PASHA BANK ENG 20

PASHA Yatırım Bankası A.Ş. Notes to Unconsolidated Financial Statements at 31 December 2020 (Amounts are expressed in thousands of Turkish Lira (“TL”) unless otherwise stated.) (Convenience Translation of Publicly Announced Financial Statements Originally Issued in Turkish, See Note I of Section Three) INFORMATION RELATED TO UNCONSOLIDATED FINANCIAL POSITION AND RISK MANAGEMENT(Continued) IX. EXPLANATIONS ON THE PRESENTATION OF FINANCIAL ASSETS AND LIABILITIES AT THEIR FAIR VALUES Fair value calculations of financial assets and liabilities The fair values of financial assets amortised at cost are determined based on market prices or when this price is not available, based on market prices quoted for other securities subject to the same redemption qualifications in terms of interest, maturity and other similar conditions. The fair value of marketable securities issued is calculated according to quoted market prices and if these are not available, amounts derived from discounted cash flow models. The expected fair value of loans and receivables are determined by calculating the discounted cash flows using the current market interest rates for the fixed loans with fixed interest rates. For the loans with floating interest rates, it is assumed that the carrying value reflects the fair value. The following table summarizes the carrying values and fair values of financial assets and liabilities. The carrying value represents the acquisition costs and accumulated interest accruals of corresponding financial assets or liabilities. Carrying Value Fair Value 31 December 2020 31 December 2019 31 December 2020 31 December 2019 Financial Assets 1,948,081 1,503,666 1,947,198 1,509,656 Interbank money market placements 23,011 147,045 23,011 147,045 Banks 121,511 39,910 121,511 39,910 Cash and balances at Central Bank 155,100 126,731 155,100 126,731 Derıvative Financial assets 493 132 493 132 Financial assets at fair value through profit or loss 7,405 - 7,405 - Financial assets at fair value through other comprehensive income 30,850 16,824 30,850 16,824 Financial assets measured at amortised cost 116,776 79,975 123,407 84,475 Loans 1,492,935 1,093,049 1,485,421 1,094,539 Financial Liabilities 1,574,249 1,167,735 1,565,880 1,172,903 Banks’ deposits - - - - Other deposits - - - - Funds borrowed from other fin. Institutions 803,224 666,655 798,463 666,402 Securities issued 647,016 475,964 643,397 481,385 Miscellaneous Payables 44,804 3,953 44,804 3,953 Payables to money market 53,263 6,192 53,274 6,192 Derıvative financial liabilities 1,430 - 1,430 - Borrowers’ Funds 24,512 14,971 24,512 14,971 Annual Report 2020 PASHA Bank Year-End Financial Report 187