We continue our consumer finance activities with KoçFinans, Turkey s first consumer finance company.

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1 BANKING AND INSURANCE As the leading banking and insurance group in Turkey, we are the key thanks to our customer-oriented approach, strong financial structure, and millions of active customers. As Yapı Kredi, we pursue a customer-centered strategy that serves 6.5 million active customers. We maintain our leadership in the credit card market. We continue our consumer finance activities with KoçFinans, Turkey s first consumer finance company.

2 Abdullah Karakuş Yapı Kredi Bankası koç GROUP

3 BANKING AND INSURANCE In 2012, the banking sector recorded solid profitability with an average return on equity of 15.8% despite the impact of competition and regulation. Economic conditions in was marked by positive differentiation of developing countries driving global economic growth of around 3%. Economic growth in developed countries, especially the United States (US) and Europe, remained subdued due to impact of the debt crisis in European Union (EU). In this global economic backdrop, Turkey maintained its sound macroeconomic fundamentals supported by proactive monetary policy by the Central Bank of Turkey. Softlanding of the economy was achieved with slight deceleration in economic growth to 3%, mainly driven by external demand. Sound fiscal discipline was maintained throughout the year. Sustainable macroeconomic environment and solid banking system led to an upgrade in Turkey s sovereign investment grade to BBB- by Fitch in November Banking sector in 2012 In 2012, the banking sector recorded solid profitability with a 15.8% return on average equity despite the impact of regulation and competition. Total loan volume increased by 15% annually to TL 751 billion driven by 21% local currency loan growth. Total deposits increased by 11% annually to TL 768 billion. Diversification of funding continued through 2012 via issuances of TL 22 billion local currency bonds and US$ 9 billion Eurobonds. Meanwhile, transition to Basel II capital standards in July 2012 was completed successfully with strong capital levels maintained. Koç Holding Banking and Insurance Group Koç Financial Services, a Koç Holding and UniCredit Group Italia joint venture, and KoçFinans, Turkey s first consumer finance company, operate in this segment under the Banking and Insurance Group. Koç Financial Services is the parent company of Yapı Kredi, established in 1944 as Turkey s first private nationwide bank, and of various subsidiaries that are leaders in their own segments. Yapı Kredi serves its 6.5 million customers through retail banking (which includes card payment systems, individual banking and SME banking), corporate and commercial banking as well as private banking and wealth management. * Participating banks are excluded from sector data 86 / 87 KOÇ HOLDİNG Annual RePORt 2012

4 YAPI KREDİ Yapı Kredi s Key to Sustainable Performance: Easy to work Bank via customer oriented business strategy Strong focus on core banking The right product/service to right customer through the right channel at the right price koç GROUP Market Shares 4 th among private banks in terms of asset size Leader in credit cards with 19.4% market share in outstanding, 19.3% market share in acquiring volume; 17.2% market share in number of credit cards Leader in financial leasing with 17.2% market share and in factoring with 15.0% market share 2 nd in mutual funds with 17.6% market share and equity transaction volume with 7.0% market share Leader in health insurance with 22.7% market share 4 th in life insurance with 7.7% market share, 5 th in non-life insurance with 7.2% market share, 5 th in branch network with 9.1% market share 6 th in ATM network with 7.8% market share Pioneer in mobile banking with 12.0% market share Total Assets US$ 76 billion Return on Average Equity 16.2% (17.5% Tangible RoAE) Shareholder Structure Koç Financial Services 81.8% Free Float 18.2% 2012 Yapı Kredi performance In 2012, Yapı Kredi recorded healthy performance with consolidated net income of TL 2.1 billion and return on average tangible equity of 17.5%. Yapı Kredi s solid performance continued to be recognized internationally in 2012 with more than 20 awards in various areas ranging from alternative delivery channels and products to training activities. Yapı Kredi was chosen as the Best Bank in Turkey for the 3 rd time by World Finance, the Best Bank in Finance Services by Global Finance and One of the Three Most Admired Turkish Banks by Capital Magazine. The Bank also received the Top Employer in Europe award by the CFR Institute, which recognizes best implementations in human resources field. Successful implementation of Smart Growth strategy In 2012, Yapı Kredi continued its strong emphasis on value generating growth in line with Smart Growth strategy. Total loans increased by 12% driven by 22% growth in local currency loans. The Bank s loans to assets ratio, an indicator of customer oriented banking, realized at 59%. The Bank recorded significantly above sector annual growth of 17% in local currency deposits while effectively managing deposit costs through unique one-to-one deposit pricing initiative allowing the Bank to scientifically determine deposit rates based on customer price elasticity and behavior. Accordingly, total deposit volume increased by 7% annually. Continuation of funding diversification via high creditability In 2012, Yapı Kredi strengthened its funding base and diversified its funding sources through US$ 2.7 billion syndications, US$ 500 million Eurobond, TL 1.2 billion local currency bonds and TL 458 million SME backed covered bond. Yapı Kredi also successfully finalized a subordinated debt issuance of US$ 1 billion towards the end of the year with strong interest from international investors, leading to 7 times subscription. The transaction was closed with the lowest interest rate for this type of funding so far in the Turkish banking sector.

5 BANKING AND INSURANCE YAPI KREDİ Strong performance in core revenues Throughout the year, Yapı Kredi continued to positively differentiate in the banking sector, leveraging on its key success factors which include customer-business focus and healthy revenue structure. Revenues increased by 11% annually to TL 7,401 million on the back of strong 18% core revenue growth, despite new regulations and increasing competition. In terms of cost management, Yapı Kredi is considered a benchmark in the sector. The Bank is able to manage cost through efficiency gains while at the same time continuing investments for organic growth. Accordingly, cost to income ratio remained stable at 44%. The first and only mobile banking application which works on all platforms As of the end of 2012, following 21 new net branch openings, Yapı Kredi has a total of 988 branches at Group level (928 at Bank level) covering 91% of Turkey and 17,461 thousand employees through which it serves 6.5 million customers. The Bank s wide service network consists of 2,819 ATMs, innovative internet banking with 10% market share, leading mobile banking with 12% market share and two award winning call centers. The Bank continuously invests in its ADCs to improve customer satisfaction and efficiency. In total, the share of ADCs in Yapı Kredi s total banking transactions reached 80% as of the end of 2012 from 56% in targets In 2013, Yapı Kredi will continue its customer-oriented approach and focus on value generating growth, aligned with its Smart Growth strategy. The Bank plans to open new branches in 2013 in line with its organic growth plans. 88 / 89 KOÇ HOLDİNG Annual RePORt 2012 Yapı Kredİ s subsidiaries* Yapı Kredi s financial services subsidiaries Yapı Kredi Leasing Established in 1987 and 98.85% owned by Yapı Kredi, Yapı Kredi Leasing is a leader in its sector with a 17.2% market share in transaction volume. Throughout the year, number of contracts generated from SME customers reached 44% as a result of continuous focus on strengthening its position in SME business. Yapı Kredi Faktoring (Factoring) Established in 1999 and 99.96% owned by Yapı Kredi, Yapı Kredi Factoring is a leader in its sector with a 15% market share in terms of factoring receivables. Yapı Kredi Factoring realized a total transaction volume of US$ 6.1 billion as of the end of Yapı Kredi Yatırım (Investment) Established in 1989 and 99.98% owned by Yapı Kredi, Yapı Kredi Invest is the leading securities house in Turkey with 19.6% market share in ISE and TurkDEX trading volume and ranks 2 nd among brokerage houses in terms of equity transaction volume with 7% market share. The Company is also leader in equity and fixed income securities volume with total transaction volume of TL 689 billion, indicating an annual increase of 13%. Yapı Kredi Portföy Yönetimi (Asset Management) Established in 2002 and 99.97% owned by Yapı Kredi, Yapı Kredi Asset Management is ranked 2 nd in terms of assets under management with 17.6% market share as of the end of During the year, total assets under management volume increased by 18% to TL 9.6 billion. * Ownership ratios refers to direct and indirect shares of Yapı Kredi in the relevant subsidiary.

6 Koçfinans, Turkey s first consumer finance company, extended a total of TL 1,287 million in loans in koç GROUP Insurance Subsidiaries Yapı Kredi Sigorta (Insurance) Established in 1943 and 93.94% owned directly and indirectly by Yapı Kredi, Yapı Kredi Sigorta is ranked 5 th in non-life business line with 7.2% market share. Yapı Kredi Insurance has a market capitalization of TL 1.7 billion as of the end of The company s market share through bancassurance channel reached 11.5% compared to 10.8% in Yapı Kredi Emeklilik (Pensions) Established in 1991, Yapı Kredi Pension is almost fully owned by Yapı Kredi Insurance. In terms of private pension funds, Yapı Kredi Pension improved ranking by one notch to 3 rd place in 2012 with 17.1% market share. In terms of life insurance premiums, the company also improved its ranking by one notch to 4 th place with 7.7% market share. International Subsidiaries Yapı Kredi Bank Nederland Yapı Kredi Bank Nederland is fully owned by Yapı Kredi. As of the end of 2012, the bank has an asset size of US$ 1.8 billion. KOÇFİNANS KoçFinans is Turkey s first consumer finance company. Extending a total of TL 1,287 million in loans in 2012, the Company holds 5% of active auto loans nationally, including loans of banks and other financial services companies. Overall, KoçFinans s loan portfolio consists of TL 1,501 million in auto (84,727 units) and TL 19 million (6,039 units) in consumer durables and housing loans. The Company expects growth of 9.5% in the loan portfolio in KoçFinans is Turkey s only finance company to provide loans in such highly diversified segments as auto, housing and consumer durables. In 2012, the Company completed a TL 465 million bond issue, raising its securities balance to TL 753 million and providing 55% of its funding needs directly. KoçFinans also provides insurance brokerage services in conjunction with its lending business. Yapı Kredi Bank Moscow Established in 1988 as a representative office, Yapı Kredi Bank Moscow is 99.84% owned by Yapı Kredi. As of the end of 2012, the bank has an asset of US$ 212 million. Yapı Kredi Bank Azerbaijan Yapı Kredi Bank Azerbaijan is 99.84% owned by Yapı Kredi. As of the end of 2012, the bank has an asset size of US$ 295 million. Other subsidiaries Yapı Kredi s other subsidiaries include Yapı Kredi Kültür Sanat Yayıncılık (Culture, Arts and Publishing), Yapı Kredi Koray Real Estate Investment Trust and Banque de Commerce et de Placements.

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