According to the consolidated financial statements belonging to the accounting period of 01.01.2022-31.12.2022 prepared in accordance with the International Financial Reporting Standards within the framework of the provisions of the Communiqué of the CMB Serial: II, and Number: 14.1 and audited by PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş., net profit for the period is 47,432,000,000 TRY. On the other hand, according to the legal books (under the provisions of Turkish Tax Procedure Law, due to the differences between Turkish Accounting standards and IFRS standards) the net profit of the period is 21,651,606,080 TRY and previous years' loss account has a balance of 63,236,726,739 TRY.
Consequently, the profit amount according to the legal books will be transferred to previous years' loss account. As there will not be any distributable profit (according to the legal books), Board of Director's proposal of transferring the net profit of 47,432,000,000 TRY (according to IFRS) to the previous years' profit account was approved at the 2022 Ordinary General Assembly Meeting.