Remuneration provided to Board of Directors and Senior Management:

The total value of rights and material benefits provided to members of the board of directors and senior management in 2017 amounted to TL 9,890,000. The total value of cash and non-cash benefits consisting of allowances, travel, accommodation and representation expenses, insurance and similar guarantees provided to the Board of Directors amounted to TL 212,000; the sum provided to members of the Senior Management amounted to TL 604,000.

Duty of Loyalty Report:

Pursuant to Article 199 of the Turkish Commercial Code, Law number 6102, it has been concluded that in the situations and conditions to the best of our knowledge at the time of the transaction or at the time of the countermeasure taken-or-avoided, there was admissible substitution in all the transactions made in 2017 between Türkiye Finans Participation Bank Inc. and the controlling partner, the affiliates of the controlling partner and affiliates of Türkiye Finans Participation Bank Inc., and no counter measures were taken or avoided that might cause a loss to the company, and in this regard, there were no transactions or countermeasures that would necessitate balancing.

Special Audits, Public Authority Audits:

In accordance with the relevant legislation which applies to our Bank, regular inspections are carried out in our Bank by supervisory authorities such as the BRSA, the Ministry of Finance and the Central Bank of Turkey and Ministry of Labour and Social Security. There were no shareholder requests for special audits during 2017.

Administrative and Judicial Sanctions:

No judicial or administrative rulings and/or investigations of sanction were applied against the company or the members of the board of directors in association with any practices contravening the provisions of the legislation.

In 2017, a total of TL 140,000 in administrative penalties were imposed against the Bank by regulatory and supervisory authorities. 

Investments and Incentives:

In 2016, our Bank invested a total of TL 224 million, of which TL 42 million was invested in intangible fixed assets and TL 182 million into tangible fixed assets. Most of the investments in tangible fixed asset were connected with the New Head Office building located in Ümraniye/ İstanbul.

Türkiye Finans was given authorisation to set up an R&D Center in 2017. A total of TL 11 million in investment was carried out within the scope of R&D Center activities. Our activities have continued on a project basis. The grant of TL 370,000 was obtained for our R&D activities, which were supported by TÜBİTAK.

Charitable Assistance and Donations:

No expenditures were recorded within the framework of donations, assistance or social responsibility in 2017.

Shares that the Bank Has Acquired in Itself:

There are no shares which the Bank has acquired in itself.

Information on legal action filed against the Bank, which may affect the Financial Status and operations of the Bank, and their possible results:

No legal action that may affect the financial status or operations of the Bank was taken against the Bank in 2017.

Highlights after Annual Period:

The Communiqué for Changing the Communiqué related to the decision number 32 about the Protection of the Value of Turkish Currency was published in Issue 30312 of the Official Gazette on January 25th, 2018. The effective date of the communique is May 2nd, 2018. Measures were taken regarding foreign currency credits obtained from Turkey and abroad by persons settled in Turkey. This arrangement will affect foreign currency credit operations which will be carried out after May 2nd, 2018.