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Annual Report Bank Mellat Turkey 2020

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Annual Report Bank Mellat Turkey 2020 ANNUAL REPORT BANK MELLAT TURKEY 2020 BANK MELLAT, HEAD OFFICE: TEHRAN, IRAN, ISTANBUL, TURKEY HQ, ANKARA AND IZMIR BRANCHES 2020 ANNUAL REPORT TABLE OF CONTENTS I. GENERAL PRINCIPLES WITH RESPECT TO THE ANNUAL REPORT II. CONTENTS OF THE ANNUAL REPORT A. Introduction 1. Summary Financial Information 2. Historical Development of the Branch 3. Shareholding Structure of the Branch 4. Changes in its Capital and Shareholding Structure During the Operating Period 5. Titles of Natural or Legal Persons who hold Qualified Shares and Information about Their Shares 6. Remarks Regarding the Shares, if any, Held by the Chairman and Members of the Board of Managers and General Manager and Deputy General Managers of the Branch 7. Remarks on the Operating Period made by the Chairman of the Board of Managers and General Manager and Their Prospects 8. Remarks Regarding the Staff, Number of Branches, Branch Service Type, Scope of Activities and Position in the Sector B. Information about the Management and Corporate Governance Practices 1. Board of Directors 2. Senior Management 3. Information About the Operations Conducted Pursuant to the Provisions of the Regulation on the Internal Systems of Banks and the Department Managers Regarding Internal Systems 4. Other Committees 5. Information Regarding the Practices Human Resources 6. Information about the transactions with the risk group in which the branch is included 6.1. Information about the credits extended to the risk group in which the branch is included 6.2. Information about deposit accounts owned by the risk group in which the branch is included 6.3. Information about the loans borrowed from the risk group in which the branch is included 6.4. Information about futures contracts, options contracts and suchlike other contracts made between the Branch and the risk group in which the branch is included 6.5. Information about the Benefits provided for Senior Management 7. Outsourced Services and Information About Service Providers C. Assessment of Financial Information and Risk Management 1. Assessment of Functioning of Internal Control, Internal Audit and Risk Management Systems made by the Audit Committee and Its Activities within the Accounting Period 1.1. Activities of Internal Control Department 1.2. Activities of Internal Audit Department 1.3. Risk Management Activities BANK MELLAT, HEAD OFFICE: TEHRAN, IRAN, ISTANBUL, TURKEY HQ, ANKARA AND IZMIR BRANCHES 2020 ANNUAL REPORT 1.4. Compliance Activities 1.5. Overall Assessment 2. Independent Audit Report 3. Information about Financial Structure 3.1. Assessment of Financial Status, Profitability and Solvency 4. Information About Risk Management Policies Applied by Risk Types 4.1. Principles and Policies for Credit Risk Management 4.2. Principles and Policies for Operational Risk Management 4.3. Principles and Policies for Market Risk Management 4.4. Principles and Policies for Liquidity Risk Management 5. Information about Ratings and Their Contents 6. Summary Financial Information for the Five year Period including the Reporting Period (TRY -thousand) 7. Annual Report of Bank Mellat Tehran – Iran BANK MELLAT, HEAD OFFICE: TEHRAN, IRAN, ISTANBUL, TURKEY HQ, ANKARA AND IZMIR BRANCHES 2020 ANNUAL REPORT I. GENERAL PRINCIPLES WITH RESPECT TO THE ANNUAL REPORT 1. Reporting period : 2020 2. Commercial Title of the Branch : Bank Mellat Merkezi Tahran İran İstanbul Türkiye Merkez Şubesi 3. Address of Bank Mellat Headquarters : Taleghani Avenue. No: 276 Tehran – Iran Address Address of the Branch in Turkey : Büyükdere Cd. No:134 34330 1.Levent- Beşiktaş/İstanbul/Türkiye 4. Phone : 0850 288 63 63 5. Fax : (0212) 284 62 14 6. Website : www.mellatbank.com 7. Electronic Mail : [email protected] BANK MELLAT, HEAD OFFICE: TEHRAN, IRAN, ISTANBUL, TURKEY HQ, ANKARA AND IZMIR BRANCHES 2020 ANNUAL REPORT II. CONTENTS OF THE ANNUAL REPORT A. Introduction 1. Summary Financial Information Balance Sheet (TRY -thousand) ASSETS 31 December 2020 31 December 2019 CASH AND CASH EQUIVALENTS 1.079.033 937.022 FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS 389 414 FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME - - LOANS (NET) 144.225 73.396 Loans 141.538 69.262 Non-Performing Loans 8.082 8.316 Specific Provisions (-) (5.395) (4.182) PROPERTY AND EQUIPMENT (Net) 10.819 11.011 INTANGIBLE ASSETS (Net) 193 191 DEFERRED TAX ASSET 1.014 916 OTHER ASSETS 1.262 440 TOTAL ASSETS 1.236.935 1.023.390 LIABILITIES 31 December 2020 31 December 2019 DEPOSITS 729.937 549.497 FUNDS - - PROVISIONS 11.288 9.443 CURRENT TAX LIABILITY 1.793 3.183 OTHER LIABILITIES 4.353 2.429 SHAREHOLDER’S EQUITY 489.564 458.838 TOTAL LIABILITIES 1.236.935 1.023.390 OFF-BALANCE LIABILITIES 31 December 2020 31 December 2019 GUARANTEES AND WARRANTIES 5.181 1.174 Letters of Guarantee 4.391 541 Letters of Credit 790 633 Other Guarantees and Warranties - - COMMITMENTS 4 24 BANK MELLAT, HEAD OFFICE: TEHRAN, IRAN, ISTANBUL, TURKEY HQ, ANKARA AND IZMIR BRANCHES 2020 ANNUAL REPORT Income Statement (TRY -thousand) INCOME & EXPENSE ITEMS 31 December 2020 31 December 2019 INTEREST INCOME 28.121 46.609 INTEREST EXPENSES (389) (832) NET INTEREST INCOME 27.732 45.777 NET FEES AND COMMISSIONS 4.579 10.469 TRADING INCOME/(LOSS) (Net) 25.774 8.589 OTHER OPERATING INCOME 647 2.022 TOTAL OPERATING INCOME 58.732 66.857 PROVISION FOR LOAN LOSSES (-) (2.307) (4.727) PERSONNEL EXPENSES (-) (11.150) (10.311) OTHER OPERATING EXPENSES (-) (5.917) (6.174) NET OPERATING INCOME/(LOSS) 39.358 45.645 PROVISION FOR TAXES ON INCOME FROM CONTINUING (8.789) (10.938) OPERATIONS (±) NET PERIOD PROFIT/LOSSES 30.569 34.707 2. Historical Development of the Branch Bank Mellat Iran, established in 1980 as a state bank as a consequence of nationalization of 10 private banks, was registered with Tehran Stock Market and went public in 2008. The assets of the Bank is USD 107.781 million as of 20 March 2020 and the shareholder’s equity of the Bank amounts to USD 9.762 million as of the same date. The bank has branches in Turkey, Armenia and Korea, and subsidiary banks in UK, Germany and Malaysia. The primary purpose of the branches and subsidiaries outside of Iran is to play an intermediary role in foreign trade transactions between Iran and especially these countries and the third countries. The Branch is granted permission to operate as the branch of a foreign bank established in Turkey by the decree dated 5 February 1981 and number 82/2406 of the Council of Ministers. Bank Mellat has 3 branches in Turkey, the Main Branch in Istanbul which became operational on 16 April 1982, and the branches in Ankara and Izmir. 3. Shareholding Structure of the Branch The Shareholding Structure of Bank Mellat Tehran Iran, which possesses the whole capital of the Branch is as follows: 31 December 2020 31 December 2019 Shareholder (**)Share Percentage (%) (*)Share Percentage (%) State-Edalet Share Investments(ESC) 11,20 30,00 State of Islamic Republic of Iran 11,16 17,00 Bank Mellat’s Staff Future Security Fund 6,45 6,45 First Financial Intermediation Investment Fund 5,67 - Fanavaran Petrochemical Company 4,47 - Mellat Financial Group Company 4,30 3,14 Saba Tamin Insurance Company 3,70 6,23 Mellat Market Investment Fund(BFM) 3,91 - Social Security Institution of Iran - 3,81 Other Shares Quoted on Stock Exchange 49,14 33,37 Total 100,00 100,00 (*) This is the shareholding structure as declared by the General Directorate for Financial Affairs, Directorate for Stock Market and Stocks of Bank Mellat Iran as of 31.12.2019. (**) This is the shareholding structure as declared by the General Directorate for Financial Affairs, Directorate for Stock Market and Stocks of Bank Mellat Iran as of 31.12.2020. BANK MELLAT, HEAD OFFICE: TEHRAN, IRAN, ISTANBUL, TURKEY HQ, ANKARA AND IZMIR BRANCHES 2020 ANNUAL REPORT 4. Changes in its Capital and Shareholding Structure During the Operating Period There have been no changes in the capital and the shareholding structure of the Branch during the accounting period. 5. Titles of Natural or Legal Persons who hold Qualified Shares and Information about Their Shares 100% controlling capital holder of the Branch is the Bank Mellat residing in Tehran Iran. Natural or legal persons who hold qualified shares of the Bank Mellat Tehran, Iran as of the end of the period are indicated in the following table. 31 December 2020 Share Name, Surname/Title Share Ratios Paid Share Unpaid Shares Amount State-Edalet Share Recipiens(ESC) 22.000 %11,20 22.000 - State of Islamic Republic of Iran 22.000 %11,16 22.000 - 6. Remarks Regarding the Shares, if any, Held by the Chairman and Members of the Board of Directors and General Manager and Assistant General Managers of the Branch President and members of board of directors, Director General and Assistant General Managers have no shares. 7. Remarks on the Operating Period made by the Chairman of the Board of Directors and General Manager and Their Prospects The coronavirus epidemic, which occurred in Wuhan, China in December 2019, affected the whole world in a short time and continued to be the agenda of the global economy. In Turkey, the first cases were announced on March 2020. Central banks of European countries have supported various sectors by keeping interest rates constant during the epidemic. By the Government of Turkey were taken various steps in order to support the industry and services sectors and these supports are continue. In line with its normalization policy, the BRSA announced various support packages and introduced new implementations. The rate of increase in the number of cases has slowed down with the news of the vaccine and the knowledge that the corona virus vaccine will be effective on 90 percent and the rapid continuity of its applications.
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