MILLIRE_2019_Annual Report

244 Milli Re Annual Report 2019 Millî Reasürans Türk Anonim Şirketi NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2019 (Currency: Turkish Lira (TL)) (Convenience Translation of Financial Statements and Related Disclosures and Footnotes Originally Issued in Turkish, See Note 2.1.1) 13 Derivative financial assets As of December 31, 2019, the Company has derivative financial instruments recognized in the financial assets held for trading amounting to TL 11.471.123 (December 31, 2018: TL 6.348.182). As of December 31, 2019, the Company has accounted in income accruals and other financial liabilities amounting to TL 24.850.393 (December 31, 2018: TL 77.683.687) that is increase in value and TL (59.472.753) TL (December 31, 2018: TL (2.877.823)) that is decrease in value respectively, due to forward foreign currency agreement. 14 Cash and cash equivalents As of December 31, 2019 and December 31, 2018, the details of the 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 117.671 70.338 70.338 68.699 Cheques received 240.000 - - - Bank deposits 5.803.536.011 5.364.205.897 5.364.205.897 4.328.461.218 Cheques given and payment orders (35.083) (79.251) (79.251) (87.620) Bank guaranteed credit card receivables with maturities less than three months 587.341.970 451.595.523 451.595.523 399.367.075 Cash and cash equivalents in the balance sheet 6.391.200.569 5.815.792.507 5.815.792.507 4.727.809.372 Bank deposits - blocked (*) (467.204.688) (567.003.815) (567.003.815) (483.583.442) Time deposits with maturities longer than 3 months (2.191.076.064) (2.054.680.462) (2.054.680.462) (945.825.944) Interest accruals on banks deposits (11.488.428) (21.420.939) (21.420.939) (13.872.173) Cash and cash equivalents presented in the statement of cash flows 3.721.431.389 3.172.687.291 3.172.687.291 3.284.527.813 (*) As of December 31, 2019, cash collateral amounting to TL 447.225.909 is kept in favour of the Republic of Turkey Ministry of Treasury and Finance and TL 19.978.279 is kept in favour of Agricultural Insurance Pool as a guarantee for the insurance activities of Anadolu Sigorta. (31 December 2018: TL 567.003.315). As of December 31, 2019 and 2018, bank deposits are further analysed as follows: December 31, 2019 December 31, 2018 Foreign currency denominated bank deposits - time deposits 3.351.095.077 2.824.786.884 - demand deposits 29.673.971 17.017.671 Bank deposits in Turkish Lira - time deposits 2.417.322.407 2.517.440.747 - demand deposits 5.444.556 4.960.595 Bank deposits 5.803.536.011 5.364.205.897