YE08 Consolidated Financial Results. February 13, 2009

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1 YE08 Consolidated Financial Results February 13,

2 We support our strategy with strong risk management Proven risk management track record and the highest credit ratings given to a bank in Turkey A robust capital structure and high capital adequacy ratio of 17% 100% specific provisioning; strong buffer and hidden reserve of around TRY 400 mn. Well diversified deposit base (deposits from individuals make up 70% of total deposits) 85% loans to deposits ratio 2

3 Highlights Total assets increased 29% y-o-y Growth in loan portfolio is 23% y-o-y Growth in deposits is 32% y-o-y vs. 27% growth in sector deposits Net interest income growth was 8% y-o-y Net commission income grew 16% y-o-y Net profit reached TRY 1,782mn (USD 1,171mn), ROAE of 16.4% 3

4 Highlights Total Assets (TRY billion) Loans (TRY billion) Sept.' Sept.' Volume (TRY Billion) Market share* 11.7 Deposits (TRY billion) Net Profit (TRY million) , ,571 Tax credit, tax penalties Sept.' Volume (TRY Billion) Market share* * Market shares are according to bank only figures due to unavailability of consolidated sector data 4

5 Financial ratios Loans / Total Assets Securities /Total Assets Loans / Deposits Deposits / Total Assets NPL NPL cost for the period CAR (Basel I) ROAA (%) ROAE (%) 55.3% 35.9% 91.4% 60.5% 2.5% 1.4% 18.0% 3.0% 21.9% 52.7% 30.5% 85.2% 61.8% 2.3% 1.5% 17.0% 2.1% 16.4% 5

6 Highly liquid securities portfolio Composition of securities TRY 19.5bn USD 5.8bn 63% 70% Fixed Floating 37% 30% TL FX 72% of the portfolio is held-to-maturity, 27% available for sale 6

7 Significant excess capital, after all economic risks are covered Excess Capital (TRY mn.) Tier 1 + Tier 2 Capital 11,614 5,853 1,507 Regulatory Capital (*) Additional capital to cover other risks Economic Capital 4,254 Excess capital (**) 4Q08 (*) Minimum capital amount to cover credit, market and operational risks (**) Excess capital is available for investment and other purposes since economic capital is sufficent to cover all economic risks 7

8 Net fees and commissions Net Fees & Commissions (TRY mn.) Fees and commissions revenue contribution % y-o-y 1,142 Money transfer fees 3% Other 13% Asset management Non-cash fees loans 15% 4% 8% Consumer loan related Dec.'07 Dec.'08 25% Credit cards commissions 32% Merchant commissions Net fee and commission income growth is mainly due to the growth in credit cards, asset management and consumer loan related commissions 8

9 Operating costs Composition of operating costs (TRY mn.) Employee costs Rent, repair & maintenance, amortisation Marketing and advertisement Other* SDIF premium Q08 2Q08 3Q08 4Q08 * Other costs include sundry taxes and duties, tax penalties, heating, lighting etc.. Network & sales force growth and marketing expenses have increased operating costs Based on consolidated figures 9

10 Efficiency ratios Operating expense/average assets (%) Cost/income (%) * 2008 * After the adjustment of tax credit and penalties of net TRY 211mn for 2008 and TRY224mn for 2007 Having already made major infrastructure and branch investments; in 2009, cost growth will be limited Based on consolidated figures 10

11 A well differentiated branch network Retail branches Credit Express Corporate Commercial Private Sub- total In-store branches Total Akbank with over 15,000 employees and 868 branches spans throughout Turkey 11

12 Intentional reduction in small business loans Breakdown of Loans Change y-o-y % TRY bn. 34% 37% 38% Corporate 53% % 18% 20% Commercial 49% % 15% 12% Small Business -22% % 30% 30% Consumer 14% Sept' Reduction in small business loans is a result of tightened credit policies for this segment 12

13 Retail Banking - consumer loans Consumer Loans 1 (TRY mn.) 8,764 9,254 4,029 4,317 9,972 10,237 4,778 4,811 9,610 4,601 1,341 1,291 1,297 1,246 1,086 3,394 3,646 3,897 4,180 3, March'08 June'08 Sept.' General purpose Auto loans Mortgage Growth in general purpose and mortgage loans are 15.6% and 14.2% respectively Akbank s market shares in auto loans, mortgage loans, general purpose loans and total consumer loans are 20.1%, 12.2%, 10.2%, 11.8% respectively 1 Numbers represent direct lending to individuals, excluding credit cards 13

14 Retail Banking - credit cards Credit Card Loans ,830 3,897 4,298 4,538 4, % growth in credit card loans y-o-y Fall in spread mainly related to the fall in benchmark credit card interest rate 2007 Mar-08 Jun-08 Sept.' Credit Cards Quarterly Issuing Volume 14.4% 14.2% 14.1% 14.0% 14.0% 5,922 6,280 5,985 5,173 5,161 4Q07 1Q08 2Q08 3Q08 4Q08 Volume (TRY mn.) Market shares 14

15 Retail Banking - small business Small Business Loans 1 (TRY mn.) -22% y-o-y 7,568 7,442 7,833 7,224 5, March'08 June'08 Sept' Excluding accrued interest Continues to provide the highest spread after credit cards Cross-sell ratio is 5.0x 1 Small business loans given to companies with sales turnover <TRY 10 mn are granted by the retail banking unit 15

16 Commercial Banking Commercial Loans 1-3% y-o-y 2,99 2,83 2,54 2,40 2,46 40% y-o-y 4,86 4,60 4,63 3,95 3, Mar08 Jun08 Sept TL cash loans (TRY bn.) Excluding accrued interest 2007 Mar08 Jun08 Sept FX cash loans (USD bn.) 44 commercial banking centers Cross sell ratio is 3.5x 1 Medium size companies with sales turnover btw. TRY mn are serviced through our commercial banking unit 16

17 Corporate Banking Corporate Banking (TRY mn.) 26% y-o-y 8% y-o-y 8,1 9,7 10,7 10,8 10, ,1 2,5 2,7 2, Mar08 June08 Sept TL cash loans (TRY bn.) Excluding accrued interest 2007 Mar08 June08 Sept FX cash loans (USD bn.) Investment and acquisition financing supports growth in corporate loans Cross-sell ratio is 3.0x 17

18 Private Banking Private Banking Assets (USD mn.) 41% y-o-y 11,628 11,709 8,283 8,620 9, Mar-08 Jun-08 Sep Top quality investment advisory service Cross-sell ratio in private banking is 3.2x Euromoney selected Akbank Private Banking as the Best Private Bank in Turkey in 2008 considering its superior performance in assets under management, profitability, network and service quality 18

19 Balance sheet highlights Consolidated (TRY mn,) Shares (%) Change (%) TOTAL ASSETS Cash and Due from Banks 72,103 4,335 93,093 13, Securities 25,875 28, Loans 39,882 49, TOTAL LIABILITIES 61,471 81, Deposits Funds Borrowed TOTAL EQUITY 43,635 9,491 10,632 57,575 12,311 11,

20 Income statement highlights Consolidated (TRY mn,) Change (%) Interest Income 8,799 10, Interest Expense (5,423) (6,486) 20 Net Interest Income 3,376 3,647 8 FX Gain (Loss), Net Provision for Loan Losses (625) (999) 60 Net Interest Income after FX, Income/Loss & NPL Prov. Fees and Commissions (Net) Profit on Trading Securities (Net) Operating Profit Operating Expenses Income Before Tax Tax Net Income 2, (16) 5,034 (1,773) 2,525 (485) 2,041 2,834 1,142 (120) 5,608 (2,262) 2,152 (369) 1,

21 Balance sheet highlights in USD Consolidated Shares (%) (USD mn.*) TOTAL ASSETS 62,195 61,173 Cash and Due from Banks 3,739 8, Securities 22,319 18, Loans 34,402 32, TOTAL LIABILITIES 53,024 53,727 Deposits 37,639 37, Funds Borrowed 8,187 8, TOTAL EQUITY 9,171 7, * Figures are stated with exchange rates effective at respective dates 21

22 Income statement highlights in USD Consolidated (USD mn,*) Interest Income Interest Expense Net Interest Income FX Gain (Loss), Net Provision for Loan Losses Net Interest Income after FX, Income/Loss & NPL Prov. Fees and Commissions (Net) Profit on Trading Securities (Net) Operating Profit Operating Expenses Income Before Tax Tax Net Income 7,590 (4,678) 2, (539) 2, (14) 4,342 (1,529) 2,178 (418) 1,760 6,659 (4,262) 2, (656) 1, (79) 3,685 (1,486) 1,414 (243) 1,171 22

23 NPL cost Consolidated (TRY mn.) 2008 New NPL s 1,267 Collections (439) Sales (131) Net NPL Cost 697 NPL cost for the period 1.5% 23

24 Disclaimer Statement The information and opinions contained in this document have been compiled or arrived at by Akbank from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness. All opinions and estimates contained in this document constitute the Company s judgement as of the date of this document and are subject to change without notice. The information contained in this document is published for the assistance of recipients, but is not to be relied upon as authoritative or taken in substitution for the exercise of judgement by any recipient. The Company does not accept any liability whatsoever for any direct or consequential loss arising from any use of this document or its contents. This document is strictly confidential and may not be reproduced, distributed or published for any purpose.

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