options or warrants as equity instruments. The amendment is applicable if the rights are given pro rata to all of the existing owners of the same class of an entity s non-derivative equity instruments, to acquire a fixed number of the entity s own equity instruments for a fixed amount in any currency. The amendment has no effect on the financial position or performance of the Group because the Group does not have these types of instruments. IAS 24 Related Party Disclosures (Revised) Amended standard clarified the definition of a related party to simplify the identification of such relationships and to eliminate inconsistencies in its application. In addition, the revised standard introduces a partial exemption of general disclosure requirements for transactions with governmentrelated entities. The adoption of the amendment did not have any impact on the financial position or performance of the Group. Improvements to IFRSs In May 2010 the IASB issued its third omnibus of amendments to its standards, primarily with a view to removing inconsistencies and clarifying wording. The adoption of the following amendments resulted in changes to accounting policies and disclosures, but no impact on the financial position or performance of the Group. There are separate transitional provisions for each standard. The amendments that are effective as at 1 January 2011 are as follows: IFRS 3 Business Combinations i) Transition requirements for contingent consideration from a business combination that occurred before the effective date of revised IFRS This improvement clarifies that the amendments to IFRS 7 Financial Instruments: Disclosures, IAS 32 Financial Instruments: Presentation and IAS 39 Financial Instruments: Recognition and Measurement, that eliminate the exemption for contingent consideration, do not apply to contingent consideration that arose from business combinations whose acquisition dates precede the application of IFRS 3 (as revised in 2008). ii) Measurement of non-controlling interests This improvement limits the scope of the measurement choices (fair value or at the present ownership instruments proportionate share of the acquiree s identifiable net assets) only to the components of non-controlling interest that are present ownership interests that entitle their holders to a proportionate share of the entity s net assets. iii) Unreplaced or voluntarily replaced share-based payment awards This improvement requires an entity (in a business combination) to account for the replacement of the acquiree s share-based payment transactions (whether obliged or voluntarily), i.e., split between consideration paid and post combination expenses. 14

19 2. Summary of significant accounting policies (Cont.) IFRS 7 Financial Instruments: Disclosures This improvement gives clarifications of disclosures required by IFRS 7 and emphasizes the interaction between quantitative and qualitative disclosures and the nature and extent of risks associated with financial instruments. Among others, the improvement remove the disclosure requirement of the collateral held as security and other credit enhancements and estimate of their fair value for financial assets that are past due but not impaired and that are individually impaired; and instead include a disclosure requirement of financial effect of collateral held as security and other credit enhancements for all financial assets. IAS 1 Presentation of Financial Statements This amendment clarifies that an entity will present an analysis of other comprehensive income for each component of equity, either in the statement of changes in equity or in the notes to the financial statements. IAS 27 Consolidated and Separate Financial Statements This improvement clarifies that the consequential amendments from IAS 27 made to IAS 21 The Effect of Changes in Foreign Exchange Rates, IAS 28 Investments in Associates and IAS 31 Interests in Joint Ventures apply prospectively for annual periods beginning on or after 1 July 2009 or earlier when IAS 27 is applied earlier. IAS 34 Interim Financial Reporting This improvement provides guidance to illustrate how to apply disclosure principles in IAS 34 and add disclosure requirements on i) the circumstances likely to affect fair values of financial instruments and their classification, ii) transfers of financial instruments between different levels of the fair value hierarchy, iii) changes in classification of financial assets, and iv) changes in contingent liabilities and assets. IFRIC 13 Customer Loyalty Programmes This improvement clarifies that when the fair value of award credits is measured based on the value of the awards for which they could be redeemed, the amount of discounts or incentives otherwise granted to customers not participating in the award credit scheme, is to be taken into account. Standards issued but not yet effective and not early adopted Standards, interpretations and amendments to existing standards that are issued but not yet effective up to the date of issuance of the consolidated financial statements are as follows. The Group will make the necessary changes if not indicated otherwise, which will be affecting the consolidated financial statements and disclosures, after the new standards and interpretations become in effect. 15

AvivaSA Emeklilik ve Hayat Anonim Şirketi

AvivaSA Emeklilik ve Hayat Anonim Şirketi BALANCE SHEET AS OF 31 DECEMBER 2015 ASSETS I- CURRENT ASSETS Notes 31 December 2015 31 December 2014 A- Cash and Cash Equivalents 14 447.814.449 394.414.565 1- Cash 14-142 2- Cheques Received 3- Banks

More information

AvivaSA Emeklilik ve Hayat Anonim Şirketi

AvivaSA Emeklilik ve Hayat Anonim Şirketi BALANCE SHEET AS OF 30 SEPTEMBER 2015 ASSETS Audited I- CURRENT ASSETS Note 31 December 2014 A- Cash and Cash Equivalents 14 431.210.641 394.414.565 1- Cash 14 603 142 2- Cheques Received - - 3- Banks

More information

ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ DETAILED BALANCE SHEET

ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ DETAILED BALANCE SHEET ASSETS I- Current Assets Audited Current Period Audited Previous Period A- Cash and Cash Equivalents 14 1.606.048.714 1.153.712.216 1- Cash 14 37.347 49.256 2- Cheques Received 3- Banks 14 1.356.733.446

More information

Anadolu Hayat Emeklilik Anonim Şirketi Consolidated Balance Sheet As At 31 December 2015 (Currency: Turkish Lira (TRY))

Anadolu Hayat Emeklilik Anonim Şirketi Consolidated Balance Sheet As At 31 December 2015 (Currency: Turkish Lira (TRY)) Consolidated Balance Sheet As At ASSETS I- Current Assets A- Cash and Cash Equivalents 14 302,999,458 216,428,429 1- Cash 14 3,385 27,952 2- Cheques Received 3- Banks 14 145,598,543 87,301,020 4- Cheques

More information

AvivaSA Emeklilik ve Hayat Anonim Şirketi BALANCE SHEET AS OF 31 MARCH 2015 (Amounts expressed in Turkish Lira ( TL) unless otherwise stated).

AvivaSA Emeklilik ve Hayat Anonim Şirketi BALANCE SHEET AS OF 31 MARCH 2015 (Amounts expressed in Turkish Lira ( TL) unless otherwise stated). BALANCE SHEET AS OF 31 MARCH 2015 ASSETS Audited I- CURRENT ASSETS Note 31 Mart 2015 31 Aralık 2014 A- Cash and Cash Equivalents 2.12, 14 410.052.299 394.414.565 1- Cash 14 799 142 2- Cheques Received

More information

Audited Prior Period 31 December 2014

Audited Prior Period 31 December 2014 As at ASSETS I- Current Assets A- Cash and Cash Equivalents 202.531.176 216.428.429 1- Cash 5.603 27.952 2- Cheques Received 3- Banks 49.703.075 87.301.020 4- Cheques Given and Payment Orders (31.536)

More information

GARANTİ EMEKLİLİK VE HAYAT ANONİM ŞİRKETİ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015

GARANTİ EMEKLİLİK VE HAYAT ANONİM ŞİRKETİ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015 GARANTİ EMEKLİLİK VE HAYAT ANONİM ŞİRKETİ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2015 68 garant pension annual report 2015 To the Board of Directors of Garanti Emeklilik ve Hayat A.Ş. Report

More information

ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ DETAILED BALANCE SHEET ASSETS

ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ DETAILED BALANCE SHEET ASSETS ASSETS ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ I- Current Assets Audited Current Audited Previous Period Period Notes 31/12/2015 31/12/2014 A- Cash and Cash Equivalents 14 2.304.904.212 1.606.048.714 1- Cash

More information

ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ DETAILED BALANCE SHEET. ASSETS Unaudited Current Audited Previous Dipnot I- Current Assets

ANADOLU ANONİM TÜRK SİGORTA ŞİRKETİ DETAILED BALANCE SHEET. ASSETS Unaudited Current Audited Previous Dipnot I- Current Assets ASSETS Unaudited Current Audited Previous Dipnot I- Current Assets A- Cash and Cash Equivalents 14 2.364.314.943 2.304.904.212 1- Cash 14 38.784 18.864 2- Cheques Received 3- Banks 14 1.961.058.269 1.937.834.876

More information

ASSETS Independent Limited Audited

ASSETS Independent Limited Audited ( ) I- Current Assets ASSETS A- Cash and Cash Equivalents 52.550.224 21.681.608 1- Cash 2.584 1.043 2- Cheques Received - - 3- Banks 45.038.608 18.087.148 4- Cheques Given and Payment Orders (-) - - 5-

More information

Current Period Current Period I- Current Assets

Current Period Current Period I- Current Assets BALANCE SHEET (Independent ) ASSETS I- Current Assets A- Cash and Cash Equivalents 21,681,608 22,641,606 1- Cash 1,043 2,356 2- Cheques Received - - 3- Banks 18,087,148 20,777,618 4- Cheques Given and

More information

AEGON EMEKLİLİK VE HAYAT A.Ş. DETAILED BALANCE SHEET (Independent Audited) ASSETS. Audited Current Period Current Period I- Current Assets

AEGON EMEKLİLİK VE HAYAT A.Ş. DETAILED BALANCE SHEET (Independent Audited) ASSETS. Audited Current Period Current Period I- Current Assets (Independent ) ASSETS I- Current Assets A- Cash and Cash Equivalents 28.327.786 38.018.697 1- Cash 3.924 3.419 2- Cheques Received 3- Banks 8.595.579 25.886.925 4- Cheques Given and Payment Orders (-)

More information

AEGON EMEKLİLİK VE HAYAT A.Ş. DETAILED BALANCE SHEET (Independent Unaudited) ASSETS. Current Period Current Period I- Current Assets

AEGON EMEKLİLİK VE HAYAT A.Ş. DETAILED BALANCE SHEET (Independent Unaudited) ASSETS. Current Period Current Period I- Current Assets (Independent ) ASSETS I- Current Assets A- Cash and Cash Equivalents 65,840,622 33,270,237 1- Cash 5,473 3,936 2- Cheques Received 3- Banks 37,175,261 6,888,908 4- Cheques Given and Payment Orders (-)

More information

AEGON EMEKLİLİK VE HAYAT A.Ş. DETAILED BALANCE SHEET (Independent Audited) ASSETS. Audited Current Period Current Period I- Current Assets

AEGON EMEKLİLİK VE HAYAT A.Ş. DETAILED BALANCE SHEET (Independent Audited) ASSETS. Audited Current Period Current Period I- Current Assets (Independent ) ASSETS I- Current Assets A- Cash and Cash Equivalents 33.270.237 28.327.786 1- Cash 3.936 3.924 2- Cheques Received 3- Banks 6.888.908 8.595.579 4- Cheques Given and Payment Orders (-) 5-Bank

More information

AEGON EMEKLİLİK VE HAYAT A.Ş. DETAILED BALANCE SHEET (Independent Limited Audited) ASSETS

AEGON EMEKLİLİK VE HAYAT A.Ş. DETAILED BALANCE SHEET (Independent Limited Audited) ASSETS (Independent Limited ) ASSETS I- Current Assets A- Cash and Cash Equivalents 55.519.200 55.076.635 1- Cash 1.879 5.469 2- Cheques Received - - 3- Banks 46.430.369 47.999.767 4- Cheques Given and Payment

More information

İŞ FACTORING FİNANSMAN HİZMETLERİ ANONİM ŞİRKETİ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008

İŞ FACTORING FİNANSMAN HİZMETLERİ ANONİM ŞİRKETİ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008 İŞ FACTORING FİNANSMAN HİZMETLERİ ANONİM ŞİRKETİ FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008 (Translated into English from the Original Turkish Report). CONVENIENCE TRANSLATION OF THE INDEPENDENT

More information

FINANCIAL STATEMENTS AS OF 31 DECEMBER 2013 AND INDEPENDENT AUDITOR S REPORT

FINANCIAL STATEMENTS AS OF 31 DECEMBER 2013 AND INDEPENDENT AUDITOR S REPORT AVİVASA EMEKLİLİK VE HAYAT ANONİM ŞİRKETİ FINANCIAL STATEMENTS AS OF 31 DECEMBER 2013 AND INDEPENDENT AUDITOR S REPORT Translated into English from The Original Turkish Report Table of contents Page Opinion

More information

ANADOLU HAYAT EMEKLİLİK A.Ş. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2009. Translated into English from The Original Turkish Report

ANADOLU HAYAT EMEKLİLİK A.Ş. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2009. Translated into English from The Original Turkish Report ANADOLU HAYAT EMEKLİLİK A.Ş. FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2009 Translated into English from The Original Turkish Report ANADOLU HAYAT EMEKLİLİK ANONİM ŞİRKETİ INDEPENDENT AUDITOR

More information

5. Provisions for decrease in value of marketable securities (-)

5. Provisions for decrease in value of marketable securities (-) Balance sheet ASSETS I. CURRENT ASSETS A. Liquid Assets: 1. Cash. 2. Cheques received. 3. Banks. 4. Cheques given and payment orders (-). 5. Other liquid assets. B. Marketable Securities: 1. Share certificates.

More information

1 st Year in Operations 1 st Rank in Life Insurance Premium

1 st Year in Operations 1 st Rank in Life Insurance Premium Contents 1 st Year in Operations 1 st Rank in Life Insurance Premium Summary of 2010 Annual Report and Independent Auditor s Report INTRODUCTION 2 General Information, Corporate Profile and Shareholders

More information

MİGROS TİCARET ANONİM ŞİRKETİ

MİGROS TİCARET ANONİM ŞİRKETİ CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 31 DECEMBER 2009 TOGETHER WITH INDEPENDENT AUDITOR S REPORT (ORIGINALLY ISSUED IN TURKISH) CONVENIENCE

More information

KİLER ALIŞVERİŞ HİZMETLERİ GIDA SANAYİ VE TİCARET A.Ş. CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 01.01. 31.12.

KİLER ALIŞVERİŞ HİZMETLERİ GIDA SANAYİ VE TİCARET A.Ş. CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 01.01. 31.12. KİLER ALIŞVERİŞ HİZMETLERİ GIDA SANAYİ VE TİCARET A.Ş. CONSOLIDATED FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED 01.01. 31.12.2012 TOGETHER WITH AUDITOR S REPORT KİLER ALIŞVERİŞ HİZMETLERİ GIDA SANAYİ

More information

LİDER FAKTORİNG A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2015 TOGETHER WITH INDEPENDENT AUDITOR S REPORT

LİDER FAKTORİNG A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2015 TOGETHER WITH INDEPENDENT AUDITOR S REPORT FINANCIAL STATEMENTS AT TOGETHER WITH INDEPENDENT AUDITOR S REPORT FINANCIAL STATEMENTS AT CONTENTS PAGES STATEMENT OF FINANCIAL POSITION... 1 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME...

More information

Financial Statements

Financial Statements ATB INSURANCE ADVISORS INC. Financial Statements Year Ended March 31, 2015 Independent Auditor s Report.... 442 Statement of Financial Position..................... 443 Statement of Changes in Equity....

More information

KOREAN AIR LINES CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements

KOREAN AIR LINES CO., LTD. AND SUBSIDIARIES. Consolidated Financial Statements Consolidated Financial Statements December 31, 2015 (With Independent Auditors Report Thereon) Contents Page Independent Auditors Report 1 Consolidated Statements of Financial Position 3 Consolidated Statements

More information

NET TURİZM TİCARET VE SANAYİ ANONİM ŞİRKETİ AND IT S SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT FOR THE PERIOD

NET TURİZM TİCARET VE SANAYİ ANONİM ŞİRKETİ AND IT S SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT FOR THE PERIOD NET TURİZM TİCARET VE SANAYİ ANONİM ŞİRKETİ AND IT S SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT NET TURİZM TİCARET VE SANAYİ ANONİM ŞİRKETİ CONTENTS PAGE CONSOLIDATED

More information

EKO FAKTORİNG A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2012 TOGETHER WITH INDEPENDENT AUDITOR S REPORT

EKO FAKTORİNG A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2012 TOGETHER WITH INDEPENDENT AUDITOR S REPORT FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITOR S REPORT FINANCIAL STATEMENTS CONTENTS PAGES BALANCE SHEET (STATEMENT OF FINANCIAL POSITION)... 1 STATEMENT OF COMPREHENSIVE INCOME... 2 STATEMENT

More information

NET TURIZM TİCARET VE SANAYİ ANONİM ŞİRKETİ AND IT S SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED AT 31 MARCH 2015

NET TURIZM TİCARET VE SANAYİ ANONİM ŞİRKETİ AND IT S SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED AT 31 MARCH 2015 NET TURIZM TİCARET VE SANAYİ ANONİM ŞİRKETİ AND IT S SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS NET TURİZM TİCARET VE SANAYİ ANONİM ŞİRKETİ CONTENTS PAGE CONSOLIDATED BALANCE SHEETS 1-2 CONSOLIDATED

More information

DESTEK FINANS FAKTORING A.Ş. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2005

DESTEK FINANS FAKTORING A.Ş. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2005 DESTEK FINANS FAKTORING A.Ş. AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER To the Board of Directors of DESTEK FINANS FAKTORING A.Ş. İstanbul INDEPENDENT AUDITOR S REPORT 1. We have

More information

Address: 296, Jen Ai Road, Sec. 4, Taipei, Taiwan, R.O.C. Telephone: 886-2-2755-1399

Address: 296, Jen Ai Road, Sec. 4, Taipei, Taiwan, R.O.C. Telephone: 886-2-2755-1399 Consolidated Statements For The Years Ended 2013 and With Independent Auditors Report The reader is advised that these financial statements have been prepared originally in Chinese. These financial statements

More information

CEZ GROUP CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS OF DECEMBER 31, 2010

CEZ GROUP CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS OF DECEMBER 31, 2010 CEZ GROUP CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS OF DECEMBER 31, 2010 TOGETHER WITH INDEPENDENT AUDITOR S REPORT INDEPENDENT AUDITOR'S

More information

Factoring Finansman Hizmetleri Anonim irketi

Factoring Finansman Hizmetleri Anonim irketi Factoring Finansman Hizmetleri Anonim irketi Financial Statements As at and for the Year Ended 31 December 2011 With Independent Auditors' Report {Convenience Translation of Financial Statements and Related

More information

Jollibee Foods Corporation and Subsidiaries

Jollibee Foods Corporation and Subsidiaries Jollibee Foods Corporation and Subsidiaries Consolidated Financial Statements December 31, 2013 and 2012 and Years Ended December 31, 2013, 2012 and 2011 and Independent Auditors Report SyCip Gorres Velayo

More information

CEZ GROUP CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS OF DECEMBER 31, 2011

CEZ GROUP CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS OF DECEMBER 31, 2011 CEZ GROUP CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS AS OF DECEMBER 31, 2011 TOGETHER WITH INDEPENDENT AUDITOR S REPORT INDEPENDENT AUDITOR'S

More information

EKO FAKTORİNG A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2013 TOGETHER WITH INDEPENDENT AUDITOR S REPORT

EKO FAKTORİNG A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2013 TOGETHER WITH INDEPENDENT AUDITOR S REPORT FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITOR S REPORT FINANCIAL STATEMENTS CONTENTS PAGES BALANCE SHEET (STATEMENT OF FINANCIAL POSITION)... 1 STATEMENT OF COMPREHENSIVE INCOME... 2 STATEMENT

More information

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS OF 30 SEPTEMBER 2009

TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS OF 30 SEPTEMBER 2009 CONVENIENCE TRANSLATION OF REPORT AND FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH TÜRK HAVA YOLLARI ANONİM ORTAKLIĞI AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AS OF 30 SEPTEMBER 2009

More information

Transition to International Financial Reporting Standards

Transition to International Financial Reporting Standards Transition to International Financial Reporting Standards Topps Tiles Plc In accordance with IFRS 1, First-time adoption of International Financial Reporting Standards ( IFRS ), Topps Tiles Plc, ( Topps

More information

462 IBN18 (MAURITIUS) LIMITED. IBN18 (Mauritius) Limited

462 IBN18 (MAURITIUS) LIMITED. IBN18 (Mauritius) Limited 462 IBN18 (MAURITIUS) LIMITED IBN18 (Mauritius) Limited IBN18 (MAURITIUS) LIMITED 463 Independent Auditors Report Independent Auditors Report to the member of IBN18 (Mauritius) Limited Report on the Financial

More information

Management's Responsibility for the Financial Statements

Management's Responsibility for the Financial Statements AIRA Factoring Public Company Limited Report and financial statements 31 December 2012 Independent Auditor's Report To the Shareholders of AIRA Factoring Public Company Limited I have audited the financial

More information

OMAN INSURANCE COMPANY P.S.C. AND SUBSIDIARIES. Consolidated financial statements and independent auditor s report for the year ended 31 December 2013

OMAN INSURANCE COMPANY P.S.C. AND SUBSIDIARIES. Consolidated financial statements and independent auditor s report for the year ended 31 December 2013 OMAN INSURANCE COMPANY P.S.C. AND SUBSIDIARIES Consolidated financial statements and independent auditor s report for the year ended 31 December 2013 OMAN INSURANCE COMPANY P.S.C. AND SUBSIDIARIES Contents

More information

LİDER FAKTORİNG HİZMETLERİ A.Ş. FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITOR S REPORT AT 31 DECEMBER 2012

LİDER FAKTORİNG HİZMETLERİ A.Ş. FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITOR S REPORT AT 31 DECEMBER 2012 FINANCIAL STATEMENTS TOGETHER WITH INDEPENDENT AUDITOR S REPORT AT 31 DECEMBER 2012 INDEX TO FINANCIAL STATEMENTS AT 31 DECEMBER 2012 CONTENTS PAGE BALANCE SHEET (STATEMENT OF FINANCIAL POSITION)...

More information

Global Menkul Değerler Anonim Şirketi and Its Affiliates

Global Menkul Değerler Anonim Şirketi and Its Affiliates Global Menkul Değerler Anonim Şirketi and Its Affiliates Consolidated Financial Statements for the Year Ended December 31, 2014 Together with Auditor s Report Legal Bağımsız Denetim Yeminli Mali Müşavirlik

More information

WAM ACQUISITION, S.A.

WAM ACQUISITION, S.A. CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR THE YEARS ENDED ASSETS 31/12/2009 31/12/2008 31/12/2007 Tangible assets (note 7) Land and buildings 87,200 87,870 90,327 Data processing hardware and software

More information

Model financial statements for the year ended 30 June 2011

Model financial statements for the year ended 30 June 2011 Model financial statements for the year ended Illustrative example of general purpose financial statements prepared in accordance with the Financial Reporting Act 1993, the Companies Act 1993, applying

More information

STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION. BALANCE SHEET As of

STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION. BALANCE SHEET As of STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION BALANCE SHEET As of ASSETS CURRENT ASSETS Cash and Cash Equivalents Cash - Restricted Accounts Receivable - Trade Accounts Receivable

More information

Consolidated Balance Sheets

Consolidated Balance Sheets Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:

More information

TURKISH BANK A.Ş. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008

TURKISH BANK A.Ş. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008 CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2008 To the Board of Directors of Turkish Bank A.Ş. Đstanbul INDEPENDENT AUDITOR S REPORT We have audited the accompanying consolidated

More information

Consolidated financial statements of MTY Food Group Inc. November 30, 2015 and 2014

Consolidated financial statements of MTY Food Group Inc. November 30, 2015 and 2014 Consolidated financial statements of MTY Food Group Inc. Independent auditor s report...1 2 Consolidated statements of income... 3 Consolidated statements of comprehensive income... 4 Consolidated statements

More information

Germania Mutual Insurance Company Financial Statements For the year ended December 31, 2014

Germania Mutual Insurance Company Financial Statements For the year ended December 31, 2014 Germania Mutual Insurance Company Financial Statements For the year ended Financial Statements For the year ended Table of Contents Page Independent Auditor's Report 2 Statement of Financial Position 3

More information

IFrS. Disclosure checklist. July 2011. kpmg.com/ifrs

IFrS. Disclosure checklist. July 2011. kpmg.com/ifrs IFrS Disclosure checklist July 2011 kpmg.com/ifrs Contents What s new? 1 1. General presentation 2 1.1 Presentation of financial statements 2 1.2 Changes in equity 12 1.3 Statement of cash flows 13 1.4

More information

AKDENİZ GÜVENLİK HİZMETLERİ A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH AS OF

AKDENİZ GÜVENLİK HİZMETLERİ A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH AS OF AKDENİZ GÜVENLİK HİZMETLERİ A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH AS OF 01.01-30.06.2012 TOGETHER WITH INDEPENDENT AUDITORS REPORT

More information

European Bank for Reconstruction and Development

European Bank for Reconstruction and Development European Bank for Reconstruction and Development The Municipal Finance Facility Special Fund Annual Financial Report 31 December 2009 European Bank for Reconstruction and Development The Municipal Finance

More information

AKDENİZ GÜVENLİK HİZMETLERİ A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH AS OF

AKDENİZ GÜVENLİK HİZMETLERİ A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH AS OF AKDENİZ GÜVENLİK HİZMETLERİ A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH AS OF 01.01-30.09.2012 TOGETHER WITH INDEPENDENT AUDITORS REPORT

More information

PDF created with pdffactory Pro trial version www.pdffactory.com

PDF created with pdffactory Pro trial version www.pdffactory.com EFESAN DEMİR SANAYİ VE TİCARET A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2011 TOGETHER WITH AUDITOR S REPORT BALANCE SHEETS AS OF 31.12.2011 AND 2010 (Amounts translated into US Dollars at the respective

More information

The accompanying notes are an integral part of these financial statements. 1

The accompanying notes are an integral part of these financial statements. 1 CONTENTS PAGE Statement of Financial Position (Balance Sheet) 1-2 Statement of off-balance sheet items 3 Statement of profit or loss 4 Statement of profit or loss and other comprehensive income 5 Statement

More information

TÜRK EKONOMİ BANKASI ANONİM ŞİRKETİ CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013

TÜRK EKONOMİ BANKASI ANONİM ŞİRKETİ CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013 TÜRK EKONOMİ BANKASI ANONİM ŞİRKETİ CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2013 INDEPENDENT AUDITOR S REPORT To the Board of Directors of Türk Ekonomi Bankası A.Ş. 1. We have

More information

EFESAN DEMİR SANAYİ VE TİCARET A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2010 TOGETHER WITH AUDITOR S REPORT

EFESAN DEMİR SANAYİ VE TİCARET A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2010 TOGETHER WITH AUDITOR S REPORT EFESAN DEMİR SANAYİ VE TİCARET A.Ş. FINANCIAL STATEMENTS AT 31 DECEMBER 2010 TOGETHER WITH AUDITOR S REPORT BALANCE SHEETS AS OF 31.12.2010 AND 2009 (Amounts translated into US Dollars at the respective

More information

FUBON LIFE INSURANCE CO., LTD. AND SUBSIDIARIES. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS JUNE 30, 2013 and 2012

FUBON LIFE INSURANCE CO., LTD. AND SUBSIDIARIES. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS JUNE 30, 2013 and 2012 FUBON LIFE INSURANCE CO., LTD. AND SUBSIDIARIES CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS JUNE 30, 2013 and 2012 (with Independent Auditors Report Thereon) Address: 14F, No. 108, Sec. 1, Tun

More information

CSCBANK S.A.L. (FORMERLY CREDITCARD SERVICES COMPANY S.A.L.)

CSCBANK S.A.L. (FORMERLY CREDITCARD SERVICES COMPANY S.A.L.) CSCBANK S.A.L. (FORMERLY CREDITCARD SERVICES COMPANY S.A.L.) CONSOLIDATED FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT YEAR ENDED DECEMBER 31, 2010 CSCBANK S.A.L. (FORMERLY CREDITCARD SERVICES

More information

Annual Report 2009 Financial Information

Annual Report 2009 Financial Information Annual Report 2009 Financial Information Financial Information 2009 Contents 01 Chief Executive Officer and Chief Financial Officer s Responsibility Statement 02 2009 Consolidated Financial Statements

More information

Girişim Faktoring Anonim Şirketi

Girişim Faktoring Anonim Şirketi Girişim Faktoring Anonim Şirketi Financial Information As of and For the Year Ended 31 December 2007 With Independent Auditor s Report Thereon Table of contents Independent auditors report Balance sheet

More information

EGELİ & CO TARIM GİRİŞİM SERMAYESİ YATIRIM ORTAKLIĞI A.Ş. (Formerly known as Egeli & Co Yatırım Ortaklığı A.Ş. )

EGELİ & CO TARIM GİRİŞİM SERMAYESİ YATIRIM ORTAKLIĞI A.Ş. (Formerly known as Egeli & Co Yatırım Ortaklığı A.Ş. ) EGELİ & CO TARIM GİRİŞİM SERMAYESİ YATIRIM ORTAKLIĞI A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF FINANCIAL STATEMENTS FOR THE PERIOD 1 JANUARY - 31 DECEMBER 2011 TOGETHER WITH INDEPENDENT AUDITORS REPORT

More information

A&W Food Services of Canada Inc. Consolidated Financial Statements December 30, 2012 and January 1, 2012 (in thousands of dollars)

A&W Food Services of Canada Inc. Consolidated Financial Statements December 30, 2012 and January 1, 2012 (in thousands of dollars) A&W Food Services of Canada Inc. Consolidated Financial Statements December 30, and January 1, (in thousands of dollars) February 12, 2013 Independent Auditor s Report To the Shareholders of A&W Food Services

More information

Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended December 31, 2014 and 2013 and Independent Auditors Report

Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended December 31, 2014 and 2013 and Independent Auditors Report Shin Kong Investment Trust Co., Ltd. Financial Statements for the Years Ended, 2014 and 2013 and Independent Auditors Report INDEPENDENT AUDITORS REPORT The Board of Directors and stockholder Shin Kong

More information

WIPRO DOHA LLC FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED MARCH 31, 2016

WIPRO DOHA LLC FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED MARCH 31, 2016 WIPRO DOHA LLC FINANCIAL STATEMENTS AS AT AND FOR THE YEAR ENDED MARCH 31, 2016 WIPRO DOHA LLC BALANCE SHEET (Amount in ` except share and per share data, unless otherwise stated) As at March 31, 2016

More information

MATRIX IT LTD. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS

MATRIX IT LTD. AND ITS SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2013 CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2013 NIS IN THOUSANDS INDEX Page Auditors' Reports 2-4 Consolidated Statements of Financial

More information

Halwell Mutual Insurance Company Financial Statements For the year ended December 31, 2014

Halwell Mutual Insurance Company Financial Statements For the year ended December 31, 2014 Financial Statements For the year ended Contents Independent Auditor's Report 2 Financial Statements Statement of Financial Position 3 Statement of Comprehensive Income 4 Statement of Members Surplus 5

More information

Summary of Significant Accounting Policies FOR THE FINANCIAL YEAR ENDED 31 MARCH 2014

Summary of Significant Accounting Policies FOR THE FINANCIAL YEAR ENDED 31 MARCH 2014 46 Unless otherwise stated, the following accounting policies have been applied consistently in dealing with items which are considered material in relation to the financial statements. The Company and

More information

IFRS. Disclosure checklist. August 2012. kpmg.com/ifrs

IFRS. Disclosure checklist. August 2012. kpmg.com/ifrs IFRS Disclosure checklist August 2012 kpmg.com/ifrs Contents About this publication 1 What s new? 2 The Checklist 3 1. General presentation 3 1.1 Presentation of financial statements 3 1.2 Changes in equity

More information

ATHENS MEDICAL CENTER S.A.

ATHENS MEDICAL CENTER S.A. ATHENS MEDICAL CENTER S.A. INTERIM FINANCIAL STATEMENTS FOR THE PERIOD ENDED SEPTEMBER 30, IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) It is certified that the attached interim

More information

Volex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1.

Volex Group plc. Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement. 1. Volex Group plc Transition to International Financial Reporting Standards Supporting document for 2 October 2005 Interim Statement 1. Introduction The consolidated financial statements of Volex Group plc

More information

THE YARMOUTH MUTUAL FIRE INSURANCE COMPANY Financial Statements For the year ended December 31, 2014

THE YARMOUTH MUTUAL FIRE INSURANCE COMPANY Financial Statements For the year ended December 31, 2014 Financial Statements For the year ended Financial Statements For the year ended Table of Contents Page Independent Auditor's Report 2 Statement of Financial Position 3 Statement of Comprehensive Income

More information

3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS

3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS 3. CONSOLIDATED QUARTERLY FINANCIAL STATEMENTS (1) Consolidated Quarterly Balance Sheets September 30, 2014 and March 31, 2014 Supplementary Information 2Q FY March 2015 March 31, 2014 September 30, 2014

More information

ARM Holdings plc Consolidated balance sheet - IFRS

ARM Holdings plc Consolidated balance sheet - IFRS ARM Holdings plc Consolidated balance sheet - IFRS 30 June 31 December 2010 2009 Unaudited Audited 000 000 Assets Current assets: Financial assets: Cash and cash equivalents 53,746 34,489 Short-term investments

More information

Near East Bank Limited And its Subsidiary. Consolidated financial statements as at and for the year ended December 31, 2012

Near East Bank Limited And its Subsidiary. Consolidated financial statements as at and for the year ended December 31, 2012 Near East Bank Limited And its Subsidiary Consolidated financial statements as at and for the year ended 2012 Consolidated statement of income...1 Consolidated statement of comprehensive income......2

More information

REGULATION ON MEASUREMENT AND ASSESSMENT OF CAPITAL REQUIREMENTS OF INSURANCE AND REINSURANCE COMPANIES AND PENSION COMPANIES

REGULATION ON MEASUREMENT AND ASSESSMENT OF CAPITAL REQUIREMENTS OF INSURANCE AND REINSURANCE COMPANIES AND PENSION COMPANIES REGULATION ON MEASUREMENT AND ASSESSMENT OF CAPITAL REQUIREMENTS OF INSURANCE AND REINSURANCE COMPANIES AND PENSION COMPANIES Official Gazette of Publication: 19.01.2008 26761 Issued By: Prime Ministry

More information

SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2011

SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS. Year ended December 31, 2011 SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS Year ended SAMPLE MANUFACTURING COMPANY LIMITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended The information contained in

More information

Consolidated Financial Statements 30 September 2011 With Report on Review of Interim Financial Information Thereon

Consolidated Financial Statements 30 September 2011 With Report on Review of Interim Financial Information Thereon Türkiye Garanti Bankası Anonim Şirketi And Its Affiliates Consolidated Financial Statements 30 September 2011 With Report on Review of Interim Financial Information Thereon 3 November 2011 This report

More information

Financial Statements

Financial Statements ATB INVESTMENT MANAGEMENT INC. Financial Statements Year Ended March 31, 2015 Independent Auditor s Report.... 462 Statement of Financial Position.... 464 Statement of Changes in Equity... 465 Statement

More information

Cathay Life Insurance Co., Ltd. Financial Statements As of December 31, 2006 and 2007 With Independent Auditors Report

Cathay Life Insurance Co., Ltd. Financial Statements As of December 31, 2006 and 2007 With Independent Auditors Report Financial Statements With Independent Auditors Report The reader is advised that these financial statements have been prepared originally in Chinese. These financial statements do not include additional

More information

Consolidated Financial Statements. FUJIFILM Holdings Corporation and Subsidiaries. March 31, 2015 with Report of Independent Auditors

Consolidated Financial Statements. FUJIFILM Holdings Corporation and Subsidiaries. March 31, 2015 with Report of Independent Auditors Consolidated Financial Statements FUJIFILM Holdings Corporation and Subsidiaries March 31, 2015 with Report of Independent Auditors Consolidated Financial Statements March 31, 2015 Contents Report of Independent

More information

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) 3. Condensed Consolidated Balance Sheet 4

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) 3. Condensed Consolidated Balance Sheet 4 CONSOLIDATED FINANCIAL STATEMENTS For the fiscal year ended March 31, 2014 INDEX Page Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) 3 Condensed Consolidated Balance Sheet

More information

Statutory Financial Statements

Statutory Financial Statements Statutory Financial Statements for the year ended December 31, 2007 by Kardan NV, Amsterdam, the Netherlands Consolidated IFRS Financial Statements Consolidated IFRS Balance Sheet 54 Consolidated IFRS

More information

VESTEL BEYAZ EŞYA SANAYİ VE TİCARET ANONİM ŞİRKETİ FINANCIAL STATEMENTS AT 31 DECEMBER 2009 TOGETHER WITH AUDITORS REPORT

VESTEL BEYAZ EŞYA SANAYİ VE TİCARET ANONİM ŞİRKETİ FINANCIAL STATEMENTS AT 31 DECEMBER 2009 TOGETHER WITH AUDITORS REPORT VESTEL BEYAZ EŞYA SANAYİ VE TİCARET ANONİM ŞİRKETİ FINANCIAL STATEMENTS AT 31 DECEMBER 2009 TOGETHER WITH AUDITORS REPORT INDEPENDENT AUDITOR S REPORT To the Shareholders and Board of Directors of Vestel

More information

BANCO COOPERATIVO ESPAÑOL AND SUBSIDIARIES

BANCO COOPERATIVO ESPAÑOL AND SUBSIDIARIES BANCO COOPERATIVO ESPAÑOL AND SUBSIDIARIES Notes to the consolidated annual accounts prepared in accordance with the Spanish Companies Act and Spanish Code of Commerce Consolidated annual accounts authorised

More information

Consolidated Balance Sheets March 31, 2001 and 2000

Consolidated Balance Sheets March 31, 2001 and 2000 Financial Statements SEIKAGAKU CORPORATION AND CONSOLIDATED SUBSIDIARIES Consolidated Balance Sheets March 31, 2001 and 2000 Assets Current assets: Cash and cash equivalents... Short-term investments (Note

More information

NOTES TO THE FINANCIAL STATEMENTS

NOTES TO THE FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS 1 SIGNIFICANT ACCOUNTING POLICIES (a) Statement of compliance These financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting

More information

Philippine Financial Reporting Standards (Adopted by SEC as of December 31, 2011)

Philippine Financial Reporting Standards (Adopted by SEC as of December 31, 2011) Standards (Adopted by SEC as of December 31, 2011) Philippine Financial Reporting Framework for the Preparation and Presentation of Financial Statements Conceptual Framework Phase A: Objectives and qualitative

More information

ILLUSTRATIVE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2013 International Financial Reporting Standards

ILLUSTRATIVE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2013 International Financial Reporting Standards ILLUSTRATIVE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2013 International Financial Reporting Standards 2 A Layout (International) Group Ltd Annual report and financial statements For the year ended

More information

BEYAZ FİLO OTO KİRALAMA A.Ş.

BEYAZ FİLO OTO KİRALAMA A.Ş. CONVENIENCE TRANSLATION INTO ENGLISH OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 JANUARY- 31 DECEMBER 2011 TOGETHER WITH INDEPENDENT AUDITOR S REPORT (ORIGINALLY ISSUED IN TURKISH) CONVENIENCE

More information

In addition, Outokumpu has adopted the following amended standards as of January 1, 2009:

In addition, Outokumpu has adopted the following amended standards as of January 1, 2009: 1. Corporate information Outokumpu Oyj is a Finnish public limited liability company organised under the laws of Finland and domiciled in Espoo. The parent company, Outokumpu Oyj, has been listed on the

More information

BANCO COOPERATIVO ESPAÑOL, S.A. AND SUBSIDIARIES. Consolidated Annual Accounts and Directors Report. 31 December 2010. (With Auditors Report Thereon)

BANCO COOPERATIVO ESPAÑOL, S.A. AND SUBSIDIARIES. Consolidated Annual Accounts and Directors Report. 31 December 2010. (With Auditors Report Thereon) BANCO COOPERATIVO ESPAÑOL, S.A. AND SUBSIDIARIES Consolidated Annual Accounts and Directors Report 31 December 2010 (With Auditors Report Thereon) (Free translation from the original in Spanish. In the

More information

(unaudited expressed in Canadian Dollars)

(unaudited expressed in Canadian Dollars) Condensed Consolidated Interim Financial Statements of CARGOJET INC. For the three month periods ended (unaudited expressed in Canadian Dollars) This page intentionally left blank Condensed Consolidated

More information

HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2013

HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2013 HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2013 HARMONIC DRIVE SYSTEMS INC. AND CONSOLIDATED SUBSIDIARIES CONSOLIDATED BALANCE SHEETS ASSETS

More information

MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006

MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 2005 2006 ASSETS Investments - other than investments in affiliates: Securities available for sale: Fixed maturities, at fair value 3,043,851 3,193,503

More information

Consolidated financial statements

Consolidated financial statements Summary of significant accounting policies Basis of preparation DSM s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted

More information

Adviser alert Example Consolidated Financial Statements 2012

Adviser alert Example Consolidated Financial Statements 2012 Adviser alert Example Consolidated Financial Statements 2012 October 2012 Overview The Grant Thornton International IFRS team has published the 2012 version of the Reporting under IFRS: Example Consolidated

More information

Financial statements: contents

Financial statements: contents Section 5 Financial statements 115 Financial statements: contents Consolidated financial statements Independent auditors report to the members of Pearson plc 116 Consolidated income statement 123 Consolidated

More information

3 4 5 6 FINANCIAL SECTION Five-Year Summary (Consolidated) TSUKISHIMA KIKAI CO., LTD. and its consolidated subsidiaries Years ended March 31 (Note 1) 2005 2004 2003 2002 2001 2005 For the year: Net sales...

More information

VAKIF FİNANS FACTORİNG HİZMETLERİ ANONİM ŞİRKETİ

VAKIF FİNANS FACTORİNG HİZMETLERİ ANONİM ŞİRKETİ CONVENIENCE TRANSLATION INTO ENGLISH OF FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2014 TOGETHER WITH INDEPENDENT AUDITOR S REPORT ORIGINALLY ISSUED IN TURKISH CONVENIENCE TRANSLATION INTO ENGLISH

More information