1

1H05 BRSA Bank Only Financial Results

29 July 2005

2

Highlights

Total assets increased 28% y-t-d, reaching TRY 44.7bn (USD 32.8bn)

Continued growth in loan portfolio of 32% y-t-d

41% growth in TL loans -mostly made up of high yield SME and consumer loans

Aggressive growth in customer deposits, up 32% y-t-d, generated from 87% growth

in TL customer deposits

Net commission income growth 57% y-o-y, driven by the strong growth in credit card

and consumer loan related revenues

40% growth in net profit, reaching TRY 778mn (USD 571mn)

3

Highlights

44.7

37.834.9

0.0

10.0

20.0

30.0

40.0

50.0

YE04 1Q05 1H05

Total Assets (TRY billion)

12.913.9

17.1

0.0

5.0

10.0

15.0

20.0

YE04 1Q05 1H05

Loans (TRY billion)

19.922.0

27.0

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

YE04 1Q05 1H05

Deposits (TRY billion)

554

778

0

100

200

300

400

500

600

700

800

1H04* 1H05

Net Profit (TRY million)

8%

18%

7%23%

10%23%

40%

* At YE04 prices

4

•Total Loans 1 2

•Total Consumer Loans 1 2

• Car Loans 1 2

• Mortgages 1 1

•Deposits 1 2

•Asset size 2 2

We are improving our rankings*

1H05 1H04

* Private Commercial Banks

5

Net interest income

Net fee income

Income before tax

Net income

ROAA (%)

ROAE (%)

1H05 1H04*

Profitability

1,285

304

1,119

778

3.9%

26.3%

1,252

194

803

554

3.4%

19.5%

3%

57%

39%

40%

changeProfitability performance (TRY mn.)

* At YE04 prices

6

Interest Earning Assets / Total Assets

Interest Bearing Liabilities / Total Liabilities

Gross Loans / Total Assets

Loans / Deposits*

Deposits / Total Assets

NPL Ratio

Capital Adequacy Ratio (Basel I)**

1H05 YE04

95.4%

83.4%

39.0%

64.4%

60.4%

1.7%

23.5%

95.9%

78.0%

37.6%

66.0%

57.1%

1.6%

36.2%

Ratios

Balance sheet performance

* Blocked demand deposits of POS merchants (TRY 528mn), which encompasses the character of a demand deposit, is booked as “Miscellaneous Payables” instead of deposits**The sharp fall in the Capital Adequacy Ratio is effected from the share buy-back as well as increase in capital requirement on credit card limits to 100% and strong growth in loans

7

Composition of securities

TL FX

Fixed

Floating

48%

52% 38%

62%

Securities to total assets shrunk to 41% from 44% y-t-d

Eurobonds amounting to USD 307mn (TRY 418mn) and USD 52mn (TRY 70mn) are registered under trading and available-for-sale securities portfolios, respectively

68% of TL securities are carried under available-for-sale securities, profits being booked under equity

Composition of securities (TRY bn.)

9.1 9.2

8

TRY11.0bn.TRY

7.8bn.TRY

8.6bn.

USD4.5bn.

USD3.8bn.

USD3.8bn.

01.0002.0003.0004.0005.0006.0007.0008.0009.000

10.00011.00012.00013.00014.00015.00016.00017.000

YE04 1Q05 1H05

Loans

64%60%

TRY 12,9 bn.

TRY 17.1 bn.

up 32% y-t-d

TL loans surged 41% y-t-d, compared to 23% growth in the sector

Akbank’s market share in loans reached 14%* from 12.7% y-t-d

Despite the strong growth, NPL ratio has been low at 1.7% and fully provisioned

Composition of Loans

62%

TRY 13.9 bn.

* According to provisional market data

9

23% 30%

16%27%

39%26%

20% 12%

31% 31%

8%

28% 31%

7%

25% 26%

50%

11% 9%29%

2002 2003 2004 1Q05 1H05

Consumer SME Corporate Project Finance

Breakdown of Loans

Consumer and SME lending is now ~62% of total loans

Growth (y-t-d)

36%

47%

33%

6%

10

Segment based developments

11

2,1503,143

1,962

3,1251,600

2,526

0

5001,000

1,5002,000

2,5003,000

3,5004,000

4,5005,000

5,500

Akbank Garanti İşbank

Akbank is today # 1 in retail lending

Consumer Lending (1H05, TRY mn.)

4,4884,743

Credit Cards LoansConsumer Lending

5,275

12

1,869 1,921

2,150

14.4%13.6% 13.9%

500

800

1,100

1,400

1,700

2,000

2,300

2004 1Q05 1H05

0

5

10

15

2,397

2,285

2,618

13.7%13.2% 13.8%

2,000

4Q04 1Q05 2Q05

0.0%

5.0%

10.0%

15.0%

Credit Card Loans1 Credit Cards Issuing Volume1

Retail Banking - credit cards

Strong product mix and solid retail partners has boosted the credit card business

15% growth in credit card loans y-t-d

3 million active credit cards by 1H05

1 Amex is included

Market shares are cumulative

13

Retail Banking - consumer loans

1 Numbers represent direct lending to individuals, excluding credit cards

Akbank’s consumer loans’ market share reached 16.0%

Market share in car loans reached at 26.6%

Market share in morgage loans reached 16.7%

Consumer Loans1 (TRY mn.)

611 697 809

349522

989

1,3261,197

1,050

2004 1Q05 1H05

General purpose Auto loans Mortgage

55% y-t-d

2,4162,010

3,125

14

Retail Banking - small business

Small Business Loans1 (TRY mn.)

Only 4% in FX

2,095

2.491

3.108

2004 1Q05 1H05

48% y-t-d

1 Small business loans given to companies with sales turnover <USD 2 mn are granted by the retail banking unit

Special credit packages for;

Certain sectors and regions (pharmaceuticals, agriculture, tourism etc.)

Dealer networks of corporate clients (ie. Microsoft, IBM, Bosch, Arçelik)Cross sell ratio in small business loans is 3.1x

15

Commercial Banking

Commercial Loans1

Commercial loans are also considered as a hook product, which paves the way for further marketing opportunities like cash management services and foreign trade products

There is already 41 commercial banking centers in 16 provinces and we are targeting to add approx. 5 more in a year

Cross sell ratio in commercial loans is 3.9x

1 Medium size companies with sales turnover btw. USD 2–30 mn are serviced through our commercial banking unit

750

401

901

701

480

1,371

0100200300400500600700800900

1,0001,1001,2001,3001,4001,500

2004 1Q05

(USD mn.)(TRY mn.)

1H05

75% y-t-d

83% y-t-d

2004 1Q05 1H05

TL cash loans FX cash loans

16

Corporate Banking

Loans to blue-chip companies like Ford, Unilever, Carrefour reached USD 3.3

billion registering a 33% increase y-t-d

Project finance loans stand at USD 1.1 billion

Special and structured financial solutions for corporate needs like cash

management products regulating the collection and payment cycle of

companies

Blue-chip companies provide excellent cross-sell opportunities (3.8x)

17

3,9333,8273,707

15%14%

15%

1.000

2.000

3.000

4.000

5.000

2004 1Q05 1H05

7%

9%

11%

13%

15%

Mutual Funds (TRY mn.)

Asset management

Currently #2 in mutual funds

The underlying factors behind this; Superior channel management Superior asset management performance Effective marketing and communication

Private Banking Assets (USD mn.)

Wide range of domestic and

international investment products

Top quality investment advisory service

Cross-sell ratio in private banking is 3.7x

Volume Market share (%)

3,795 3,825

4,266

2004 1Q05 1H05

18

8%6%

9%10%

36%29%

31%27%

17%

27%

YE04 1H05

TL Deposits

FX Deposits

Bonds in Custody

Mutual Funds

Repo

87% y-t-d

Breakdown of customer assets

TRY 39 bn

TRY 46 bn

Total customer assets surged 19% year-to-date, compared to 5% for the sector Akbank’s market share for total customer assets constitutes 15% of the market

versus 13% in YE04

Market share

10%

15%

19%

14%

36%

19

3%4%

45%

59%

5%

4%

47%33%

1H04* 1H05

Other From securities From FX Loans From TL Loans

Composition of interest income

Income statement - composition of interest income

Growth in TL loans has had a dramatic impact on interest income

2.32.2TRY bn.

*At YE04 prices

20

194

304

1H04* 1H05

Net Fees & Commissions (BRSA, TRY mn.)

Net fees and commissions

Net fee and commission income growth is mainly due to the rapid growth in credit card and consumer loan related revenues

We continue to implement and increase fees in all the product base

*At YE04 prices

57%

Fees and commissions revenue contribution

Credit cards commissions

Asset management

fees Money transfer

fees

Other

Consumer loan

related

Corporate loan

related

Merchant commissions

21%

16%4%

27%

6%

12%

14%

21

62

16

24

40

0

10

20

30

40

50

60

70

2002 2003 2004 1H05

Net fees & commissions/operating expense

19

6 7

17

0

5

10

15

20

25

2002 2003 2004 1H05

Net fees & commissions/operating income

Improving fee income ratios in line with targets

We are rapidly approaching our medium term fee to income target of 25%

22

2.62.5

1H04 1H05

Efficiency ratios

Restructuring of branches will largely be finalized at YE05

Centralization together with the new technology infrastructure continue to allow us to keep operational costs subdued

Operating expense/average assets (%)

34.9

30.9

1H04 1H05

Cost/income (%)

23

Net interest margin

8.5 8.3

7.3 7.1

0.0

2.0

4.0

6.0

8.0

10.0

1H04 YE04 1Q05 1H05

NIM (%)

6.5

6.7

6.5

6.7

5.0

5.5

6.0

6.5

7.0

1H04* YE04* 1Q05 1H05

NIM (after FX loss, loan provision)

* 1H04 and YE04 figures are after monetary loss

Net interest margin is only falling gradually due to the shift into TL assets

24

Asset switch to TL loans from TL securities continues to affect the interest spread positively A y-o-y increase of 57% in net commissions has had an important impact on profitability

778

Net fees

income

Tax Net

income

1,285

304

93

133 -167

-341

NII Net trading

income

Other

income

Operating

expense

-529

Provisions

Income statement summary

Income statement summary (1H05, TRY million)

25

Total Equity (BRSA, TRY mn.)

AKBANK

Buy-back of founders’ shares has reduced equity Akbank will continue to optimize its capital structure through its dividend policy of 30% min. -

50% max. cash dividend payment Akbank’s strong free capital is a major cushion against the effects of any market volatility

Free capital comparison

5831,321

4,370

0

2,000

4,000

6,000

8,000

Akbank İş Garanti

Free Capital Equity Participations Fixed Assets

Free Capital 1H05 (BRSA, TRY mn.)

6,227

5,611

YE04 1H05

26

Akbank is the 1st bank in Turkey to buy its founders’ shares

Akbank finalized the buy-back of its founders and usufruct shares from its

extraordinary reserves, on 28 June 2005

The target for the transaction was;

To create value for ordinary shareholders as they will be eligible to receive

dividend payments from a larger pool of distributable profit

To reduce excess capital by approx. USD 750mn

To enhance ROE and therefore the overall valuation of the bank

To improve corporate governance

To clear the way for potential strategic partnerships and mergers in the future

for Akbank

27

TOTAL ASSETS

Cash and Due from Banks

Securities

Loans

TOTAL LIABILITIES

Deposits

Funds Borrowed

TOTAL EQUITY

BRSA(TRY mn.) 2004 2004

Shares (%)

Balance sheet highlights

34,913

1,995

15,238

12,939

28,686

19,918

4,845

6,227

6

44

37

57

14

18

1H05

44,673

2,747

18,308

17,109

39,062

27,005

5,790

5,611

6

41

38

60

13

13

1H05

28

Income statement highlights

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

Monetary Loss

Income Before TaxTax

Net Income

BRSA (TRY mn.) 1H04*

2,190

(938)

1,252

(105)

(51)

1,096

194

225

1,654

(421)

(360)

803

(249)

554

1H05

2,317

(1,032)

1,285

11

(143)

1,153

304

68

1,769

(490)

-

1,119

(341)

778

* Amounts are expressed in terms of the purchasing power of TL at 31 December 2004

29

TOTAL ASSETS

Cash and Due from Banks

Securities

Loans

TOTAL LIABILITIES

Deposits

Funds Borrowed

TOTAL EQUITY

BRSA(USD mn.*) 2004 2004

Shares (%)

25,490

1,456

11,125

9,447

20,943

14,542

3,537

4,547

* Figures are stated with exchange rates effective at respective dates

Balance sheet highlights in USD

6

44

37

57

14

18

32,799

2,017

13,442

12,561

28,680

19,827

4,251

4,119

6

41

38

60

13

13

1H05 1H05

30

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

Monetary Loss

Income Before Tax Tax

Net Income

BRSA (USD mn.*)

Income statement highlights in USD

* Figures are stated with exchange rates effective at respective dates

1H041H05

1,701

(758)

943

8

(105)

846

223

50

1,299

(360)

-

821

(251)

571

1,387

(595)

792

(66)

(32)

694

123

143

1,046

(267)

(228)

508157

351

31

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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