TURKMEN-TURKISH JOINT-STOCK COMMERCIAL BANK Financial Statements for the year ended December 31, 2018 and independent auditors’ report 1 TURKMEN-TURKISH JOINT-STOCK COMMERCIAL BANK TABLE OF CONTENTS Page STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION AND APPROVAL OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018 3 INDEPENDENT AUDITORS’ REPORT 4-6 FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2018: Statement of profit or loss and other comprehensive income 7 Statement of financial position 8 Statement of changes in equity 9 Statement of cash flows 10-11 Notes to the financial statements 12-53 2 103, Ibraimov str. T: +996 (312) 90 05 05 BC "Victory", 7th floor F: +996 (312) 91 05 05 Bishkek, 720011
[email protected] Kyrgyz Republic www.bakertilly-ca.com INDEPENDENT AUDITORS’ REPORT To the Shareholders of Turkmen-Turkish Joint-stock Commercial Bank: Opinion We have audited the financial statements of Turkmen-Turkish Joint-stock Commercial Bank (the “Bank”), which comprise the statement of financial position as at December 31, 2018, and the statement of profit or loss and other comprehensive income, the statement of changes in equity and the statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies. In our opinion, with the exception of adjustments that may be necessary if complete information is available on the issues described in the part containing the basis for qualified opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Bank as at December 31, 2018, and its financial performance and cash flows for the year then ended, in accordance with International Financial Reporting Standards (IFRSs).