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60 A&T BANK ANNUAL REPORT 2015
OTHER REGULATORY EXPLANATIONS
Prior Period’s Specified
Objectives, Implementation of
General Assembly Resolutions
The Bank reached the financial
targets set for the year 2015.
Information on the financial
performance of the Bank during
the reporting period is explained
in Section 1 of Annual Report /
General Information / Financial
Indicators.
All decisions of the General
Assembly in the year 2015 have
been fulfilled.
Extraordinary General Assembly
Meetings during the Year
The Bank did not hold any
Extraordinary General Assembly
Meeting in the year 2015.
Aid and Donations
As of December 31, 2015 the
Bank’s aid and donations amounted
to TL 52,115 (31 December 2014:
TL 51,183).
Relations with the Main
Shareholder and Its Affiliates
Libyan Foreign Bank (LFB) holds the
largest share in the Bank’s paid-
in capital of 62.37%. During the
accounting period, the Bank carried
out various banking transactions
with LFB and other banks in the LFB
Group in the form of borrowing-
lending. Agreements in all legal
proceedings were reached based
on similar principles, procedures,
and conditions of non-group
persons. No measure was applied
to the detriment of the Bank in
accordance with the initiatives
or interests of the Bank’s main
shareholders or affiliates.
Dividend Policy
At the Bank’s Ordinary General
Assembly regarding to the year of
2014, held on March 26, 2015, the
profit distribution proposal of the
Board of Directors was approved;
separation of TL 3,525,277.87 Legal
Reserves from the balance sheet
profit of TL 70,505,557.32 and
transferring the remaining amount
to the previous year’s income and
loss account were decided by
consensus.
Group of Companies
Libyan Foreign Bank (LFB) holds the
biggest stake in the Bank’s paid-up
capital of 62.37%.
The direct or indirect participations
of LFB group hold no shares in A&T
Bank.
An effective internal control and
risk management system has been
established within the group,
formed together with A&T Finansal
Kiralama A.Ş. (“the Company”).
The Company is involved in the
consolidation of the financial
statements and included in the
annual audit program of the Bank’s
Inspection Council. In addition,
market, credit and operational
risk and capital adequacy ratios
are calculated and monitored
on consolidated basis at the
end of each quarter by the Risk
Management Department. The
Board of Directors declared the
following statement in the Affiliated
Company Report, prepared in
accordance with Article 199 of
the Turkish Commercial Code
No: 6102, and which covers the
relations with the main shareholder
and its affiliates:
“All transactions of our Bank
realized with the main shareholder
and its affiliated enterprises
between 1 January and
31 December 2015 have been
evaluated. The realization of these
commercial and legal transactions,
which were carried out with our
main shareholder and its affiliates
in year 2015, were required for our
banking activities and realized in
accordance with prevailing market
conditions and comply entirely
with the precedent transactions
with third parties. As a result, there
are no decisions, which were taken
against our Bank’s commercial
benefits or no commercial
transactions that cause loss for the
Bank.”