MILLIRE_2019_Annual Report

Milli Re Annual Report 2019 149 Activities and Major Developments Related to Activities Financial Status Risks and Assessment of the Governing Body Unconsolidated Financial Statements Together with Independent Auditors’ Report Thereon Consolidated Financial Statements Together with Independent Auditors’ Report Thereon General Information Financial Rights Provided to the Members of the Governing Body and Senior Executives Research & Development Activities Millî Reasürans Türk Anonim Şirketi NOTES TO THE UNCONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) (Currency: Turkish Lira (TL)) 14 Cash and cash equivalents As of December 31, 2019 and 2018, the details of cash and cash equivalents are as follows: December 31, 2019 December 31, 2018 At the end of the period At the beginning of the period At the end of the period At the beginning of the period Cash on hand 60.119 19.945 19.945 5.842 Bank deposits 1.754.500.598 1.742.194.280 1.742.194.280 1.223.126.571 Cheques received 240.000 - - - Cash and cash equivalents in the balance sheet 1.754.800.717 1.742.214.225 1.742.214.225 1.223.132.413 Bank deposits - blocked (500) (500) (500) (500) Time deposits with maturities longer than 3 months (196.631.873) (409.261.173) (409.261.173) (51.610.145) Interest accruals on bank deposits (6.341.497) (12.664.099) (12.664.099) (8.230.211) Cash and cash equivalents presented in the statement of cash flows 1.551.826.847 1.320.288.453 1.320.288.453 1.163.291.557 As of December 31, 2019 and 2018, the details of bank deposits as follows: December 31, 2019 December 31, 2018 Foreign currency denominated bank deposits - time deposits 331.620.931 407.654.891 - demand deposits 17.017.549 13.929.931 Bank deposits in Turkish Lira - time deposits 1.405.729.088 1.320.229.185 - demand deposits 133.030 380.273 Bank deposits 1.754.500.598 1.742.194.280 15 Equity Paid in capital The shareholder having direct or indirect control over the shares of the Company is İş Bankası Group having 77,06% of outstanding shares. As of December 31, 2019 and, 2018, the shareholding structure of the Company is as follows: Name December 31, 2019 December 31, 2018 Shareholding amount(TL) Shareholding rate (%) Shareholding amount (TL) Shareholding rate (%) Türkiye İş Bankası A.Ş. 508.573.072 77,06 505.810.925 76,64 Millî Reasürans T.A.Ş. Mensupları Yardımlaşma Sandığı Vakfı 69.604.854 10,55 69.604.854 10,55 Groupama Hayat A.Ş. * 38.809.894 5,88 38.809.894 5,88 Ankara Doğal Elektrik Üretim ve Ticaret A.Ş. 22.240.456 3,37 22.240.456 3,37 T.C. Ziraat Bankası A.Ş. 16.430.944 2,49 16.430.944 2,49 Other 4.340.780 0,65 7.102.927 1,07 Paid in capital 660.000.000 100,00 660.000.000 100,00 (*) As of April 14, 2019, the name of Groupama Emeklilik A.Ş. is changed to Groupama Hayat A.Ş.