Türkiye Finans Katılım Bankası A.Ş. ( TFKB )

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1 25 March 2013 Türkiye Finans Katılım Bankası A.Ş. ( TFKB ) March 2015

2 TFKB Highlights Strong and Growing Franchise 14th largest Turkish bank by assets as of 30 Sep % market share (1) of assets among 4 participation banks (Islamic banks) in Turkey as of 2014 YE - World Finance Awards; Best Islamic Bank in Turkey (Turkey s Best Participation Bank Award) - March 2014 Strong and Supportive Shareholder Base Favorable Operating Environment Strong Financial Performance National Commercial Bank, Saudi Arabia s largest bank by total assets (rated A+/A1 by Fitch, S&P and Moody s), is the majority shareholder with a 67.03% stake Share capital increased from TRY 292mn (pre-ncb s majority stake acquisition in 2008) to TRY 2,600mn in 2014 Attractive demographics coupled with strong GDP growth Stable political and macro environment, including healthy public debt to GDP ratio and subsiding inflation Strictly regulated, well capitalized, and underpenetrated banking sector (in terms of lending) to underpin continued growth Participation banking growing faster than conventional banks, still represents only 5.2% of total bank sector assets, as of 2014 YE Net profit growing at 13% CAGR between , outperforming Turkish banking sector and Turkish participation banking average Outperformed banking sector and participation bank industry averages in terms of asset, loan, deposit and net profit growth as well as ROAE, as of 2014 YE Low cost to income (2) ratio of 62.8%, outperforming participation bank industry Trade Finance Initiatives Strong Asset Quality & Risk Management Serving to 2,7mn retail, 374k SME and 82k corporate clients, mainly SMEs Offering a wide range of correspondent banking relationships and foreign trade services with a volume of USD 27.5bn as of Q Despite absence of NPL sales until 3Q14, NPL levels consistently below banking sector and participation bank peer averages (2.5% as of 2014 YE) (1) Increasing NPL coverage ratio in line with that of the participation bank average Experienced Management Team (1) Comparison based on BRSA financials (2) Cost to income ratio calculated as operating income excluding financial asset impairment (3) Net cost of risk defined as net loan loss provisions over average net loans Source: BRSA Highly experienced management team with a proven track record in growing operations and profitability while maintaining a robust capital structure and a strong risk management culture CEO and EVPs have average 24 years experience in banking and business administration 1

3 25 March Turkey: Country Overview

4 Turkey: Overview of the Country Geographical Location Background Information Capital Largest City Area Population Currency Official Language GDP Rating Ankara Istanbul 783,562 km2 77,695,904 (2014) Turkish Lira (TRY) Turkish USD 813 billion (2014 IMF Estimates) BBB- (Fitch), Baa3 (Moody s) and BB+ (S&P*) Turkey: A Strong Emerging Market with Growth Potential 2015 (P) Population (m) Gross GDP (in USDbn equivalent) ** Real GDP growth (%) 9.2% 8.8% 2.1% 4.1% 3.0%** 3.0% GDP per capita (in USD,000 equivalent) ** 11.0 Inflation (CPI) 6.4% 10.4% 6.2% 7.4% 8.2% 7.0% Unemployment (%) 11.1% 9.1% 8.4% 9.0% 9.5%** 9.9% * Unsolicited Rating ** IMF World Economic Outlook (WEO) October 2014 Forecasts Sources: IMF WOE Database, TURKSTAT 3

5 Turkey: Strong Macro Fundamentals Annual GDP Growth (%) (2003/14 Averages) 2015/19 Average GDP Growth Forecasts (%) Turkey is the 17th largest economy in the World as of ,0 4,1 4,8 3,5 3,5 3,7 Consistently outperformed peer groups in terms of real GDP growth between ,5 2,6 3,2 3,3 1,9 2,3 2,5 2,6 Real GDP expected to grow at 3.5% between , and still continue to outperform many emerging market economies 1,3 1,6 The structural reform programs, recently released by the government, will likely enhance the productivity and boost the potential growth, as well as the favorable demographics Hungary Mexico Czech Republic South Africa Brazil Poland Russia Turkey Russia Hungary Czech Brazil Republic South Africa Turkey Annual CPI Inflation (%) Inflation and Benchmark Bond Yield (%) Poland Mexico Turkey is in a disinflation process in the long-run Low inflation also had a crucial role to sustain high growth during the last decade Accordingly, benchmark rates remained at single digit levels over the past years as the risk premium eased due to improvement in public finance Annual CPI Inflation Benchmark Bond Yields Inflation Source: TURKSTAT, CBRT, IMF, Bloomberg 4

6 Turkey: Sound Fiscal Management & Financial Markets Prudent public spending has significantly reduced budget deficit for the last ten years The Government s Medium-Term Program (MTP) also imply that the tight fiscal policy will maintain in the next three years Furthermore, cautious public borrowing has diminished Turkey s risk premium to the historical low levels At 36% Turkey s public debt to GDP ratio is significantly lower than the many countries Neutral real interest rates fell globally after the Global Financial Crisis Turkey can also maintain the low real rates thanks to the healthy public finance dynamics and growth prospects In addition to the strong fundamentals, macro prudential measures have lowered the volatility in financial markets Budget and Primary Balances of GDP (%) Budget Balance Primary Surplus Central Bank Policy Rates & Inflation Rates (%) 11,75 0,05 Policy Rates CPI 2,00 2,10 4,50 Czech Poland Hungary Mexico Republic 5,75 South Africa 8,25 Russia 8,25 Turkey Brazil 2013 Public Debt to GDP vs. Peers 14 Russia 36 Turkey 45 South Africa 46 Czech Rep Mexico Poland 3M-Implied Volatility in FX Markets India Mexico 10,1 Indonesia 10,4 Turkey 11,4 Russia 12,1 Czech Republic 12,2 Brazil 13, Brazil Hungary Poland 14,8 South Africa Hungary 11, Averages 15,2 15,5 Source: TURKSTAT, CBRT, IMF, Bloomberg 5

7 25 March Turkey: Banking Industry Overview

8 Growth & Penetration Asset Quality & Capital High Growth Potential Turkey Banking Sector: Robust and Well Positioned for Growth Loan Growth (%) (1) Deposit Growth (%) (1) Loans/Deposits (%) (1) NPL (%) (1) Coverage (%) (1) CAR (%) (1) CAR (%) (2) Total Deposits to GDP (%) (2) Total Loans to GDP (%) (2) Czech Republic Mexico Poland Turkey Brazil South Africa Italy Spain Russia 17.00% 15.90% 15.70% 15.50% 15.50% 14.60% 13.70% 13.30% 12.80% Spain Italy South Africa Czech Republic Brazil Russia Turkey Poland Mexico 85% 79% 73% 71% 60% 51% 27% 140% 211% Spain Italy South Africa Brazil Turkey Czech Republic Poland Russia Mexico 18% 96% 87% 72% 70% 66% 57% 55% 172% (1) BRSA for deposit taking banks Annual growth (2) As of 3Q14:Turkey, 07/14: Mexico, 2Q14: Russia, SA& Czech Rep.,4Q13: Spain, Italy and Poland Source: BRSA for deposit taking banks only, IMF 7

9 Turkey Banking Sector: Well Regulated and Healthy 51 banks with a combined asset base of TRY1.99 trillion in 2014 YE Turkish banking sector asset volume has grown at a CAGR of 19% between and represents 111% of GDP in 2013, reflecting increasing prominence of Turkish banking sector Sector has low lending penetration with low loan-to-gdp ratio of 70% as of the third quarter of 2014, despite the fast growth in the last five years Well capitalized sector did not require government support during financial crises Strong regulatory environment ensuring transparency in the sector Strong asset quality, no exposure to subprime or toxic assets Low NPL ratio of 2.8% as of 2014 YE, reflects the assets quality and soundness, as well as the high Tier 1 ratio Source: All data sourced from BRSA and ECB Total Assets (TRY 000) &Assets to GDP (%) Banking Sector Assets +18% Total Loans and Industry NPL Ratios Penetration Ratios as of 3Q14 (%) Tier 1 Capital Adequacy Ratios in G20* 311 Total Assets/GDP 92 Turkey Loans/GDP 97 Eurozone 111 Assets to GDP Deposits/GDP 367 3, ,6 Russia India China Australia Korea Canada Italy Japan Brazil Argentina United States France South Africa Mexico Turkey United Kingdom Germany Saudi Arabia Indonesia 526 3,8 +22% Banking Sector Loans ,8 2,9 2, NPL * IMF Financial Soundness Indicators (FSI), Latest Data Available ,

10 Participation Banks in Turkey Ziraat İş Bankası Garanti Akbank Yapi Kredi Halkbank Vakifbank Finansbank Deniz TEB ING HSBC Kuveyt TFKB Odea AlBaraka Seker Asya 3Q14 Turkish Banking Sector (1) - Ranking by Asset Size (TRY bn) Participation banks comply with general Islamic principles, mainly the prohibition of interest and the concept of profit and loss sharing Participation Banks Participation banks are fully authorized to engage in all banking activities and are subject to all local regulations Currently four participation banks operate in Turkey with a total asset base of TRY 104.2bn representing 5.2% market share in the banking sector, as of 2014 YE In 2014, participation banks underperformed the sector because of difficulties faced by one of the participation banks Participation Bank Industry Evolution (BRSA) Asset Growth (TRY bn) Deposit Growth (TRY bn) Loan (2) Growth (TRY bn) 2014 Key Ratios (3) (%) CAGR 17% CAGR 14% CAGR 14% % 11.6% 16.3% 14.5% 4.6% 5.1% 5.5% 5.2% % 6.2% 6.5% 6.2% % 6.0% 5.9% 5.2% % 1.0% NPL ROAE CAR Assets Share in Sector Deposits Share in Sector Loans Share in Sector Banking Industry Participation Banking (1) Unconsolidated BRSA numbers (2) Loans currently excludes lease receivables (3) ROAE defined as current period income over average of current and preceding year equity Source: All data sourced from BRSA or respective bank financial statements 9

11 25 March Türkiye Finans: Business Overview

12 Türkiye Finans At a Glance Turkish full-service participation bank operating under Islamic banking principles 14th largest bank in the Turkey banking sector and 2nd largest participation bank among four participation banks by asset size as of 3Q % asset market share among participation banks as of 2014 YE Activities focused on core business segments: (i) retail banking (ii) corporate banking (iii) treasury (iv) international banking Named Best Islamic Bank in Turkey by Islamic Finance news magazine in 2014 Serving 2,7mn retail, 374k SME and 82k corporate clients. Number of credit cards are 425k and employing 4,478 people Outperformed banking sector and participation bank industry averages in terms of asset, loan, deposit and net profit growth as well as ROAE, as of 2014 YE Tier I capital ratio of 12.0% and CAR of 12.5%, well above regulatory requirements Senior unsecured rating of BBB from Fitch, one notch higher than Turkish sovereign rating 2014 YE Türkiye Finans vs. Bank Sector 33.3% 32.8% 18.3% 15.1% 11.6% 11.8% Asset Growth Cash Loan* Growth ROAE** Bank Sector Turkiye Finans Key Financials & Operational Highlights In TRY mn YoY Growth Total Assets 17,617 25,127 33,495 33% Total Loans 13,068 18,290 24,292 33% Total Deposits 11,430 15,142 19,113 26% Shareholder s Equity 2,125 2,522 3,154 25% Net Profit % Operational Highlights Number of Branches % Number of Employees 3,595 3,990 4,478 12% Key Financial Ratios NPLs / Total Loans 2.8% 2.5% 2.5% ROAA 1.8% 1.5% 1.1% ROAE 15.2% 14.2% 11.8% Tier I Ratio 13.9% 12.3% 12.0% CAR 14.8% 12.8% 12.5% *Cash Loan includes Net NPL, Leasing and Accruals ** ROAE defined as net income over average of preceding and current year equity *** Rating upgrade occurred as of 13 Nov Source: All data sourced from BRSA, Company FIlings *** Outlook Stable Stable Stable Stable Long-Term FC BBB- BBB BBB BBB Short-Term FC F3 F3 F3 F3 Long-Term LC BBB BBB+ BBB+ BBB+ Short-Term LC F3 F2 F2 F2 Viability Rating bb- bb- bb- bb- Support Rating National Rating AAA (tur) AAA (tur) AAA (tur) AAA (tur) Republic of Turkey FC Republic of Turkey LC Türkiye Finans - Fitch Ratings BB+ BBB- BBB- BBB- BB+ BBB BBB BBB 11

13 Türkiye Finans Core Segments Türkiye Finans Banking Platform National Presence Consumer Banking Accounts for 28.3% of operating income*, 12.1% of total assets, and 27.2% of total liabilities** as at 2014 YE Serves approximately 3.2 million customers across various products including retail accounts, credit/debit cards, consumer loans, mortgages, financings, and investment products Serves through 280 branches as well as alternative distribution channels including ATMs, internet banking, 24-hr telephone banking, and POS terminal payment locations Corporate Banking Accounts for 72.3% of operating income*, 61.2% of total assets, and 33.6% of total liabilities ** as at 2014 YE Serves 81,904 commercial businesses and 373,699 SME clients through various products including cash loans, non-cash loans, financial leasing, foreign trade and exchange services Treasury International Banking Accounts for 21.9% of total assets, and 27.5% of total liabilities ** as at 2014 YE Focuses on providing i) treasury products to customers, ii) proprietary trading, iii) liquidity and market risk management Correspondent banking relationships with approximately 1,100 banks in 132 countries Offers a wide range of in-bound and out-bound services and foreign trade transaction volume was USD 27.5bn as at 2014 YE TFKB offers a wide banking platform with a mature product offering TFKB has established a national footprint, with 10 regional offices; Akdeniz, Ankara, Ege, G.Dogu Anadolu, Istanbul Anatolian, Istanbul European I, Istanbul European II, Karadeniz, Kayseri and Marmara As at 31 Dec 2014, TFKB had 280 branches and 530 ATMs * Operating income includes net profit share income, net fee and commission income ** Total liabilities exclude equity Source: Company Disclosed BRSA Consolidated Financial Statements, Company sourced information 12

14 History & Vision Founded from Merger of Anadolu and Family Finans NCB Acquires Majority Stake Strong Financial Performance Vision 2017: Executing for Growth 1991: Anadolu Finans Kurumu founded 1999: Eight years later, Boydak Group acquired Anadolu Finans 2001: Ülker Group, acquired Faisal Finans and changed its name to Family Finans 2005: Türkiye Finans founded from the merger of Family Finans and Anadolu Finans 2008: The National Commercial Bank, the largest bank by asset size in Saudi Arabia, acquired an initial 60% stake followed by an additional 4.68% Share capital increased from TRY 292mn to TRY 800mn Asset base stood at TRY 7.0bn, cash loan book at TRY 5.6bn, and net profit at TRY 165mn, as of 31 Dec 2008 As of 31 Dec 2008, Türkiye Finans had 3,185 employees and operated a national footprint of 174 branches : Asset base grew at a CAGR of 31% to TRY33,5BN, cash loans grew at a CAGR of 28% to TRY24,3BN, and net profit grew at a CAGR of 14% to TRY334MM Share capital increased to TRY2,600MM, as of 31 Dec 2014 As of 31 Dec 2014 Türkiye Finans has 4,478 employees and operates 280 branches across a national geographical footprint, reaching 3.2mm customers 2014 and Beyond: Aims to achieve 2% market share of total financing in Turkey by 2017 up from 1.9%, as of 31 Dec 2014 Plans to reach 345 branches in 2017 to capture market share and regional growth Aims to increase its deposit base by an average of 22% p.a. until 2017 Further penetration into SME and consumer banking Further diversification of assets and liabilities to catalyze growth Focus on alternative distribution channels Source: Offering circular, company presentation, company annual report, BRSA 13

15 Türkiye Finans Ownership Structure Strong and supportive shareholder base share capital increased by TRY 2,308mn (of which TRY 750mn has been paid in cash) between 2007 and Sept % 10.57% 67.03% National Commercial Bank Boydak Group Ülker Group Total share capital: TRY 2,600mn On March 31, 2008, The National Commercial Bank acquired a 60% share of Türkiye Finans In 2008, Türkiye Finans share capital was increased from TRY 292mn to TRY 800mn In 2012, Türkiye Finans share capital was increased by TRY 850mn to TRY 1,650mn, of which TRY 150mn was paid-in cash and TRY 700mn of retained earnings Beginning of 2013, share capital was increased to TRY 1,775mn, through TRY 125mn paid-in cash With the General Assembly dated 29/08/2014, share capital increased to TRY 2,600mn with TRY 225mn of it being paid in cash and the remaining TRY 600mn coming from retained earnings. (Approved by BRSA at 18/11/2014) Founded in 1953, is the largest bank in Saudi Arabia by asset size and the largest bank in the Arab world in terms of capital Majority owned by government of Saudi Arabia through Ministry of Finance s Public Investment fund Total asset base of US$116.8bn, shareholder equity of US$11.9bn, and net income of US$1.852 bn, as of Sept Serves c. 3.5mn clients, operates 329 branches and has 7,119 employees as of 30 Sept Ratings: Fitch: A+ / S&P: A+ / Moody s: A1 Prominent Turkish conglomerate founded in 1957 carrying out its activities in miscellaneous fields from furniture, textile, chemistry, marketing, iron-steel, logistics, energy to informatics as leader of the industry Consolidated annual turnover of TRY6.15bn, in 2013 Active in 8 sectors, with 45 companies and staffs c. 14,000 employees 7 of Boydak Group companies ranked among Top500 industrial firms in Turkey Leading Turkish conglomerate in the food and beverage sector, founded in 1944 Consolidated annual turnover of TRY 15.7bn, in 2013 Acquired premium chocolate company, Godiva in 2007 Operates 68 companies, 58 factories, and staffs c.41,000 employees 13 of Ülker Group companies ranked among Top500 industrial firms in Turkey Source: Company Disclosed IFRS Consolidated Financial Statements, offering circular, company presentation, company annual reports 14

16 25 March Türkiye Finans: Financial Overview

17 Asset Composition Asset Base (1) Evolution (TRY mn) Healthy asset growth with 33% CAGR during period 10, % 2.7% 74.7% 13, % 2.8% 76.5% CAGR 33% 17, % 3.8% 72.5% 16.9% 16.2% 18.8% 25, % 5.6% 69.4% 33, % 8.5% 68.8% 19.1% 17.1% Cash Cash Loans & Leases Securities Fixed & Other Assets Asset Base Growth vs. Peers (2) (BRSA) Consistent higher asset growth than banking sector average 43% 37% 30% 33% 30% 29% 27% 23% 21% 25% 25% 20% 15% 11% 8.5% TFKB Participation Bank Industry Banking Sector Loan Evolution (TRY mn) Cash Loan (4) Growth vs. Peers (2) (BRSA) Total loans (3) grew at 29% CAGR between 2010 and 2014 period Growth in cash loan book outperforming banking sector for the last 3 years , CAGR 29% 26, ,256 65% 35% 16,886 61% 19,872 64% 39% 36% 66% 34% 68% 32% Non-Cash Loans Cash Loans (1) Reserve deposits at Central Bank of Turkey are included in the cash category for the purpose of this analysis; (2) Comparison based on BRSA financials (3) Total loans defined as cash and non-cash loans; (4) Cash loans includes Net NPL, Leasing and Accruals Source: BRSA Consolidated Financial Statements, BRSA, Company Filings 30.2% 40.0% 35.1% 32.1% 32.8% 21.2% 16.1% 18.3% 3.9% TFKB Participation Bank Industry Banking Sector 16

18 Loan Portfolio Structure & Quality Performing Cash Loans by Customer Segmentation Depending on regulatory changes made by the BRSA in 2014, the share of consumer loans in performing cash loans declined. 5% 8% 5% 4% 5% 16% 1% 15% 19% 20% 19% 1% 0% 79% 77% 76% 76% 75% Construction 13% 2Q14 Cash Loan Book Sector Breakdown Financing portfolio comprises 16 different industries Transportation & Communication 2% Services 5% Agriculture & Fishing 1% Other 7% Trade & Commerce 29% Corporate Foreign Institutions Consumer & Retail Export Other Retail 18% Manufacturing 25% Non-Performing Loan Ratio vs. Peers (2) (BRSA) Non-Performing Loan Coverage (2) vs. Peers (3) (BRSA) Despite absence of NPL sales until 3Q14, NPL levels consistently below banking sector and participation bank peer averages 4.7% 3.7% 3.5% 3.5% 3.1% 3.1% 3.0% 2.7% 2.9% 2.8% 2.8% 2.5% 2.3% 2.9% 2.5% 73.0% 75.1% 75.2% 73.4% 76.3% 73.8% 63.2% 61.8% 61.8% TFKB Participation Bank Industry Banking Sector TFKB Participation Bank Banking Sector (1) Gross cost of risk defined as gross loan loss provision over average net loans. Net cost of risk defined as net loan loss provisions over average net loans. (2) Calculated using allowances for individually impaired loans; (3) Comparisons based on BRSA and excludes performing lease receivables Source: IFRS Consolidated Financial Statements, BRSA, offering circular 17

19 Liability and Liquidity Profile Liabilities Evolution (TRY mn) Maturity of Funds Borrowed (TRY mn) 30,340 3,701 TL CAGR 34% 22, % 2.4% 9, % 2.9% 6.9% 11, % 2.7% 16.9% 74.7% 15, % 2.2% 16.2% 76.8% 3.9% 3.3% 18.8% 74.0% 19.1% 72.7% 1,178 TL 1,399 TL 1,105 TL 2,163 TL 1,928 TL 1,939 TL 82.6% 127 TL 334 TL Deposits Funds Borrowed Provisions Other Short-term Long-term 2014 YE Liquidity Ratios (1) (BRSA) Funds Borrowed Highlights 23% 27% 27% Liquid Assets* / Total Assets 130% 120% 108% Loans / Total Deposits** Deposits continue to be major source of funding, while the share of funds borrowed within total liabilities has been significantly growing with the intention of diversifying the funding base TFKB borrowed four syndication loans which will mature in June 2015 amounting to USD 593,500,000 and EUR 85,500,000. The portion amounting to USD 340,000,000 and EUR 13,500,000 of syndication loans was borrowed in June 2013 and the remaining portion was borrowed in June 2014.Average maturity of funds borrowed increased from 725 days as of 31 Dec 2012 to 974 days as of 31 Dec 2013 Funds borrowed mainly comprise largely bilateral financing agreements except a syndicated murabaha financing with two tranches (1 year and 2 years) The split of borrowing maturities at 2014 YE was 34% long term and 66% short term borrowing TFKB Participation Bank Industry Banking Sector (1) Comparison based on BRSA financials; * Liquid assets defined as cash & equivalents, reserve requirements, inter and central bank money market receivables, AFS and trading government securities, and repo receivables ** Total deposits include accruals Source: BRSA Consolidated Financial Statements, BRSA, offering circular 18

20 Deposit Structure Türkiye Finans offers two types of deposits Current accounts (i.e. demand deposit) Participation accounts: a profit sharing account where any profits earned are shared between account holders and Türkiye Finans 2014 YE Total Deposits by Maturity Up to 1 year 2.6% Up to 6 month 2.9% More than 1 year 3.9% Demand 22.5% Returns on participation accounts are linked to the return on the investment pool; thus no promised rate of return to account holders 52.3% of total deposits have a maturity of 1-3 months Up to 3 month 52.3% Up to 1 month 15.8% 2014 YE Customer Deposits by Account* 2014 YE Total Deposits* by Currency 31.0% 37.2% Foreign Currency 34.9% 59.8% 69.0% 62.8% 40.2% Turkish Lira 65.1% Current Account (Demand Deposit) Profit Sharing Accounts Total Deposits Retail Corporate * Excluding precious metal Source: BRSA Consolidated Financial Statements 19

21 Revenue Structure Operating Income Evolution (TRY mn) Lending activity has driven top-line growth with profit share income accounting for 76% of total income in 2014 YE CAGR 3 20% 1, , , ,098 Net Profit Share Evolution (TRY mn) Strong net profit share performance with a 13% CAGR between CAGR 3 13% Net Profit Share Income Net Fees and Commissions Other Non-Profit Share Net Profit Share Growth vs. Peers (1) (BRSA) NIM (2) vs. Peers (1) (BRSA) Türkiye Finans NIM outperforming participation banking peer averages over the past four years 22% 14% 19% 16% 15% 5% 2% 0% % 4.8% 4.7% 4.5% 4.9% 4.4% 4.0% 5.5% 4.8% 4.7% 4.3% 4.4% 4.4% 4.2% 4.1% 3.9% TFKB Participation Bank Industry Banking Sector TFKB Participation Bank Industry Banking Sector (1)Comparisons based on BRSA financials; defined as net profit share income before provisions; defined as net interest income before provisions for conventional banks (2) NIM is defined as net profit share (or net interest income for conventional banks) over average earning assets defined as loans and advances to banks and loans, lease receivables and advances to customers and investment and securities (3) CAGR Assumes annualized income figures Source: BRSA, offering circular 20

22 Cost Management Cost to Income (1) vs. Peers (BRSA) Operating Expense Evolution (TRY mn) 62.9% 64.5% 60.6% 58.4% 57.2% 48.1% 55.9% 52.7% 54.8% 51.6% 56.7% 55.1% 61.9% 88.9% 58.0% TFKB Participation Bank Industry Banking Sector 2014 YE Breakdown of Operating Expenses Operating Expenses to Average Assets Other 16.0% Depreciation & Amortization 6.8% Personnel 50.6% 3.6% 3.2% 3.0% 2.7% 2.5% Administrative 26.6% (1) Comparison based on BRSA financials. TFKB cost to income ratio calculated as operating income excluding financial asset impairment; Participation Bank and Bank sector cost to income nets capital market transactions, nets fx gains/losses, and excludes fees and commissions expenses Source: BRSA Consolidated Financial Statements, BRSA 21

23 Profitability Net Profit Evolution (TRY mn) ROAA (1) vs. Peers (BRSA) CAGR 13% % 1.3% 1.1% 1.2% Banking Sector ALBRK* TFKB KVYT ROAE & ROAA Evolution ROAE (2) Relative to Peers (BRSA) Outperformed bank sector and participation bank average in terms of ROAE for the last 4 years 15.8% 15.3% 15.2% 14.2% 11.8% 18.0% 15.8% 15.4% 15.3% 15.2% 13.8% 14.2% 13.5% 14.4% 14.2% 13.0% 13.1% 11.8% 11.6% 2.1% 1.9% 1.8% 1.5% ROAE ROAA 1.1% 1.0% TFKB Participation Bank Industry Banking Sector (1) Comparison based on BRSA financials; ROAA defined as net profit over average of preceding and current year-end equity and assets (2) Comparison based on BRSA financials and ROAE calculated as net profit over average of current and preceding year-end equity Source: BRSA 22

24 Capitalization Shareholder s Equity (1) Evolution (TRY mn) Capital Adequacy Ratio (2) (BRSA) Capital ratio above BRSA recommendations 1,611 1,406 17% 46% 4% 4% CAGR 22% 2,124 30% 5% 2,522 39% 5% 65% 56% 3,154 47% 4% 49% 8.0% 12.0% 12.5% 50% 79% Share Capital Reserves Retained Earnings Regulatory Minimum BRSA Recommendation TFKB Evolution of Capital Ratio Key Capitalization Ratios 14.2% 14.8% 0.5% 0.9% 13.7% 13.9% 12.8% 12.5% 0.5% 0.5% 12.3% 12.0% In TRY mn Tier I 1,555 1,980 2,403 3,040 Tier II Adjustments (1) (1) (2) (3) Total Regulatory Capital 1,617 2,108 2,498 3,165 RWA 11,358 14,279 19,499 25,384 Tier I Ratio 13.7% 13.9% 12.3% 12.0% Tier 1 Ratio Tier 2 Ratio CAR CAR 14.2% 14.8% 12.8% 12.5% (1) Comparisons based on BRSA financials Source: Consolidated Financial Statements, BRSA 23

25 Foreign Trade Volumes Foreign Trade Volumes (USD mn) Non-Cash Loans (USD bl) +21% +10% +6% +54% % % L/Cs L/Gs L/C volumes (USD Mn) L/G volumes(usd Mn) +4% Confirmed L/Cs Unconfirmed L/Cs % 276 Counter L/Gs Direct L/Gs Q4 14Q4 13Q4 14Q4 24

26 Awards and Recognition World Finance - World Finance 100 January 2015 Islamic Finance News Magazine Awards - Turkey s Best Participation Bank Award - January 2015 Islamic Finance News Awards The Most successful bank in the category of «Turkey Operations» in January 2015 Global Financial Market Review Awards - Turkey s Best Participation Bank Award - December 2014 CIO 2014 Award - Agile Transformation Project November 2014 LACP / 2013 Vision Awards - Türkiye Finans 2013 Annual Report won 6 awards - August Gold Award and Best Annual Report - Commercial Banks Annual Reports 2. Bronze award - financial information presentation 3. One of the Top 20 Annual Report of Turkey 4. One of the 100 Best Annual Report of the World 5. One of the Top 80 Annual Report of the Africa, Central Asia and Europe 6. Gold Award Interactive (Web) Annual Report Global Banking and Finance Review Magazine; 4 Awards July Turkey s Best Common Brand Credit Card 2.Turkey s Fastest Growing Retail Bank 3.Turkey s Fastest Growing Commercial Bank 4.Turkey s Fastest Growing SME Bank World Finance - World Finance Awards; Best Islamic Bank in Turkey (Turkey s Best Participation Bank Award) - March 2014 MasterCard Fastest Growing Bank March

27 25 March 2013 Appendix

28 BRSA 2010 YE YE Balance Sheet Balance Sheet Highlights (TRY'000) CAGR Cash & CB % Due from Banks % Investments / Securities % Loans (Net) % - Performing Loans % - NPLs % - Sp. Provisions % Fixed & Other Assets % Total Assets % Customer Deposits % Due to Banks* % Other Liabilities % Shareholders' Funds % Total Liabilities & Equity % *Include Funds Borrowed and Money Market Balances Source: TFKB Consolidated Financial Statements 27

29 BRSA 2010 YE YE Income Statement Income Statement Highlights (TRY'000) CAGR Profit Share Income % Profit Share Expense % NRFF % Net Fees & Commission Income % Trading Income % NOR % OPEX % - Staff Expenses % - Other Operating Expenses % Net Operating Income (NOI) % Net Credit Expenses (Provisions) % Other Income / Expense % Taxes % Net Income (NI) % Source: TFKB Consolidated Financial Statements 28

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