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Financial assets (Tables)

12 Months Ended

Dec. 31, 2023

Financial assets

Summary of detailed information about financial assets

The details of financial assets as of 31 December 2023 and 2022 are as follows:


		31 December 2023				31 December 2022
		Non-				Non-
		current		Current		current		Current
Amortized cost		-		-		-		1,233,597
- Time deposits with maturity of more than three months		-		-		-		1,233,597
Fair value through profit or loss		541,490		8,869,828		426,147		6,648,418
- Currency protected time deposits ()		-		8,869,828		-		6,648,418
- Investment funds (*)		541,490		-		426,147		-
Fair value through other comprehensive income		106,023		-		3,049,667		-
- Listed debt securities ()*		106,023		-		3,049,667		-
		647,513		8,869,828		3,475,814		7,882,015

(*)Listed debt securities are classified as financial assets at fair value through other comprehensive income.

(**)

In order to prioritize the TL in deposit preferences of savers and to increase the share of TL in banks’ balance sheets, the foreign currency protected deposit and participation account (“CPTD”) scheme was introduced in December 2021 by Ministry of Treasury and Finance of Turkiye (“MoTF”). The CPTD scheme consists of TL accounts to be opened under the support of the MoTF and conversions from foreign currency (FX) deposits to TL accounts to be supported by the CBRT. Savings of TL depositors are hedged against the exchange rate risk with the CPTD scheme supported by the MoTF. The CBRT-supported scheme enables FX deposit account holders to switch to TL deposit accounts. Depositors switching to TL accounts from their foreign currency accounts under the support of the CBRT will be able to continue to hedge their savings against the exchange rate risk by using the MoTF supported scheme at the end of the maturity period. Currency-protected time deposit accounts are classified as financial assets at fair value through profit or loss. The Group has converted its foreign currency deposit account amounting to USD 190,356 and EUR 85,000 into “Currency Protected TL Time Deposit Accounts”. Maturity of currency protected time deposit accounts is 1 year.

(***) Investment funds mainly include Turkcell GSYF, established by Re-Pie., and its associate and financial assets which is carried at fair value and valuation differences are recognized in profit or loss.


		Fair Values
		31 December		31 December		Fair value
		2023		2022		hierarchy		Valuation technique
Financial assets at fair value through other comprehensive income		106,023		3,049,667		Level 1		Pricing models based on quoted market prices at the end of the reporting period,
Financial assets at fair value through profit or loss		82,311		32,925		Level 1		Pricing models based on quoted market prices at the end of the reporting period,
Financial assets at fair value through profit or loss		8,869,828		6,648,418		Level 2		Forward exchange rates at the reporting date
Financial assets at fair value through profit or loss		459,179		393,222		Level 3		Pricing models based on discounted cash flow
		9,517,341		10,124,232

Summary of Nominal And Fair Value Of Financial Assets

As of 31 December 2023, and 2022, the notional and fair value amounts of listed debt securities are as follows:


31 December 2023
		Notional amount		Fair value
Currency		(original currency)		(in TL)		Maturity
TL		73,426		106,023		Indefinite
Total listed debt securities				106,023


31 December 2022
		Notional amount		Fair value
Currency		(original currency)		(in TL)		Maturity
EUR		24,000		777,764		16 February 2026
EUR		15,000		459,852		8 July 2027
EUR		5,000		164,732		11 April 2023
USD		3,700		120,802		31 March 2025
USD		21,000		644,610		14 July 2023
USD		18,000		508,090		25 March 2027
USD		5,000		161,123		13 November 2025
USD		3,000		92,001		25 January 2023
USD		1,000		30,549		10 August 2024
USD		50,000		90,144		Indefinite
Total listed debt securities				3,049,667

As of 31 December 2023 and 2022, the notional and fair value amounts of currency protected time deposits are as follows:


31 December 2023
		Notional amount		Fair value
Currency		(original currency)		(in TL)		Maturity
TL		1,191,635		1,732,409		22 February 2024
TL		1,071,635		1,722,282		26 February 2024
TL		955,742		1,155,750		27 February 2024
TL		599,368		715,056		26 April 2024
TL		972,020		499,665		10 May 2024
TL		207,853		418,545		12 February 2024
TL		700,000		778,068		28 February 2024
TL		428,045		474,316		31 July 2024
TL		269,857		325,875		16 August 2024
TL		274,462		323,482		28 August 2024
TL		229,780		253,153		02 October 2024
TL		140,639		170,242		01 April 2024
TL		94,501		150,592		15 April 2024
TL		94,501		150,393		24 October 2024
Total currency protected time deposits				8,869,828

24.Financial assets (continued)


31 December 2022
		Notional amount		Fair value
Currency		(original currency)		(in TL)		Maturity
TL		1,564,478		2,037,015		10 May 2023
TL		1,160,181		1,565,557		27 February 2023
TL		1,155,113		1,351,781		15 August 2023
TL		719,717		842,611		16 August 2023
TL		379,577		493,978		11 May 2023
TL		305,578		357,476		02 October 2023
Total currency protected time deposits				6,648,418

Summary of Gain Losses on Other Comprehensive Income

During the year, the following gains (losses) were recognized in other comprehensive income.


		31 December		31 December		31 December
		2023		2022		2021
Gains / (Losses) recognized in other comprehensive income
Related to financial assets		149,602		(121,999)		(192,475)
Related to financial assets, tax effect		(5,514)		35,988		38,164
		144,088		(86,011)		(154,311)