Page 129 - BKT Annual Report 2024 EN

Notes to the Consolidated Financial Statements for the year ended 31 December 2024 Notes to the Consolidated Financial Statements for the year ended 31 December 2024
(amounts in USD, unless otherwise stated) (amounts in USD, unless otherwise stated)

32. IMPAIRMENT OF FINANCIAL ASSETS, OTHER THAN LOANS TO CUSTOMERS A.S And Calik Enerji A.S. Consortium, Calik Pamuk Dogal Vesen El Tic A.S., Aktiftech Teknoloji, Gap Pazarlama, Cb Int Digital Jsc,
Clk Logistics Holding Nv, Genvera Enerji A.S. and Kosovo Electricity Supply Company J.S.C (KESCO) are controlled by Calik Holding.
Movements in the allowance for impairment financial assets other than loan:
Albania Leasing sh.a represents an affiliate of the Group.
Balances and transactions with related parties
31 December 2024 31 December 2023
At 1 January 66,316,526 45,827,439 31 December 2024 31 December 2023
Impairment charge/(reversal) for the period 4,070,884 18,405,243 Assets
Placement and balances with banks:
- on investment securities 5,518,867 18,023,740 Current accounts with Aktifbank 228,895 88,410
- on placements 2,404 (15,628) Loans to Aktifbank 14,371,583 14,371,583
- on loans to banks (932,089) 55,972 Investment Securities with Calik Holding - 26,334,823
Investment Securities with Aktifbank 20,490,746 -
- on other assets (518,298) 341,159 Loans to customers:
Provision reversal of written off securities (4,821,908) - ArkEstate 13,224,618 14,404,069
Translation difference (2,067,890) 2,083,844 Clk Logistics Holding Nv 604,405 -
Cb Int Digital Jsc 721 -
At the end of the period 63,497,612 66,316,526
Total assets 48,920,968 55,198,885
Liabilities
33. INCOME TAX Due to banks and financial institutions:
Borrowings from Aktifbank 20,631,780 10,762,697
Income tax is comprised of:
Customer deposits:
Albania Leasing 89,104 71,825
Year ended Year ended
31 December 2024 31 December 2023 Calik Pamuk Dogal Vesen El Tic AS 385 111,013
Calik Elektrik Dagitim A.S And Calik Enerji A.S. Consortium 12 12
Current income tax 20,348,453 14,766,671 KEDS / KESCO 9,153,015 11,700,522
Deferred tax (income)/expense (note 20) 158,960 21,094 Gap Pazarlama 422 -
Clk Logistics Holding Nv 6,967 -
20,507,413 14,787,765 Cb Int Digital Jsc 528,059 -
Calik Holding 14,984,030 15,041,883
The tax on profit before tax differs from the theoretical amount that would arise using the basic tax rate as follows: Total liabilities 45,393,774 37,687,952

31 December 2024 31 December 2023 2024 2023
Statement of comprehensive income
Profit before taxes 142,189,688 105,650,295
Interest income from:
Computed tax using statutory tax rate of 15 % 16,713,427 11,783,870 Aktifbank 1,797,329 -
Effect of tax rates in foreign jurisdictions at 10% 3,193,879 2,706,511 Calik Holding 846,780 371,583
ArkEstate 716,884 3,021,297
Non tax deductible expenses 413,639 174,616
Cb Int Digital Jsc 33,275 647,965
Deferred tax expense/(income) 158,960 21,094 Interest expenses for:
Foreign exchange difference 27,508 101,674 Aktifbank (39,884) (77,999)
Calik Holding (1,352,167) (362,056)
Income tax 20,507,413 14,787,765
Fees and commissions:
Effective tax rate 14.42% 14.00% Albania Leasing 4,627 4,107
KEDS / KESCO 73,516 42,817
ArkEstate Investment 3,192 -
34. RELATED PARTY TRANSACTIONS Clk Logistics Holding Nv 545 -
Cb Int Digital Jsc 65 -
Calik Holding 623 -
In accordance with IAS 24 “Related Party Disclosures”, a related party is any party that has the ability to control the other party or
Calik Pamuk 410 -
exercise significant influence over the other party in making financial and operating decisions. Operating expenses:
Identity of related parties AktifTech Teknoloji AS (1,336,125) (800,470)
The Bank has related party relationships with its shareholders and affiliates, directors and executive officers. The Bank’s sole shareholder Calik Holding (726,720) (328,302)
is Calik Holding at 100% as at 31 December 2024. The ultimate controlling party is Mr. Ahmet Calik. Aktif Yatirim Bankasi A.S. Genvera Enerji AS (144,726) - -
ArkEstate
(696,018)
(“Aktifbank”), ArkEstate Investments sh.a, Kosovo Electricity Distribution and Supply Company J.S.C (KEDS), Calik Elektrik Dagitim Net (818,394) 2,518,942

ANNUAL REPORT 2024 74