banks in turkey 2009 - banks association of turkey€¦ · the turkish economy main economic...

MAY 2010

20092009BANKS IN TURKEYBANKS IN TURKEY

BANKS IN TURKEY2009

May 2010

Publication No: 268

ISSN 1300 - 6460 (printed)

ISSN 1308 - 3678 (online)

ISBN 978-975-8564-78-1 (printed)

ISBN 978-975-8564-79-8 (online)

Copyright © The Banks Association of Turkey, 2010

Publication Name : Banks in Turkey

Publication Type : Local Periodical

Publication Period : Annual

Owner of the Publication : The Banks Association of Turkey

Managing Director : Dr. Ekrem Keskin

Address : Nispetiye Cad. Akmerkez, B3 Blok Kat 13, Etiler, 34340 stanbul

Phone : +90-212-282 09 73

Fax : +90-212-282 09 46

E-mail : [email protected]

URL : http://www.tbb.org.tr/english

Printed in : Paragraf Bas m Sanayi A. .

Address : Yüzy l Mah. Matbaac lar Sitesi, 2.Cad. No 202/A, Ba c lar, 34560 stanbul

Phone : +90-212-629 06 07-10

Fax : +90- 212-629 03 85

Certificate No: 17188

All rights reserved. No part of this report may be reproduced or transmitted, in any form or by any means, electronic, photocopying or otherwise, without the prior written permission of the Banks Association of Turkey.

Whilst every effort has been made to ensure that the information contained in this book is correct, the Banks Association of Turkey can not accept any responsibility for any errors or omissions or for any consequences resulting therefrom.

This book is prepared from the year-end audited and non-consolidated "The Common Data Set" of deposit banks and development and investment banks, that are prepared according to related Communique -Financial Statements and Related Explanation and Footnotes of the banks that is disclosed to the Public-

2010.34.Y.8564.3

Contents

Page No.

Preface………………………………..….……………………………………………………… v

Main Economic Indicators………...………………………………….…………….............. vi

Turkish Economy and Banking System in 2009…………………………...……………… I-1

General Outlook….……………………………….……………………………………….... I-1

Developments in the Turkish Economy in 2009………..……….…………..………...... I-13

Turkish Banking System in 2009 …….........………...…………...………................... I-34

The Banks Association of Turkey and

Banks Operating in Turkey…………………………………..…………………………........ II-1

The Banking System in Turkey……………………………..………………..……………… II-9

Deposit Banks..…………………………………...……........………………….....………. II-14

State-owned Banks..……...……………...................……....…………………………… II-18

Privately-owned Banks...........…….....…...…….......……............…………………… II-22

Banks Under the Deposit Insurance Fund...........………….....………….................. II-26

Foreign Banks……………………………………...………..…........…….................... II-30

Development and Investment Banks………………….…………………………………… II-34

i

Page No.

Balance Sheets of the Banks………..……………………………….…………….……...... II-39

Deposit Banks.....................…………………….....…........................…...…….............. II-41

State-owned Banks…………………..........……..………………............................... II-43

Türkiye Cumhuriyeti Ziraat Bankas A. .……………………………….………… II-44

Türkiye Halk Bankas A. ……………………………………………..…………… II-48

Türkiye Vak flar Bankas T.A.O…………………………………………..………… II-52

Privately-owned Banks……………………..…………………………………………...… II-57

Adabank A. …………………………………………..…………………………… II-58

Akbank T.A. ………………………………………………………………………. II-62

Alternatif Bank A. …………………………………...……..……………………… II-66

Anadolubank A. ………………………………………...…...…...……………… II-70

ekerbank T.A. .…………………………………………………………………… II-74

Tekstil Bankas A. .………………………………………………………………… II-78

Turkish Bank A. .………………………………….……..………………………… II-82

Türk Ekonomi Bankas A. .……………………………………………………… II-86

Türkiye Garanti Bankas A. .……………………………………………………… II-90

Türkiye Bankas A. .…………………………………………………………… II-94

Yap ve Kredi Bankas A. ………………………………………………………… II-98

Banks Under the Deposit Insurance Fund...........…….....………............................ II-103

Birle ik Fon Bankas A. …………………………………………………………… II-104

Foreign Banks………………………………………………………..…....................... II-109

Arap Türk Bankas A. ……………………………………………….…………… II-110

Bank Mellat……………………………………..……………………….…………. II-114

Citibank A. .. …………………………………...…………………....…………... II-118

Denizbank A. ……………………………………...……………………………… II-122

Deutsche Bank A. .………………………………………...……………………… II-126

Eurobank Tekfen A. ……………………………………………………………… II-130

Finans Bank A. …………………………………………………………………… II-134

Fortis Bank A. .………………………………………...…………………………… II-138

Habib Bank Limited……………………………………….………………………… II-142

HSBC Bank A. .……………………………………………..…………………… II-146

ING Bank A. .......…….………………………...………………………………… II-150

JPMorgan Chase Bank N.A.…….………………………...……………………… II-154

Millenium Bank A. ..…………………………………………..…………………… II-158

Sociéte Générale (SA)……………………………………...……………………… II-162

The Royal Bank of Scotland N.V……………………………………..…………… II-166

Turkland Bank A. .…………………………...…………………………………… II-170

WestLB AG……………………..………………………………...………………… II-174

ii

Page No.

Development and Investment Banks…….………………………………………...…....... II-179

Aktif Yat r m Bankas A. ..………………………………………...……………… II-180

BankPozitif Kredi ve Kalk nma Bankas A. .…………………………………… II-184

Credit Agricole Yat r m Bankas Türk A. ..………………...…………………… II-188

Diler Yat r m Bankas A. ………………………………………….……………… II-192

GSD Yat r m Bankas A. ……………………………………...………………… II-196

ller Bankas …………………………………………….…….…………....……. II-200

MKB Takas ve Saklama Bankas A. .…………………..……………………… II-204

Merrill Lynch Yat r m Bank A. ....................................................................... II-208

Nurol Yat r m Bankas A. ………………………………………………...……… II-212

Taib Yat r mbank A. .………………………………………...…………………… II-216

Türk Eximbank…………………………………………………...………………... II-220

Türkiye Kalk nma Bankas A. .…………………………………..……………… II-224

Türkiye S nai Kalk nma Bankas A. .…………………..………………………… II-228

Appendix………......…...................................................................................................... II-233

Table 1 Turkish Banks - Ranked by Total Assets, as of December 31, 2009............. II-234

Table 2 Number of Branches and Employees by the Banks and Groups,

as of December 31, 2009……………………………………………………...... II-236

Table 3 Presentation of Assets and Liabilities According to their

Outstanding Maturities, as of December 31, 2009…………………..………… II-238

Table 4 Interest Rate Sensitivity of Assets, Liabilities and Off Balance-Sheet

II-239

Table 5 Information on Currency Risk, as of December 31, 2009…………….………… II-240

Table 6 Saving Deposits, as of December 31, 2009…………………………….…….... II-241

Table 7 Number of Deposit Accounts, as of December 31, 2009……………...……... II-242

Table 8 II-244

Table 9 Classification of Deposits, as of December 31, 2009……………...……......... II-246

Table 10 Deposits by Geographical Regions and Provinces,

as of December 31, 2009………………………….…………………………...... II-248

Table 11 Loans by Geographical Regions and Provinces, as of December 31, 2009… II-251

Table 12 Classification of Cash Loans, as of December 31, 2009……………...…….... II-254

Table 13 Concentrations for Cash Loans, as of December 31, 2009…………………… II-256

Table 14

as of December 31, 2009………………………….…………………………...... II-257

Table 15 Bank Employees by Sex and Education, as of December 31, 2009…........... II-258

Table 16 Share in Group and Share in Sector, as of December 31, 2009................... II-260

Table 17 Equity Participations and Affiliated Companies of Turkish Banks

Abroad, as of December 31, 2009……………………………………………… II-261

Table 18 Branches and Representative Offices of Turkish Banks Abroad,

as of December 31, 2009………………………………………………………… II-265

Table 19 Representative Offices in Turkey, as of December 31, 2009………..………… II-268

Glossary….....................................………………............................................................. II-269

Items based on repricing dates, as of December 31, 2009………...…………

Maturity Sructure of Deposits, as of December 31, 2009………….................

Sectoral Risk Concentrations of Non-cash Loans,

iii

Preface

It is hoped that this publication will be useful for those who are interested.

The Banks Association of Turkey

'Banks in Turkey 2009' provides general information about deposit banks and development and investment banks operating in Turkey as well as their audited financial tables which are prepared according to the related Communique-Financial statements and related explanation and footnotes of the banks that is disclosed to the Public-. This book also offers an overall evaluation of the performance of the Turkish economy and the banking system in 2009.

In addition, more details and tables that are prepared according to the related Communique, in terms of banks or groups, can be found in the web site of the Association (www.tbb.org.tr).

v

The Turkish EconomyMain Economic Indicators

Unit 2006 2007 2008 2009 2010*Growth

GDP % 6.9 4.5 0.7 -4.7 3.5 Agriculture 1.3 -7.0 4.6 3.3 ... Industry 8.4 5.6 -0.1 -7.2 ... Services 7.2 5.7 0.5 -4.9 ...

% Agriculture 9.7 9.0 7.0 8.0 ... Industry 23.8 24.0 20.0 19.0 ... Services 66.5 67.0 73.0 73.0 ...

GDP USD billion 526 659 742 618 ...GDP TL billion 758 856 951 954 ...Population Million 73 70.6 71.1 71.9 ...Income per capita In USD terms 7,212 9,333 10,436 8,590 ...

Source-use As % of GDP

Fixed-capital outlays 21 22 20 17 18 Public 5 4 4 4 4 Private 16 18 16 13 14

Total savings % 16 16 17 14 15 Public 6 3 2 -3 -1 Private 10 13 15 17 16Savings gap -8 -6 -5 -2 -3 Public 1 -2 -2 -7 -6 Private -9 -4 -3 5 3Total consumption 84 83 83 84 85 Public 13 10 9 11 11 Private 71 73 74 73 75

GDP deflator % 9 8 12 5 ...

Unemployment

Overall % 11 11 14 14 ...Urban 13 12 15 16 ...Rural 8 8 11 9 ...

Inflation %

Producer 12 6 8 6 ... Consumer 10 8 10 7 7

Public sector balance, as % of GDP %

PSBR (excluding privatization) 0 2 3 7 5 PSBR (including privatization) -1 -1 0 0 0

-7 -5 -3 0 -1 Budget deficit 1 2 2 6 5 Budget deficit (excluding interest payments) -8 -6 -4 0 -2 SEEs 0 0 0 0 -1 Public administrations 0 0 1 0 0 Funds -1 -1 0 0 0 Other 0 0 1 2 1

Central Government budget TL billion

Revenues 173 190 210 215 237 Expenditures 178 204 227 267 287 Interest expenditures 46 49 51 53 57 Budget deficit -5 -14 -19 -56 -50 Primary balance 41 35 33 1 7

Financing 6 13 19 56 ...

External borrowing 0 -3 4 6 ... G-bonds 13 12 6 54 ... Short-term financing -8 -3 8 0 ... T-bills -8 -3 8 0 ... CB advances 0 0 0 0 ... Other 2 7 1 -4 ...

Sectoral breakdown (at current prices)

(Twelve month chg)

PSBR (exc. nterest pay. and privatization)

* Programme target

vi

Selected Budget Ratios %

Revenue/GDP 22 22 22 23 ...

Expenditure/GDP 24 24 24 28 ...

Personnel expenditure/GDP 4 5 5 6 ...

Interest expenditure/GDP 6 6 5 6 ...

Investment/GDP 2 2 2 3 ...

Personnel expenditure/total expenditure 21 21 21 21 ...

Interest expenditure/total expenditure 26 24 26 20 ...

Investment/total expenditure 7 6 6 9 ...

Outstanding domestic debt TL billion

G-bonds 242 249 261 316 ...

T-bills 10 6 14 14 ...

Total Government securities 252 255 275 330 ...

CB advances 0 0 0 0 ...

Devaluation account 0 0 0 0 ...

Total 252 255 275 330 ...

Outstanding Domestic G. securities/GDP % 33 30 29 35 ...

Outstanding debt/GDP 46 41 38 47 ...

Interest rates %

(Annual,compound, average)

O/n 19 17 16 7 ...

G-Securities 22 17 19 9 ...

G-securities maturity (day) 852 999 806 1100 ...

Exchange rates

USD (Year-end) 1.4056 1.1593 1.5218 1.4873 ...

% 5 -18 31 -2.3 ...

Euro (year-end) 1.8515 1.7060 2.1435 2.1427 ...

% 17 -8 25 0.4 ...

CB Balance Sheet TL billion

Total balance sheet 104 106 113 110 ...

As % of GDP % 12 11 12 12 ...

48 51 70 72 ...

Net domestic assets -6 -6 -15 -8 ...

Lending to Government 19 17 14 9 ...

Reserve money 41 45 56 65 ...

CB money 42 55 54 49 ...

Fx position USD billion 21 33 37 36 ...

Fx reserves USD billion 61 71 70 71 ...

Monetary aggregates

M1** TL billion 72 78 83 107 ...

M2*** 297 345 434 494 ...

M3**** 320 370 458 521 ...

4 4 3 4 ...

Investment Funds (F) 19 21 21 23 ...

G-securities held by non banks (D) 66 68 74 75 ...

Loans 219 286 368 393 ...

M3RF 342 395 475 548 ...

M3RFD 408 463 549 623 ...

M1/GDP % 8 8 9 11 ...

M3/GDP % 37 39 48 55 ...

Loans/GDP % 26 30 39 39 ...

**Money in circulation+demand deposit (Fx included)

*** M1+time deposit (Fx included)

(Twelve month chg)

(Twelve month chg)

Net fx assets

Repos (R)

* Programme target

**** M2+repos+investment funds)

vii

Financial assets TL billion

Monetary assets 297 345 439 498 ...

TL 190 234 304 350 ...

FX 107 111 135 148 ...

Securities 484 589 471 697 ...

Shares 228 334 181 351 ...

Bonds and Bills 255 255 276 331 ...

Government 255 249 275 330 ...

Private 0 6 1 1 ...

Investment Funds 19 21 14 16 ...

Total 800 955 896 1 ...

Foreign trade USD billion

Exports 85 107 132 102 ...

Imports 137 170 202 141 ...

Trade deficit 52 63 70 39 ...

Foreign trade as of GDP %

Exports 16 16 18 17 ...

Imports 26 26 27 23 ...

Trade deficit 10 10 9 6 ...

Balance of payments USD billion

Trade balance -41 -47 -53 -25 ...

Invisible balance 9 9 11 11 ...

Current account balance -32 -38 -42 -14 ...

Current account balance/GDP % -6 -6 -6 -2 ...

Capital movements USD billion 46 49 34 6 ...

Foreign direct investment 19 20 16 6 ...

Portfolio investment 7 1 -5 0 ...

0 2 6 8 ...

Change in reserves -6 -8 1 0 ...

USD billion

CB reserves 61 71 70 71 ...

Commercial banks 38 44 ... ... ...

Total 99 115 ... ... ...

Outstanding external debt USD million

Total 207 249 278 271 ...

Long-term capital 165 206 227 219 ...

Government 70 71 75 80 ...

Central Bank 13 14 12 12 ...

Private sector 82 121 140 128 ...

53 79 99 92 ...

29 42 41 35 ...

Short term 43 43 50 52 ...

Government 2 2 3 4 ...

Central Bank 3 2 2 2 ...

Private sector 38 39 45 46 ...

18 23 24 22 ...

20 16 21 24 ...

Istanbul Stock Exchange

Number of companies traded 291 292 318 316 ...

ISE index In USD terms 2 3 1 2 ...

Daily trading volume USD million 886 1 1 1 ...

Total trading volume USD billion 222 291 252 299 ...

USD billion 163 288 119 204 ...

Market P/E 22 12 6 17 ...

Net errors and ommissions

International fx reserves

Non-financials

Financials

Non-financials

Financials

Market capitilization

* Programme target

viii

Turkish Economy andBanking System in 2009

I-1

I. Economy and Banking System in Turkey in 2009 1. General Outlook 1.1. Economic Performance In 2009 The global economy underwent a deep, long-lasting and destructive crisis. The global economy remained under severe stress in 2009 as the crisis broadened in both advanced and emerging market countries. This protracted period of the deep and destructive impacts on all economies of the countries was considered as a global crisis by many economists. Although the crisis had a deep impression on the financial sector, the developments in fact negatively affected almost all sectors. According to the International Monetary Fund (IMF), the world output and trade volume had declined at the highest rate ever seen since the last 40 years, with high rate of decline in wealth, rapidly increasing unemployment, rising ratios of budget deficits and outstanding public debt to national income, falling commodity prices, decline in capital inflow to the emerging markets, loss of confidence and increase of instability in the markets. As a result, the financial sector couldn’t perform its intermediary functions soundly and the markets became inefficient in many countries.

National authorities, international institutions and organizations started a joint effort to restore confidence and get financial markets functioning properly again, and minimize the impact on the global economy. For a better coordination, the Group of Twenty (G-20), including also Turkey, proposed a set of measures to be taken in the international platform with effect from the last quarter of 2008. The national authorities intervened the economies through monetary and fiscal policies; the central banks rapidly lowered the interest rates and provided liquidity support to markets and financial institutions while the governments provided capital support to financial institutions. On the other hand, the financial asset and instrument prices increased rapidly, particularly starting from the second half of 2009 as a result of decline in interest rates and expansion of liquidity sources across the world. While effects of the measures adopted on the real economy remained rather limited, the financial markets recovered more rapidly. Turkey’s economy shrank, both inflation and interest rates decreased. The international developments also affected Turkish economy negatively. Income dropped, private sector demand contracted, foreign trade volume diminished, budget deficit grew, unemployment rate increased, and capital inflow declined in parallel to the world economy. On the other hand, inflation and interest rates fell to historically low levels. Gross domestic product (gdp) contracted by 4.7 percent in 2009 in constant prices. Fixed capital investments decreased by 19.2 percent, while total consumption declined by 1 percent. It is estimated that the ratio of total savings gap to gdp is 2.3 percent, and the ratio of public sector savings gap to gdp is around 5.3 percent, while that of private sector savings surplus to gdp is about 3.1 percent. The central government budget deficit grew under the effects of shrinking economic activity and tax reductions. Due to the enlarging budget deficit, the ratio of public sector deficit to gdp rose from 1.6 percent to 6.4 percent.

Banks in Turkey 2009

I-1

The ratio of public sector outstanding debt to gdp was 47 percent, and the ratio of outstanding domestic debt to gdp increased by 6 percentage points to 35 percent, while the ratio of outstanding external debt to gdp increased by 2 percentage points to 12 percent. The inflation fell to 6.5 percent, which was the lowest level recorded ever since 1968. Easing of inflationist pressures enabled the Central Bank to lower the short-term interest rates, and the policy interest rate was reduced by 8.5 percentage points in 2009. The short-term interest rates were also marked down to single-digits for the first time since they were regulated by the market. The Central Bank, having increased liquidity possibilities, injected liquidity into the market through open market operations. Furthermore, The Bank purchased net USD 3.3 billion foreign exchange through foreign exchange buying auctions. Though the number of unemployed people rose to a limited extent, the rate of unemployment declined due to the increase in employment and labor force. Turkey’s credit rating was upgraded four times in 2009 by various rating agencies. As of December 2009, Turkey’s sovereign credit rating was announced as BB- by S&P, as Ba3 by Moodys and as BB+by FITCH. The total ratio of deposits to loans fell down from 84 percent in September 2008 to 81 percent at the end of 2008 and to 76 percent at the end of 2009. The annual growth rate in the loan stock, after slowing down to zero percent as of October 2009, started to rose in the last two months of the year and reached 5 percent as of December 2009. The ratio of loan stock to gdp increased by 2 percentage points to 39 percent. Out of total loans 73 percent was in TL terms. The ratio of foreign trade volume to gdp decreased by 6 percentage points to 39 percent. Due to the decrease in domestic demand, the current account deficit contracted rapidly, and the ratio of current account deficit to gdp was equivalent to 2.3 percent. On annual basis, capital inflow remained below the current account deficit. Capital inflow declined from USD 34 billion in the previous year to USD 6 billion in 2009, and particularly external borrowing of the industrial sector decreased. Outstanding foreign debt fell to USD 271 billion, but the ratio of outstanding foreign debt to gdp rose by 7 percentage points to 44 percent. Measures Adopted in Turkey With the intention of minimizing the negative effects of international developments on Turkey, the measures adopted by the Government and the relevant authorities starting from the last quarter of 2008 were continued in 2009. Thanks to these measures adopted, the deterioration in expectations stopped, and behaviors started to turn into positive though slowly, starting from the first quarter of 2009. The measures adopted by the Government: In February 2009, the duration of short-time working allowance was increased

from 3 months to 6 months. In June 2009, the duration of short-time working allowance was increased by further 6 months. The validity time of government subsidies was extended by one year with respect to 49 provinces. It was decided to interdict confiscation of pensions.

Turkish Economy and Banking System in 2009

I-2


By the new package of measures announced in March 2009, tax rates enforceable in white goods, automobile and housing sectors were reduced, and additional subsidies and allowances were offered to SMEs, and the Resource Utilization Support Fund rates were lowered, and the capital of Turk Eximbank was increased. In addition, the discounted tariff rates applied on electricity consumed in industries were generalized and extended.

By a second package of measures introduced again in March 2009, the rate of

VAT applied on furniture, heavy-duty machines and equipments, information technologies and office furniture was reduced. In April 2009, the scope of the tax reduction was expanded to cover sectors such as automotive supplies industry and telephone. Later, the validity time of the tax reductions was extended up to October 2009.

In March 2009, maturity of agricultural loans offered by TC Ziraat Bankas A. .

was extended.

“Revising and Amending the Law on Regulation of Public Finance and Debt Management” intending to provide National Treasury support to the Credit Guarantee Fund (CGF) was enacted in June 2009. According to the Law, public cash resources will be transferred to CGF or a special rank of government domestic debt instruments will be issued for CGF in an amount up to TL 1 billion for provision of loan guarantees to firms. Accordingly, the Minister of Finance was authorized to open a section in the Treasury Undersecretariat’s budget for the said special rank of government domestic debt instruments to be issued and to transfer an allowance up to TL 1 billion.

The capital of the CGF was increased from TL 60 million to TL 240 million by

participation of twenty banks.

In June 2009, with the Law Revising and Amending the Law on Regulation of Public Finance and Debt Management, it was decided to transfer cash resources up to TL 2.6 billion to the Agricultural Products Office and to instruct the Treasury Undersecretariat to issue a special rank of government domestic debt instruments.

In June 2009, the Government announced its new government subsidies

system to be applicable until the end of 2010, aiming to support major investments in twelve sectors and to divide Turkey into four separate regions for granting sector and region based government subsidies. The means of government subsidies were declared as reductions in corporate/income tax rates, reimbursement of employer’s contribution to social security premiums by the Treasury Undersecretariat, interest subsidies, allocation of lands or sites for investments, VAT exemption, and customs tax and duty exemption. The sectors eligible for major investment supports were chemicals and chemical products manufacturing, refined petroleum products manufacturing, transit pipeline transportation services, motor land vehicles manufacturing, railway and tramway locomotive or wagon manufacturing, port construction and port services, electronics manufacturing industry, medical devices, precious and optical tools and devices manufacturing, pharmaceuticals manufacturing, air crafts and space vehicles manufacturing, machine manufacturing investments and mining investments.

I-3


The regulation on restructuring of outstanding loan card debts was published in July 2009. Accordingly, as for the outstanding loan card debts for which a payment notice was issued, or an execution proceeding was initiated, or a legal proceeding was pending by the bank as of May 31, 2009, the restructuring was allowed providing that an application was filed within 60 days and that the minimum debt payment agreed upon in the restructuring contract was not less than 20 percent of the debt of period. The Banking Regulation and Supervision Agency was authorized to increase the rate up to 40 percent and to reduce the increased rate down to 20 percent.

By an employment package publicized by the Government, it is decided that the

supports to be granted to charitable organizations and projects will be financed from the unemployment insurance fund, and thus, direct employment opportunities and jobs be created for 120 thousand persons unemployed. In addition, through professional trainings, 200 thousand persons unemployed are intended to be trained, and the total number of unemployed to be reached by this program will be 500 thousand persons.

In July 2009, the validity time of the legislative arrangement known as Law on

Repatriation of Capital was first extended to September 2009 and then to the end of 2009.

The Ministry of Industry and Trade initiated a new three-legged loan support

program addressed to tradesmen and craftsmen and to all SMEs. It is stated that these supports and subsidies are formulated in a framework consistent to the budget of Small and Medium Enterprises Development Organization contained in the mid-term program and would “therefore not bring any additional burden on 2009 budget”. For this reason, it was specified that these supports would be valid only until the end of 2009, and the first of these support programs would provide a total loan facility of TL 2.5 billion to 100 thousand of commercial enterprises.

The measures adopted by the Central Bank:

The short-term interest rates were reduced by 8.5 percentage points in total from 15 percent to 6.5 percent during 2009.

Starting from March 2009, due to the rapid rise in the foreign exchange

demand, foreign exchange selling auctions were initiated, a total of USD 900 million was sold in 18 auctions in March. In parallel to the increasing foreign exchange supply in the national economy starting in August, the Central Bank restarted foreign exchange buying auctions, and purchased a total of USD 4.2 billion in 2009. Thus, net foreign exchange purchases by the Central Bank was USD 3.3 billion in 2009.

In February, the Central Bank extended the lending maturity from 1 month to

3 months in foreign exchange deposit market and reduced the lending interest rate from 7 percent to 5.5 percent in USD and from 9 percent to 6.5 percent in euro.

In March and April, new legislative arrangements enabling more firms to raise rediscount loan facilities were enacted, and loan limits were also increased.

I-4


The rate of TL required reserves was reduced from 6 percent to 5 percent as of October 2009.

For satisfying the liquidity demands of the market, funding was raised, and repo auctions with 3-months maturity started as one of the means of funding as of June.

The measures adopted by the Banking Regulation and Supervision Agency (BRSA):

“Revising and Amending Regulation on the Procedures and Principles for Determination of Qualifications of Loans and Other Receivables by Banks and Provisions To Be Set Aside” was published in the Official Gazette numbered 27119 on January 23, 2009. With the new regulation, the banks were allowed to restructure the loans that currently appear performing as well. Thereafter, upon expiry as of March 1, 2010, the validity term of Temporary Article 2 and Temporary Article 3 of the said regulation is extended until March 1, 2011, by Article 4 of the Regulation promulgated in the Official Gazette numbered 27513 on March 6, 2010.

BRSA required banks to get permission for distribution of their earnings. The measures adopted by the Capital Markets Board:

In April 2009, the Capital Markets Board determined the principles relating to capital decreases not requiring any fund outflow. It was declared that as the international economic crisis economically made it impossible for companies to realize a cash capital increase through public offerings, this impossibility forces the companies to make capital increase so as to satisfy their cash capital requirements. It is also added that in addition to the previously issued legislative regulations, with a view to paving the way for cash capital increases of companies the shares of which are traded below the nominal value per share, the Board regulated the principles and procedures relating to the process of capital increases not requiring any fund outflow for the publicly-held joint-stock companies.

On the other hand, the Government publicized its three-years basic economic targets through a Mid-Term Program in order to reduce the market uncertainty and to affect positively the expectations and behaviors in the market. 1.2. Mid-Term Program and Estimates for the Period of 2010-2012 By the Mid-Term Program publicized in December 2009, targets relating to certain economic aggregates were identified. Accordingly, it is expected that the negative effects of the global economic fluctuation will start to diminish and accordingly gdp is expected to grow by 3.5 percent in 2010 and 4 percent in 2011 and 5 percent in 2012, respectively. Within this framework, the ratio of current account deficit to gdp is forecasted to be around 2.8 percent in 2010. Estimations for the same ratio is around 3.3 percent in 2011 and 3.9 percent 2012, respectively. It is further foreseen that PSBR (public sector borrowing requirement)/gdp ratio will start to decline as of 2010 and will be equivalent to 2.7 percent in 2012. The ratio of primary balance to gdp is foreseen to be around 1.3 percent in 2010 and around 2.1 percent in 2012.

I-5


Main Economic Aggregates (percentage)

2010* 2011* 2012* Gdp (in real terms) 3.5 4.0 5.0 Current account balance/gdp -2.8 -3.3 -3.9 Unemployment rate (ILO definition) 14.3 14.1 13.3 Psbr/gdp 4.7 3.5 2.7 Primary balance/gdp 1.3 1.7 2.1 Public debt stock(gross) /gdp 49.0 48.8 47.8 Source: State Planning Organization * Forecast

As a result of developments in public finance, the ratio of the public sector outstanding debt (gross) to gdp is estimated to decrease after 2010 and will be around 47.8 percent in 2012. A slow recovery is expected in unemployment rate. Accordingly, the unemployment rate expected to be around 14.3 percent in 2010, is expected fall to the level of 13.3 percent in 2012. 1.3. Banking Sector in 2009 Banking sector recorded a good performance and contributed to financing of economic activities in 2009. Global crisis also affected the financial sector substantially in Turkey. On the part of deposit banks, and development and investment banks, balance sheet risks increased rapidly, and external funding resources became tighter, and liquidity needs rose particularly in the last quarter of 2008 and in the first quarter of 2009. However, besides sound balance sheets, successful risk diversification and risk management by banks, due to the measures taken by the relevant authorities and the effective public supervision the banking sector in Turkey stayed safe and sound in 2009, without creating any burden on the public. The banking sector continued to support the financing of economic activities. Many countries implemented full deposit guarantee and granted public resources to financial institutions in order to lessen the impacts of the global crisis, in contrast Turkey did not change the deposit guarantee limit and grant any public resources to the banks. On the other hand, due to the rapid narrowing in economic activities, decline in external demand and increase in unemployment, the loan risks increased and the loan demand was substantially tightened particularly in the first half of the year. However, the growing public sector borrowing requirement due to the budget deficit were financed by banks to a great extent. The banking was “the best story” of Turkey in 2009. The banking sector was “the best story of Turkey”, told repeatedly both domestically and abroad in 2009. As for the banks, the main causes underlying this achievement were sound and healthy balance sheet of the sector, and strong shareholders’ equity and high trust in TL. A great part of deposits in banks are deposits held and owned by residents in Turkey. TL deposits account for two-thirds of total deposits in banks. The share of foreign loans in the balance sheet was around 9 percent. The shareholders’ equity continued to grow. Assets of banks showed a wide spectrum of distribution by products and customers. Loans and securities accounted for respectively 48 percent and 35 percent of total assets. Out of total loans, 67 percent

I-6


was corporate loans and 33 percent was consumer loans. Banks’ loans and securities portfolio included traditional banking products, and “toxic assets” almost did not exist. Almost all of the risks of banks were comprised of risks of Turkey. Growing shareholders’ equities, healthy distribution of assets, high liquidity, lowering interest rate and more effective and efficient risk management affected the performance of the banks positively. Due to the longer maturity of assets than that of liabilities, the fall in interest rates positively affected the profit of banking sector as a whole in 2009. Increase in the profit volume in turn supported the growth in shareholders’ equity and return on equity. Total assets grew by 13 percent to TL 799 billion (USD 537 billion) in current prices. The ratio of total assets to gdp was around 84 percent. The share of the assets in foreign exchange in the total balance sheet declined by 4 percentage points to 27 percent, while that of the liabilities in foreign exchange fell down by 3 percentage points to 32 percent. Due to the downsizing of economy, overall quality of loan stock declined, and non-performing loans increased. Provisions required to be set aside for non-performing loans limited the profitability. The share of non-performing loans in total loans rose to 5.4 percent, and specific provisions were set aside for 85 percent of them. The share of loans in total assets declined by 4 percentage points to 48 percent from its level as of the end of 2008. The share of consumer loans in total loans increased to 33 percent. The share of securities in total assets grew by 6 percentage points to 35 percent. The share of fixed assets in the total assets was about 3 percent. Total deposits increased by 12 percent to TL 507 billion. The ratio of total deposits to total assets was 64 percent. The average maturity of TL deposits was 2.2 months, while that of foreign exchange deposits was 2.7 months. The funding resources supplied from foreign banks, realized as TL 70 billion (USD 53 billion), accounted for 9 percent of total assets. The major part of these resources were in foreign exchange. Shareholders’ equity and free shareholders’ equity continued to increase. Shareholders’ equity was TL 106 billion (USD 72 billion), and free shareholders’ equity was TL 79 billion (USD 53 billion). The ratio of shareholders’ equity to total assets was around 13 percent, while the capital adequacy standard ratio was around 20.9 percent. The return on equity rose by 2.8 percentage points to 18.3 percent. Net profit of the period increased by 52 percent and reached TL 19.5 billion. Interest income and interest expenses declined by 1 percent and 22 percent, respectively. The rate of increase in total off-balance sheet items was 28 percent. One of the significant developments in the banking sector in 2009 was the change in sector shares of the bank groups according to capital ownership. The share of the state-owned banks in total loans, total deposits and total assets increased by 3 percentage points, 1 percentage point and 2 percentage points, respectively. Market value of financial institutions rose by 113 percent to USD 96 billion as of December 2009 as compared to the end of 2008. Besides the strong financial structure and the increasing profitability of the banking sector, the upgraded credit rating of Turkey led to increase in the market value of financial institutions. As a result, total market value of financial institutions traded in Istanbul Stock Exchange accounted for 41 percent of total market value of all companies.

I-7


Credit cards transaction volume increased by 10 percent to TL 205 billion, while debit cards transaction volume increased by 21 percent to TL 188 billion as of the end of 2009 as compared to the end of the previous year. The number of internet banking customers rose by 15 percent to 5.9 million in the same period. In 2009, the number of banks operating in Turkey was 49; Of which 32 were deposit banks, and 13 development and investment banks and 4 participation banks. There were 17 deposit banks and 4 development and investment banks whose shares were owned by non resident investors at a rate of minimum 51 percent. The number of these banks rose to 25 with the addition of 4 banks having strategic partnership with the non-resident financial institutions. Out of 25 banks, 14 banks were European, 5 were Middle-Eastern, 4 were USA, and 1 was Asian, and 1 was African-origin. The upward trend in the number of branches and the employment which started in 2003 also continued in 2009 despite the global crisis. Compared to EU member states, according to 2008 data, the Turkish banking system was at the fifteenth rank among EU27 in terms of size of assets. The average assets per capita in EU was 16 times greater than the assets per capita in Turkey.

Selected Banking Indicators in EU and Turkey* (2008)

EU27 Turkey Asset per person (Euro) 84,711 5,453 Total assets/gdp (percent) 337 77 Population/number of employees 149 389Population/number of branches 2,092 7,640Population/number of banks 58,550 1,459,531* Deposit banks, development and investment banks, and participation banks are included. In spite of the steady growth and the increase in loan supply during 2002-2008 period, the banking system in Turkey is still relatively small compared with the EU member states on average.

Market Value of Financial Institutions Trading in ISE (USD billion)

115

105

95

85

75

65

55

45

35

25

15

501 02 03 04 05 06 07 08 09

I-8


1.3.1. Outlook of Banking Sector by Selected Indicators 1.3.1.1. Growth Balance sheet size of deposit banks recorded an average growth of 13 percent in 2009.

*Graph scale was limited for presentation purposes. Out of 32 deposit banks in the banking sector 10 banks grew at a rate higher than the average of the sector. The balance sheet size of 9 deposit banks recorded a growth below 13 percent, while the balance sheet size of 13 deposit banks contracted. 1.3.1.2. Profitability Return on equity in deposit banks was 19.7 percent on average as of December 2009. Return on equity in 6 banks was above the sector average, while 2 banks reported loss.

*Graph scale was limited for presentation purpose.

30

25

20

15

10

5

0

-5

-102 4 6 8 10 12 14 16 18 20 22 24 26 28 30 321 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31

Average: 13.0

Growth* (annual, percentage)

30

25

20

15

10

5

0

-5

Average: 19.7

2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 321 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31

Return on Equity* (percentage)

I-9


1.3.1.3. Capital Adequacy Capital adequacy of deposit banks was recorded as 19.3 percent. 17 banks had a capital adequacy ratio higher than the average.

*Graph scale was limited for presentation purpose. 1.3.1.4 Non-Performing Loans The upward trend in the non-performing loans stopped in the last months of the year. Provisions were set aside for 85 percent of non-performing loans of deposit banks.

*Graph scale was limited for presentation purpose. The ratio of non-performing loans after provisions to total loans was 0.9 percent on average. This ratio was above average in 17 banks, while it was zero in 7 banks.

30

25

20

15

10

5

0

Average: 19.3

2 4 6 8 10 12 14 16 18 20 22 24 26 28 30 321 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31

Capital Adequacy* (percentage)

Average: 0.9

3.0

2.5

2.0

1.5

1.0

0.5

0.02 4 6 8 10 12 14 16 18 20 22 24 26 28 301 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31

Non Performing Loans (Net)/Total Loans* (percentage)

I-10


1.3.2. Important Regulations Relating With The Banking Sector in 2009 The important regulations affecting the banking sector issued in 2009 were outlined as follows: (1) Check Law No. 5941 was published in the Official Gazette dated December 20, 2009 and numbered 27438. In general, this Law tightened the check use principles, and aggravated the obligations of banks in terms of use of checks. After the Law, the “Communiqué No. 2010/2 on Notification of Decisions as to Printing Format of Checkbooks, and Minimum Amount Required to be Paid by Banks to Check Holders, and Restrictions on Check Drawing and Check Account Opening” was published in the Official Gazette dated January 20, 2010 and numbered 27468 (2) With a view to allowing banks for restructuring of outstanding credit card debts, the “Law No 5915 Amending and Revising the Law on Banks Cards and Credit Cards” was published in the Official Gazette dated July 7, 2009 and numbered 27281 and put into force. (3) By a Decree of the Council of Ministers No. 2009/15082 promulgated in the Official Gazette dated June 16, 2009 and numbered 27260, paragraph (b) of Article 17 of the Governmental Decree No. 32 for Protection of Value of Turkish Currency was amended to allow the banks to extent foreign exchange loans to persons resident abroad, providing that the average maturity was longer than one year and the loan facility amount was equal to or above USD 5 million. The rules and explanations of implementation were stated in the Circular No. 2009/YB-22 dated June 22, 2009 and the Circular No. 2009/YB-28 dated September 8, 2009. On the other hand, by an amendment made in sub-paragraph (b) (ii) of Article 17 of the Governmental Decree No. 32, the maturity limit on the foreign exchange loans that may be made available by banks to persons resident in Turkey for financing of exports, and sales and deliveries considered and treated as exports, and foreign exchange earning activities was removed. Accordingly, by the Communiqué No. 2009-32/37 pertaining to the Governmental Decree No. 32 promulgated in the Official Gazette dated July 11, 2009 and numbered 27285, Article 8 “Cash (Spot) Foreign Exchange” of the Communiqué No. 2008-32/34 was repealed. By this revision, the cash (spot) foreign exchange was removed from the scope of loans and became a type of remittance. Moreover, by the Communiqué No. 2009-32/38 pertaining to the Governmental Decree No. 32 promulgated in the Official Gazette dated July 24, 2009 and numbered 27298, Article 8 of the Communiqué No. 2008/32-35 was amended and revised to allow the banks to pay in Turkish lira to customers resident in Turkey and pay in Turkish lira or in foreign currency to customers resident abroad. (4) By the Draft Law Revising and Amending the Law on Procedures of Collection of Public Receivables and Some Other Laws, adopted by the Plan and Budget Commission of the Grand National Assembly of Turkey, the public fees levied on foundation and operating licenses of banks were risen, and in addition, new public fees payable every year were imposed on branches in association with the population of residential place where the branch is located. (5) By the Communiqué No. 2009/7 Revising and Amending the Communiqué on Required Reserves promulgated in the Official Gazette dated October 16, 2009 and

I-11


numbered 27378, Turkish Lira the required reserve ratio was reduced from 6 percent to 5 percent, and by the amended and revised Communiqué No. 2009/8 promulgated in the Official Gazette dated December 15, 2009 and numbered 27433, banks were allowed to set aside and keep in the next period a deficient portion up to maximum 10 percent of the required reserves in Turkish lira of a certain period, and to apply any surplus portion thereof to the reserve requirements of the next period, as the case may be. In addition, by the amended Communiqué No. 2010/1 promulgated in the Official Gazette dated January 8, 2010 and numbered 27456, out of the loans borrowed by banks, the loans recorded in foreign branches of banks were also made subject to such required reserves. (6) The Circular No. 314 dated December 25, 2009, was published to allow a deduction in the exchange transaction fees and registration fees imposed on different bases with regard to reporting to ISE in trading of ISE bonds and bills market and trading of fixed income securities out of ISE. (7) The Constitutional Court cancelled the Law provision allowing the implementation of zero percent withholding tax for the foreign based real persons and corporate taxpayers on the income of holding and disposal of securities and other capital market instruments.

I-12


2. Developments in Turkish Economy in 2009 2.1. Growth According to the data of Turkish Institute of Statistics (Turkstat), the gross domestic product decreased by 4.7 percent in constant prices in 2009, the gross domestic product increased by 0.4 percent to TL 954 billion in current prices, but reduced by 16.8 percent to USD 618 billion in dollar terms. Gdp deflator declined from 11.9 percent to 5.4 percent. In constant prices, the growth rate was rather below the targeted level of 4 percent set by 2009 program due to the global crisis.

Growth

2002 2007 2008 2009 Growth rate (percent) In current prices 45.9 12.9 12.7 3.6 In constant prices 6.2 4.5 0.7 -4.7 Deflator (percent) 37.4 8.0 11.9 5.4 Gdp (1987 prices, TL million) 73 101 102 97 Gdp (current prices, 1998’s series) TL billion 351 856 951 954 USD billion 229 659 742 618 Per capita income (USD) 3,296 9,333 10,436 8,590

Source: Turkstat The growth rate of the Turkish economy started to lose acceleration after 2004, but nevertheless grew above 4 percent, its long-term average, until 2008. The deceleration in the growth rate became more evident after the first quarter of 2008, and the growth rate declined in the last quarter. Thus, uninterrupted growth period of 27 quarters that started in the third quarter of 2002 ceased at the end of the third quarter of 2008. Thereafter, after continuing to slowdown for the initial three quarters of 2009, the economic activity grew again in the last quarter of 2009 following a slowdown lasting for four quarters. The basic reasons underlying this slowdown in economy in 2009 were rapid deceleration in capital inflow, contraction in domestic and foreign demand, and particularly, decrease in private sector capital investments.

02 03 04 05 06 07 08 09

12

10

8

6

4

2

0

-2

-4

-6

Gross Domestic Product (percentage change in constant prices)

I-13


Considering sectors, the industries and services sectors contracted, while the agriculture sector grew in real terms. Accordingly, agriculture sector grew by 3.3 percent, while there was a slowdown in industry and services sectors, by 7.2 percent and 4.9 percent, in constant prices, respectively. The share of the agriculture sector in gdp rose by 1 percentage point to 8 percent, while the share of the industries sector decreased by 1 percentage point to 19 percent, and the share of the services sector remained the same at 73 percent, in current prices.

Growth Rates and Breakdown by Sectors

Percentage change

(in constant prices) Percentage shares in gdp

(in current prices) 2002 2007 2008 2009 2002 2007 2008 2009 Agriculture 6.9 -7.0 4.6 3.3 14 9 7 8Industry 9.4 5.6 -0.1 -7.2 29 24 20 19Services 7.5 5.7 0.5 -4.9 57 67 73 73

Source: Turkstat The manufacturing industry which was the most important sub-sector of industry sector contracted by 7.2 percent. As of its sub-sectors there was contraction in the wholesale and retail trading, transportation and communication, and construction sectors, and low growth rate increases realized in other sub-sectors. In the energy sector, manufacturing industry fell down by 3.5 percent. In the manufacturing industry, the average rate of capacity utilization increased by 5 percentage points to 69.7 percent as of December 2009 compared with the previous year. This rate was 86.8 percent by an increase of 24.8 percentage points in the public sector, and 69.5 percent by an increase of 4.3 percentage points in the private sector, respectively. Consumption demand declined by 1 percent, and investment demand reduced by 19.2 percent in constant prices. Private sector consumption decreased by 2.3 percent, while public sector consumption rose by 7.8 percent. Exports and imports also reduced by 5.4 percent and 14.4 percent, respectively.

40

30

20

10

0

-10

-20

-30

-4002 03 04 05 06 07 09/1 09/2 09/3 09/408

Consumption Investment

Consumption and Investment (annual change in constant prices)

I-14


The private sector consumption expenditures had a share of 75 percent, and its investment expenditures had a share of 13 percent in gdp in current prices. The private sector investment expenditures declined by 3 percentage points in current prices. The public sector consumption expenditures and investment expenditures had shares of 15 percent and 4 percent, respectively. The share of the public sector consumption expenditures increased substantially as compared to the end of 2008, while that of investment expenditures declined. The shares of both stock variations and net foreign trade were negative.

Domestic Savings and Balance of Savings (as percentage of gdp)

2002 2007 2008 2009* Domestic savings 19.0 15.5 16.9 14.2 Public -6.2 2.4 1.7 -2.6 Private 25.3 13.1 15.1 16.8 Savings balance -2.6 -5.9 -5.2 -2.3 Public -12.5 -1.5 -2.5 -5.3 Private 9.9 -4.4 -2.7 3.1 External funds** 2.6 6.0 5.2 -2.3

Source: State Planning Organization * Estimation, savings balance’ estimation is made by the Banks Association of Turkey. ** Factor income and current transfers are included. According to the estimations of the State Planning Organization, the ratio of domestic savings to gdp decreased by 2.7 percentage points to 14.2 percent. The savings ratio increased in private sector, but decreased to negative level in public sector. The savings deficit contracted by 3.1 percentage points to 2.3 percent of gdp, the ratio of savings gap to gdp in the public sector increased from 2.5 percent to 5.3 percent, while the same ratio in the private sector which was 2.7 percent, gave a savings surplus of 3.1 percent in 2009. 2.2. Employment and Wages Although the number of unemployed people rose to a limited extent, the actual rate of unemployment declined due to the increases in employment and labor force. According to the data of Turkstat (Turkish Statistical Institute), total labor supply was 24.8 million, and total employment was only 21.5 million as of December 2009. Total number of workforce increased by 868 thousand persons as compared to the same period of the last year. Besides this increase, the upward trend in the participation to workforce led to a rise of 1,013 thousand persons in the work force. However, in the same period, total employment increased by only 985 thousand persons. Hence, the number of unemployed people increased by approximately 29 thousand persons to 3.4 million compared with the previous year.

Unemployment Rate (percent)

2002 2007 2008 2009 Unemployment rate Overall 10.3 10.6 14.0 13.5 Urban 14.2 12.2 15.6 15.6 Youth … 20.6 26.0 24.1

Source: Turkstat

I-15


As of December 2009, the unemployment rate, declined by 0.5 percentage points to 13.5 percent as compared to the same period of the last year. This rate remained the same at 15.6 percent in the urban population, but reduced by 1.5 percentage points to 9.2 percent in the rural population. Of total employment, 56 percent were employed in services sector and 24 percent in agriculture sector, 20 percent in industry sector.

Real Labor Cost Index (1994=100)

2005 2006 2007 2008 2009 Public 107 104 112 105 112 Private 115 114 118 119 ... Civil servant 135 140 148 147 165 Minimum wage 182 181 184 177 191

Source: State Planning Organization According to the estimations of the State Planning Organization, the minimum wage and the real labor cost of public workers and civil servants increased in 2009. 2.3. Inflation Due to the negative effects of global developments on the economic activities, rapid decline in domestic and foreign demand and rapid fall in energy and commodity prices in the international markets, the inflation rate actually remained below the targeted level in 2009. The year-end inflation target was determined as 7.5 percent in consumer prices for 2009, but the year-end inflation realized as 6.5 percent.

* Values until 2004 belong to previously calculated wholesale price index. Annual rate of increase in the consumer prices index (CPI) declined during the initial 10 months of 2009 down to 5.1 percent, but increased to 6.5 percent in the last two months of the year. The inflation rate was 5.9 percent according to the Producer Prices Index (PPI). Annual average increase rates were 6.3 percent and 1.2 percent for CPI and PPI, respectively.

35

30

25

20

15

10

5

002 03 04 05 06 07 08 09

Inflation (12-month, percentage change)

PPI* CPI

I-16


Inflation (percentage)

2002 2007 2008 2009 Annual average Producer* 50 6 13 1.2 Consumer 45 9 10 6.3 12-month Producer* 31 6 8 5.9 Consumer 30 8 10 6.5 CPI target ... 4 4 7.5

Source: Turkstat * Values until 2004 belong to previously calculated wholesale price index.

The inflation reduced during the first two quarters of the year, and generally remained low during the second half of the year on annual basis. Since the economy was not exposed to a substantial inflationist pressure, the Central Bank basically adopted a policy taking the economic growth in consideration as well, and therefore gradually decreased the overnight interest rates. 2.4. Public Sector Balance The public sector deficit expanded substantially in 2009. The ratio of public sector deficit to gdp increased from 1.6 percent to 5.3 percent. Due to the downsizing in the economy in general, tax revenues decreased, but on the other hand, the measures adopted to limit the negative effects of global developments caused an increase in public expenditures. This led to an expansion in the public sector deficit, and rise in the ratio of public sector deficit to gdp. According to estimations of the State Planning Organization, total public revenues increased by only 1 percent, while total public expenditures increased by 15 percent in 2009. As a result, the ratio of total public revenues to gdp increased by approximately 0.4 percentage points to 33.5 percent, while that of total public expenditures rose by 5.4 percentage points to 40.1 percent. It is estimated that the ratio of public sector primary balance to gdp, which was 4.1 percent in 2008 decreased to 0.1 percent in 2009. The ratio of public sector primary balance to gdp has been falling since 2006. This stemmed mainly from the deterioration in the central government budget.

Public Sector Borrowing Requirement (as percentage of gdp)

2002 2007 2008 2009* Consolidated budget -14.8 -1.6 -1.8 -5.5** State economic enterprises -1.0 0.1 0.0 0.2 Local administrations 0.1 -0.5 -0.6 -0.3 Funds 0.0 0.9 0.0 0.0 Other 3.0 1.0 0.8 0.3 Public sector deficit*** -12.7 -0.1 -1.6 -5.3 Public sector primary balance -7.0 5.9 4.1 0.1

Source: State Planning Organization. * Forecast ** Realization *** Own estimation The share of tax revenues in the public revenues was around 55 percent, and indirect taxes accounted for 65 percent of tax revenues. On the other hand, non-interest expenditures accounted for 84 percent of total expenditures. The share of interest expenditures in total expenditures decreased by 16 percentage points compared with 2004, and by 1 percentage point compared with 2008.

I-17


The basic factors underlying the negative developments in the public sector balance in 2009 were the recession in economic activities due to the global crisis, and the fall in tax revenues in real terms due to tax reductions made to support the domestic demand, and the substantial increase in public expenditures. The increase in public expenditures was also affected by the current transfers expanded again for the purpose of limiting the negative effects of the global crisis.

Central Government Budget (TL million)

Per. Per. Per. As per. of gdp 2008 share 2009* share change 2009

Revenues 209,598 100 215,060 100 3 22.5 Tax revenues 168,109 80 172,417 80 3 18.1 Non-tax revenues 41,489 20 42,643 20 3 4.5 Expenditures 227,030 100 267,275 100 18 28.0 Interest expend. 50,661 22 53,201 20 5 5.6 Domestic 44,516 20 46,762 17 5 4.9 External 6,145 3 6,439 2 5 0.7 Non-interest 176,369 78 214,074 80 21 22.4 Personnel 48,856 22 55,930 21 14 5.9 Current 105,823 47 133,983 50 27 14.0 Investment 21,690 10 24,161 9 11 2.5 Budget balance -17,432 -52,215 200 -5.5 Primary balance 33,229 986 -97 0.1 Source: The Ministry of Finance * Provisional According to the data of the Ministry of Finance, the ratio of the central government budget deficit to gdp which constituted the most significant part in the public sector increased from 1.8 percent to 5.5 percent. The central government budget revenues increased by 3 percent, while the central government expenditures rose by 18 percent. Interest expenditures and non-interest expenditures grew by 5 percent and 21 percent, respectively. While the budget deficit rose by 200 percent in current prices, the primary balance fell down to an insignificant level. The ratios of budget revenues and expenditures to gdp were around 23 percent and 28 percent, respectively. The ratio of interest expenditures to gdp increased by 0.3 percentage points to 5.6 percent.

Public Sector Borrowing Requirement / Gdp and Inflation (percentage)35

30

25

20

15

10

5

0

-502 03 04 05 06 07 08 09

Psbr/gdp PPI

I-18


The current expenditures had the highest share with 50 percent in budget expenditures. The share of investment expenditures reduced by 1 percentage point to 9 percent compared with 2008, and that of personnel and interest expenditures were 21 percent and 20 percent, respectively.

Financing 19,709 16,313 49,369 2.3 1.7 5.2External borrow. (net) -5,154 -112 2,998 -0.6 0 0.3Domestic borrowing 12,364 10,331 50,816 1.4 1.1 5.3

5.0- 6.05.1544,4-490,6994,21 rehtOSource: Undersecretariat of the Treasury

During 2009, the cash financing requirement of TL 49.4 billion was recorded, while net domestic borrowing of TL 50.8 billion was above the financing requirement. In addition, net external borrowing (TL 3 billion) realized for the first time since 2004. The Treasury cash/bank account had a surplus of TL 4.4 billion after borrowing, and with the positive contributions of other items as well, the Treasury cash/bank account net surplus increased to TL 6.7 billion. The average maturity of domestic TL borrowing from the markets increased from 806 days to 1,100 days. On the other hand, annual compound interest rate of the domestic TL borrowing fell from 18.6 percent in December 2008 to 9 percent in December 2009. The outstanding domestic debt increased by 20 percent to TL 330 billion, while the ratio of non-cash outstanding domestic debt in total outstanding debt reduced by 5 percentage points to 5 percent.

59 290986 LT44 646452 etar dexiF

Floating rate 42 44 46 51Fx denominated 32 10 8 5

001 001001001 latoT Source: Undersecretariat of the Treasury

The share of the fixed interest securities within the outstanding domestic debt, declined, while that of the securities with floating interest rate rose from 46 percent to 51 percent, and the share of securities in foreign exchange and/or indexed to foreign exchange fell from 8 percent to 5 percent. Due to the fall in interest rates, the issuance of securities with floating interest rate increased, and this in turn led to an increase in the share of the securities with floating interest rate in the outstanding domestic debt. The ratio of outstanding domestic debt to gdp increased by 6 percentage points to 35 percent. Total outstanding debt increased by 16 percent to TL 442 billion (USD 293 billion). The ratio of total outstanding debt to gdp rose from 38 percent to 47 percent. In addition to the rise in the ratio of outstanding domestic debt to gdp, the pressure of public sector on the financial resources also increased. The ratio of the outstanding domestic debt to financial instruments (comprised of TL deposits, foreign exchange

I-19


deposits, repos, investment funds, and government domestic debt securities in the portfolio of non-bank segments) rose from 55 percent to 57 percent.

Outstanding Public Debt

TL million As percentage of gdp 2009 2006 2007 2008 2009 Government securities 330,005 33 30 29 35 Cash 313,232 27 26 26 33 Non-cash 16,772 6 4 3 2 Bonds 315,969 32 29 27 33 Cash 299,196 26 25 25 31 Non-cash 16,772 6 4 3 2 Treasury bills 14,036 1 1 1 1 Cash 14,036 1 1 1 1 Non-cash 0 0 0 0 0 Central bank advances 0 0 0 0 0 Domestic debt 330,005 33 30 29 35 External debt* 111,503 12 11 10 12 Total 441,507 46 41 38 47

* For Central Government Budget Of total outstanding domestic debt of central government budget, 18 percent was held by public organizations and 82 percent by the market. These shares were 24 percent and 76 percent, respectively, as of the end of 2008.

Distribution of Government Domestic Debt Instruments by Investors (TL million)

2007 2008 2009 Non-financial residents 67,636 73,767 74,890 Real persons 16,523 16,395 10,644 Corporations 51,112 57,372 64,247 Mutual funds 12,657 14,198 15,547 Persons resident abroad 36,981 29,936 31,145 Non-financial residents (Total) 117,274 117,901 121,583 Banks and other 150,128 156,926 208,422 Total 267,402 274,827 330,005 Source: Central Bank of the Republic of Turkey As of December 2009, 63 percent of the government domestic debt securities was held by banks. Total amount of the government domestic debt securities held by non-bank segments was TL 122 billion. Of which TL 10.6 billion (9 percent) were owned by real persons. Government domestic debt securities held by non-bank sectors constituted 37 percent of the outstanding domestic debt. Demand of non-bank sectors for government domestic debt securities increased in the first half of 2009, but declined in the second half due to the fall in the demand of real persons, while the demand of other segments did not show any significant change. It is observed that the demand of legal entities for government domestic debt securities increases during recessions in economic activities. On the other hand, the demand of banks for government domestic debt securities increased considerably due to the rise in the public sector borrowing requirement. The annual compound interest rate of government domestic debt securities continued to fall throughout the year due to the reduction of policy interest rates by

I-20


the Central Bank and the increase in overall demand for government bonds which were considered as a safe investment vehicle because of fluctuations in the international markets. Thus, the interest rate of government securities decreased by approximately 10 percentage points to 9 percent on annual basis in 2009 compared with 2008. 2.5. Monetary Aggregates 2.5.1. Monetary Policy The negative impacts of the global economic developments on domestic and foreign demand all over the world, the rapid downward trend in economic activities, the overall risk perception in financial system, the tightening of loan standards, the deceleration in capital inflow, the decreasing commodity prices, the fall in inflationist pressure, the increase in the public sector borrowing requirement and the rise in unemployment rate were the basic factors determining the monetary policy applied in 2009. The Central Bank preferred a policy of closing the liquidity deficit, reducing the interest rates and operating the loan mechanisms. Liquidity opportunities were improved and cost was reduced. Foreign exchange buying and selling auctions were held, and the liquidity requirement ratios were reduced.

Interest Rates, Exchange Rates and Inflation (percentage)

2008 2009 Dec. March June Sept. Dec.Interest rate* O/n 16.2 11.1 9.1 7.5 6.7 Government securities 18.6 14.1 12.4 10.0 9.0Exchange rates (annual change) TL/USD 31.3 27.7 25.1 19.9 -2.3 TL/Euro 25.0 7.4 11.8 20.2 0.4Inflation (PPI, annual change) 10.1 7.9 5.7 5.3 6.5

* Annual compounded, average The Central Bank reduced the policy interest rates by 8.5 percentage points from 15 percent (annual compound interest rate: 16.2 percent) to 6.5 percent during 2009 (annual compound interest rate: 6.7 percent). In February, the maturity of foreign exchange reserves that may be purchased by banks from the Central Bank was risen from 1 month to 3 months, and the Central Bank’s lending interest rate was reduced from 7 percent to 5.5 percent for USD and from 9 percent to 6.5 percent for euro. The foreign exchange selling auctions were initiated due to the rapid upward trend in foreign exchange demand, and USD 900 million was sold through 18 auctions as of March 2009. Then, due to the upward trend in foreign exchange supply in the economy since August, the Central Bank restarted foreign exchange buying auctions and purchased a total of USD 4.2 billion in 2009. Hence, net foreign exchange purchase of the Central Bank in 2009 was USD 3.3 billion. In March and April, new legislative arrangements enabling more firms to raise export rediscount loan facilities were enacted, and loan limits were also increased. After June, repo auctions with 3-month maturity also became one of the funding opportunities. Then, the rate of TL required reserves was reduced from 6 percent to 5 percent as of October 2009. In spite of such expansive practices in the monetary policy, the Central Bank’s budget reduced by 4 percent in 2009 due to low loan demand, increasing loan risk,

I-21


continuing precautionary approaches of banks, and deceleration in capital inflow. The ratio of its balance sheet size to gdp was around 11.5 percent. Foreign assets was 104 percent of the balance sheet size, while domestic assets showed a negative balance. The ratio of domestic liabilities to the balance sheet was 34 percent, while that of foreign exchange liabilities to the balance sheet was 21 percent.

Balance Sheet of the Central Bank, Selected Items* (TL million)

2008 2009 Dec. March June Sept. Dec. Net foreign assets 70,405 74,682 67,605 69,654 72,024Net domestic assets -14,746 -23,430 -8,929 -6,472 -7,505Monetary base 55,659 51,252 58,676 63,182 64,519Open market operations (net) 2,836 -5,666 12,716 20,364 18,917Central Bank money 54,001 58,692 51,834 49,524 48,560Fx deposits -15,686 -11,638 -12,949 -16,806 -15,903Banks’ Fx deposits -20,807 -21,258 -19,400 -19,199 -20,473

Source: Central Bank of the Republic of Turkey * All the items except CB money, belongs to CB Balance sheet in the framework of Stand-by agreement.

Net domestic assets increased by TL 7 billion and reached to TL -8 billion. This increase in net domestic assets was a result of (net) increase in open market operations. However, the reduction in cash loans extended to the public sector limited the increase in net domestic assets. Due to these developments, monetary base rose by 16 percent to TL 65 billion.

The open market operations which gave a surplus of TL 2.8 billion as of December 2008 increased to a surplus of TL 18.9 billion as of December 2009. Thus, the Central Bank supplied an additional liquidity of TL 16 billion to the market in 2009. The Central Bank’s balance of receivables from the open market operations exceeded TL 23 billion as of the beginning of December 2009.

Central Bank Balance Sheet and Deflator (annual percentage change)

Deflator CB Balance Sheet

40

35

30

25

20

15

10

5

0

-502 03 04 05 06 07 08 09

I-22


Central Bank’s Fx Reserves and Net Fx Position (USD billion)

2008 2009 Dec. March June Sept. Dec. Fx reserves 70.1 66.5 64.9 70.4 70.7 Net Fx position 36.5 42.0 36.0 35.2 35.5

Source: Central Bank of the Republic of Turkey Foreign exchange reserves of the Central Bank reached USD 70.7 billion by an increase of USD 0.6 billion in 2009. On the other hand, Central Bank’s net foreign exchange position declined from USD 36.5 billion to USD 35.5 billion. 2.5.2. Financial Assets and Money Demand Despite the uncertainties in the international markets and the limitations faced in financing the balance of payments, particularly the demand for TL denominated financial assets and instruments maintained its strong position and level, and the ratio of financial assets to gdp rose significantly. The ratio of financial assets comprised of cash, deposits and capital market instruments to gdp increased by 30 percentage points to 125 percent in 2009, by exceeding its pre-global crisis levels.

Financial Assets (as percentage of gdp )

2002 2007 2008 2009 Money and quasi-money 39 41 46 52 Cash 2 3 3 4 Deposits 36 37 42 48 - TL 15 24 28 33 - Fx 21 13 14 16 Repos 1 1 0 0 Capital market 61 72 49 73 Shares (market value) 16 40 19 37 Bonds and bills 43 30 29 35 -Public 43 30 29 35 -Private 0 0 0 0 Mutual funds 1 2 1 2 Total 99 113 95 125

Source: Central Bank of the Republic of Turkey, Capital Markets Board The increase in demand for financial assets resulted from the increase in stock prices. The share of bonds and bills entirely comprised of securities issued by the public sector also increased by 6 percentage points. On the other hand, the share of money and quasi-money assets also rose by 6 percentage points due the demand for TL deposits.

Money demand (M2RF), consisting of TL deposits, repos and short-term investment funds, rose by 15 percent. Growth in the demand for TL demand deposits by 47 percent contributed significantly to this end. In 2009, value of TL against dollar and euro did not show any important change. Currency substitution reduced due to decreasing use of external resources, increasing interest of investors towards short-term TL instruments such as repo, and stability in the value of TL.

I-23


Monetary Aggregates* (2009)

Per. change TL million USD million (TL) (USD) M2RF 318,478 245,391 15 17 Money in circulation 30,468 23,055 13 15 TL demand deposit 30,404 30,080 47 51 Repos 4,914 2,546 -13 -11 Investment funds 14,198 10,453 10 12 TL time deposits 238,494 179,258 12 14 M2RYF 453,317 345,160 13 16 Fx deposits 134,839 99,769 10 13

Source: Central Bank of the Republic of Turkey * Participation banks’ funds are included. TL equivalent of foreign exchange deposits increased by 10 percent and increased by 13 percent in dollar terms. Money demand (M2YRF), also including the foreign exchange deposits, grew by 13 percent in TL terms and 16 percent in dollar terms. The share of the foreign exchange deposits in M2YRF declined by 1 percentage point and fell to 29 percent compared with the end of 2008. The ratio of M2RF to gdp increased by 5 percentage points to 38 percent, and the ratio of M2RF to M2RFY increased by 6 percentage points to 54 percent.

Breakdown of Monetary Aggregates (percentage)

2002 2007 2008 2009 Money in circulation 5 7 7 7 TL demand deposits 5 8 7 7 Repos 2 1 1 1 Investment funds 3 6 5 3 TL time deposits 33 48 51 53 Fx deposits 51 30 29 30 M2RYF 100 100 100 100

Source: Central Bank of the Republic of Turkey Due to the reduction of short-term interest rates by the Turkish Central Bank, deposit interest rates showed a downward trend throughout the whole year. The (compound) interest rates which were 18 percent and 20 percent at 1-month and 3-month maturities, respectively, at of the end of 2008, reduced to 8 percent and 9 percent at of the end of 2009. The interest rates for 3-month foreign exchange deposit interest rates reduced from 5.5 percent to 2.6 percent for dollar and from 4.9 percent to 2.2 percent for euro as compared to the same period of previous year.

According to the data of the BRSA, total deposits in the banking sector rose by 12 percent. TL deposits grew by 15 percent, while TL equivalent sum of foreign exchange deposits grew by 7 percent. The foreign exchange deposits which were USD 100 billion as of the end of 2008, increased to USD 110 billion as of the end of 2009. The share of TL equivalent of foreign exchange deposits in total deposits declined by 2 percentage points at the end of 2008 and fell to 33 percent. The ratio of TL deposits to gdp increased by 5 percentage points to 33 percent at the end of 2008, and that of total deposits, including foreign exchange deposits, increased by 6 percentage points to 48 percent. Despite the fall in interest rates, the strengthening demand for TL deposits, and the slowdown in growth of gdp led to a rapid increase in the ratio of deposit to gdp.

I-24


Maturity Structure of Total Deposits (percentage)

2002 2007 2008 2009 Total 100 100 100 100 Demand 19 16 14 15 1-month 30 28 31 27 3-month 38 47 48 50 6-month 8 5 3 3 12- month+ 6 5 4 4 Average (month) 2.8 2.5 2.4 2.4

Source: Central Bank of the Republic of Turkey The average maturity of total deposits was 2.4 months. The average maturity of foreign exchange deposits shortened, while the average maturity of TL deposits remained the same. Accordingly, the average maturity of foreign exchange deposits fell from 2.8 months to 2.7 months, while average maturity of TL deposits remained the same at 2.4 months. According to the data of BRSA, state-owned banks by including the participation banks had a share of 35 percent in TL deposits, and that of private banks was 48 percent. The share of state-owned banks in total deposits increased by 1 percentage point, and that of private banks decreased by 1 percentage point. as compared to the end of 2008. The share of foreign banks in total deposits fell down by 1 percentage point to 12 percent, and the share of participation banks in total deposits increased by 1 percentage point to 5 percent.

Deposits and Loans (TL million)*

2002 2007 2008 2009 Total deposits 141,889 356,865 454,599 514,618 TL 60,075 230,461 294,093 341,412 Fx 81,814 126,404 160,506 173,206 Total loans** 51,955 285,654 367,609 392,622 TL 20,662 217,027 262,285 288,209 Fx 31,293 68,627 105,324 104,413 Non-performing loans (Net) 1,695 1,365 2,824 3,598 Non-performing loans (Gross) 3,041 10,322 13,881 21,852 Provisions 1,346 8,957 11,057 18,254 Total loans 51,955 285,654 374,877 397,708 Corporate 44,954 187,853 256,839 266,757 Consumer 7,001 97,801 118,038 130,951 Total loans 51,955 285,654 367,609 392,622 From domestic branches 36,762 244,726 302,424 338,452 From branches abroad 15,193 40,928 65,185 54,170

Source: BRSA, CBTR * Participation banks are included. ** Non-performing loans are excluded. The share of state-owned banks in total TL deposits was 40 percent and 26 percent in total foreign exchange deposits, while private banks had a share of 44 percent in TL deposits and 55 percent in foreign exchange deposits, and the share of foreign

I-25


banks in TL and foreign exchange deposits was 11 percent and 13 percent, respectively. Loans to deposits ratio rose to its highest level of 84 percent as of September 2008, and thereafter, fell down to 81 percent at the end of 2008 and to 76 percent at the end of 2009. This rate was 56 percent in state-owned banks, 78 percent in private banks, and 102 percent in foreign banks.

The annual growth rate in the loan stock was recorded as 41 percent as of October 2008 and started to slow down thereafter. Then, the growth rate in the loan stock, after slowing down to 0 percent as of October 2009, again rose in the last two months of the year and reached 5 percent as of December 2009. Corporate loans and consumer loans rose by 4 percent and 11 percent, respectively. The share of consumer loans in total loan stock increased by 1 percentage point and reached 33 percent compared with the end of 2008. This growth was affected mainly by increases in housing loans and other consumer loans, while automobile loans declined.

Non-performing loans increased by 57 percent before specific provisions, and 27 percent after specific provisions. The ratio of non-performing loans before specific

90

80

70

60

50

40

30

20

10

004 05 06 080302 07 09

Loans / Deposits (percentage)

50

45

40

35

30

25

20

15

10

5

007/1 07/2 07/3 07/4 08/1 08/2 08/3 08/4 09/1 09/2 09/3 09/4

Commercial, Individual and Total Loans (annual percentage change)

Individual TotalCommercial

I-26


provisions to total loans rose by 2 percentage points to 6 percent. The ratio of non-performing loans after specific provisions to total loans increased from 0.8 percent to 0.9 percent. The ratio of non-performing loans to consumer loans was 6.4. The shares of deposit banks, participation banks and development and investment banks in total loans were 91 percent, 6 percent and 3 percent, respectively. The rate of loans extended by private banks in total loans was 49 percent, and the rate of loans extended by state-owned banks in total loans was 26 percent, while the share of foreign banks in total loans was 16 percent. The ratio of total loans of banking sector to gdp was 39 percent. Out of total loans, a 85 percent was extended by domestic branches, and remaining 15 percent by branches abroad. Most of the loans extended by the branches abroad was foreign exchange denominated and its share in total loan stock decreased. Due to the legislation changes enabling the banks resident in Turkey to supply foreign exchange loans also to sectors which do not have foreign exchange revenues, and as a result of limitation of the external borrowing opportunities under the effects of the global crisis, the borrowing foreign exchange loan of non-financial sectors from abroad showed a downward trend.

Corporate Loans and Non-financial Sector External Debt (USD million)

2002 2008 2009 Corporate loans (Fx) 19,085 70,436 67,199 -From domestic branches 10,923 24,327 30,836 -From branches abroad 8,162 43,302 36,363 Non-financial sector -External debt stock 32,986 122,359 114,096 -Fx borrowing from abroad 24,824 79,057 77,773 * Fx indexed loans are included. Total foreign exchange corporate loans extended by the banks resident in Turkey realized as USD 67 billion. Foreign exchange loans extended through domestic branches increased by USD 6 billion, while foreign exchange loans extended through foreign branches decreased by USD 7 billion. Total outstanding debt of non-financial sectors declined by approximately USD 8 billion to USD 114 billion, 68 percent of which were provided by financial institutions resident abroad. 2.6. Istanbul Stock Exchange Istanbul Stock Exchange (ISE) 100 index grew both in dollar and TL terms in 2009. ISE index increased by 101 percent to 2,068 points in dollar terms, and by 97 percent to 52,825 points in TL terms. On the other hand, trading volume grew by 19 percent to USD 299 billion. Due to the measures adopted for limitation of the impacts of the crisis, the factors such as slowdown of the downsizing in economy as after the first quarter of 2009, and restart of economic growth starting from the last quarter, and fall in both inflation and interest rates, and financial sector’s continuing to finance the economic activities, and lower rate of non-performing loans’ than the expectations, and increase in profit performance of banks, and stability of value of TL against foreign exchanges accelerated the recovery in the ISE.

I-27


The market value of companies listed to ISE increased from USD 119 billion at of the end of 2008 to USD 232 billion at of the end of 2009. The ratio of total market value of ISE to gdp grew from 13 percent to 25 percent. The number of listed companies decreased by 1 to 325 from 2008 to 2009. On the other hand, 51 companies consisting of exchange traded funds, real estate investment trusts, venture capital investment trusts and securities investment funds were reclassified in the newly established Corporate Product Market of ISE. 2.7. Foreign Trade Balance Due to the contraction of developed countries economies, the shrinking in the global trade volume, the decline in domestic and foreign demand in Turkey, and the fall in energy and commodity prices, the foreign trade volume decreased by 27 percent to USD 243 billion in 2009. The ratio of foreign trade volume to gdp was at 39 percent The foreign trade deficit also fell by 44 percent to USD 39 billion, and the ratio of foreign trade deficit to gdp decreased by 3 percentage points to 6 percent.

Exports decreased by 23 percent to USD 102 billion, and imports decreased by 30 percent to USD 141 billion. The ratio of exports to imports increased by 8 percentage

04 05 06 080302 07 09

50

45

40

35

30

25

20

15

10

5

0

350

300

250

200

150

100

50

0

ISE Market Value (USD billion) and Market Value/Gdp (percentage)

Percentage of gdp Market value (right axis)

50

40

30

20

10

0

-10

-20

-30

-4004 05 06 0803 07 09

Gdp, Export and Import Growth (annual, percentage, in USD terms)

Gdp Export Import

I-28


points to 73 percent. The ratio of exports to gdp fell by 1 percentage point from its level as of the end of 2008, while the ratio of imports to gdp fell by 4 percentage points to 23 percent level. Based on 12-month average, export quantity index and import quantity index declined by 7 percent and 14 percent, respectively. On the other hand, export price index and import price index decreased by 17 percent, and 20 percent, respectively.

20123170163 stropxE 14120207125 stropmI 93073661 ticifed edart ngieroF

Foreign trade volume 88 277 334 243 Foreign trade deficit/Gdp (percent) 9 11 9 6 Exports/imports (percent) 70 63 65 73

)001=3002( * xedni ecirP 04186154119 stropxE

24187174159 stropmI Quantity index* (2003=100)

55176175118 stropxE 24146176127 stropmI

Source: Turkstat * Average

By commodity groups, imports of capital goods declined by 24 percent, 35 percent in intermediate goods, and 10 percent in consumer goods. Imports of intermediate goods constituted 71 percent of the total imports. By sectors, the share of manufacturing industry in total imports was 79 percent. Machinery, land motor vehicles, iron and steel, electrical machinery and equipments, and plastics sectors were the most important sub-sectors playing an important role in manufacturing industry. Mining sector had a share of 15 percent. In 2009, mineral oils and fuels item, greatly composed of crude petroleum and natural gas sub-items, declined by 38 percent to USD 29.9 billion and constituted 21 percent of total imports.

Capital goods 11,119 -34 11 21,442 -24 15Intermediate goods 49,713 -27 49 99,402 -35 71Consumer goods 40,773 -13 40 19,261 -10 14Other 560 14 0 670 -5 0Total 102,165 -23 100 140,775 -30 100

Source: Turkstat

In breakdown of exports by commodity groups; consumer goods had 40 percent, intermediate goods by 49 percent and capital goods by 11 percent. In breakdown of exports by sectors, manufacturing industry had a share of 91 percent, and agriculture sector had 6 percent. The major sub-sectors of the manufacturing industry were land motor vehicles, textile, iron and steel, machinery and electrical machinery and equipments.

I-29


EU member states had a share of 43 percent in Turkey’s foreign trade, and the share of non-EU European countries was 15 percent. The foreign trade deficit with EU member states decreased from USD 11.4 billion in 2008 to USD 9.5 billion in 2009. EU member states had a share of 40 percent in imports and 46 percent in exports.

Foreign Trade By Country Groups, 2009

Exports Imports Trade balance USD

million Per.

changePer.

shareUSD

millionPer.

changePer.

share USD million

EU 47,014 -26 46 56,513 -24 40 -9,499 Free zone 1,956 -35 2 965 -28 1 991 Other 53,195 -19 52 83,297 -34 59 -30,102 Europe 11,359 -28 11 26,142 -41 19 -14,783 Africa 10,182 12 10 5,699 -27 4 4,483 America 4,838 -26 5 12,266 -29 9 -7,428 Middle East 19,190 -25 19 9,590 -46 7 9,600 Other Asia 6,705 -5 7 28,820 -24 20 -22,115 Other 921 -50 1 780 -15 1 141 Total 102,165 -23 100 140,775 -30 100 -38,610

Source: Turkstat In foreign trade volume, Germany rose to the first position among foreign trade partners of Turkey with a share of 9.8 percent. This development was mainly stemmed from the decrease in energy imports from Russia. It was followed by Russia with a share of 8.6 percent and by Italy with a share of 5.7 percent. Exports to Germany constituted 10 percent of total exports, while imports from Russia constituted 16 percent of total imports. Trade deficit with the group of other Asian countries was mainly produced by the trade with China and South Korea. 2.8. Balance of Payments Current account deficit fell by 67 percent to USD 14 billion due to the rapid fall in imports. The ratio of current account deficit to gdp also declined from 5.6 percent to 2.3 percent.

Current Account Balance (USD million)

2002 2007 2008 2009 Current account balance -1,522 -38,219 -41,947 -13,854 -General merchandise -8,337 -46,677 -53,022 -24,729 -Exports 40,124 115,364 140,799 109,672 -Imports -48,461 -162,041 -193,821 -134,401 -Services (net) 7,879 13,323 17,121 16,219 -Tourism (net) 6,599 15,227 18,445 17,103 -Income (net) -5,637 -7,108 -8,159 -7,646 -Direct investments -86 -2,100 -2,610 -2,248 -Portfolio investments -835 383 972 267 -Other investments -3,633 -5,321 -6,455 -5,560 -Interest expenditures -4,417 -7,479 -8,477 -7,245 -Current transfers 3,490 2,243 2,113 2,302 -Workers remittances 1,936 1,209 1,431 934

Source: Central Bank of the Republic of Turkey

I-30


The foreign trade deficit reduced by 53 percent to USD 24.7 billion. The income balance showed a deficit of USD 7.6 billion and interest expenses, the most important sub-item of the income balance, declined from USD 8.5 billion to USD 7.2 billion. Contribution of net tourism revenues to the current account balance was USD 17 billion.

Capital and Financial Account (USD million)

2002 2007 2008 2009 Capital and financial account 1,161 48,637 33,536 6,208 -Capital account (net) 0 0 0 0 -Financial account (net) 1,161 48,637 33,536 6,208 -Direct invest. abroad (net) 863 19,940 15,720 6,026 -Portfolio investments (net) -593 717 -5,046 198 -Other investments (net) 891 27,980 24,563 -696 -Net errors and omissions 149 1,597 5,653 8,437 General balance -212 12,015 -2,758 791 -IMF account 6,365 -3,983 1,701 -680 -Official reserves -6,153 -8,032 1,057 -111

Source: Central Bank of the Republic of Turkey Capital inflows remained below the current account deficit as in 2008. Capital inflows decreased from USD 34 billion at the end of 2008 to USD 6 billion at of the end of 2009. This evident slowdown in capital inflows was particularly a result of fall in net direct investments and net other investments. But, contrary to the last year, an upward trend was not recorded in net portfolio investments. The fall in net other investments was caused by the fall in borrowing external debt of the real sector.

On the other hand, net errors and omissions account gave a surplus of USD 8.4 billion, and accordingly, reserves increased. Reserve assets gave a surplus of USD 0.8 billion. A sum of USD 0.7 billion was paid to the International Monetary Fund, and official reserves increased by USD 0.1 billion.

04 05 06 080302 07 09

55

50

45

40

35

30

25

20

15

10

5

0

Direct investments Capital flows (net)

Capital Flows (USD billion)

I-31


2.9. Outstanding External Debt Outstanding external debt decreased by USD 6.6 billion to USD 271.1 billion in 2009. Outstanding external debt increased by USD 5.3 billion to USD 83.5 billion in public sector, while it decreased by USD 11.1 billion to USD 174.3 billion in private sector. External debts of the Central Bank declined by USD 0.8 billion to USD 13.3 billion. Long-term outstanding external debt decreased by USD 8.1 billion, while short-term outstanding external debt rose by USD 1.6 billion. The long term outstanding external debt of the public sector (excluding Central Bank) increased by USD 4.9 billion to USD 79.9 billion, while that of the private sector decreased by USD 12.3 billion.

The ratio of outstanding external debt to gdp increased by 6.5 percentage points to 43.9 percent compared with the end of 2008. The ratio of long-term debts to gdp rose by 4.9 percentage points to 35.5 percent, while the ratio of short-term debts to gdp rose by 1.6 percentage points to 8.4 percent. Despite the fall in outstanding external debt, the ratio of outstanding external debt to gdp increased due to the decline in gdp by 17 percent in dollar terms.

Outstanding External Debt (USD billion)

2002 2007 2008 2009* Long term 113.3 205.8 227.2 219.1 Public 63.6 71.3 75.0 79.9 Central Bank 20.3 13.5 12.2 11.5 Private 29.1 120.9 140.0 127.7 Financial institutions 4.8 41.7 41.1 35.4 Banks 3.0 30.7 30.0 27.9 Non-financial institutions 24.3 79.2 98.9 92.3 Short term 16.4 43.2 50.4 52.0 Public 0.9 2.2 3.2 3.6 Central Bank 1.7 2.3 1.9 1.8 Banks 5.4 16.2 45.3 46.7 Non-bank 8.4 22.5 23.5 21.8 Total 129.5 249.0 277.7 271.1

Source: Undersecretariat of Treasury *Provisional

04 05 06 080302 07 09

60

50

40

30

20

10

0

Outstanding External Debt (as percentage of gdp)

TotalPublic Private

I-32


Of the total external debt, 31 percent were owned by the public sector and 5 percent by the Central Bank. The share of the banking system in outstanding external debt was 19 percent, and non-bank sectors had a share of 45 percent. The ratio of public sector (excluding Central Bank) external debt to gdp was 14 percent. Out of the total long-term external debt, a portion of USD 38 billion owed to official creditors and USD 140 billion to private creditors. The largest share in the official creditors belonged to international institutions item, which also included the International Monetary Fund, with USD 31 billion. Moreover, the bonds stock comprised entirely of long-term bonds was at the level of USD 41 billion as of December 2009.

I-33


3. Turkish Banking System in 20091 3.1. Number of Banks and Branches The number of banks operating in Turkey was 49; of which 4 were participation banks.2 The number of deposit banks and development and investment banks remained the same at 45 compared with the end of 2008, of which 32 banks were deposit banks, and 13 were development and investment banks. Out of deposit banks, 3 were state-owned banks and 11 were private banks. There was 1 bank owned by the Saving Deposits Insurance Fund (SDIF). There were 17 deposit banks with foreign capital participation whose shares were owned by non resident investors at a rate of minimum 51 percent. Of the development and investment banks, 3 were state-owned, 6 were private and 4 were foreign banks.

Number of Banks and Branches*

2002 2008 2009 Bank Branch Bank Branch Bank Branch Deposit banks 40 6,087 32 8,741 32 8,991 State-owned banks 3 2,019 3 2,416 3 2,530 Private banks 20 3,659 11 4,290 11 4,390 SDIF banks 2 203 1 1 1 1 Foreign banks 15 206 17 2,034 17 2,062Development and investment banks 14 19 13 49 13 44 State-owned banks 3 4 3 23 3 22 Private banks 8 12 6 12 6 15 Foreign banks 3 3 4 14 4 7Total 54 6,106 45 8,790 45 9,027

Source: The Banks Association of Turkey * Including branches in the Turkish Republic of Northern Cyprus and branches abroad. Despite the negative effects of global fluctuations, the number of branches increased in all bank groups, except the development and investment banks in 2009, due to the banking sector’ strong capital base, sound balance sheet structure and rising profitability. Total number of branches increased by 237 to 9,027. The number of branches increased by 248 in the deposit banks group, and decreased by 5 in the development and investment banks. The number of branches increased by 100 in private banks, 114 in state-owned banks, and 28 in foreign banks. 3.2. Number of Employees The number of employees also continued to increase in 2009 similar to the number of branches. The number of employees increased by 1,523 in deposit banks and 113 in private banks, but decreased by 891 in foreign banks and 6 in the bank owned by the SDIF. The number of employees in development and investment banks increased by 66.

1 Includes data about deposit banks and development and investment banks. 2 Please see www.bddk.org.tr and www.tkbb.org.tr addresses for detailed information about participation banks.

I-34


Number of Employees

2002 2008 2009 Deposit banks 118,329 166,325 167,064 State-owned banks 40,159 43,333 44,856 Private banks 66,869 82,158 82,271 SDIF banks 5,886 267 261 Foreign banks 5,416 40,567 39,676Development and investment banks 4,942 5,273 5,339 State-owned banks 4,174 4,146 4,165 Private banks 691 794 842 Foreign banks 77 333 332Total 123,271 171,598 172,403

Source: The Banks Association of Turkey Of the total bank employees, 97 percent were employed by deposit banks, and remaining 3 percent by development and investment banks.

Number of Branches and Employees Per Bank

Branch Employee 2002 2008 2009 2002 2008 2009 Deposit banks 152 273 281 2,958 5,198 5,221 State-owned banks 673 806 843 13,386 14,444 14,952 Private banks 183 390 399 3,343 7,469 7,479 SDIF banks 102 1 1 2,943 267 261 Foreign banks 14 120 122 361 2,386 2,334Development and investment banks 1 4 3 353 406 411 State-owned banks 1 8 8 1,391 1,382 1,388 Private banks 2 2 3 86 132 140 Foreign banks 1 4 2 26 83 83Total 113 195 201 2,283 3,813 3,831

Source: The Banks Association of Turkey Of total employees in the banking sector, 26 percent were employed in state-owned banks, 48 percent in private banks, and 23 percent in foreign banks.

Number of Branches and Employees (2002-2009)9,500

9,000

8,500

8,000

7,500

7,000

6,500

6,000

5,500

5,000

180,000

170,000

160,000

150,000

140,000

130,000

120,000

110,000

100,000

Branch Employee (right axis)

02 03 04 05 06 07 08 09

I-35


In 2009, the number of branches reached its highest level since 1961, and the number of employees reached its peak level after 1999.

Total assets increased by 13 percent and reached TL 799 billion (USD 537 billion) in 2009 as compared to 2008. The growth rate in total assets was 16 percent in dollar terms. The ratio of total assets to gdp rose by 10 percentage points to 84 percent.

Considering the deposit bank group the growth rate in total assets were 20 percent in state-owned banks, 12 percent in private banks and 3 percent in foreign banks. The growth rate in total assets of the development and investment banks was 18 percent.

61 31337,815215,177 sknab tisopeD

State-owned banks 249,976 168,074 20 23 41 21648,772142,314 sknab etavirP 1- 3- 245708 sknab FIDS 5 3 072,27884,701 sknab ngieroF

Development and investment banks 27,021 18,168 18 21 61 31109,635335,897 latoT

Source: The Banks Association of Turkey

Annual growth rate of total assets in TL terms slowed down during the entire year; declined from 26 percent to 13 percent. The main factors underlying this decline were the narrowing demand for loans for working capital and investments due to slowdown in economic activities, and the increasing public sector borrowing requirement, and the banks attitudes to act more prudently towards rising loan risks, and the decrease in borrowing from resources from abroad. On the other hand, due to measures taken by the BRSA and the Central Bank, the liquidity concerns of banks reduced, and banks entered into a serious competition for increasing the supply of long-term loans and offering single-digit interest rates to customers in the high loan quality category.

Total Assets (USD billion, as percentage of gdp)

600

550

500

450

400

350

300

250

200

150

100

90

85

80

75

70

65

60

55

5002 03 04 05 06 07 08 09/1 09/2 09/3 09/4

Total assets / gdp (right axis)Total assets

I-36


Deposits remained as the most important resource of funds. As the foreign borrowing resources became more limited, the cost of which was relatively higher, banks reduced their foreign funding operations.

Liquid assets 1,681 321,37 stessa laicnaniF 211,41 snaoL

Other assets 3,746 266,29 latoT 630,49 LT-

-Fx -1,374

477,35 stisopeD 454,21 sdnuf tisoped-noN 277,32 ytiuqe ’sredloherahS 266,2 seitilibail rehtO 266,29 latoT 844,58 LT- 312,7 xF-


Total balance sheet size of the banking sector increased by TL 93 billion in 2009. Of this increase 58 percent (TL 53.8 billion) stemmed from deposits, 13 percent (TL 12.5 billion), from non-deposit resources 26 percent (TL 23.8 billion) from shareholders’ equity and 3 percent (TL 2.7 billion). from other liabilities. Of the resources 79 percent (TL 73.1 billion), were allocated to securities portfolio, 15 percent (TL 14.1 billion) to loan facilities and 2 percent (TL 1.7 billion) to liquid assets.

The share of deposit banks in the total assets was 97 percent, and that of development and investment banks was 3 percent. In the deposit banks group, the share of state-owned banks in total assets rose by 2 percentage points, and the share of foreign banks in total assets fell by 2 percentage points.

69 69 98001001001797969 sknab tisopeD State-owned banks 36 29 31 39 36 37 20 24 27

25 45 56051585252565 sknab etavirP 0 0 0000 sknab FIDS 71 81 43131231513 sknab ngieroF

Development and investment banks 4 3 3 - - - 11 4 4001 001 001001001001001001001 latoT


The share of private banks in total assets decreased by 1 percentage point to 50 percent, while the share of state-owned banks increased by 1 percentage point to 37

I-37


percent. The share of state-owned in total loans rose from 24 percent to 27 percent, and that of private banks reduced by 2 percentage points to 52 percent, and the share of foreign banks also decreased by 1 percentage point to 17 percent. 3.5. Concentration The share of the largest five banks in total assets and total deposits increased by 1 percentage point each, while their share in total loans decreased by 3 percentage points. The share of the largest ten banks in total assets and total deposits increased by 1 percentage point each, and their share in total loans decreased by 1 percentage point, as of the end of 2009.

Concentration in Banking Sector* (percentage)

2002 2007 2008 2009 Largest five* T. assets 58 62 62 63 T. deposits 61 64 65 66 T. loans 55 57 58 55 Largest ten* T. assets 81 85 86 87 T. deposits 86 89 90 91 T. loans 74 83 84 85

* In terms of total assets Source: The Banks Association of Turkey As of the end of 2009, the largest five banks included 2 state-owned and 3 private banks, and the largest ten banks included 3 state-owned, 4 private and 3 foreign banks.

The Number of Banks by Asset Size (2009) USD billion

+0-2 2-5 5-10 10-20 20-40 40+

02 09 02 09 02 09 02 09 02 09 09Number Deposit b. 26 14 7 4 1 3 5 4 1 0 7 State 1 1 1 0 3 Private 11 3 5 2 1 4 1 4 Foreign 10 10 2 2 3 Fund 5 1 2 Dev. inv. b. 13 10 1 2 1 Total 39 24 8 6 1 4 5 4 1 0 7 There were 7 banks with an asset size above USD 40 billion, and 4 banks with an asset size between USD 10 billion and USD 20 billion. On the other hand, more than half of the banks in the banking sector had an asset size below USD 2 billion. 3.6. Balance Sheet TL-FX Structure and “FX Assets - FX liabilities” TL assets increased by 19 percent, while foreign exchange assets decreased by 1 percent on an annual basis as of December 2009. At the liabilities side, TL liabilities rose by 19 percent, and foreign exchange liabilities rose by 3 percent.

I-38


Strong demand for TL, declining use of external resources, maintaining of TL’s value against foreign exchanges, and growth in shareholders’ equity and securities portfolio provided the preservation of weight of TL in the balance sheet. As a result, the share of TL assets in balance sheet rose from 69 percent to 73 percent, and the share of TL liabilities in balance sheet rose from 65 percent to 68 percent.

Fx Position by Groups* (percentage)

Per. share Per. share USD billion Fx assets Fx liabilities Fx assets-Fx liabilities 2008 2009 2008 2009 2008 2009 Deposit banks 31 27 35 32 -17.0 -23.5 State-owned banks 23 21 24 22 -1.4 -1.5 Private banks 37 32 39 36 -2.9 -9.3 SDIF banks 13 13 13 13 0.0 0.0 Foreign banks 24 20 43 38 -12.8 -12.7Dev. and investment banks 27 30 34 34 -1.0 -0.8Total 31 27 35 32 -18.0 -24.2

*The definition of Fx position used in the table means the difference between Fx assets and Fx liabilities in balance-sheet. This definition differs from that of ‘Net General Position’ in the regulation on standard ratio for Fx Net General Position/Capital Base issued by the Central Bank and BRSA. Hence, Fx denominated loans in the balance-sheet, Fx assets and Fx liabilities in the off-balance sheet are not included in the former definition.

By bank groups, the weight of TL items in balance sheet showed significant differences. The state-owned banks had a TL dominated balance sheet structure. The share of TL assets in total assets was 79 percent in the state-owned banks, and 68 percent in private banks. There were similar differences in distribution of liabilities. As a matter of fact, the share of TL liabilities in total liabilities was 78 percent in state-owned banks and 65 percent in private banks, respectively. The difference between foreign exchange assets and foreign exchange liabilities, which shows the balance sheet foreign exchange position of the banking sector, was USD 24.2 billion in 2009. Out of USD 12.7 billion foreign exchange position belongs to foreign banks. On the other hand, foreign exchange net general position gave a surplus of USD 46 million. The ratio of net foreign exchange position to shareholders’ equity was around 0.06 percent.

Share of TL Items in Balance Sheet (percentage)75

70

65

60

55

50

4502 03 04 05 06 07 08 09

Assets Liabilities

I-39


Net General Fx Position (USD million)

2007 2008 2009 Deposit banks* -298 -129 107 State-owned banks 156 -191 93 Private banks -219 44 98 Foreign banks -235 18 -84 Development and investment banks 2 38 -111 Total* -296 16 46

Source: BRSA Weekly Bulletin *SDIF banks are excluded. 3.7. Structure of Assets There were significant changes in the structure of assets especially in the first three quarters of 2009. Securities portfolio grew due to the increase in the public sector borrowing requirement. At the same time, the rate of increase in loans slowed down depending on decline in loan demand due to downsizing in economic activities and the tightening of lending standards of banks in parallel with increasing loan risk. The liquid assets were tried to be kept at a high level because of the risk perception increasing in the first half of the year, but started to fall in the second quarter of the year.

The Structure and Development of Assets

TL million

USD million

Per. change (TL)

Per. share 2008 2009

Liquid assets 102,567 68,962 2 14 13Financial assets (FA) 280,930 188,886 35 29 35 FA value change is reflected to income statement (net) 10,355 6,962 40 1 1 Investments for sale (net) 150,759 101,364 89 11 19 Investments held to maturity (net) 119,468 80,325 0 17 15Derivative FA held for hedging 348 234 -60 0 0Loans 381,013 256,177 4 52 48 Non-performing loans 20,671 13,898 56 2 3 Specific provisions (-) 17,464 11,742 62 2 2Permanent assets (PA) 24,612 16,548 12 3 3 Investments and associates 1,469 987 10 0 0 Subsidiaries 10,943 7,358 25 1 1

Joint ventures 28 19 10 0 0 Property and equipment (net) 10,025 6,741 4 1 1 Intangible assets (net) 1,792 1,205 -3 0 0 PA held for sale purpose 355 239 -12 0 0Other assets 9,411 6,328 13 1 1Total assets 798,533 536,901 13 100 100

Source: The Banks Association of Turkey The growth rate in loans was 7 percent in the first half, and 4 percent as of the end of year on annual basis. The securities portfolio grew by 35 percent on annual basis. The share of loans in total assets reduced by 4 percentage points to 48 percent, while that of securities portfolio rose by 6 percentage points to 35 percent.

I-40


Total loans were consisted of TL loans by 72 percent and foreign exchange loans by 28 percent. The share of corporate loans in total loans was 67 percent, and the share of loans borrowed by households was 33 percent, as of the end of 2009.

The share of consumer loans in total loans increased by 2 percentage points to 33 percent. The share of housing loans in consumer loans was 33 percent, credit cards 28 percent, automobile loans 6 percent and other consumer loans 34 percent. According to the data published by BRSA, cash loans extended to SMEs decreased by 1 percent, while non-cash loans increased by 4 percent in 2009. The non-performing loans of SMEs increased by 62 percent to TL 6.9 billion and accounted for 32 percent of total non-performing loans. The share of the loans extended to SMEs in total loan stock was 21 percent. The number of customers categorized as SMEs grew by 5 percent to 1.7 million in 2009.

45

40

35

30

25

20

15

10

5

0

Total Loans and Securities (annual percentage change)

Securities Loans

07/4 08/1 08/2 08/3 08/4 09/1 09/2 09/3 09/4

Loans/Total Assets and Loans/Gdp (percentage)60

50

40

30

20

10

002 03 04 05 06 07 08 09/1 09/2 09/3 09/4

Loans/T. Assets Loans/Gdp

I-41


Loans By Sectors* (TL million)

Per. change Per. share 2009 (09/08) 2002 2008 2009

Corporate loans 266,757 9 86 69 67 Consumer loans 130,951 7 14 31 33 Credit cards 37,612 1 9 9 9 Housing 44,888 14 1 10 11 Automobile 4,423 -24 1 2 1 Other 44,028 10 3 10 11 Total 397,708 8 100 100 100 Source: BRSA * Participation banks are included. In deposit banks and development and investment banks, the non-performing loans before specific provisions increased by 56 percent to TL 20.7 billion in 2009. Specific provisions were set aside for 85 percent of the non-performing loans. This rate was 87 percent in state-owned banks, 88 percent in private banks and 75 percent in foreign banks. The ratio of non-performing loans after specific provisions to total loans increased from 0.7 percent to 0.8 percent.

Non-Performing Loans* and Specific Provisions (percentage) NPLs/Total Loans Provisions/NPLs 2002 2008 2009 2008 2009 Deposit banks 20 3.7 5.6 81.2 84.6 State-owned banks 24 3.8 4.5 87.5 86.7 Private banks 9 3.5 5.4 80.3 88.2 SDIF banks 119 478 520 85.1 82.1 Foreign banks 5 4.1 7.8 75.5 75.3Development and investment banks 3 1.4 2.0 91.7 75.1Total 19 3.6 5.4 81.4 84.5Source: The Banks Association of Turkey * Before provisions The non-performing loans, by including participation banks, increased by 57 percent in total, 87 percent in consumer loans and 43 percent in corporate loans. The rate of increase was 79 percent in credit cards and 97 percent in consumer loans.

Non-Performing Loans By Sectors* (2009, TL million)

Total loans

NPLs (gross)

NPLs/Total loans (percentage)

Corporate 266,757 13,475 4.8 Consumer 130,951 8,375 6.0 Credit cards 37,612 4,335 10.3 Housing 44,888 962 2.1 Automobile 4,423 508 10.3 Other 44,028 2,570 5.5 Total 397,708 21,853 5.2 Source: BRSA * Participation banks are included. In corporate loans, the increase rate in non-performing loans even exceeded 100 percent in agriculture and livestock industry, transportation, and metal main industries.

I-42


3.8. Structure of Liabilities Total deposits grew by 12 percent, but its share in total liabilities remained the same at 64 percent. TL equivalent sum of foreign exchange deposits increased by 7 percent, and its USD equivalent sum increased by 10 percent. The share of foreign exchange deposits in total liabilities declined by 1 percentage point to 22 percent. On the other hand, TL deposits increased by 14 percent and its share in total liabilities rose by 1 percentage point to 42 percent. Thus, total deposits of TL 507 billion, was consisted of TL deposits by 66 percent and foreign exchange deposits by 34 percent. The share of TL deposits in total deposits was 75 percent in state-owned banks, 60 percent in private banks and 61 percent in foreign banks.

The Structure and Development of Liabilities

TL million

USD

million

Per. change

(TL)

Per. share

2008 2009 Deposits 507,258 341,060 12 64 64 TL 333,090 223,956 14 41 42 Fx 174,168 117,104 7 23 22 Non-deposit funds 137,680 92,570 10 18 17 Shareholder’s equity 106,467 71,584 29 12 13 Paid-in capital 39,803 26,762 8 5 5 Supplementary capital 18,411 12,379 39 2 2 Profit reserves 46,275 31,114 24 5 6 Profit or loss 1,977 1,330 -141 -1 0 Previous year income/loss -17,500 -11,766 -1 -2 -2 Current year income/loss 19,477 13,096 52 2 2 Other liabilities 47,127 31,686 6 6 6 Total liabilities 798,533 536,901 13 100 100

Source: The Banks Association of Turkey Non-deposit funds which constituted 17 percent of total funds, increased by 10 percent and reached TL 138 billion in 2009. As a result of decline in external loans, the share of the loans borrowed from abroad in total liabilities declined from 11 percent to 9 percent. On the other hand, the funds from repo transactions grew by 49 percent and constituted 8 percent of total liabilities.

Total Deposits by Bank Groups (TL million, 2009)

Percentage share TL FX Total TL FX Total Deposit banks 333,090 174,168 507,258 66 34 100 State-owned banks 140,676 46,455 187,131 75 25 100 Private banks 152,459 102,271 254,730 60 40 100 SDIF banks 11 17 28 41 59 100 Foreign banks 39,944 25,425 65,369 61 39 100Development and investment banks - - - - - -Total 333,090 174,168 507,258 66 34 100Source: The Banks Association of Turkey Average maturity of total deposits was 2.4 months. Average maturity of foreign exchange deposits which was 2.8 months in December 2008 reduced to 2.7 months in December 2009, while average maturity of TL deposits remained the same at 2.2 months.

I-43


3.9. Shareholders’ Equity Shareholders’ equity increased by 29 percent in TL terms to TL 106 billion, and by 32 percent in dollar terms to USD 72 billion. Free shareholders’ equity (shareholders’ equity – fixed assets – non-performing loans after provisions) grew from TL 58 billion (USD 38 billion) to TL 79 billion (USD 53 billion). The reasons underlying the increase in shareholders’ equity were the increase in profit volume and the BRSA’s decision about the profit distribution of banks which was made subject to a prior permission of the Board.

Shareholders’ Equity

TL million

USD million

Per. change

(TL)

Per. change

(USD)

Share in total liabilities

(per.) Deposit banks 93,833 63,089 30 33 12.2 State-owned banks 23,495 15,797 36 39 9.4 Private banks 53,895 36,237 32 35 13.0 SDIF banks 633 426 -4 -2 78.4 Foreign banks 15,810 10,630 20 23 14.7 Develop. and investment banks 12,635 8,495 19 22 46.8 Total 106,467 71,584 29 32 13.3

Source: The Banks Association of Turkey The ratio of shareholders’ equity to total assets increased from 10.4 percent to 13.3 percent as of December 2009. The ratio of free shareholders’ equity to total assets rose by 1.5 percentage points to 9.8 percent.

Free Shareholders’ Equity*

TL million

Shareholders’ equity/ Total Assets (per.)

2002 2008 2009 2002 2008 2009 Deposit banks 3,053 48,252 66,772 1.5 7.1 8.7 State-owned banks 700 12,477 17,952 0.9 6.0 7.2 Private banks 1,262 25,524 36,495 1.1 6.9 8.8 SDIF banks -2,537 588 567 -27.2 70.5 70.3 Foreign banks 1,091 9,664 11,757 16.5 9.2 10.9 Develop. and investment banks 2,550 10,034 11,877 27.0 43.8 44.0 Total 5,602 58,286 78,649 2.6 8.3 9.8

Source: The Banks Association of Turkey * Shareholders’ equity-permanent assets-loans under follow-up after specific provisions Capital adequacy ratio increased by 2.8 percentage points and reached 20.9 percent at the end of 2009 compared with the end of 2008. The rise in capital adequacy was positively affected from not only the slowdown in increase of loan volume, but also the growth in profit volume enabling the banks to set aside a high rate of provisions for non-performing loans.

I-44


Net profit of the banking sector increased by 52 percent to TL 19,477 million. Net profit grew up by 64 percent in state-owned banks, 49 percent in foreign banks, and by 54 percent in private banks and 7 percent in development and investment banks.

Net Profit-Loss, 2009 Net Profit-Loss Per. change (TL million) (USD million) (TL ) (USD) Deposit banks 18,490 12,432 56 60 State-owned banks 6,393 4,299 64 67 Private banks 9,975 6,707 54 57 SDIF banks 55 37 -32 -31 Foreign banks 2,067 1,390 49 53 Development and investment banks 988 664 7 10 Total 19,477 13,096 52 56

Source: The Banks Association of Turkey The basic reasons underlying the increase in profit volume were rapid fall in interest rates, and increase in fee and commission revenues, and limitation of operating expenses, the longer maturity of the banking assets than that of the banking liabilities.

Return on Assets and Return on Equity, 2009

Return on assets Return on equity (percentage) (percentage) Deposit banks 2.4 19.7 State-owned banks 2.6 27.2 Private banks 2.4 18.5 SDIF banks 6.8 8.6 Foreign banks 1.9 13.1 Development and investment banks 3.7 7.8 Total 2.4 18.3


Net return on assets of the banking sector increased from 1.8 percent to 2.4 percent, and net return on equity rose from 15.4 percent to 18.3 percent. Return on assets

Shareholders’ Equity (USD billion) and Capital Adequacy (percentage)

80

70

60

50

40

30

20

10

0

Capital adequacy (right axis)Shareholders’ equity Free shareholders’ equity

35

30

25

20

15

1002 03 04 05 06 07 08 09

I-45


and return on equity grew in all bank groups, except for the development and investment banks.

3.10. Income – Expenditure Structure Interest income of the banking sector declined by 1 percent, while its interest expenses fell by 22 percent. Accordingly, net interest income grew up by 36 percent. Net fees and commissions income increased by 10 percent, and net trading income/ loss showed a positive balance. The increase in other operating expenses remained limited. Net operating income grew up by 52 percent, and provisions for tax grew by 56 percent. Due to these developments, net income of the period increased by 52 percent to TL 19.5 billion.

Income-Expenditure Structure, December 2009

TL million

USDmillion

Per. change (TL)

Per. change (USD)

Interest income 83,610 56,216 -1 2 Interest expense 41,792 28,099 -22 -20 Net interest income 41,818 28,117 36 39 Net fees and commission income 9,283 6,241 10 12 Dividend income 771 518 -13 -11 Net trading income/expense 1,663 1,118 -909 -928 -Income on trading account securities 2,647 1,780 79 83 -Foreign exchange income 677 455 -140 -141 Other operating income 4,049 2,723 -3 -1 Total operating income/loss 57,585 38,718 30 33 Provision for loan or other receivables loss (-) 12,086 8,126 59 63 Other operating expense (-) 21,432 14,410 3 6 Net operating income/loss 24,067 16,181 52 56 Provisions (continuing operation) -4,730 -3,181 56 59 Net income (terminated operation) 141 95 -2,080 -2,126 Net income 19,477 13,096 52 56


Return on Equity and Goverment Bonds (difference, percentage)10

8

6

4

2

0

-2

-4

-6

-8

-1004 05 06 07 08 09

I-46


Due to the fall in interest rates, both interest income and interest expenses declined. Because of the maturity mismatch between assets and liabilities items, decline in the total interest income was limited by 1 percent, while total interest expenses fell by 22 percent. Net interest income rose by 36 percent. This increase was the basic factor underlying the increase in profit. Moreover, the shrinking of net non-interest expenses through limitation of increase in operational expenses positively affected the profitability, but the increase in provisions set aside for non-performing loans negatively affected. 3.11. Off-Balance Sheet Items Off-balance sheet items increased by 28 percent, and custody and pledged securities item by 29 percent in 2009. The rate of increase in off-balance sheet items, except for the custody and pledged securities item, was 22 percent.

Off-Balance Sheet Items, December 2009

TL USD Per. change million million (TL) (USD) Guaranties and warranties 114,382 76,906 8 10 Commitments 187,300 125,933 25 28 Derivative financial instr. 246,195 165,531 28 31 Sub total 547,877 370,187 22 25 Custody and pledged sec. 8,229,271 5,533,027 29 32 Total 8,777,147 5,901,397 28 31 Source: The Banks Association of Turkey By sub-items of off-balance sheet, the derivative financial instruments which particularly included the foreign exchange risk hedging transactions, showed an increase of 28 percent, and the commitments item by 25 percent on annual basis. The rate of increase in guarantees and warranties was 8 percent. 3.12. Number of ATM, POS and Cards According to the data published by the Interbank Card Center, total number of credit cards increased by 2 percent and reached 44.4 million as of December 2009 compared with the end of 2008. In the same period, total debit card number also increased by 7 percent and reached 64.7 million. The numbers of POS devices and ATMs also increased by 6 percent and 8 percent to 1,738,728 and 23,800 respectively, in 2009.

Number of ATM, POS and Cards

Dec. 2008 Dec. 2009 Per. change

Total credit card (‘000) 43,394 44,393 2 Total debit card (‘000) 60,551 64,662 7 POS (‘000) 1,633 1,739 6 ATM 21,970 23,800 8 Credit card trans. vol. (TL billion)* 187 205 10 Debit card trans. vol. (TL billion)* 156 188 21 Source: Interbank Card Center * Usage in Turkey.

I-47


Credit card transaction volume increased by 10 percent and reached TL 205 billion, while debit card transaction volume increased by 21 percent and reached TL 188 billion, in 2009. The ratios of debit card and credit card transaction volumes to gdp were 16 percent and 20 percent, respectively. 3.13. Internet Banking Statistics The number of internet banking customers increased by 15 percent and reached 5.9 million in 2009 compared with the previous year. 90 percent of customers were individual customers and the remaining 10 percent were corporate customers.

Selected Indicators for Internet Banking (TL billion)

Dec. 2008 Dec. 2009 Per. change Number of active customers (‘000) 5,169 5,949 15 Financial transactions 492.8 550.7 12 Investment transactions 213.5 263.3 23 Credit card transactions 16.3 18.3 12 Other financial transactions 60.8 51.6 -15 Total 783.4 883.9 13

Source: The Banks Association of Turkey Internet banking transactions increased by 13 percent and reached TL 884 billion in December 2009 compared with December 2008. The financial transactions, consisted mainly of transfers, increased by 12 percent, credit card transactions by 12 percent, and investment transactions by 23 percent, while other financial transactions decreased by 15 percent.

I-48

The Banks Association of Turkey andBanks Operating in Turkey

II-1

The Banking System in Turkey

Deposit Banks

State-owned Banks

Privately-owned Banks

Banks Under the Deposit Insurance Fund

Foreign Banks

Development and Investment Banks

II-9


Assets(USD Million)

Dec. 2009 % Dec. 2008 %TC FC Total Distr. TC FC Total Distr.

Cash and Balances with the Central Bank 19,741 13,598 33,338 6.2 21,986 14,700 36,686 7.9Fin.ass.where fair value cha. is refl.to I/S (Net) 5,959 1,003 6,962 1.3 3,589 1,276 4,865 1.0

Financial assets held for trading 4,507 1,001 5,508 1.0 3,439 1,275 4,714 1.0Public sector debt securities 3,311 504 3,815 0.7 2,020 378 2,398 0.5Securities representing a share in capital 22 0 22 0.0 0 0 0 0.0Derivative financial assets held for trading 1,163 492 1,655 0.3 1,409 868 2,276 0.5Other marketable securities 10 6 15 0.0 10 29 39 0.0

Fin.assets clas. as fair value change is refl.to I/S 1,453 2 1,454 0.3 150 1 151 0.0Public sector debt securities 53 2 54 0.0 150 0 150 0.0Securities representing a share in capital 0 0 0 0.0 0 1 1 0.0Loans 1,400 0 1,400 0.3 0 0 0 0.0Other marketable securities 0 0 0 0.0 0 0 0 0.0

Banks 4,777 22,081 26,858 5.0 2,978 20,009 22,987 5.0Money Market Securities 8,085 681 8,766 1.6 6,429 192 6,621 1.4

Interbank money market placements 8,060 128 8,187 1.5 6,344 116 6,459 1.4Istanbul Stock Exc. money market placements 20 0 20 0.0 79 0 79 0.0Receiv. from reverse repurchase agreements 5 553 558 0.1 6 76 83 0.0

Financial Assets Available for Sale (Net) 83,879 17,486 101,364 18.9 35,055 17,243 52,298 11.3Securities representing a share in capital 124 78 202 0.0 74 67 141 0.0Public sector debt securities 83,486 13,280 96,766 18.0 34,435 13,347 47,781 10.3Other marketable securities 269 4,128 4,397 0.8 547 3,829 4,376 0.9

Loans 184,838 71,339 256,177 47.7 169,860 71,236 241,097 52.0Loans 182,744 71,277 254,021 47.3 168,245 71,233 239,478 51.6

Loans granted to the Banks risk group 1,546 1,579 3,125 0.6 837 1,799 2,636 0.6Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 181,199 69,698 250,897 46.7 167,408 69,434 236,842 51.1

Loans under follow-up 13,685 213 13,898 2.6 8,583 101 8,684 1.9Specific provisions (-) 11,592 150 11,742 2.2 6,968 98 7,066 1.5

Factoring Receivables 111 23 134 0.0 42 9 51 0.0Investments held to Maturity (Net) 63,945 16,380 80,325 15.0 63,537 15,287 78,824 17.0

Public sector debt securities 63,938 15,379 79,317 14.8 63,531 15,192 78,723 17.0Other marketable securities 7 1,001 1,008 0.2 6 96 102 0.0

Investments and Associates (Net) 829 158 987 0.2 705 174 879 0.2Accounted with equity method 50 128 178 0.0 49 145 194 0.0Non-consolidated investments and associates 779 30 809 0.2 656 29 685 0.1

Financial investments and associates 307 30 337 0.1 198 29 227 0.0Non-financial investments and associates 472 0 472 0.1 458 0 458 0.1

Subsidiaries (Net) 5,398 1,960 7,358 1.4 3,797 1,940 5,737 1.2Financial subsidiaries 3,949 1,955 5,904 1.1 2,825 1,935 4,761 1.0Non-financial subsidiaries 1,449 5 1,454 0.3 971 5 976 0.2

Joint Ventures (Business Partners) (Net) 1 17 19 0.0 0 16 16 0.0Accounted with equity method 0 0 0 0.0 0 0 0 0.0Non-consolidated joint ventures 1 17 19 0.0 0 16 16 0.0

Financial joint ventures 0 17 17 0.0 0 16 16 0.0Non-financial joint ventures 1 0 1 0.0 0 0 0 0.0

Recivables From Leasing Transactions 1 104 105 0.0 1 160 161 0.0Finance lease receivables 0 110 110 0.0 1 178 180 0.0Operational leasing receivables 0 0 0 0.0 0 0 0 0.0Others 1 0 1 0.0 0 0 0 0.0Unearned income (-) 0 6 6 0.0 0 18 18 0.0

Derivative Financial Assets Held for Hedging 221 13 234 0.0 500 66 566 0.1Fair value hedges 107 3 111 0.0 83 6 89 0.0Cash flow hedges 113 10 123 0.0 418 60 477 0.1Hedges for invest. made in foreign countries 0 0 0 0.0 0 0 0 0.0

Property and Equipment (Net) 6,733 8 6,741 1.3 6,304 6 6,310 1.4Intangible Assets (Net) 1,203 2 1,205 0.2 1,212 2 1,214 0.3

Goodwill 715 0 715 0.1 699 0 699 0.2Other 489 2 490 0.1 514 2 516 0.1

Real Estates for Investment Purpose (Net) 14 0 14 0.0 7 0 7 0.0Assets for Tax 1,376 0 1,376 0.3 910 0 910 0.2

Current assets for tax 105 0 105 0.0 116 0 116 0.0Deferred assets for tax 1,271 0 1,271 0.2 794 0 794 0.2

Prop.&Equ.for Sale p. and from Term.Op.(Net) 239 0 239 0.0 264 0 265 0.1Other Assets 3,583 1,116 4,699 0.9 3,100 1,245 4,344 0.9

Total Assets 390,932 145,969 536,901 100.0 320,277 143,562 463,839 100.0

II-10

The Banking System in Turkey December 2009

Liabilities(USD Million)


Deposits 223,956 117,104 341,060 63.5 191,519 106,474 297,992 64.2Deposits held by the Banks risk group 5,747 5,477 11,224 2.1 5,244 4,988 10,233 2.2Other 218,209 111,626 329,836 61.4 186,274 101,485 287,760 62.0

Derivative Finan. Liabilities Held for Trading 1,051 587 1,639 0.3 1,182 739 1,921 0.4Funds Borrowed 8,018 39,018 47,036 8.8 8,467 42,928 51,394 11.1Money Market Takings 35,308 5,899 41,207 7.7 23,362 3,767 27,129 5.8

Interbank money market takings 0 147 147 0.0 0 140 140 0.0Istanbul Stock Exc. money market takings 15 0 15 0.0 45 0 45 0.0Funds provided under repurchase agreements 35,292 5,752 41,044 7.6 23,317 3,627 26,943 5.8

Marketable Securities Issued (Net) 70 0 70 0.0 0 0 0 0.0Bills 35 0 35 0.0 0 0 0 0.0Asset backed securities 0 0 0 0.0 0 0 0 0.0Bonds 35 0 35 0.0 0 0 0 0.0

Funds 4,097 161 4,258 0.8 3,687 78 3,764 0.8Borrower funds 188 161 349 0.1 147 78 225 0.0Others 3,909 0 3,909 0.7 3,539 0 3,539 0.8

Miscellaneous Payables 8,645 1,005 9,650 1.8 7,098 996 8,094 1.7Other External Resources 3,465 1,192 4,658 0.9 3,317 1,957 5,273 1.1Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 29 35 64 0.0 28 115 143 0.0

Finance leasing payables 35 38 74 0.0 37 125 161 0.0Operations leasing payables 0 0 0 0.0 0 0 0 0.0Others 0 0 0 0.0 0 0 0 0.0Deferred finance leasing expenses (-) 7 3 9 0.0 8 10 18 0.0

Derivative Finan. Liabilities Held for Hedging 884 38 922 0.2 679 136 814 0.2Fair value hedges 298 29 327 0.1 154 37 190 0.0Cash flow hedges 586 9 595 0.1 525 99 624 0.1Hedges for invest. made in foreign countries 0 0 0 0.0 0 0 0 0.0

Provisions 8,302 540 8,842 1.6 6,910 503 7,413 1.6General provisions 2,376 414 2,790 0.5 1,989 333 2,323 0.5Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 1,318 1 1,319 0.2 1,205 1 1,206 0.3Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 4,608 125 4,733 0.9 3,715 169 3,884 0.8

Liabilities for Tax 1,651 11 1,662 0.3 1,557 3 1,560 0.3Current liabilities for tax 1,586 11 1,598 0.3 1,522 3 1,525 0.3Deferred liabilities for tax 64 0 64 0.0 35 0 35 0.0

Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 1 1 0.0 0 2 2 0.0Subordinated Loans 124 4,124 4,248 0.8 60 3,938 3,998 0.9Shareholders' Equity 71,098 486 71,584 13.3 54,371 -31 54,341 11.7

Paid-in capital 26,762 0 26,762 5.0 24,271 0 24,271 5.2Supplementary capital 11,901 478 12,379 2.3 8,739 -36 8,703 1.9

Share premium 2,117 0 2,117 0.4 2,068 0 2,068 0.4Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 3,209 503 3,712 0.7 -64 -14 -78 0.0Revaluation changes of property and equip. 515 0 515 0.1 480 0 480 0.1Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 57 0 57 0.0 54 0 54 0.0Hedging funds (active part) -428 -25 -453 -0.1 -193 -23 -215 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 6,432 0 6,432 1.2 6,393 0 6,393 1.4

Profit reserves 31,105 9 31,114 5.8 24,538 6 24,544 5.3Legal reserves 4,251 3 4,254 0.8 3,578 3 3,581 0.8Status reserves 19 0 19 0.0 15 0 15 0.0Extraordinary reserves 26,443 0 26,443 4.9 20,602 0 20,602 4.4Other profit reserves 392 6 397 0.1 344 3 347 0.1

Profit or loss 1,330 0 1,330 0.2 -3,177 0 -3,177 -0.7Prior years income/loss -11,766 0 -11,766 -2.2 -11,571 0 -11,571 -2.5Current year income/loss 13,096 0 13,096 2.4 8,394 0 8,394 1.8

Total Liabilities 366,699 170,202 536,901 100.0 302,236 161,604 463,839 100.0

II-11


Off Balance Sheet Commitments(USD Million)

Dec. 2009 Dec. 2008TC FC Total TC FC Total

Guarantees and Warranties 30,705 46,201 76,906 25,523 44,116 69,639Letters of guarantee 29,191 27,928 57,119 24,451 25,648 50,099Bank acceptances 3 1,982 1,985 1 2,104 2,105Letters of credit 11 13,623 13,634 1 14,234 14,235Prefinancing given as guarantee 0 15 15 0 12 12Endorsements 0 351 351 0 0 0Other guarantees and warrantees 1,500 2,303 3,803 1,069 2,118 3,187

Commitments 96,641 29,292 125,933 81,576 16,827 98,403Irrevocable commitments 89,655 25,184 114,839 65,245 13,072 78,317Revocable commitments 6,986 4,108 11,094 16,331 3,755 20,086

Derivative Financial Instruments 57,729 107,803 165,531 46,511 80,033 126,545Derivative finan. instruments held for hedging 8,389 3,453 11,842 9,919 6,587 16,506Trading transactions 49,340 104,350 153,690 36,592 73,447 110,038

Custody and Pledged Securities 5,260,267 272,760 5,533,027 3,988,661 206,741 4,195,402Items held in Custody 4,687,814 25,187 4,713,001 3,601,644 22,053 3,623,697Pledged Items 542,181 240,384 782,566 364,904 178,057 542,961Acccepted independent guaran. and warran. 30,271 7,189 37,460 22,113 6,630 28,743

Total Off Balance Sheet Commitments 5,445,341 456,055 5,901,397 4,142,271 347,717 4,489,988

Income-Expenditure(USD Million)

Dec. 2009 Dec. 2008

Interest Income 56,216 55,283Interest on loans 35,179 34,113Interest received from reserve deposits 475 820Interest received from banks 885 1,633Interest received from money market transactions 489 517Interest received from marketable securities portfolio 18,920 17,904Other interest income 268 296

Interest Expenses 28,099 35,009Interest on deposits 22,956 28,549Interest on money market transactions 2,494 3,077Interest on funds borrowed 2,356 3,029Interest on securities issued 2 0Other interest expenses 291 355

Net Interest Income/Expenses 28,117 20,274Net Fees and Commissions Income/Expenses 6,241 5,552

Fees and commissions received 7,473 6,830Fees and commissions paid 1,232 1,278

Dividend Income 518 584Trading Profit/Loss (net) 1,118 -135

Profit/loss on trading account securities 1,780 974Profit/losses on derivative financial transactions -1,117 0Foreign exchange profit/loss 455 -1,109

Other Operating Income 2,723 2,746Total Operating Income/Expenses 38,718 29,021Provision for Loan Losses or other Receivables (-) 8,126 4,983

Specific provisions of banks loans and other receivables* 6,176 3,421General provision expenses* 481 716

Other Operating Expenses (-) 14,410 13,641Personnel Expenses* 6,560 6,066

Net Operating Profit/Loss 16,181 10,397Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 16,181 10,397Provisions for Taxes on Income from Continuing Operations (±) -3,181 -1,998Net Profit/Loss from Continuing Operations 13,001 8,399Net Profit/Loss Before Taxes from Terminated Operations 132 -2Provisions for Taxes on Income from Terminated Operations (±) -38 -2Net Profit/Loss from Terminated Operations 95 -5

Net Profit/Losses 13,096 8,394

* Used from information and disclosures related to income statement".

II-12

The Banking System in Turkey December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios

Shareholders’ Equity / (Amount subject to credit + market + operational risk) 20.9 18.1

Shareholders' Equity / Total Assets 13.3 11.7

(Shareholders' Equity - Permanent Assets) / Total Assets 9.8 8.3

Net On Balance Sheet Position / Total Shareholders' Equity -17.9 -7.4

Net On and Off Balance Sheet Position / Total Shareholders' Equity 0.3 1.0

Balance-Sheet Ratios

TC Assets / Total Assets 72.8 69.0

TC Liabilities / Total Liabilities 68.3 65.2

FC Assets / FC Liabilities 85.8 88.8

TC Deposits / Total Deposits 65.7 64.3

TC Loans / Total Loans and Receivables 72.2 70.5

Total Deposits / Total Assets 63.5 64.2

Funds Borrowed / Total Assets 8.8 11.1

Assets Quality

Financial Assets (net) / Total Assets 35.2 29.4

Total Loans and Receivables / Total Assets 47.7 52.0

Total Loans and Receivables / Total Deposits 75.1 80.9

Loans Under Follow-up (gross) / Total Loans and Receivables 5.4 3.6

Loans Under Follow-up (net) / Total Loans and Receivables 0.8 0.7

Specific Provisions / Loans Under Follow-up 84.5 81.4

Permanent Assets / Total Assets 3.5 3.5

Consumer Loans / Total Loans and Receivables 33.7 31.7

Liquidity

Liquid Assets / Total Assets 33.0 26.6

Liquid Assets / Short-term Liabilities 54.3 44.5

TC Liquid Assets / Total Assets 22.8 15.1

Profitability

Net Profit/Losses / Total Assets 2.4 1.8

Net Profit/Losses / Total Shareholders' Equity 18.3 15.4

Profit/Losses Before Taxes after Continuing Operations / Total Assets 3.0 2.2

Income-Expenditure Structure

Net Interest Income After Specific Provisions / Total Assets 4.1 3.6

Net Interest Income After Specific Provisions / Total Operating Income (Expenses) 56.7 58.1

Non-interest Income (net) / Total Assets 2.0 1.9

Other Operating Expenses / Total Assets 2.7 2.9

Personnel Expenses / Other Operating Expenses 45.5 44.5

Non-interest Income (net) / Other Operating Expenses 73.6 64.1

II-13

Deposit Banks

Assets(USD Million)


Cash and Balances with the Central Bank 19,652 13,518 33,169 6.4 21,941 14,618 36,559 8.1Fin.ass.where fair value cha. is refl.to I/S (Net) 5,709 991 6,700 1.3 3,429 1,258 4,687 1.0

Financial assets held for trading 4,257 989 5,246 1.0 3,279 1,257 4,536 1.0Public sector debt securities 3,082 501 3,584 0.7 1,890 373 2,263 0.5Securities representing a share in capital 22 0 22 0.0 0 0 0 0.0Derivative financial assets held for trading 1,143 482 1,625 0.3 1,379 856 2,234 0.5Other marketable securities 9 6 15 0.0 9 29 38 0.0





Loans 177,834 67,267 245,102 47.3 163,058 68,200 231,258 51.5Loans 175,796 67,205 243,000 46.8 161,454 68,196 229,651 51.2

Loans granted to the Banks risk group 1,254 1,461 2,715 0.5 711 1,744 2,455 0.5Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 174,542 65,744 240,286 46.3 160,743 66,452 227,195 50.6



Public sector debt securities 63,449 15,345 78,795 15.2 63,306 15,157 78,463 17.5Other marketable securities 7 992 999 0.2 6 89 95 0.0








Property and Equipment (Net) 6,584 8 6,592 1.3 6,168 6 6,174 1.4Intangible Assets (Net) 1,193 2 1,195 0.2 1,207 2 1,209 0.3

Goodwill 715 0 715 0.1 699 0 699 0.2Other 478 2 480 0.1 509 2 510 0.1

Real Estates for Investment Purpose (Net) 7 0 7 0.0 7 0 7 0.0Assets for Tax 1,292 0 1,292 0.2 838 0 838 0.2

Current assets for tax 51 0 51 0.0 68 0 68 0.0Deferred assets for tax 1,241 0 1,241 0.2 770 0 770 0.2

Prop.&Equ.for Sale p. and from Term.Op.(Net) 237 0 237 0.0 261 0 262 0.1Other Assets 3,546 1,050 4,597 0.9 3,068 1,127 4,195 0.9

Total Assets 378,167 140,566 518,733 100.0 309,303 139,466 448,769 100.0

II-14

Deposit Banks December 2009




Derivative Finan. Liabilities Held for Trading 1,037 580 1,617 0.3 1,159 724 1,884 0.4Funds Borrowed 7,932 33,537 41,469 8.0 8,298 38,366 46,664 10.4Money Market Takings 34,373 5,868 40,241 7.8 22,839 3,730 26,569 5.9




Miscellaneous Payables 7,882 945 8,827 1.7 6,397 972 7,368 1.6Other External Resources 3,068 978 4,046 0.8 2,899 1,768 4,667 1.0Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 29 35 64 0.0 28 114 143 0.0



Provisions 8,117 540 8,656 1.7 6,771 503 7,274 1.6General provisions 2,315 414 2,728 0.5 1,938 333 2,272 0.5Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 1,267 1 1,269 0.2 1,169 1 1,170 0.3Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 4,534 125 4,659 0.9 3,664 169 3,833 0.9

Liabilities for Tax 1,537 11 1,548 0.3 1,448 3 1,451 0.3Current liabilities for tax 1,473 11 1,485 0.3 1,417 3 1,420 0.3Deferred liabilities for tax 64 0 64 0.0 31 0 31 0.0



Share premium 2,102 0 2,102 0.4 2,054 0 2,054 0.5Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 3,171 493 3,664 0.7 -41 -4 -45 0.0Revaluation changes of property and equip. 493 0 493 0.1 459 0 459 0.1Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 56 0 56 0.0 53 0 53 0.0Hedging funds (active part) -428 -25 -453 -0.1 -193 -11 -204 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 5,156 0 5,156 1.0 5,010 0 5,010 1.1

Profit reserves 30,116 9 30,124 5.8 23,767 6 23,772 5.3Legal reserves 3,864 3 3,867 0.7 3,249 3 3,252 0.7Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 25,880 0 25,880 5.0 20,193 0 20,193 4.5Other profit reserves 372 6 378 0.1 325 3 328 0.1

Profit or loss 747 0 747 0.1 -3,706 0 -3,706 -0.8Prior years income/loss -11,685 0 -11,685 -2.3 -11,494 0 -11,494 -2.6Current year income/loss 12,432 0 12,432 2.4 7,788 0 7,788 1.7


II-15

Deposit Banks



Guarantees and Warranties 28,084 44,469 72,553 23,822 42,729 66,551Letters of guarantee 27,744 27,268 55,011 23,541 25,032 48,573Bank acceptances 3 1,967 1,970 1 2,086 2,088Letters of credit 11 13,341 13,352 1 13,818 13,820Prefinancing given as guarantee 0 15 15 0 12 12Endorsements 0 28 28 0 0 0Other guarantees and warrantees 326 1,851 2,177 279 1,780 2,058

Commitments 96,026 28,298 124,324 81,280 16,005 97,286Irrevocable commitments 89,183 24,827 114,010 65,219 12,620 77,839Revocable commitments 6,843 3,471 10,314 16,061 3,385 19,447


Custody and Pledged Securities 832,733 259,201 1,091,934 602,986 196,176 799,162Items held in Custody 266,242 24,934 291,176 221,047 21,844 242,891Pledged Items 536,814 227,310 764,124 360,367 167,930 528,297Acccepted independent guaran. and warran. 29,676 6,957 36,633 21,572 6,402 27,974

Total Off Balance Sheet Commitments 1,013,782 436,784 1,450,565 754,113 333,279 1,087,392


Dec. 2009 Dec. 2008

Interest Income 54,939 54,031Interest on loans 34,312 33,342Interest received from reserve deposits 473 814Interest received from banks 805 1,520Interest received from money market transactions 414 419Interest received from marketable securities portfolio 18,676 17,653Other interest income 259 282



Fees and commissions received 7,393 6,793Fees and commissions paid 1,220 1,271

Dividend Income 498 562Trading Profit/Loss (net) 1,072 -132

Profit/loss on trading account securities 1,769 1,021Profit/losses on derivative financial transactions -1,157 0Foreign exchange profit/loss 460 -1,153




Net Operating Profit/Loss 15,386 9,678Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 15,386 9,678Provisions for Taxes on Income from Continuing Operations (±) -3,049 -1,885Net Profit/Loss from Continuing Operations 12,337 7,793Net Profit/Loss Before Taxes from Terminated Operations 132 -2Provisions for Taxes on Income from Terminated Operations (±) -38 -2Net Profit/Loss from Terminated Operations 95 -5



II-16

Deposit Banks December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-17

State-owned Banks

Assets(USD Million)


Cash and Balances with the Central Bank 7,491 3,024 10,515 6.3 6,776 2,745 9,521 7.0Fin.ass.where fair value cha. is refl.to I/S (Net) 318 78 396 0.2 443 100 542 0.4

Financial assets held for trading 318 78 396 0.2 443 100 542 0.4Public sector debt securities 316 50 366 0.2 437 31 468 0.3Securities representing a share in capital 0 0 0 0.0 0 0 0 0.0Derivative financial assets held for trading 1 28 29 0.0 5 69 74 0.1Other marketable securities 1 0 1 0.0 1 0 1 0.0

Fin.assets clas. as fair value change is refl.to I/S 0 0 0 0.0 0 0 0 0.0Public sector debt securities 0 0 0 0.0 0 0 0 0.0Securities representing a share in capital 0 0 0 0.0 0 0 0 0.0Loans 0 0 0 0.0 0 0 0 0.0Other marketable securities 0 0 0 0.0 0 0 0 0.0

Banks 227 6,029 6,256 3.7 42 5,470 5,511 4.0Money Market Securities 2,286 0 2,286 1.4 2,104 0 2,104 1.5



Loans 55,137 14,624 69,761 41.5 44,946 12,338 57,284 42.0Loans 54,723 14,624 69,347 41.3 44,675 12,338 57,013 41.8

Loans granted to the Banks risk group 297 162 459 0.3 62 119 181 0.1Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 54,426 14,461 68,888 41.0 44,613 12,219 56,832 41.6






Subsidiaries (Net) 430 373 803 0.5 335 361 696 0.5Financial subsidiaries 330 373 703 0.4 235 361 596 0.4Non-financial subsidiaries 100 0 100 0.1 100 0 100 0.1





Property and Equipment (Net) 2,039 4 2,043 1.2 1,766 2 1,768 1.3Intangible Assets (Net) 47 1 49 0.0 51 2 53 0.0

Goodwill 0 0 0 0.0 0 0 0 0.0Other 47 1 49 0.0 51 2 53 0.0

Real Estates for Investment Purpose (Net) 0 0 0 0.0 0 0 0 0.0Assets for Tax 426 0 426 0.3 218 0 218 0.2

Current assets for tax 2 0 2 0.0 0 0 0 0.0Deferred assets for tax 425 0 425 0.3 217 0 217 0.2

Prop.&Equ.for Sale p. and from Term.Op.(Net) 62 0 62 0.0 88 0 88 0.1Other Assets 791 185 976 0.6 584 291 875 0.6

Total Assets 132,121 35,953 168,074 100.0 104,512 31,972 136,484 100.0

II-18

State-owned Banks December 2009



Deposits 94,585 31,234 125,819 74.9 78,705 27,272 105,976 77.6Deposits held by the Banks risk group 1,117 102 1,219 0.7 976 116 1,092 0.8Other 93,467 31,133 124,600 74.1 77,729 27,155 104,884 76.8

Derivative Finan. Liabilities Held for Trading 6 80 87 0.1 4 31 35 0.0Funds Borrowed 175 4,140 4,316 2.6 198 4,613 4,810 3.5Money Market Takings 12,774 1,379 14,153 8.4 6,564 891 7,455 5.5

Interbank money market takings 0 0 0 0.0 0 0 0 0.0Istanbul Stock Exc. money market takings 0 0 0 0.0 0 0 0 0.0Funds provided under repurchase agreements 12,774 1,379 14,153 8.4 6,564 891 7,455 5.5



Miscellaneous Payables 1,150 143 1,293 0.8 846 153 998 0.7Other External Resources 492 298 790 0.5 422 353 775 0.6Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 0 0 0 0.0 1 11 12 0.0



Provisions 2,153 28 2,180 1.3 1,759 22 1,782 1.3General provisions 688 3 691 0.4 478 3 481 0.4Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 727 0 727 0.4 659 0 659 0.5Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 738 25 763 0.5 623 19 642 0.5

Liabilities for Tax 514 3 517 0.3 477 2 479 0.4Current liabilities for tax 514 3 517 0.3 477 2 479 0.4Deferred liabilities for tax 0 0 0 0.0 0 0 0 0.0

Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 0 0 0.0 0 0 0 0.0Shareholders' Equity 15,644 153 15,797 9.4 11,400 -18 11,382 8.3


Share premium 487 0 487 0.3 476 0 476 0.3Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 637 153 791 0.5 149 -18 131 0.1Revaluation changes of property and equip. 1 0 1 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 53 0 53 0.0 51 0 51 0.0Hedging funds (active part) -21 0 -21 0.0 -22 0 -22 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 1,186 0 1,186 0.7 1,160 0 1,160 0.8

Profit reserves 4,692 0 4,692 2.8 2,797 0 2,797 2.0Legal reserves 1,761 0 1,761 1.0 1,500 0 1,500 1.1Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 2,556 0 2,556 1.5 972 0 972 0.7Other profit reserves 375 0 375 0.2 324 0 324 0.2

Profit or loss 4,406 0 4,406 2.6 2,683 0 2,683 2.0Prior years income/loss 107 0 107 0.1 116 0 116 0.1Current year income/loss 4,299 0 4,299 2.6 2,567 0 2,567 1.9


II-19

State-owned Banks



Guarantees and Warranties 6,644 9,441 16,085 4,794 7,719 12,513Letters of guarantee 6,611 5,284 11,894 4,780 4,376 9,156Bank acceptances 0 409 409 0 399 399Letters of credit 3 3,655 3,657 0 2,930 2,930Prefinancing given as guarantee 0 12 12 0 9 9Endorsements 0 0 0 0 0 0Other guarantees and warrantees 30 81 111 14 5 19

Commitments 18,126 3,864 21,990 12,198 3,216 15,415Irrevocable commitments 11,799 1,049 12,848 8,818 737 9,555Revocable commitments 6,327 2,815 9,142 3,380 2,479 5,859

Derivative Financial Instruments 1,707 5,586 7,293 813 2,495 3,308Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 1,707 5,586 7,293 813 2,495 3,308

Custody and Pledged Securities 291,906 88,815 380,722 186,201 53,804 240,005Items held in Custody 53,881 4,349 58,230 41,264 3,037 44,302Pledged Items 238,025 84,449 322,475 144,937 50,764 195,700Acccepted independent guaran. and warran. 0 17 17 0 3 3

Total Off Balance Sheet Commitments 318,382 107,706 426,089 204,006 67,234 271,240


Dec. 2009 Dec. 2008

Interest Income 18,438 17,463Interest on loans 9,645 8,303Interest received from reserve deposits 77 147Interest received from banks 305 539Interest received from money market transactions 70 127Interest received from marketable securities portfolio 8,312 8,321Other interest income 29 26

Interest Expenses 10,198 12,072Interest on deposits 9,032 11,136Interest on money market transactions 150 202Interest on funds borrowed 916 610Interest on securities issued 0 0Other interest expenses 100 124

Net Interest Income/Expenses 8,240 5,390Net Fees and Commissions Income/Expenses 917 926

Fees and commissions received 1,121 1,137Fees and commissions paid 204 212

Dividend Income 42 60Trading Profit/Loss (net) 172 -103

Profit/loss on trading account securities 185 237Profit/losses on derivative financial transactions -55 0Foreign exchange profit/loss 41 -340

Other Operating Income 620 666Total Operating Income/Expenses 9,989 6,939Provision for Loan Losses or other Receivables (-) 1,519 1,056

Specific provisions of banks loans and other receivables* 1,024 577General provision expenses* 183 180


Net Operating Profit/Loss 5,363 3,225Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 5,363 3,225Provisions for Taxes on Income from Continuing Operations (±) -1,064 -658Net Profit/Loss from Continuing Operations 4,299 2,567Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



II-20

State-owned Banks December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-21


Assets(USD Million)


Cash and Balances with the Central Bank 9,946 8,188 18,134 6.5 12,584 9,034 21,618 8.9Fin.ass.where fair value cha. is refl.to I/S (Net) 2,033 459 2,492 0.9 1,035 501 1,536 0.6

Financial assets held for trading 1,690 459 2,149 0.8 1,035 501 1,536 0.6Public sector debt securities 884 162 1,046 0.4 352 167 519 0.2Securities representing a share in capital 1 0 1 0.0 0 0 0 0.0Derivative financial assets held for trading 798 297 1,095 0.4 677 310 988 0.4Other marketable securities 6 0 6 0.0 6 23 29 0.0





Loans 86,787 45,335 132,123 47.6 84,041 47,386 131,427 54.1Loans 85,948 45,331 131,279 47.2 83,141 47,384 130,525 53.7

Loans granted to the Banks risk group 845 1,178 2,023 0.7 584 1,504 2,088 0.9Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 85,103 44,153 129,256 46.5 82,558 45,879 128,437 52.9












Goodwill 659 0 659 0.2 644 0 644 0.3Other 244 0 244 0.1 205 0 205 0.1



Prop.&Equ.for Sale p. and from Term.Op.(Net) 160 0 160 0.1 157 0 157 0.1Other Assets 1,905 655 2,560 0.9 1,780 520 2,300 0.9

Total Assets 188,116 89,730 277,846 100.0 151,937 90,936 242,872 100.0

II-22

Privately-owned Banks December 2009




Derivative Finan. Liabilities Held for Trading 711 321 1,032 0.4 692 316 1,009 0.4Funds Borrowed 5,040 21,324 26,364 9.5 5,371 23,736 29,106 12.0Money Market Takings 20,844 4,487 25,330 9.1 15,218 2,505 17,723 7.3



Funds 13 0 13 0.0 19 0 19 0.0Borrower funds 0 0 0 0.0 0 0 0 0.0Others 13 0 13 0.0 19 0 19 0.0

Miscellaneous Payables 5,598 394 5,992 2.2 4,564 313 4,877 2.0Other External Resources 1,789 596 2,386 0.9 1,609 1,336 2,945 1.2Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 9 22 31 0.0 15 65 80 0.0



Provisions 4,971 414 5,385 1.9 4,124 411 4,535 1.9General provisions 1,241 366 1,607 0.6 1,093 315 1,408 0.6Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 405 0 405 0.1 389 0 389 0.2Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 3,326 48 3,373 1.2 2,642 96 2,739 1.1


Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 1 1 0.0 0 1 1 0.0Subordinated Loans 0 2,430 2,430 0.9 0 2,319 2,319 1.0Shareholders' Equity 35,971 266 36,237 13.0 26,845 32 26,876 11.1

Paid-in capital 11,777 0 11,777 4.2 11,232 0 11,232 4.6Supplementary capital 7,293 257 7,551 2.7 4,792 26 4,818 2.0

Share premium 1,549 0 1,549 0.6 1,514 0 1,514 0.6Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 2,304 279 2,583 0.9 -202 33 -169 -0.1Revaluation changes of property and equip. 474 0 474 0.2 448 0 448 0.2Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 3 0 3 0.0 2 0 2 0.0Hedging funds (active part) -263 -21 -284 -0.1 -93 -7 -100 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 3,226 0 3,226 1.2 3,124 0 3,124 1.3

Profit reserves 10,211 9 10,219 3.7 6,582 6 6,588 2.7Legal reserves 1,758 3 1,761 0.6 1,458 3 1,461 0.6Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 8,458 0 8,458 3.0 5,128 0 5,128 2.1Other profit reserves -6 6 0 0.0 -4 3 -1 0.0

Profit or loss 6,690 0 6,690 2.4 4,238 0 4,238 1.7Prior years income/loss -17 0 -17 0.0 -21 0 -21 0.0Current year income/loss 6,707 0 6,707 2.4 4,259 0 4,259 1.8


II-23




Guarantees and Warranties 16,256 24,685 40,941 14,518 23,913 38,431Letters of guarantee 15,964 16,327 32,291 14,264 14,832 29,096Bank acceptances 3 463 466 1 428 428Letters of credit 8 7,104 7,112 1 7,939 7,940Prefinancing given as guarantee 0 2 2 0 4 4Endorsements 0 28 28 0 0 0Other guarantees and warrantees 282 760 1,041 253 711 963

Commitments 54,390 15,732 70,122 40,436 9,269 49,705Irrevocable commitments 54,386 15,732 70,118 40,431 9,268 49,700Revocable commitments 4 0 5 5 0 5


Custody and Pledged Securities 394,509 135,299 529,808 317,653 111,967 429,620Items held in Custody 170,053 17,326 187,378 142,103 16,144 158,247Pledged Items 222,382 117,495 339,876 173,465 95,333 268,799Acccepted independent guaran. and warran. 2,075 479 2,553 2,084 490 2,574



Dec. 2009 Dec. 2008





Dividend Income 407 432Trading Profit/Loss (net) 1,176 387

Profit/loss on trading account securities 872 150Profit/losses on derivative financial transactions 343 0Foreign exchange profit/loss -39 237




Net Operating Profit/Loss 8,361 5,216Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 8,361 5,216Provisions for Taxes on Income from Continuing Operations (±) -1,623 -958Net Profit/Loss from Continuing Operations 6,738 4,259Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) -31 0Net Profit/Loss from Terminated Operations -31 0



II-24

Privately-owned Banks December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios




Net On Balance Sheet Position / Total Shareholders' Equity -8.9 15.9










Assets Quality









Liquidity




Profitability











II-25


Assets(USD Million)


Cash and Balances with the Central Bank 0 0 0 0.0 0 0 0 0.0Fin.ass.where fair value cha. is refl.to I/S (Net) 248 0 248 45.6 74 0 74 13.5



Banks 144 67 211 39.0 324 65 389 71.0Money Market Securities 5 0 5 0.9 3 0 3 0.5

Interbank money market placements 5 0 5 0.9 3 0 3 0.5Istanbul Stock Exc. money market placements 0 0 0 0.0 0 0 0 0.0Receiv. from reverse repurchase agreements 0 0 0 0.0 0 0 0 0.0

Financial Assets Available for Sale (Net) 0 0 0 0.0 0 0 0 0.0Securities representing a share in capital 0 0 0 0.0 0 0 0 0.0Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other marketable securities 0 0 0 0.0 0 0 0 0.0

Loans 8 0 8 1.5 10 1 10 1.9Loans 1 0 1 0.1 2 1 3 0.5

Loans granted to the Banks risk group 0 0 0 0.0 0 0 0 0.0Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 1 0 1 0.1 2 1 3 0.5

Loans under follow-up 35 6 41 7.6 45 4 50 9.0Specific provisions (-) 28 6 34 6.2 38 4 42 7.7

Factoring Receivables 0 0 0 0.0 0 0 0 0.0Investments held to Maturity (Net) 0 0 0 0.0 0 0 0 0.0

Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other marketable securities 0 0 0 0.0 0 0 0 0.0








Property and Equipment (Net) 37 0 37 6.8 39 0 39 7.1Intangible Assets (Net) 0 0 0 0.0 0 0 0 0.0

Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 471 72 542 100.0 476 73 548 100.0

II-26

Banks Under the Deposit Insurance Fund December 2009



Deposits 8 11 19 3.5 9 15 23 4.3Deposits held by the Banks risk group 0 0 0 0.0 0 0 0 0.0Other 8 11 19 3.5 9 15 23 4.3

Derivative Finan. Liabilities Held for Trading 0 0 0 0.0 0 0 0 0.0Funds Borrowed 0 0 0 0.0 0 0 0 0.0Money Market Takings 2 0 2 0.4 2 0 2 0.4

Interbank money market takings 0 0 0 0.0 0 0 0 0.0Istanbul Stock Exc. money market takings 0 0 0 0.0 0 0 0 0.0Funds provided under repurchase agreements 2 0 2 0.4 2 0 2 0.4



Miscellaneous Payables 8 28 36 6.6 6 27 32 5.9Other External Resources 3 0 3 0.5 2 0 3 0.5Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 0 0 0 0.0 0 0 0 0.0



Provisions 23 32 55 10.2 17 32 49 8.9General provisions 3 0 3 0.6 3 0 3 0.6Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 2 0 2 0.5 2 0 2 0.3Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 17 32 49 9.1 12 31 44 8.0


Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 0 0 0.0 0 0 0 0.0Shareholders' Equity 426 0 426 78.4 433 0 433 79.0

Paid-in capital 310 0 310 57.1 303 0 303 55.2Supplementary capital 0 0 0 0.0 0 0 0 0.0

Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 0 0 0 0.0 0 0 0 0.0Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 0 0 0 0.0 0 0 0 0.0

Profit reserves 11,926 0 11,926 2,198.4 11,708 0 11,708 2,135.4Legal reserves 18 0 18 3.3 17 0 17 3.2Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 11,908 0 11,908 2,195.1 11,691 0 11,691 2,132.2Other profit reserves 0 0 0 0.0 0 0 0 0.0

Profit or loss -11,810 0 -11,810 -2,177.1 -11,578 0 -11,578 -2,111.7Prior years income/loss -11,847 0 -11,847 -2,183.8 -11,631 0 -11,631 -2,121.3Current year income/loss 37 0 37 6.8 53 0 53 9.6

Total Liabilities 471 72 542 100.0 475 73 548 100.0

II-27




Guarantees and Warranties 50 72 122 54 74 128Letters of guarantee 50 72 122 54 74 128Bank acceptances 0 0 0 0 0 0Letters of credit 0 0 0 0 0 0Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 0 0 0 0 0

Commitments 2,087 0 2,087 0 0 0Irrevocable commitments 2,087 0 2,087 0 0 0Revocable commitments 0 0 0 0 0 0

Derivative Financial Instruments 0 0 0 0 0 0Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 0 0 0 0 0 0

Custody and Pledged Securities 602 93 695 621 98 719Items held in Custody 8 2 10 7 2 9Pledged Items 594 92 685 614 96 710Acccepted independent guaran. and warran. 0 0 0 0 0 0

Total Off Balance Sheet Commitments 2,739 165 2,905 675 171 847


Dec. 2009 Dec. 2008

Interest Income 26 79Interest on loans 1 9Interest received from reserve deposits 0 0Interest received from banks 23 68Interest received from money market transactions 0 1Interest received from marketable securities portfolio 0 1Other interest income 0 1

Interest Expenses 0 0Interest on deposits 0 0Interest on money market transactions 0 0Interest on funds borrowed 0 0Interest on securities issued 0 0Other interest expenses 0 0

Net Interest Income/Expenses 25 78Net Fees and Commissions Income/Expenses 2 2

Fees and commissions received 2 2Fees and commissions paid 0 0

Dividend Income 0 0Trading Profit/Loss (net) 45 12

Profit/loss on trading account securities 45 6Profit/losses on derivative financial transactions 0 0Foreign exchange profit/loss 0 6

Other Operating Income 9 7Total Operating Income/Expenses 82 100Provision for Loan Losses or other Receivables (-) 12 9

Specific provisions of banks loans and other receivables* 3 2General provision expenses* 2 0

Other Operating Expenses (-) 22 22Personnel Expenses* 11 11

Net Operating Profit/Loss 48 68Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 48 68Provisions for Taxes on Income from Continuing Operations (±) -11 -15Net Profit/Loss from Continuing Operations 37 53Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0

Net Profit/Losses 37 53


II-28

Banks Under the Deposit Insurance Fund December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios





Net On and Off Balance Sheet Position / Total Shareholders' Equity -0.1 0.3









Assets Quality









Liquidity




Profitability











II-29

Foreign Banks

Assets(USD Million)


Cash and Balances with the Central Bank 2,214 2,306 4,520 6.3 2,581 2,839 5,420 7.9Fin.ass.where fair value cha. is refl.to I/S (Net) 3,111 454 3,565 4.9 1,877 657 2,534 3.7

Financial assets held for trading 2,002 452 2,453 3.4 1,727 656 2,383 3.5Public sector debt securities 1,634 290 1,924 2.7 1,027 175 1,202 1.7Securities representing a share in capital 21 0 21 0.0 0 0 0 0.0Derivative financial assets held for trading 344 157 501 0.7 696 476 1,173 1.7Other marketable securities 2 5 7 0.0 3 6 8 0.0




Financial Assets Available for Sale (Net) 9,389 1,005 10,395 14.4 5,742 963 6,705 9.7Securities representing a share in capital 21 1 22 0.0 9 2 11 0.0Public sector debt securities 9,315 829 10,144 14.0 5,646 957 6,603 9.6Other marketable securities 54 175 228 0.3 87 4 91 0.1

Loans 35,902 7,308 43,210 59.8 34,061 8,475 42,536 61.8Loans 35,123 7,250 42,374 58.6 33,636 8,474 42,110 61.1



Factoring Receivables 110 23 133 0.2 40 9 49 0.1Investments held to Maturity (Net) 1,308 249 1,557 2.2 2,936 240 3,176 4.6

Public sector debt securities 1,307 175 1,483 2.1 2,936 183 3,119 4.5Other marketable securities 0 74 74 0.1 0 57 58 0.1









Goodwill 56 0 56 0.1 55 0 55 0.1Other 187 0 187 0.3 252 0 252 0.4



Prop.&Equ.for Sale p. and from Term.Op.(Net) 15 0 15 0.0 16 0 17 0.0Other Assets 821 206 1,028 1.4 678 310 989 1.4

Total Assets 57,459 14,811 72,270 100.0 52,378 16,486 68,864 100.0

II-30

Foreign Banks December 2009



Deposits 26,857 17,095 43,952 60.8 23,104 16,477 39,581 57.5Deposits held by the Banks risk group 831 1,351 2,182 3.0 991 1,180 2,171 3.2Other 26,026 15,744 41,769 57.8 22,113 15,297 37,410 54.3

Derivative Finan. Liabilities Held for Trading 320 179 499 0.7 462 377 840 1.2Funds Borrowed 2,717 8,073 10,790 14.9 2,730 10,017 12,747 18.5Money Market Takings 753 2 755 1.0 1,056 334 1,389 2.0

Interbank money market takings 0 2 2 0.0 0 101 101 0.1Istanbul Stock Exc. money market takings 1 0 1 0.0 38 0 38 0.1Funds provided under repurchase agreements 752 0 752 1.0 1,018 233 1,251 1.8



Miscellaneous Payables 1,126 381 1,507 2.1 981 479 1,461 2.1Other External Resources 784 83 868 1.2 865 79 944 1.4Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 20 13 34 0.0 12 38 51 0.1



Provisions 970 65 1,036 1.4 871 38 909 1.3General provisions 383 45 428 0.6 365 15 380 0.6Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 133 1 134 0.2 119 1 120 0.2Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 454 19 474 0.7 387 22 409 0.6



Paid-in capital 4,911 0 4,911 6.8 4,315 0 4,315 6.3Supplementary capital 914 57 971 1.3 739 -23 715 1.0

Share premium 66 0 66 0.1 65 0 65 0.1Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 229 61 290 0.4 12 -19 -6 0.0Revaluation changes of property and equip. 19 0 19 0.0 11 0 11 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) -145 -4 -149 -0.2 -78 -4 -82 -0.1Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 744 0 744 1.0 727 0 727 1.1

Profit reserves 3,288 0 3,288 4.5 2,679 0 2,679 3.9Legal reserves 327 0 327 0.5 273 0 273 0.4Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 2,958 0 2,958 4.1 2,402 0 2,402 3.5Other profit reserves 3 0 3 0.0 4 0 4 0.0

Profit or loss 1,460 0 1,460 2.0 951 0 951 1.4Prior years income/loss 71 0 71 0.1 41 0 41 0.1Current year income/loss 1,390 0 1,390 1.9 910 0 910 1.3


II-31

Foreign Banks



Guarantees and Warranties 5,134 10,271 15,406 4,456 11,023 15,479Letters of guarantee 5,120 5,585 10,704 4,443 5,750 10,193Bank acceptances 0 1,094 1,094 1 1,259 1,260Letters of credit 0 2,582 2,582 0 2,949 2,950Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 14 1,011 1,025 12 1,064 1,076

Commitments 21,423 8,701 30,125 28,646 3,520 32,167Irrevocable commitments 20,912 8,046 28,958 15,970 2,614 18,584Revocable commitments 512 655 1,167 12,676 906 13,582


Custody and Pledged Securities 145,716 34,993 180,709 98,511 30,307 128,818Items held in Custody 42,301 3,257 45,558 37,672 2,661 40,334Pledged Items 75,814 25,274 101,088 41,351 21,737 63,088Acccepted independent guaran. and warran. 27,602 6,461 34,063 19,488 5,910 25,397



Dec. 2009 Dec. 2008





Dividend Income 50 70Trading Profit/Loss (net) -320 -427

Profit/loss on trading account securities 667 628Profit/losses on derivative financial transactions -1,445 0Foreign exchange profit/loss 457 -1,055

Other Operating Income 436 379Total Operating Income/Expenses 6,617 5,272Provision for Loan Losses or other Receivables (-) 1,649 986

Specific provisions of banks loans and other receivables* 1,425 725General provision expenses* 51 98


Net Operating Profit/Loss 1,614 1,169Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 1,614 1,169Provisions for Taxes on Income from Continuing Operations (±) -350 -254Net Profit/Loss from Continuing Operations 1,264 915Net Profit/Loss Before Taxes from Terminated Operations 132 -2Provisions for Taxes on Income from Terminated Operations (±) -7 -2Net Profit/Loss from Terminated Operations 126 -5

Net Profit/Losses 1,390 910


II-32

Foreign Banks December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios





Net On and Off Balance Sheet Position / Total Shareholders' Equity -0.9 -1.5









Assets Quality









Liquidity




Profitability











II-33


Assets(USD Million)





Banks 1,473 601 2,074 11.4 1,226 266 1,492 9.9Money Market Securities 1,704 0 1,704 9.4 1,155 5 1,160 7.7


Financial Assets Available for Sale (Net) 1,250 349 1,598 8.8 946 294 1,240 8.2Securities representing a share in capital 32 8 41 0.2 15 8 23 0.2Public sector debt securities 1,200 235 1,436 7.9 913 247 1,160 7.7Other marketable securities 17 105 122 0.7 18 39 57 0.4

Loans 7,004 4,072 11,076 61.0 6,802 3,037 9,839 65.3Loans 6,949 4,072 11,021 60.7 6,791 3,037 9,828 65.2













Goodwill 0 0 0 0.0 0 0 0 0.0Other 10 0 10 0.1 5 0 5 0.0




Total Assets 12,765 5,403 18,168 100.0 10,974 4,096 15,070 100.0

II-34

Development and Investment Banks December 2009




Derivative Finan. Liabilities Held for Trading 14 7 22 0.1 23 14 37 0.2Funds Borrowed 86 5,481 5,567 30.6 168 4,562 4,731 31.4Money Market Takings 935 31 966 5.3 523 37 560 3.7



Funds 961 161 1,122 6.2 889 78 967 6.4Borrower funds 51 161 211 1.2 24 78 102 0.7Others 910 0 910 5.0 865 0 865 5.7








Share premium 15 0 15 0.1 14 0 14 0.1Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 38 10 47 0.3 -23 -10 -33 -0.2Revaluation changes of property and equip. 22 0 22 0.1 21 0 21 0.1Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 -12 -12 -0.1Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 1,276 0 1,276 7.0 1,383 0 1,383 9.2

Profit reserves 989 0 989 5.4 771 0 771 5.1Legal reserves 388 0 388 2.1 329 0 329 2.2Status reserves 19 0 19 0.1 15 0 15 0.1Extraordinary reserves 563 0 563 3.1 409 0 409 2.7Other profit reserves 19 0 19 0.1 19 0 19 0.1

Profit or loss 583 0 583 3.2 529 0 529 3.5Prior years income/loss -81 0 -81 -0.4 -77 0 -77 -0.5Current year income/loss 664 0 664 3.7 606 0 606 4.0


II-35




Guarantees and Warranties 2,620 1,732 4,353 1,701 1,387 3,088Letters of guarantee 1,447 660 2,107 911 615 1,526Bank acceptances 0 15 15 0 18 18Letters of credit 0 282 282 0 416 416Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 324 324 0 0 0Other guarantees and warrantees 1,173 452 1,625 790 338 1,128

Commitments 615 994 1,609 296 821 1,117Irrevocable commitments 472 357 829 26 451 478Revocable commitments 143 637 780 270 370 639

Derivative Financial Instruments 790 2,987 3,777 487 1,664 2,151Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 790 2,987 3,777 487 1,664 2,151

Custody and Pledged Securities 4,427,534 13,559 4,441,093 3,385,675 10,565 3,396,240Items held in Custody 4,421,572 253 4,421,825 3,380,597 209 3,380,806Pledged Items 5,367 13,075 18,442 4,537 10,128 14,665Acccepted independent guaran. and warran. 595 232 826 541 228 769

Total Off Balance Sheet Commitments 4,431,560 19,271 4,450,831 3,388,158 14,438 3,402,596


Dec. 2009 Dec. 2008

Interest Income 1,277 1,252Interest on loans 867 772Interest received from reserve deposits 2 6Interest received from banks 80 113Interest received from money market transactions 76 98Interest received from marketable securities portfolio 244 250Other interest income 8 14





Profit/loss on trading account securities 11 -47Profit/losses on derivative financial transactions 40 0Foreign exchange profit/loss -5 44

Other Operating Income 110 91Total Operating Income/Expenses 1,244 1,131Provision for Loan Losses or other Receivables (-) 101 94






II-36

Development and Investment Banks December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios




Net On Balance Sheet Position / Total Shareholders' Equity 4.4 1.3






TC Deposits / Total Deposits - -




Assets Quality



Total Loans and Receivables / Total Deposits - -






Liquidity




Profitability











II-37

II-39

Balance Sheets of the Banks

II-41

Deposit Banks

State-owned BanksPrivately-owned BanksBanks Under the Deposit Insurance Fund

Foreign Banks

II-43

State-owned Banks

II-44

Türkiye Cumhuriyeti Ziraat Bankas A. .

Assets(USD Million)





Banks 5 3,646 3,651 4.4 6 2,432 2,438 3.6Money Market Securities 0 0 0 0.0 0 0 0 0.0


Financial Assets Available for Sale (Net) 14,042 3,204 17,246 20.6 2,609 3,352 5,961 8.7Securities representing a share in capital 16 0 16 0.0 14 0 14 0.0Public sector debt securities 14,003 2,156 16,159 19.3 2,390 2,354 4,744 6.9Other marketable securities 23 1,047 1,070 1.3 205 998 1,202 1.8

Loans 23,309 1,383 24,692 29.5 19,444 819 20,263 29.5Loans 23,193 1,383 24,576 29.4 19,369 819 20,188 29.4

Loans granted to the Banks risk group 0 24 24 0.0 12 27 40 0.1Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 23,193 1,360 24,553 29.3 19,357 792 20,148 29.4












Goodwill 0 0 0 0.0 0 0 0 0.0Other 11 1 12 0.0 6 2 7 0.0




Total Assets 70,729 12,999 83,728 100.0 57,477 11,134 68,611 100.0

II-45

Türkiye Cumhuriyeti Ziraat Bankas A. . December 2009



Deposits 53,470 12,777 66,247 79.1 44,236 10,885 55,121 80.3Deposits held by the Banks risk group 52 16 68 0.1 36 32 68 0.1Other 53,418 12,761 66,179 79.0 44,200 10,853 55,053 80.2

Derivative Finan. Liabilities Held for Trading 0 0 0 0.0 1 2 3 0.0Funds Borrowed 10 4 14 0.0 16 3 19 0.0Money Market Takings 6,148 0 6,148 7.3 4,776 0 4,776 7.0

Interbank money market takings 0 0 0 0.0 0 0 0 0.0Istanbul Stock Exc. money market takings 0 0 0 0.0 0 0 0 0.0Funds provided under repurchase agreements 6,148 0 6,148 7.3 4,776 0 4,776 7.0






Provisions 1,142 3 1,145 1.4 938 1 939 1.4General provisions 288 0 288 0.3 162 0 162 0.2Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 365 0 365 0.4 333 0 333 0.5Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 489 3 492 0.6 443 0 444 0.6




Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 311 19 330 0.4 74 -25 50 0.1Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 9 0 9 0.0 8 0 8 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 365 0 365 0.4 358 0 358 0.5

Profit reserves 2,109 0 2,109 2.5 1,271 0 1,271 1.9Legal reserves 1,182 0 1,182 1.4 1,031 0 1,031 1.5Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 722 0 722 0.9 59 0 59 0.1Other profit reserves 204 0 204 0.2 181 0 181 0.3



II-46

Türkiye Cumhuriyeti Ziraat Bankas A. .



Guarantees and Warranties 1,253 2,454 3,707 855 1,966 2,820Letters of guarantee 1,253 1,981 3,234 855 1,490 2,344Bank acceptances 0 23 23 0 11 11Letters of credit 0 451 451 0 465 465Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 0 0 0 0 0

Commitments 9,510 3,147 12,657 5,951 2,680 8,632Irrevocable commitments 3,190 332 3,522 2,578 202 2,780Revocable commitments 6,319 2,815 9,135 3,373 2,479 5,852


Custody and Pledged Securities 64,181 1,380 65,561 50,272 1,259 51,531Items held in Custody 5,452 435 5,887 5,212 573 5,785Pledged Items 58,729 928 59,657 45,061 683 45,744Acccepted independent guaran. and warran. 0 17 17 0 3 3



Dec. 2009 Dec. 2008






Profit/loss on trading account securities 11 -31Profit/losses on derivative financial transactions 1 0Foreign exchange profit/loss 30 -4



Other Operating Expenses (-) 1,274 1,133Personnel Expenses* 703 601

Net Operating Profit/Loss 2,970 1,784Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 2,970 1,784Provisions for Taxes on Income from Continuing Operations (±) -609 -382Net Profit/Loss from Continuing Operations 2,361 1,402Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Türkiye Cumhuriyeti Ziraat Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-47

II-48

Türkiye Halk Bankas A. .

Assets(USD Million)


Cash and Balances with the Central Bank 1,423 873 2,297 5.6 1,113 864 1,977 5.9Fin.ass.where fair value cha. is refl.to I/S (Net) 18 19 38 0.1 17 59 75 0.2



Banks 57 707 764 1.9 34 1,359 1,393 4.1Money Market Securities 0 0 0 0.0 0 0 0 0.0


Financial Assets Available for Sale (Net) 2,307 893 3,200 7.8 1,039 512 1,551 4.6Securities representing a share in capital 3 5 8 0.0 3 5 7 0.0Public sector debt securities 2,304 888 3,193 7.8 1,036 507 1,543 4.6Other marketable securities 0 0 0 0.0 0 0 0 0.0

Loans 15,852 5,972 21,823 53.5 12,680 4,297 16,977 50.6Loans 15,644 5,972 21,615 53.0 12,540 4,297 16,837 50.1


Loans under follow-up 1,121 0 1,121 2.8 822 0 822 2.4Specific provisions (-) 913 0 913 2.2 682 0 682 2.0











Goodwill 0 0 0 0.0 0 0 0 0.0Other 7 0 7 0.0 25 0 25 0.1




Total Assets 30,370 10,409 40,779 100.0 24,840 8,736 33,576 100.0

II-49

Türkiye Halk Bankas A. . December 2009




Derivative Finan. Liabilities Held for Trading 0 60 60 0.1 0 15 15 0.0Funds Borrowed 136 1,230 1,366 3.3 133 867 1,000 3.0Money Market Takings 3,506 368 3,874 9.5 1,116 455 1,571 4.7









Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 0 0 0.0 0 0 0 0.0Shareholders' Equity 3,842 31 3,872 9.5 2,804 15 2,818 8.4


Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 50 31 81 0.2 -5 15 10 0.0Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) -21 0 -21 -0.1 -22 0 -22 -0.1Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 821 0 821 2.0 802 0 802 2.4

Profit reserves 1,055 0 1,055 2.6 526 0 526 1.6Legal reserves 341 0 341 0.8 286 0 286 0.9Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 682 0 682 1.7 219 0 219 0.7Other profit reserves 32 0 32 0.1 22 0 22 0.1



II-50

Türkiye Halk Bankas A. .




Commitments 3,354 557 3,912 2,265 392 2,657Irrevocable commitments 3,352 557 3,909 2,263 392 2,655Revocable commitments 2 0 2 2 0 2

Derivative Financial Instruments 885 4,277 5,162 660 827 1,487Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 885 4,277 5,162 660 827 1,487




Dec. 2009 Dec. 2008






Profit/loss on trading account securities 91 235Profit/losses on derivative financial transactions -51 0Foreign exchange profit/loss -29 -362




Net Operating Profit/Loss 1,356 832Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 1,356 832Provisions for Taxes on Income from Continuing Operations (±) -260 -163Net Profit/Loss from Continuing Operations 1,097 669Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Türkiye Halk Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-51

II-52

Türkiye Vakıflar Bankası T.A.O.

Assets(USD Million)


Cash and Balances with the Central Bank 1,114 937 2,050 4.7 543 840 1,383 4.0Fin.ass.where fair value cha. is refl.to I/S (Net) 0 26 26 0.1 5 26 31 0.1





Financial Assets Available for Sale (Net) 8,575 1,488 10,062 23.1 4,204 1,041 5,245 15.3Securities representing a share in capital 0 7 7 0.0 6 7 13 0.0Public sector debt securities 8,575 1,463 10,037 23.0 4,198 1,029 5,227 15.2Other marketable securities 0 18 18 0.0 0 5 5 0.0

Loans 15,977 7,269 23,245 53.4 12,822 7,222 20,044 58.4Loans 15,886 7,269 23,155 53.1 12,766 7,222 19,988 58.3


Loans under follow-up 1,425 0 1,425 3.3 957 0 957 2.8Specific provisions (-) 1,335 0 1,335 3.1 901 0 901 2.6

Factoring Receivables 0 0 0 0.0 0 0 0 0.0Investments held to Maturity (Net) 1,396 957 2,352 5.4 1,259 1,022 2,281 6.7










Goodwill 0 0 0 0.0 0 0 0 0.0Other 29 0 29 0.1 20 0 20 0.1




Total Assets 31,022 12,545 43,567 100.0 22,194 12,103 34,297 100.0

II-53

Türkiye Vakıflar Bankası T.A.O. December 2009



Deposits 21,328 8,694 30,022 68.9 16,704 7,688 24,392 71.1Deposits held by the Banks risk group 998 75 1,074 2.5 871 81 953 2.8Other 20,330 8,619 28,948 66.4 15,833 7,607 23,440 68.3

Derivative Finan. Liabilities Held for Trading 6 20 27 0.1 4 14 18 0.1Funds Borrowed 29 2,906 2,936 6.7 49 3,743 3,792 11.1Money Market Takings 3,120 1,010 4,131 9.5 673 436 1,109 3.2

Interbank money market takings 0 0 0 0.0 0 0 0 0.0Istanbul Stock Exc. money market takings 0 0 0 0.0 0 0 0 0.0Funds provided under repurchase agreements 3,120 1,010 4,131 9.5 673 436 1,109 3.2











Profit reserves 1,528 0 1,528 3.5 999 0 999 2.9Legal reserves 237 0 237 0.5 184 0 184 0.5Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 1,152 0 1,152 2.6 694 0 694 2.0Other profit reserves 139 0 139 0.3 121 0 121 0.4

Profit or loss 841 0 841 1.9 495 0 495 1.4Prior years income/loss 0 0 0 0.0 0 0 0 0.0Current year income/loss 841 0 841 1.9 495 0 495 1.4


II-54

Türkiye Vakıflar Bankası T.A.O.






Custody and Pledged Securities 48,398 14,834 63,232 39,347 13,035 52,381Items held in Custody 10,409 275 10,684 10,125 243 10,368Pledged Items 37,989 14,559 52,548 29,222 12,791 42,013Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2009 Dec. 2008






Profit/loss on trading account securities 83 34Profit/losses on derivative financial transactions -4 0Foreign exchange profit/loss 41 25



Other Operating Expenses (-) 1,031 867Personnel Expenses* 417 366

Net Operating Profit/Loss 1,037 608Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 1,037 608Provisions for Taxes on Income from Continuing Operations (±) -196 -113Net Profit/Loss from Continuing Operations 841 495Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Türkiye Vakıflar Bankası T.A.O. December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-55

II-57


II-58

Adabank A. .

Assets(USD Million)








Loans 0 0 0 0.0 0 0 0 0.0Loans 0 0 0 0.0 0 0 0 0.0













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.1 0 0 0 0.1




Total Assets 34 0 34 100.0 32 0 33 100.0

II-59

Adabank A. . December 2009

















Profit or loss -25 0 -25 -73.1 -25 0 -25 -76.2Prior years income/loss -25 0 -25 -74.7 -27 0 -27 -81.7Current year income/loss 1 0 1 1.6 2 0 2 5.6


II-60

Adabank A. .




Commitments 1 0 1 0 0 0Irrevocable commitments 1 0 1 0 0 0Revocable commitments 0 0 0 0 0 0



Total Off Balance Sheet Commitments 5 8 12 4 8 11


Dec. 2009 Dec. 2008










Net Operating Profit/Loss 1 2Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 1 2Provisions for Taxes on Income from Continuing Operations (±) 0 0Net Profit/Loss from Continuing Operations 1 2Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Adabank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios











TC Loans / Total Loans and Receivables - -



Assets Quality




Loans Under Follow-up (gross) / Total Loans and Receivables - -

Loans Under Follow-up (net) / Total Loans and Receivables - -



Consumer Loans / Total Loans and Receivables - -

Liquidity




Profitability











II-61

II-62

Akbank T.A. .

Assets(USD Million)








Loans 16,156 10,548 26,705 41.7 17,165 11,994 29,159 51.8Loans 16,156 10,548 26,705 41.7 17,165 11,994 29,159 51.8













Goodwill 0 0 0 0.0 0 0 0 0.0Other 44 0 44 0.1 24 0 24 0.0




Total Assets 44,488 19,594 64,082 100.0 34,292 21,993 56,285 100.0

II-63

Akbank T.A. . December 2009



Deposits 23,233 14,319 37,552 58.6 19,026 15,264 34,290 60.9Deposits held by the Banks risk group 900 825 1,725 2.7 633 902 1,536 2.7Other 22,333 13,494 35,827 55.9 18,393 14,361 32,754 58.2

Derivative Finan. Liabilities Held for Trading 125 79 204 0.3 11 32 43 0.1Funds Borrowed 92 5,389 5,481 8.6 150 7,274 7,425 13.2Money Market Takings 8,445 586 9,031 14.1 5,306 20 5,326 9.5









Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 0 0 0.0 0 0 0 0.0Shareholders' Equity 9,567 -26 9,541 14.9 7,470 -105 7,365 13.1

Paid-in capital 2,017 0 2,017 3.1 1,971 0 1,971 3.5Supplementary capital 2,755 -26 2,730 4.3 2,361 -105 2,256 4.0

Share premium 1,143 0 1,143 1.8 1,117 0 1,117 2.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 539 -6 533 0.8 32 -55 -23 0.0Revaluation changes of property and equip. 12 0 12 0.0 5 0 5 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) -220 -20 -239 -0.4 -46 -49 -95 -0.2Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 1,281 0 1,281 2.0 1,252 0 1,252 2.2

Profit reserves 2,962 0 2,962 4.6 2,018 0 2,018 3.6Legal reserves 525 0 525 0.8 444 0 444 0.8Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 2,436 0 2,436 3.8 1,574 0 1,574 2.8Other profit reserves 0 0 0 0.0 0 0 0 0.0



II-64

Akbank T.A. .





Derivative Financial Instruments 5,310 11,357 16,667 3,955 5,475 9,430Derivative finan. instruments held for hedging 3,422 0 3,422 3,345 2,310 5,655Trading transactions 1,888 11,357 13,245 611 3,165 3,776

Custody and Pledged Securities 34,987 9,079 44,067 32,626 8,616 41,242Items held in Custody 10,572 1,243 11,816 9,033 1,489 10,522Pledged Items 22,931 7,793 30,724 22,182 7,083 29,265Acccepted independent guaran. and warran. 1,484 43 1,527 1,411 45 1,455



Dec. 2009 Dec. 2008




Fees and commissions received 1,003 872Fees and commissions paid 142 155


Profit/loss on trading account securities 169 -79Profit/losses on derivative financial transactions -115 0Foreign exchange profit/loss 51 108







Akbank T.A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-65

II-66

Alternatif Bank A. .

Assets(USD Million)








Loans 1,533 300 1,833 75.1 1,262 296 1,558 63.3Loans 1,484 300 1,784 73.1 1,221 296 1,517 61.6

Loans granted to the Banks risk group 4 0 4 0.2 1 0 1 0.1Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 1,480 300 1,780 73.0 1,220 296 1,516 61.6












Goodwill 0 0 0 0.0 0 0 0 0.0Other 2 0 2 0.1 1 0 1 0.1




Total Assets 2,021 419 2,440 100.0 1,765 696 2,461 100.0

II-67

Alternatif Bank A. . December 2009



Deposits 1,012 702 1,713 70.2 963 781 1,744 70.9Deposits held by the Banks risk group 248 102 350 14.3 215 129 343 13.9Other 764 600 1,364 55.9 748 652 1,400 56.9















Total Liabilities 1,479 960 2,440 100.0 1,331 1,130 2,461 100.0

II-68

Alternatif Bank A. .



Guarantees and Warranties 534 524 1,058 413 404 818Letters of guarantee 528 277 805 413 239 652Bank acceptances 0 79 79 0 11 11Letters of credit 6 159 165 0 141 141Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 9 9 0 14 14


Derivative Financial Instruments 246 400 645 428 718 1,147Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 246 400 645 428 718 1,147

Custody and Pledged Securities 2,639 492 3,131 2,101 595 2,696Items held in Custody 80 20 100 79 23 102Pledged Items 2,558 472 3,030 2,021 572 2,593Acccepted independent guaran. and warran. 1 0 1 1 0 1



Dec. 2009 Dec. 2008













Alternatif Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-69

II-70

Anadolubank A. .

Assets(USD Million)








Loans 1,512 122 1,634 63.5 1,128 159 1,287 57.9Loans 1,502 122 1,624 63.1 1,126 159 1,285 57.8













Goodwill 0 0 0 0.0 0 0 0 0.0Other 1 0 1 0.0 1 0 1 0.0




Total Assets 1,985 590 2,574 100.0 1,461 763 2,224 100.0

II-71

Anadolubank A. . December 2009



Deposits 939 718 1,657 64.4 825 546 1,371 61.7Deposits held by the Banks risk group 12 6 19 0.7 4 7 12 0.5Other 926 712 1,638 63.6 821 539 1,360 61.2










Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 0 0 0.0 0 0 0 0.0Shareholders' Equity 426 -2 424 16.5 337 -2 335 15.0

Paid-in capital 275 0 275 10.7 269 0 269 12.1Supplementary capital 0 -2 -2 -0.1 -2 -2 -4 -0.2

Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities -1 -2 -3 -0.1 -2 -2 -4 -0.2Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 1 0 1 0.0 0 0 0 0.0



Total Liabilities 1,578 997 2,574 100.0 1,254 970 2,224 100.0

II-72

Anadolubank A. .






Custody and Pledged Securities 3,104 518 3,622 2,080 588 2,668Items held in Custody 2,030 109 2,140 1,521 86 1,608Pledged Items 1,074 408 1,482 558 502 1,060Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2009 Dec. 2008






Profit/loss on trading account securities 7 -29Profit/losses on derivative financial transactions -6 0Foreign exchange profit/loss -2 22







Anadolubank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-73

II-74

ekerbank T.A. .

Assets(USD Million)








Loans 2,877 422 3,299 54.8 2,760 394 3,154 59.7Loans 2,807 422 3,229 53.6 2,704 394 3,098 58.6













Goodwill 0 0 0 0.0 0 0 0 0.0Other 14 0 14 0.2 10 0 10 0.2




Total Assets 5,276 745 6,021 100.0 4,537 747 5,284 100.0

II-75

ekerbank T.A. . December 2009















Share premium 4 0 4 0.1 3 0 3 0.1Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities -1 0 -1 0.0 -14 0 -15 -0.3Revaluation changes of property and equip. 56 0 56 0.9 47 0 47 0.9Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 40 0 40 0.7 39 0 39 0.7




II-76

ekerbank T.A. .



Guarantees and Warranties 1,394 605 1,999 1,274 498 1,772Letters of guarantee 1,393 430 1,823 1,274 364 1,638Bank acceptances 0 32 32 0 16 16Letters of credit 0 121 121 0 103 103Prefinancing given as guarantee 0 0 0 0 1 1Endorsements 0 0 0 0 0 0Other guarantees and warrantees 1 23 24 0 14 14



Custody and Pledged Securities 35,258 7,397 42,655 24,005 5,690 29,694Items held in Custody 642 162 804 311 183 494Pledged Items 34,611 7,210 41,821 23,692 5,507 29,199Acccepted independent guaran. and warran. 5 25 30 2 0 2



Dec. 2009 Dec. 2008






Profit/loss on trading account securities 25 -12Profit/losses on derivative financial transactions -71 0Foreign exchange profit/loss -8 -97




Net Operating Profit/Loss 134 119Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 134 119Provisions for Taxes on Income from Continuing Operations (±) 0 -25Net Profit/Loss from Continuing Operations 134 95Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) -31 0Net Profit/Loss from Terminated Operations -31 0



ekerbank T.A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-77

II-78

Tekstil Bankas A. .

Assets(USD Million)








Loans 914 145 1,060 73.9 865 190 1,055 54.4Loans 886 145 1,032 71.9 846 190 1,036 53.4

Loans granted to the Banks risk group 45 0 45 3.2 12 1 13 0.7Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 841 145 986 68.8 834 189 1,023 52.7












Goodwill 0 0 0 0.0 0 0 0 0.0Other 1 0 1 0.1 2 0 2 0.1




Total Assets 1,174 260 1,434 100.0 1,511 429 1,941 100.0

II-79

Tekstil Bankas A. . December 2009















Share premium -1 0 -1 0.0 -1 0 -1 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 2 0 3 0.2 0 0 -1 0.0Revaluation changes of property and equip. 3 0 3 0.2 3 0 3 0.2Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 0 0 0 0.0 0 0 0 0.0



Total Liabilities 848 586 1,434 100.0 1,122 819 1,941 100.0

II-80

Tekstil Bankas A. .





Derivative Financial Instruments 331 880 1,212 246 546 791Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 331 880 1,212 246 546 791

Custody and Pledged Securities 979 487 1,466 927 337 1,265Items held in Custody 71 17 87 204 29 234Pledged Items 908 471 1,379 723 308 1,031Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2009 Dec. 2008






Profit/loss on trading account securities 5 -3Profit/losses on derivative financial transactions -3 0Foreign exchange profit/loss 7 -8







Tekstil Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-81

II-82

Turkish Bank A. .

Assets(USD Million)








Loans 91 66 157 22.7 107 25 133 24.5Loans 88 65 153 22.1 105 25 131 24.1













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.1 1 0 1 0.1




Total Assets 379 311 690 100.0 317 223 541 100.0

II-83

Turkish Bank A. . December 2009













Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 0 0 0.0 0 0 0 0.0Shareholders' Equity 102 0 102 14.8 98 -3 96 17.7

Paid-in capital 54 0 54 7.8 53 0 53 9.7Supplementary capital 38 0 38 5.5 37 -3 34 6.2

Share premium 25 0 25 3.7 25 0 25 4.5Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 0 0 0 0.0 -1 -3 -3 -0.6Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 13 0 13 1.9 13 0 13 2.3




II-84

Turkish Bank A. .









Dec. 2009 Dec. 2008










Net Operating Profit/Loss 1 7Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 1 7Provisions for Taxes on Income from Continuing Operations (±) 0 -1Net Profit/Loss from Continuing Operations 1 7Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Turkish Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios




Net On Balance Sheet Position / Total Shareholders' Equity 5.3 -1.8










Assets Quality









Liquidity




Profitability











II-85

II-86

Türk Ekonomi Bankas A. .

Assets(USD Million)


Cash and Balances with the Central Bank 232 785 1,016 10.0 352 1,027 1,380 14.2Fin.ass.where fair value cha. is refl.to I/S (Net) 111 15 127 1.3 32 27 60 0.6





Financial Assets Available for Sale (Net) 1,074 42 1,116 11.0 701 84 786 8.1Securities representing a share in capital 0 2 2 0.0 0 1 1 0.0Public sector debt securities 1,074 40 1,114 11.0 701 83 785 8.1Other marketable securities 0 0 0 0.0 0 0 0 0.0

Loans 4,709 1,336 6,045 59.7 4,157 1,431 5,589 57.7Loans 4,582 1,336 5,918 58.4 4,094 1,431 5,526 57.1













Goodwill 0 0 0 0.0 0 0 0 0.0Other 7 0 7 0.1 6 0 6 0.1




Total Assets 7,597 2,531 10,128 100.0 6,678 3,005 9,683 100.0

II-87

Türk Ekonomi Bankas A. . December 2009




Derivative Finan. Liabilities Held for Trading 20 15 35 0.3 64 52 116 1.2Funds Borrowed 530 579 1,109 11.0 1,112 494 1,606 16.6Money Market Takings 721 0 721 7.1 133 0 133 1.4









Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 325 325 3.2 0 325 325 3.4Shareholders' Equity 1,106 3 1,109 10.9 937 -2 935 9.7






II-88

Türk Ekonomi Bankas A. .



Guarantees and Warranties 1,031 1,275 2,305 886 1,294 2,180Letters of guarantee 951 849 1,801 830 825 1,654Bank acceptances 0 26 26 0 34 34Letters of credit 0 338 338 0 349 349Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 79 61 140 57 86 143


Derivative Financial Instruments 1,905 2,998 4,902 1,610 3,495 5,105Derivative finan. instruments held for hedging 316 196 512 383 276 659Trading transactions 1,589 2,802 4,390 1,228 3,219 4,447




Dec. 2009 Dec. 2008

Interest Income 1,099 1,292Interest on loans 853 971Interest received from reserve deposits 18 30Interest received from banks 9 27Interest received from money market transactions 18 57Interest received from marketable securities portfolio 195 198Other interest income 7 10







Specific provisions of banks loans and other receivables* 116 66General provision expenses* -1 10





Türk Ekonomi Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-89

II-90

Türkiye Garanti Bankas A. .

Assets(USD Million)





Banks 1,693 3,911 5,604 7.9 937 2,218 3,155 5.4Money Market Securities 672 0 672 0.9 27 0 27 0.0


Financial Assets Available for Sale (Net) 16,956 1,934 18,890 26.6 9,783 1,615 11,398 19.5Securities representing a share in capital 37 52 89 0.1 17 30 46 0.1Public sector debt securities 16,777 706 17,483 24.7 9,562 496 10,058 17.2Other marketable securities 142 1,176 1,318 1.9 204 1,090 1,294 2.2

Loans 19,218 14,220 33,438 47.2 18,419 14,376 32,795 56.1Loans 18,932 14,220 33,153 46.8 18,123 14,376 32,499 55.6



Factoring Receivables 0 0 0 0.0 0 0 0 0.0Investments held to Maturity (Net) 4,007 932 4,939 7.0 3,978 1,027 5,005 8.6

Public sector debt securities 4,007 932 4,939 7.0 3,978 1,027 5,005 8.6Other marketable securities 0 0 0 0.0 0 0 0 0.0









Goodwill 0 0 0 0.0 0 0 0 0.0Other 14 0 14 0.0 10 0 10 0.0




Total Assets 47,284 23,624 70,908 100.0 36,693 21,752 58,445 100.0

II-91

Türkiye Garanti Bankas A. . December 2009




Derivative Finan. Liabilities Held for Trading 75 79 154 0.2 195 78 273 0.5Funds Borrowed 2,145 6,600 8,746 12.3 1,365 5,761 7,125 12.2Money Market Takings 6,977 106 7,083 10.0 6,869 165 7,033 12.0




Miscellaneous Payables 1,573 14 1,587 2.2 1,270 12 1,281 2.2Other External Resources 475 151 626 0.9 412 148 560 1.0Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 1 2 3 0.0 0 15 15 0.0






Paid-in capital 2,824 0 2,824 4.0 2,760 0 2,760 4.7Supplementary capital 1,772 199 1,970 2.8 1,052 111 1,163 2.0

Share premium 8 0 8 0.0 8 0 8 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 883 200 1,083 1.5 189 69 258 0.4Revaluation changes of property and equip. 402 0 402 0.6 392 0 392 0.7Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 2 0 2 0.0 2 0 2 0.0Hedging funds (active part) -43 -1 -44 -0.1 -47 43 -4 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 519 0 519 0.7 508 0 508 0.9

Profit reserves 2,158 9 2,167 3.1 1,143 6 1,149 2.0Legal reserves 244 3 247 0.3 177 3 179 0.3Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 1,915 0 1,915 2.7 966 0 966 1.7Other profit reserves 0 6 6 0.0 0 3 3 0.0



II-92

Türkiye Garanti Bankas A. .









Dec. 2009 Dec. 2008



Net Interest Income/Expenses 3,416 2,088Net Fees and Commissions Income/Expenses 1,104 947



Profit/loss on trading account securities 243 348Profit/losses on derivative financial transactions 255 0Foreign exchange profit/loss 95 -183







Türkiye Garanti Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios





Net On and Off Balance Sheet Position / Total Shareholders' Equity 0.4 -2.6









Assets Quality









Liquidity




Profitability











II-93

II-94

Türkiye Bankas A. .

Assets(USD Million)








Loans 23,153 9,345 32,498 42.7 21,548 9,737 31,286 48.8Loans 23,153 9,345 32,498 42.7 21,548 9,737 31,286 48.8



Factoring Receivables 0 0 0 0.0 0 0 0 0.0Investments held to Maturity (Net) 7,802 892 8,693 11.4 2,268 6 2,275 3.5




Subsidiaries (Net) 2,855 28 2,883 3.8 1,518 27 1,546 2.4Financial subsidiaries 1,548 28 1,576 2.1 671 27 698 1.1Non-financial subsidiaries 1,307 0 1,307 1.7 848 0 848 1.3






Goodwill 0 0 0 0.0 0 0 0 0.0Other 22 0 22 0.0 37 0 37 0.1




Total Assets 50,933 25,193 76,127 100.0 39,542 24,561 64,103 100.0

II-95

Türkiye Bankas A. . December 2009



Deposits 30,035 18,494 48,529 63.7 26,542 15,211 41,753 65.1Deposits held by the Banks risk group 924 846 1,771 2.3 967 457 1,423 2.2Other 29,111 17,647 46,758 61.4 25,575 14,755 40,330 62.9

Derivative Finan. Liabilities Held for Trading 219 109 327 0.4 236 105 340 0.5Funds Borrowed 1,610 4,941 6,551 8.6 1,823 5,427 7,250 11.3Money Market Takings 4,292 3,093 7,385 9.7 2,587 2,017 4,604 7.2




Miscellaneous Payables 1,194 108 1,303 1.7 946 111 1,057 1.6Other External Resources 283 112 395 0.5 230 420 650 1.0Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 0 12 12 0.0 0 35 35 0.1



Provisions 2,339 11 2,349 3.1 1,969 68 2,037 3.2General provisions 339 0 339 0.4 306 0 306 0.5Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 111 0 111 0.1 99 0 99 0.2Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 1,888 11 1,899 2.5 1,564 67 1,632 2.5



Paid-in capital 2,071 0 2,071 2.7 1,811 0 1,811 2.8Supplementary capital 2,200 24 2,224 2.9 881 12 893 1.4

Share premium 2 0 2 0.0 2 0 2 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 867 24 891 1.2 -420 12 -409 -0.6Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 1 0 1 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 1,330 0 1,330 1.7 1,299 0 1,299 2.0

Profit reserves 3,183 0 3,183 4.2 2,513 0 2,513 3.9Legal reserves 857 0 857 1.1 759 0 759 1.2Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 2,332 0 2,332 3.1 1,758 0 1,758 2.7Other profit reserves -6 0 -6 0.0 -4 0 -4 0.0



II-96

Türkiye Bankas A. .









Dec. 2009 Dec. 2008







Other Operating Income 722 428Total Operating Income/Expenses 5,330 4,095Provision for Loan Losses or other Receivables (-) 1,537 1,061



Net Operating Profit/Loss 1,981 1,182Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 1,981 1,182Provisions for Taxes on Income from Continuing Operations (±) -385 -190Net Profit/Loss from Continuing Operations 1,595 992Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Türkiye Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-97

II-98

Yap ve Kredi Bankas A. .

Assets(USD Million)





Banks 275 834 1,109 2.6 19 1,404 1,422 3.4Money Market Securities 1,029 0 1,029 2.4 27 0 27 0.1

Interbank money market placements 1,009 0 1,009 2.3 0 0 0 0.0Istanbul Stock Exc. money market placements 20 0 20 0.0 27 0 27 0.1Receiv. from reverse repurchase agreements 0 0 0 0.0 0 0 0 0.0


Loans 16,624 8,830 25,454 58.6 16,630 8,783 25,413 60.7Loans 16,358 8,826 25,183 58.0 16,208 8,781 24,989 59.7


Loans under follow-up 1,728 7 1,735 4.0 1,103 23 1,126 2.7Specific provisions (-) 1,461 3 1,465 3.4 682 21 702 1.7





Subsidiaries (Net) 953 262 1,215 2.8 935 256 1,190 2.8Financial subsidiaries 951 262 1,213 2.8 933 256 1,189 2.8Non-financial subsidiaries 2 0 2 0.0 2 0 2 0.0






Goodwill 659 0 659 1.5 644 0 644 1.5Other 139 0 139 0.3 113 0 113 0.3




Total Assets 26,945 16,463 43,408 100.0 25,108 16,765 41,874 100.0

II-99

Yap ve Kredi Bankas A. . December 2009








Miscellaneous Payables 1,773 238 2,012 4.6 1,534 159 1,693 4.0Other External Resources 337 252 589 1.4 312 666 977 2.3Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 0 4 4 0.0 1 4 5 0.0



Provisions 1,306 263 1,569 3.6 1,093 188 1,280 3.1General provisions 372 228 600 1.4 268 163 431 1.0Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 101 0 101 0.2 91 0 91 0.2Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 833 35 869 2.0 734 25 759 1.8


Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 1,495 1,495 3.4 0 1,459 1,459 3.5Shareholders' Equity 5,500 59 5,559 12.8 4,488 15 4,503 10.8

Paid-in capital 2,923 0 2,923 6.7 2,857 0 2,857 6.8Supplementary capital 412 59 470 1.1 377 15 392 0.9


Profit reserves 1,255 0 1,255 2.9 570 0 570 1.4Legal reserves 65 0 65 0.1 29 0 29 0.1Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 1,190 0 1,190 2.7 541 0 541 1.3Other profit reserves 0 0 0 0.0 0 0 0 0.0



II-100

Yap ve Kredi Bankas A. .




Commitments 11,035 2,014 13,049 9,666 694 10,360Irrevocable commitments 11,035 2,014 13,049 9,666 694 10,360Revocable commitments 0 0 0 0 0 0

Derivative Financial Instruments 7,314 18,013 25,327 3,870 7,514 11,384Derivative finan. instruments held for hedging 1,316 1,353 2,669 0 0 0Trading transactions 5,999 16,660 22,659 3,870 7,514 11,384

Custody and Pledged Securities 47,476 11,742 59,218 48,792 9,536 58,329Items held in Custody 29,020 2,294 31,314 33,380 966 34,346Pledged Items 17,888 9,041 26,928 14,755 8,126 22,881Acccepted independent guaran. and warran. 568 408 976 658 445 1,102



Dec. 2009 Dec. 2008

Interest Income 4,515 4,615Interest on loans 3,482 3,421Interest received from reserve deposits 77 143Interest received from banks 18 44Interest received from money market transactions 58 27Interest received from marketable securities portfolio 880 969Other interest income 1 11





Profit/loss on trading account securities 92 200Profit/losses on derivative financial transactions 202 0Foreign exchange profit/loss -65 -203




Net Operating Profit/Loss 1,152 877Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 1,152 877Provisions for Taxes on Income from Continuing Operations (±) -241 -192Net Profit/Loss from Continuing Operations 911 685Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Yap ve Kredi Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-101

II-103


II-104

Birle ik Fon Bankas A. .

Assets(USD Million)








Loans 8 0 8 1.5 10 1 10 1.9Loans 1 0 1 0.1 2 1 3 0.5













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 471 72 542 100.0 476 73 548 100.0

II-105

Birle ik Fon Bankas A. . December 2009
















Profit reserves 11,926 0 11,926 2,198.4 11,708 0 11,708 2,135.4Legal reserves 18 0 18 3.3 17 0 17 3.2Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 11,908 0 11,908 2,195.1 11,691 0 11,691 2,132.2Other profit reserves 0 0 0 0.0 0 0 0 0.0

Profit or loss -11,810 0 -11,810 -2,177.1 -11,578 0 -11,578 -2,111.7Prior years income/loss -11,847 0 -11,847 -2,183.8 -11,631 0 -11,631 -2,121.3Current year income/loss 37 0 37 6.8 53 0 53 9.6


II-106

Birle ik Fon Bankas A. .




Commitments 2,087 0 2,087 0 0 0Irrevocable commitments 2,087 0 2,087 0 0 0Revocable commitments 0 0 0 0 0 0



Total Off Balance Sheet Commitments 2,739 165 2,905 675 171 847


Dec. 2009 Dec. 2008













Birle ik Fon Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-107

II-109

Foreign Banks

II-110

Arap Türk Bankas A. .

Assets(USD Million)








Loans 136 99 235 36.2 92 122 214 40.7Loans 136 99 235 36.2 92 122 214 40.7













Goodwill 0 0 0 0.0 0 0 0 0.0Other 1 0 1 0.2 0 0 0 0.0




Total Assets 354 296 649 100.0 250 275 525 100.0

II-111

Arap Türk Bankas A. . December 2009



















II-112

Arap Türk Bankas A. .







Total Off Balance Sheet Commitments 156 1,147 1,303 209 905 1,114


Dec. 2009 Dec. 2008






Profit/loss on trading account securities 0 -32Profit/losses on derivative financial transactions -1 0Foreign exchange profit/loss -6 3




Net Operating Profit/Loss 21 -1Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 21 -1Provisions for Taxes on Income from Continuing Operations (±) -4 3Net Profit/Loss from Continuing Operations 17 2Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Arap Türk Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability



Profit/Losses Before Taxes after Continuing Operations / Total Assets 3.3 -0.2




Non-interest Income (net) / Total Assets 1.4 -1.3



Non-interest Income (net) / Other Operating Expenses 46.0 -42.0

II-113

II-114

Bank Mellat

Assets(USD Million)








Loans 0 152 153 57.5 1 119 119 55.4Loans 0 152 153 57.4 1 119 119 55.4













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 44 222 266 100.0 35 181 215 100.0

II-115

Bank Mellat December 2009



















II-116

Bank Mellat









Dec. 2009 Dec. 2008










Net Operating Profit/Loss 15 12Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 15 12Provisions for Taxes on Income from Continuing Operations (±) -3 0Net Profit/Loss from Continuing Operations 12 12Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 -2Net Profit/Loss from Terminated Operations 0 -2



Bank Mellat December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-117

II-118

Citibank A. .

Assets(USD Million)








Loans 1,092 311 1,403 42.8 1,294 357 1,651 46.1Loans 1,071 311 1,382 42.1 1,260 357 1,617 45.1













Goodwill 0 0 0 0.0 0 0 0 0.0Other 5 0 5 0.2 5 0 5 0.1




Total Assets 2,774 506 3,280 100.0 2,989 593 3,582 100.0

II-119

Citibank A. . December 2009



Deposits 1,706 725 2,431 74.1 1,660 1,119 2,779 77.6Deposits held by the Banks risk group 150 17 166 5.1 132 43 175 4.9Other 1,556 708 2,264 69.0 1,528 1,076 2,604 72.7















Total Liabilities 2,540 740 3,280 100.0 2,370 1,212 3,582 100.0

II-120

Citibank A. .






Custody and Pledged Securities 14,750 925 15,674 17,340 6,003 23,342Items held in Custody 14,600 227 14,827 17,080 386 17,466Pledged Items 150 698 848 260 5,617 5,877Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2009 Dec. 2008



Net Interest Income/Expenses 242 277Net Fees and Commissions Income/Expenses -6 -7










Citibank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-121

II-122

Denizbank A. .

Assets(USD Million)


Cash and Balances with the Central Bank 428 487 914 6.4 682 633 1,316 10.4Fin.ass.where fair value cha. is refl.to I/S (Net) 97 54 151 1.1 58 55 113 0.9






Loans 7,064 2,463 9,528 66.8 6,081 2,304 8,384 66.4Loans 6,868 2,463 9,331 65.4 5,998 2,304 8,302 65.7













Goodwill 0 0 0 0.0 0 0 0 0.0Other 19 0 19 0.1 11 0 11 0.1




Total Assets 10,425 3,832 14,257 100.0 8,921 3,712 12,633 100.0

II-123

Denizbank A. . December 2009















Share premium 66 0 66 0.5 65 0 65 0.5Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 49 14 63 0.4 -15 -3 -18 -0.1Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) -75 -4 -79 -0.6 -37 -4 -41 -0.3Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 127 0 127 0.9 124 0 124 1.0




II-124

Denizbank A. .



Guarantees and Warranties 1,337 2,053 3,390 996 2,110 3,105Letters of guarantee 1,337 1,162 2,499 996 1,128 2,123Bank acceptances 0 81 81 0 59 59Letters of credit 0 608 608 0 800 800Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 203 203 0 124 124


Derivative Financial Instruments 3,271 8,401 11,672 1,697 4,054 5,751Derivative finan. instruments held for hedging 595 1,074 1,668 609 854 1,463Trading transactions 2,676 7,327 10,004 1,088 3,200 4,288




Dec. 2009 Dec. 2008



Net Interest Income/Expenses 1,107 720Net Fees and Commissions Income/Expenses 174 128




Other Operating Income 140 96Total Operating Income/Expenses 1,360 841Provision for Loan Losses or other Receivables (-) 363 173






Denizbank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-125

II-126

Deutsche Bank A. .

Assets(USD Million)








Loans 32 15 46 3.6 82 8 90 20.1Loans 32 15 46 3.6 82 8 90 20.1













Goodwill 0 0 0 0.0 0 0 0 0.0Other 77 0 77 6.0 84 0 84 18.8




Total Assets 1,212 72 1,284 100.0 380 69 449 100.0

II-127

Deutsche Bank A. . December 2009


















Total Liabilities 985 299 1,284 100.0 308 141 449 100.0

II-128

Deutsche Bank A. .






Custody and Pledged Securities 10,898 10 10,908 8,958 0 8,958Items held in Custody 10,898 10 10,908 8,958 0 8,958Pledged Items 0 0 0 0 0 0Acccepted independent guaran. and warran. 0 0 0 0 0 0

Total Off Balance Sheet Commitments 12,037 1,433 13,470 9,512 514 10,025


Dec. 2009 Dec. 2008













Deutsche Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality






Specific Provisions / Loans Under Follow-up - -



Liquidity




Profitability











II-129

II-130

Eurobank Tekfen A. .

Assets(USD Million)








Loans 616 234 850 32.8 506 212 717 31.4Loans 566 234 800 30.8 480 212 692 30.3













Goodwill 0 0 0 0.0 0 0 0 0.0Other 3 0 3 0.1 2 0 2 0.1




Total Assets 2,076 517 2,593 100.0 1,906 382 2,287 100.0

II-131

Eurobank Tekfen A. . December 2009



Deposits 725 520 1,245 48.0 783 397 1,180 51.6Deposits held by the Banks risk group 299 159 458 17.7 391 98 489 21.4Other 426 360 787 30.3 391 299 691 30.2











Paid-in capital 255 0 255 9.9 151 0 151 6.6Supplementary capital 10 1 11 0.4 6 -10 -4 -0.2

Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 4 1 5 0.2 1 -10 -9 -0.4Revaluation changes of property and equip. 5 0 5 0.2 5 0 5 0.2Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 1 0 1 0.0 1 0 1 0.0




II-132

Eurobank Tekfen A. .









Dec. 2009 Dec. 2008













Eurobank Tekfen A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-133

II-134

Finans Bank A. .

Assets(USD Million)


Cash and Balances with the Central Bank 681 524 1,205 6.1 468 567 1,035 5.9Fin.ass.where fair value cha. is refl.to I/S (Net) 1,365 36 1,401 7.1 499 78 578 3.3






Loans 10,424 1,373 11,798 59.8 9,708 2,040 11,748 67.3Loans 10,353 1,373 11,726 59.5 9,708 2,040 11,748 67.3



Factoring Receivables 0 0 0 0.0 0 0 0 0.0Investments held to Maturity (Net) 0 0 0 0.0 1,754 0 1,754 10.0

Public sector debt securities 0 0 0 0.0 1,754 0 1,754 10.0Other marketable securities 0 0 0 0.0 0 0 0 0.0









Goodwill 0 0 0 0.0 0 0 0 0.0Other 42 0 42 0.2 28 0 28 0.2




Total Assets 16,548 3,164 19,712 100.0 13,922 3,540 17,462 100.0

II-135

Finans Bank A. . December 2009



Deposits 8,746 4,881 13,627 69.1 6,635 3,838 10,474 60.0Deposits held by the Banks risk group 190 834 1,025 5.2 187 301 488 2.8Other 8,556 4,046 12,603 63.9 6,448 3,538 9,986 57.2











Paid-in capital 1,059 0 1,059 5.4 986 0 986 5.6Supplementary capital 56 28 84 0.4 -16 -10 -26 -0.1





II-136

Finans Bank A. .



Guarantees and Warranties 1,505 1,985 3,490 1,435 2,163 3,598Letters of guarantee 1,505 1,147 2,653 1,434 1,219 2,654Bank acceptances 0 447 447 1 674 675Letters of credit 0 363 363 0 227 227Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 28 28 0 43 43


Derivative Financial Instruments 9,293 10,707 20,000 7,035 8,606 15,641Derivative finan. instruments held for hedging 0 97 97 2,489 2,151 4,641Trading transactions 9,293 10,610 19,903 4,546 6,455 11,000

Custody and Pledged Securities 20,315 6,913 27,227 4,814 1,035 5,849Items held in Custody 1,943 729 2,672 1,865 489 2,354Pledged Items 18,372 6,183 24,555 2,950 546 3,495Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2009 Dec. 2008


Interest Expenses 1,100 1,315Interest on deposits 900 1,059Interest on money market transactions 143 148Interest on funds borrowed 55 107Interest on securities issued 0 0Other interest expenses 1 1




Profit/loss on trading account securities 219 -187Profit/losses on derivative financial transactions -511 0Foreign exchange profit/loss 39 -3




Net Operating Profit/Loss 397 330Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 397 330Provisions for Taxes on Income from Continuing Operations (±) -86 -92Net Profit/Loss from Continuing Operations 311 238Net Profit/Loss Before Taxes from Terminated Operations 133 0Provisions for Taxes on Income from Terminated Operations (±) -7 0Net Profit/Loss from Terminated Operations 126 0



Finans Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-137

II-138

Fortis Bank A. .

Assets(USD Million)








Loans 4,069 606 4,675 61.7 3,814 943 4,756 60.7Loans 3,920 606 4,526 59.7 3,750 942 4,693 59.9













Goodwill 0 0 0 0.0 0 0 0 0.0Other 7 0 7 0.1 9 0 9 0.1




Total Assets 5,965 1,615 7,580 100.0 5,668 2,162 7,829 100.0

II-139

Fortis Bank A. . December 2009



















II-140

Fortis Bank A. .



Guarantees and Warranties 476 1,321 1,797 421 1,608 2,029Letters of guarantee 463 714 1,176 410 775 1,184Bank acceptances 0 103 103 0 151 151Letters of credit 0 441 441 0 535 535Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 13 64 77 11 147 158






Dec. 2009 Dec. 2008

Interest Income 994 1,069Interest on loans 767 790Interest received from reserve deposits 12 20Interest received from banks 3 5Interest received from money market transactions 21 7Interest received from marketable securities portfolio 177 225Other interest income 13 22




Dividend Income 28 4Trading Profit/Loss (net) -6 20



Specific provisions of banks loans and other receivables* 102 47General provision expenses* -1 12


Net Operating Profit/Loss 91 127Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 91 127Provisions for Taxes on Income from Continuing Operations (±) -16 -30Net Profit/Loss from Continuing Operations 75 97Net Profit/Loss Before Taxes from Terminated Operations 0 -2Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 -2



Fortis Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-141

II-142

Habib Bank Limited

Assets(USD Million)








Loans 7 2 9 17.6 10 4 14 25.8Loans 7 1 7 15.2 10 4 14 25.7













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 27 22 49 100.0 28 25 53 100.0

II-143

Habib Bank Limited December 2009



















II-144

Habib Bank Limited









Dec. 2009 Dec. 2008













Habib Bank Limited December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-145

II-146

HSBC Bank A. .

Assets(USD Million)


Cash and Balances with the Central Bank 293 339 631 6.8 591 522 1,114 11.5Fin.ass.where fair value cha. is refl.to I/S (Net) 56 45 101 1.1 209 34 243 2.5





Financial Assets Available for Sale (Net) 1,113 94 1,207 13.0 392 101 493 5.1Securities representing a share in capital 1 0 1 0.0 0 1 1 0.0Public sector debt securities 1,112 94 1,206 13.0 392 101 493 5.1Other marketable securities 0 0 0 0.0 0 0 0 0.0

Loans 5,239 645 5,884 63.2 5,511 878 6,390 66.2Loans 5,102 589 5,690 61.1 5,420 877 6,297 65.2













Goodwill 56 0 56 0.6 55 0 55 0.6Other 13 0 13 0.1 95 0 95 1.0




Total Assets 7,150 2,162 9,312 100.0 7,141 2,516 9,657 100.0

II-147

HSBC Bank A. . December 2009




Derivative Finan. Liabilities Held for Trading 18 39 57 0.6 40 22 62 0.6Funds Borrowed 715 289 1,004 10.8 926 632 1,558 16.1Money Market Takings 0 0 0 0.0 0 0 0 0.0















II-148

HSBC Bank A. .



Guarantees and Warranties 99 842 941 98 957 1,055Letters of guarantee 99 302 401 98 334 432Bank acceptances 0 255 256 0 192 192Letters of credit 0 210 210 0 290 291Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 74 74 0 140 140

Commitments 4,688 1,253 5,941 4,091 3 4,094Irrevocable commitments 4,688 1,253 5,941 4,091 3 4,094Revocable commitments 0 0 0 0 0 0


Custody and Pledged Securities 5,997 1,398 7,395 4,330 811 5,141Items held in Custody 5,990 1,326 7,315 4,325 715 5,040Pledged Items 7 73 80 5 95 101Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2009 Dec. 2008







Other Operating Income 46 30Total Operating Income/Expenses 1,125 991Provision for Loan Losses or other Receivables (-) 320 184






HSBC Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-149

II-150

ING Bank A. .

Assets(USD Million)








Loans 6,234 1,165 7,399 72.2 5,934 1,323 7,257 66.9Loans 6,097 1,165 7,262 70.9 5,819 1,323 7,142 65.9













Goodwill 0 0 0 0.0 0 0 0 0.0Other 14 0 14 0.1 12 0 12 0.1




Total Assets 8,456 1,786 10,242 100.0 8,414 2,431 10,844 100.0

II-151

ING Bank A. . December 2009














Paid-in capital 1,167 0 1,167 11.4 870 0 870 8.0Supplementary capital -42 0 -42 -0.4 -32 -2 -34 -0.3

Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 27 0 27 0.3 9 -2 7 0.1Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) -70 0 -70 -0.7 -41 0 -41 -0.4Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 0 0 0 0.0 0 0 0 0.0




II-152

ING Bank A. .



Guarantees and Warranties 1,021 1,594 2,615 924 1,869 2,793Letters of guarantee 1,021 929 1,950 924 1,098 2,021Bank acceptances 0 62 62 0 80 80Letters of credit 0 485 485 0 653 653Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 118 118 0 39 39

Commitments 1,528 118 1,646 13,193 126 13,318Irrevocable commitments 1,528 118 1,646 1,362 126 1,488Revocable commitments 0 0 0 11,830 0 11,830

Derivative Financial Instruments 3,564 1,557 5,121 3,517 1,972 5,490Derivative finan. instruments held for hedging 2,670 0 2,670 2,678 0 2,678Trading transactions 894 1,557 2,451 839 1,972 2,811

Custody and Pledged Securities 54,304 9,741 64,045 37,382 8,941 46,323Items held in Custody 2,205 201 2,406 543 254 797Pledged Items 24,616 3,225 27,840 17,472 2,901 20,372Acccepted independent guaran. and warran. 27,483 6,315 33,799 19,368 5,786 25,153



Dec. 2009 Dec. 2008













ING Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability







Non-interest Income (net) / Total Assets -0.5 0.6



Non-interest Income (net) / Other Operating Expenses -11.8 17.3

II-153

II-154

JPMorgan Chase Bank N.A.

Assets(USD Million)








Loans 0 0 0 0.0 0 0 0 0.0Loans 0 0 0 0.0 0 0 0 0.0













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.2 0 0 0 0.1




Total Assets 60 74 134 100.0 157 3 160 100.0

II-155

JPMorgan Chase Bank N.A. December 2009



















II-156

JPMorgan Chase Bank N.A.









Dec. 2009 Dec. 2008






Profit/loss on trading account securities 30 17Profit/losses on derivative financial transactions -2 0Foreign exchange profit/loss -7 -20







JPMorgan Chase Bank N.A. December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios









FC Assets / FC Liabilities 1,838.2 7.1





Assets Quality









Liquidity


Liquid Assets / Short-term Liabilities 1,484.1 278.4


Profitability











II-157

II-158

Millennium Bank A. .

Assets(USD Million)








Loans 469 20 489 67.9 567 14 581 73.3Loans 459 20 479 66.6 561 14 575 72.5













Goodwill 0 0 0 0.0 0 0 0 0.0Other 1 0 1 0.2 1 0 1 0.1




Total Assets 607 113 720 100.0 685 107 793 100.0

II-159

Millennium Bank A. . December 2009

















Profit or loss -72 0 -72 -10.0 -48 0 -48 -6.0Prior years income/loss -60 0 -60 -8.4 -50 0 -50 -6.3Current year income/loss -12 0 -12 -1.7 2 0 2 0.2


II-160

Millennium Bank A. .




Commitments 740 1,561 2,301 253 49 302Irrevocable commitments 437 1,561 1,998 48 49 96Revocable commitments 303 0 303 206 0 206

Derivative Financial Instruments 161 1,143 1,304 284 1,512 1,795Derivative finan. instruments held for hedging 70 613 683 99 803 902Trading transactions 91 531 622 184 709 893

Custody and Pledged Securities 910 1,387 2,298 567 923 1,490Items held in Custody 46 41 87 116 67 182Pledged Items 849 1,288 2,138 446 815 1,261Acccepted independent guaran. and warran. 16 58 74 5 41 47



Dec. 2009 Dec. 2008










Net Operating Profit/Loss -14 1Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations -14 1Provisions for Taxes on Income from Continuing Operations (±) 2 1Net Profit/Loss from Continuing Operations -12 2Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0

Net Profit/Losses -12 2


Millennium Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability

Net Profit/Losses / Total Assets -1.7 0.2

Net Profit/Losses / Total Shareholders' Equity -14.6 1.9

Profit/Losses Before Taxes after Continuing Operations / Total Assets -2.0 0.1




Non-interest Income (net) / Total Assets -0.1 0.6



Non-interest Income (net) / Other Operating Expenses -1.3 13.4

II-161

II-162

Société Générale (SA)

Assets(USD Million)








Loans 85 20 105 43.5 66 4 69 22.2Loans 83 20 103 42.6 65 4 69 21.9













Goodwill 0 0 0 0.0 0 0 0 0.0Other 3 0 3 1.2 2 0 2 0.7




Total Assets 191 51 242 100.0 295 18 313 100.0

II-163

Société Générale (SA) December 2009

















Profit or loss -43 0 -43 -17.9 -32 0 -32 -10.1Prior years income/loss -32 0 -32 -13.3 -19 0 -19 -6.2Current year income/loss -11 0 -11 -4.6 -12 0 -12 -3.9


II-164

Société Générale (SA)









Dec. 2009 Dec. 2008










Net Operating Profit/Loss -11 -10Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations -11 -10Provisions for Taxes on Income from Continuing Operations (±) 0 -2Net Profit/Loss from Continuing Operations -11 -12Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0

Net Profit/Losses -11 -12


Société Générale (SA) December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability

Net Profit/Losses / Total Assets -4.6 -3.9

Net Profit/Losses / Total Shareholders' Equity -72.8 -47.4

Profit/Losses Before Taxes after Continuing Operations / Total Assets -4.4 -3.3




Non-interest Income (net) / Total Assets -3.4 -1.7



Non-interest Income (net) / Other Operating Expenses -36.8 -26.6

II-165

II-166

The Royal Bank of Scotland N.V.

Assets(USD Million)








Loans 63 65 128 15.9 99 31 130 15.3Loans 62 65 127 15.7 96 31 126 15.0













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.1 0 0 0 0.0




Total Assets 707 98 805 100.0 756 90 846 100.0

II-167

The Royal Bank of Scotland N.V. December 2009















Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 5 0 5 0.6 -2 0 -2 -0.2Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 44 0 44 5.5 43 0 43 5.1




II-168

The Royal Bank of Scotland N.V.




Commitments 180 733 913 256 906 1,162Irrevocable commitments 28 77 105 2 0 2Revocable commitments 153 655 808 254 906 1,160





Dec. 2009 Dec. 2008













The Royal Bank of Scotland N.V. December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-169

II-170

Turkland Bank A. .

Assets(USD Million)








Loans 370 115 486 63.1 291 100 391 58.3Loans 366 115 482 62.6 289 100 389 57.9













Goodwill 0 0 0 0.0 0 0 0 0.0Other 1 0 1 0.1 2 0 2 0.3




Total Assets 573 196 770 100.0 475 196 671 100.0

II-171

Turkland Bank A. . December 2009



















II-172

Turkland Bank A. .







Total Off Balance Sheet Commitments 2,526 789 3,316 1,621 772 2,392


Dec. 2009 Dec. 2008













Turkland Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-173

II-174

WestLB AG

Assets(USD Million)








Loans 1 23 24 6.4 6 19 24 4.5Loans 1 23 24 6.4 6 19 24 4.5













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 290 84 374 100.0 358 187 545 100.0

II-175

WestLB AG December 2009



















II-176

WestLB AG







Total Off Balance Sheet Commitments 198 157 356 437 594 1,032


Dec. 2009 Dec. 2008













WestLB AG December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-177

II-179


II-180

Aktif Yat r m Bankas A. .

Assets(USD Million)








Loans 161 39 200 51.5 62 16 77 46.8Loans 161 39 200 51.5 62 16 77 46.7













Goodwill 0 0 0 0.0 0 0 0 0.0Other 5 0 5 1.4 1 0 1 0.6




Total Assets 284 105 389 100.0 123 42 165 100.0

II-181

Aktif Yat r m Bankas A. . December 2009



















II-182

Aktif Yat r m Bankas A. .









Dec. 2009 Dec. 2008






Profit/loss on trading account securities 3 0Profit/losses on derivative financial transactions 3 0Foreign exchange profit/loss -3 0




Net Operating Profit/Loss 8 1Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 8 1Provisions for Taxes on Income from Continuing Operations (±) -2 0Net Profit/Loss from Continuing Operations 6 1Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Aktif Yat r m Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-183

II-184

BankPozitif Kredi ve Kalk nma Bankas A. .

Assets(USD Million)








Loans 529 280 809 75.5 543 163 706 64.6Loans 497 280 777 72.4 536 163 699 64.0













Goodwill 0 0 0 0.0 0 0 0 0.0Other 3 0 3 0.3 3 0 3 0.3




Total Assets 636 437 1,073 100.0 725 367 1,092 100.0

II-185

BankPozitif Kredi ve Kalk nma Bankas A. . December 2009













Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 0 0 0.0 0 0 0 0.0Shareholders' Equity 300 -1 299 27.9 308 -1 307 28.1

Paid-in capital 227 0 227 21.1 222 0 222 20.3Supplementary capital 28 -1 27 2.5 27 -1 25 2.3

Share premium 14 0 14 1.3 13 0 13 1.2Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 1 -1 0 0.0 0 10 11 1.0Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 -12 -12 -1.1Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 14 0 14 1.3 13 0 13 1.2



Total Liabilities 411 662 1,073 100.0 361 731 1,092 100.0

II-186

BankPozitif Kredi ve Kalk nma Bankas A. .






Custody and Pledged Securities 753 2,096 2,849 637 1,679 2,316Items held in Custody 15 77 92 25 36 61Pledged Items 738 2,019 2,757 612 1,643 2,255Acccepted independent guaran. and warran. 0 0 0 0 0 0

Total Off Balance Sheet Commitments 948 3,333 4,281 730 2,439 3,170


Dec. 2009 Dec. 2008






Profit/loss on trading account securities 0 -3Profit/losses on derivative financial transactions 2 0Foreign exchange profit/loss 5 1







BankPozitif Kredi ve Kalk nma Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-187

II-188

Credit Agricole Yat r m Bankas Türk A. .

Assets(USD Million)








Loans 0 0 0 0.1 3 0 3 5.7Loans 0 0 0 0.1 3 0 3 5.7













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.1 0 0 0 0.1




Total Assets 37 6 43 100.0 41 5 46 100.0

II-189

Credit Agricole Yat r m Bankas Türk A. . December 2009

















Profit or loss -65 0 -65 -149.0 -69 0 -69 -149.6Prior years income/loss -71 0 -71 -163.7 -69 0 -69 -148.9Current year income/loss 6 0 6 14.8 0 0 0 -0.7


II-190

Credit Agricole Yat r m Bankas Türk A. .









Dec. 2009 Dec. 2008










Net Operating Profit/Loss 8 0Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 8 0Provisions for Taxes on Income from Continuing Operations (±) -1 0Net Profit/Loss from Continuing Operations 6 0Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



Credit Agricole Yat r m Bankas Türk A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality




Loans Under Follow-up (gross) / Total Loans and Receivables 11,661.4 127.0





Liquidity


Liquid Assets / Short-term Liabilities 1,187.2 661.9


Profitability

Net Profit/Losses / Total Assets 14.8 -0.7

Net Profit/Losses / Total Shareholders' Equity 18.0 -1.1









II-191

II-192

Diler Yat r m Bankas A. .

Assets(USD Million)








Loans 52 6 57 90.5 25 3 28 31.0Loans 52 6 57 90.5 25 3 28 31.0













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.1 0 0 0 0.0




Total Assets 54 9 63 100.0 54 36 90 100.0

II-193

Diler Yat r m Bankas A. . December 2009



















II-194

Diler Yat r m Bankas A. .









Dec. 2009 Dec. 2008













Diler Yat r m Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-195

II-196

GSD Yat r m Bankas A. .

Assets(USD Million)








Loans 52 1 53 76.3 24 1 25 50.8Loans 50 1 51 73.3 22 1 23 46.3













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.1




Total Assets 63 6 69 100.0 42 8 50 100.0

II-197

GSD Yat r m Bankas A. . December 2009















Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 1 0 1 0.8 -3 0 -3 -5.3Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 2 0 2 2.6 10 0 10 20.0




II-198

GSD Yat r m Bankas A. .






Custody and Pledged Securities 729 297 1,026 667 300 967Items held in Custody 3 0 3 2 0 2Pledged Items 132 66 198 124 72 196Acccepted independent guaran. and warran. 594 232 826 541 228 769

Total Off Balance Sheet Commitments 781 309 1,090 714 327 1,041


Dec. 2009 Dec. 2008










Net Operating Profit/Loss 2 7Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 2 7Provisions for Taxes on Income from Continuing Operations (±) 0 -1Net Profit/Loss from Continuing Operations 2 6Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0



GSD Yat r m Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-199

II-200

ller Bankas

Assets(USD Million)





Banks 1,078 4 1,082 20.1 888 6 894 19.7Money Market Securities 3 0 3 0.1 12 0 12 0.3



Loans 4,012 139 4,152 77.1 3,461 55 3,516 77.4Loans 4,012 139 4,152 77.1 3,461 55 3,516 77.4













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 5,240 145 5,385 100.0 4,480 61 4,541 100.0

II-201

ller Bankas December 2009














Paid-in capital 3,152 0 3,152 58.5 2,513 0 2,513 55.3Supplementary capital 592 0 592 11.0 578 0 578 12.7





II-202

ller Bankas



Guarantees and Warranties 1,004 0 1,004 538 4 543Letters of guarantee 1,004 0 1,004 538 4 543Bank acceptances 0 0 0 0 0 0Letters of credit 0 0 0 0 0 0Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 0 0 0 0 0



Custody and Pledged Securities 937 92 1,030 1,168 100 1,268Items held in Custody 937 92 1,030 1,168 100 1,268Pledged Items 0 0 0 0 0 0Acccepted independent guaran. and warran. 0 0 0 0 0 0

Total Off Balance Sheet Commitments 2,244 289 2,532 1,707 381 2,087


Dec. 2009 Dec. 2008













ller Bankas December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-203

II-204

MKB Takas ve Saklama Bankas A. .

Assets(USD Million)








Loans 5 0 5 0.5 4 0 4 0.4Loans 4 0 4 0.4 4 0 4 0.4













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 982 20 1,003 100.0 916 10 925 100.0

II-205

MKB Takas ve Saklama Bankas A. . December 2009


















Total Liabilities 983 19 1,003 100.0 916 9 925 100.0

II-206

MKB Takas ve Saklama Bankas A. .



Guarantees and Warranties 1,114 0 1,114 790 0 790Letters of guarantee 0 0 0 0 0 0Bank acceptances 0 0 0 0 0 0Letters of credit 0 0 0 0 0 0Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 1,114 0 1,114 790 0 790



Custody and Pledged Securities 4,421,206 244 4,421,450 3,379,860 134 3,379,994Items held in Custody 4,419,424 0 4,419,424 3,378,213 0 3,378,213Pledged Items 1,782 244 2,026 1,647 134 1,781Acccepted independent guaran. and warran. 0 0 0 0 0 0

Total Off Balance Sheet Commitments 4,422,320 244 4,422,564 3,380,650 134 3,380,784


Dec. 2009 Dec. 2008













MKB Takas ve Saklama Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality






Specific Provisions / Loans Under Follow-up 12.2 -



Liquidity




Profitability











II-207

II-208

Merrill Lynch Yat r m Bank A. .

Assets(USD Million)








Loans 0 0 0 0.0 0 0 0 0.0Loans 0 0 0 0.0 0 0 0 0.0













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.2 0 0 0 0.5




Total Assets 110 29 139 100.0 51 6 57 100.0

II-209

Merrill Lynch Yat r m Bank A. . December 2009

















Profit or loss -2 0 -2 -1.2 -7 0 -7 -11.6Prior years income/loss -7 0 -7 -4.9 -6 0 -6 -10.2Current year income/loss 5 0 5 3.7 -1 0 -1 -1.5


II-210

Merrill Lynch Yat r m Bank A. .









Dec. 2009 Dec. 2008










Net Operating Profit/Loss 7 -1Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations 7 -1Provisions for Taxes on Income from Continuing Operations (±) -1 0Net Profit/Loss from Continuing Operations 5 -1Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0

Net Profit/Losses 5 -1


Merrill Lynch Yat r m Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability

Net Profit/Losses / Total Assets 3.7 -1.5

Net Profit/Losses / Total Shareholders' Equity 16.1 -3.2









II-211

II-212

Nurol Yat r m Bankas A. .

Assets(USD Million)








Loans 22 41 64 54.1 23 27 50 56.6Loans 22 41 63 53.3 20 27 47 54.0













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.1 0 0 0 0.0




Total Assets 47 70 117 100.0 37 50 88 100.0

II-213

Nurol Yat r m Bankas A. . December 2009



















II-214

Nurol Yat r m Bankas A. .









Dec. 2009 Dec. 2008






Profit/loss on trading account securities 0 0Profit/losses on derivative financial transactions 0 0Foreign exchange profit/loss 1 -1







Nurol Yat r m Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-215

II-216

Taib Yat r m Bank A. .

Assets(USD Million)








Loans 0 0 0 0.6 1 0 1 4.2Loans 0 0 0 0.6 1 0 1 4.2













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.2 0 0 0 0.1




Total Assets 17 0 17 100.0 12 2 14 100.0

II-217

Taib Yat r m Bank A. . December 2009

















Profit or loss -8 0 -8 -44.5 -5 0 -5 -37.7Prior years income/loss -5 0 -5 -32.2 -3 0 -3 -23.3Current year income/loss -2 0 -2 -12.3 -2 0 -2 -14.3


II-218

Taib Yat r m Bank A. .









Dec. 2009 Dec. 2008










Net Operating Profit/Loss -2 -2Surplus written as gain after merger 0 0Profit/losses from equity method applied subsidiaries 0 0Net monetory position gain/loss 0 0Profit/Loss Before Taxes from Continuing Operations -2 -2Provisions for Taxes on Income from Continuing Operations (±) 0 0Net Profit/Loss from Continuing Operations -2 -2Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 0Net Profit/Loss from Terminated Operations 0 0

Net Profit/Losses -2 -2


Taib Yat r m Bank A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios



(Shareholders' Equity - Permanent Assets) / Total Assets -26.9 20.1






FC Assets / FC Liabilities 105.6 1,452.5





Assets Quality









Liquidity




Profitability

Net Profit/Losses / Total Assets -12.3 -14.3

Net Profit/Losses / Total Shareholders' Equity -19.1 -15.9

Profit/Losses Before Taxes after Continuing Operations / Total Assets -12.3 -14.3








II-219

II-220

Türk Eximbank

Assets(USD Million)








Loans 898 1,730 2,628 60.2 1,423 1,209 2,632 81.0Loans 898 1,730 2,628 60.2 1,423 1,209 2,632 81.0

Loans granted to the Banks risk group 0 0 0 0.0 0 0 0 0.0Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 898 1,730 2,628 60.2 1,423 1,209 2,632 81.0












Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 2,146 2,216 4,362 100.0 1,957 1,291 3,248 100.0

II-221

Türk Eximbank December 2009




Derivative Finan. Liabilities Held for Trading 0 3 4 0.1 0 4 4 0.1Funds Borrowed 0 1,220 1,220 28.0 0 586 586 18.1Money Market Takings 0 0 0 0.0 0 10 10 0.3










Paid-in capital 1,345 0 1,345 30.8 872 0 872 26.8Supplementary capital 408 0 408 9.4 508 0 508 15.6

Share premium 0 0 0 0.0 0 0 0 0.0Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 5 0 5 0.1 -1 0 -1 0.0Revaluation changes of property and equip. 0 0 0 0.0 0 0 0 0.0Revaluation changes of intangible assets 0 0 0 0.0 0 0 0 0.0Revaluation changes of real est.for inv. pur. 0 0 0 0.0 0 0 0 0.0Free shares from inv.&ass.,subs.& joint vent. 0 0 0 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 0 0 0 0.0Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 403 0 403 9.2 509 0 509 15.7



Total Liabilities 2,784 1,579 4,362 100.0 2,304 944 3,248 100.0

II-222

Türk Eximbank







Total Off Balance Sheet Commitments 399 1,219 1,618 89 581 671


Dec. 2009 Dec. 2008



Net Interest Income/Expenses 260 277Net Fees and Commissions Income/Expenses -4 -2










Türk Eximbank December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity


Liquid Assets / Short-term Liabilities 12,739.0 2,064.8


Profitability











II-223

II-224

Türkiye Kalk nma Bankas A. .

Assets(USD Million)








Loans 163 377 539 62.3 166 221 387 57.5Loans 144 377 521 60.2 166 221 387 57.5













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 1 0 1 0.1




Total Assets 434 432 865 100.0 423 250 673 100.0

II-225

Türkiye Kalk nma Bankas A. . December 2009



















II-226

Türkiye Kalk nma Bankas A. .









Dec. 2009 Dec. 2008













Türkiye Kalk nma Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity


Liquid Assets / Short-term Liabilities 2,877.8 3,474.2


Profitability











II-227

II-228

Türkiye S nai Kalk nma Bankas A. .

Assets(USD Million)








Loans 1,109 1,459 2,568 55.3 1,070 1,341 2,411 59.1Loans 1,109 1,459 2,568 55.3 1,070 1,341 2,411 59.1

Loans granted to the Banks risk group 137 52 190 4.1 85 43 128 3.1Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 972 1,407 2,379 51.2 985 1,297 2,283 56.0












Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.0 0 0 0 0.0




Total Assets 2,716 1,926 4,642 100.0 2,113 1,967 4,080 100.0

II-229

Türkiye S nai Kalk nma Bankas A. . December 2009














Paid-in capital 403 0 403 8.7 329 0 329 8.1Supplementary capital 46 9 55 1.2 -4 -20 -24 -0.6





II-230

Türkiye S nai Kalk nma Bankas A. .





Derivative Financial Instruments 190 1,387 1,578 170 681 851Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 190 1,387 1,578 170 681 851

Custody and Pledged Securities 1,796 7,929 9,725 1,333 6,290 7,623Items held in Custody 1,146 71 1,217 1,129 55 1,185Pledged Items 650 7,858 8,509 203 6,235 6,438Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2009 Dec. 2008






Profit/loss on trading account securities 1 -14Profit/losses on derivative financial transactions 1 0Foreign exchange profit/loss -1 -4







Türkiye S nai Kalk nma Bankas A. . December 2009

Ratios(%)

Dec. 2009 Dec. 2008

Capital Ratios














Assets Quality









Liquidity




Profitability











II-231

II-233

Appendix

II-234

Tab

le 1

Tu

rkis

h B

anks

- R

anke

d b

y T

ota

l Ass

ets,

as

of

Dec

emb

er 3

1, 2

009

Ban

ksG

rou

ps

Dat

e o

f E

stab

lish

.

To

tal

Ass

ets

(US

DM

illio

n)

To

tal

Lo

ans

and

Rec

eiv.

*(U

SD

Mill

ion

)

To

tal

Dep

osi

ts(U

SD

Mill

ion

)

To

tal

Sh

are-

ho

lder

s'E

qu

ity

(US

DM

illio

n)

Pai

d-i

nC

apit

al(U

SD

Mill

ion

)

Net

Inco

me/

Lo

ss(U

SD

Mill

ion

)

Off

Bal

ance

Sh

eet

Co

mm

it.

(US

DM

illio

n)

No

.of

Bra

nch

Off

ices

No

.of

Em

p'e

es

1Tü

rkiy

e C

umhu

riyet

i Zira

at B

anka

s A

..

Sta

te-o

wne

d D

epos

it B

anks

1863

83,7

2824

,692

66,2

476,

962

1,68

12,

361

82,0

631,

316

22,1

982

Türk

iye

Ban

kas

A.

.P

rivat

ely-

owne

d D

epos

it B

anks

1924

76,1

2732

,498

48,5

299,

072

2,07

11,

595

111,

953

1,09

322

,473

3Tü

rkiy

e G

aran

ti B

anka

s A

..

Priv

atel

y-ow

ned

Dep

osit

Ban

ks19

4670

,908

33,4

3842

,230

8,95

32,

824

1,99

225

7,89

078

816

,827

4A

kban

k T.

A.

.P

rivat

ely-

owne

d D

epos

it B

anks

1948

64,0

8226

,705

37,5

529,

541

2,01

71,

833

80,2

7487

814

,714

5Tü

rkiy

e V

akfla

r Ban

kas

T.A

.O.

Sta

te-o

wne

d D

epos

it B

anks

1954

43,5

6723

,245

30,0

224,

963

1,68

184

176

,760

545

10,1

536

Yap

ve

Kre

di B

anka

s A

..

Priv

atel

y-ow

ned

Dep

osit

Ban

ks19

4443

,408

25,4

5427

,455

5,55

92,

923

911

108,

450

838

14,3

337

Türk

iye

Hal

k B

anka

s A

..

Sta

te-o

wne

d D

epos

it B

anks

1938

40,7

7921

,823

29,5

503,

872

840

1,09

726

7,26

566

912

,505

8Fi

nans

Ban

k A

..

Fore

ign

Ban

ks19

8719

,712

11,7

9813

,627

2,43

91,

059

437

58,6

6046

110

,107

9D

eniz

bank

A.

.Fo

reig

n B

anks

1997

14,2

579,

528

7,82

41,

769

481

358

57,0

7045

07,

789

10IN

G B

ank

A.

.Fo

reig

n B

anks

1984

10,2

427,

399

6,42

31,

311

1,16

712

573

,428

359

6,11

011

Türk

Eko

nom

i Ban

kas

A.

.P

rivat

ely-

owne

d D

epos

it B

anks

1927

10,1

286,

045

6,33

51,

109

740

141

106,

634

334

5,87

112

HS

BC

Ban

k A

..

Fore

ign

Ban

ks19

909,

312

5,88

45,

997

1,67

743

916

624

,697

336

6,43

013

Forti

s B

ank

A.

.Fo

reig

n B

anks

1964

7,58

04,

675

3,90

61,

319

706

7518

,521

297

5,00

714

eker

bank

T.A

..

Priv

atel

y-ow

ned

Dep

osit

Ban

ks19

536,

021

3,29

94,

464

840

336

103

47,2

2925

63,

938

15lle

r Ban

kas

Dev

't an

d In

v't

Ban

ks19

335,

385

4,15

20

4,18

53,

152

232

2,53

219

3,04

216

Türk

iye

Sna

i Kal

knm

a B

anka

s A

..

Dev

't an

d In

v't

Ban

ks19

504,

642

2,56

80

700

403

118

12,3

634

310

17Tü

rk E

xim

bank

Dev

't an

d In

v't

Ban

ks19

874,

362

2,62

80

2,45

91,

345

230

1,61

82

382

18C

itiba

nk A

..

Fore

ign

Ban

ks19

803,

280

1,40

32,

431

573

2351

22,5

6337

1,85

119

Eur

oban

k Te

kfen

A.

.Fo

reig

n B

anks

1992

2,59

385

01,

245

297

255

157,

432

4274

320

Ana

dolu

bank

A.

.P

rivat

ely-

owne

d D

epos

it B

anks

1996

2,57

41,

634

1,65

742

427

581

6,06

186

1,85

121

Alte

rnat

if B

ank

A.

.P

rivat

ely-

owne

d D

epos

it B

anks

1992

2,44

01,

833

1,71

329

220

241

5,49

646

999

22Te

kstil

Ban

kas

A.

.P

rivat

ely-

owne

d D

epos

it B

anks

1986

1,43

41,

060

975

315

282

93,

391

4594

023

Deu

tsch

e B

ank

A.

.Fo

reig

n B

anks

1988

1,28

446

383

277

9171

13,4

701

9024

Ban

kPoz

itif K

redi

ve

Kal

knm

a B

anka

s A

..D

ev't

and

Inv'

t B

anks

1999

1,07

380

90

299

227

184,

281

426

3

II-235

Ban

ksG

rou

ps

Dat

e o

f E

stab

lish

.

To

tal

Ass

ets

(US

DM

illio

n)

To

tal

Lo

ans

and

Rec

eiv.

*(U

SD

Mill

ion

)

To

tal

Dep

osi

ts(U

SD

Mill

ion

)

To

tal

Sh

are-

ho

lder

s'E

qu

ity

(US

DM

illio

n)

Pai

d-i

nC

apit

al(U

SD

Mill

ion

)

Net

Inco

me/

Lo

ss(U

SD

Mill

ion

)

Off

Bal

ance

Sh

eet

Co

mm

it.

(US

DM

illio

n)

No

.of

Bra

nch

Off

ices

No

.of

Em

p'e

es

25M

KB

Tak

as v

e S

akla

ma

Ban

kas

A.

.D

ev't

and

Inv'

t B

anks

1995

1,00

35

018

840

254,

422,

564

120

526

Türk

iye

Kal

knm

a B

anka

s A

..

Dev

't an

d In

v't

Ban

ks19

7586

553

90

336

108

175,

101

174

127

The

Roy

al B

ank

of S

cotla

nd N

.V.

Fore

ign

Ban

ks19

2180

512

849

224

273

474,

921

816

428

Turk

land

Ban

k A

..

Fore

ign

Ban

ks19

9177

048

656

614

511

42

3,31

625

464

29M

illen

nium

Ban

k A

..

Fore

ign

Ban

ks19

8472

048

959

882

136

-12

5,92

218

303

30Tu

rkis

h B

ank

A.

.P

rivat

ely-

owne

d D

epos

it B

anks

1982

690

157

356

102

541

976

2527

631

Ara

p Tü

rk B

anka

s A

..

Fore

ign

Ban

ks19

7764

923

512

019

016

117

1,30

36

230

32B

irle

ik F

on B

anka

s A

..

Ban

ks U

nder

the

Dep

.Ins.

Fund

1958

542

819

426

310

372,

905

126

133

Akt

if Y

atrm

Ban

kas

A.

.D

ev't

and

Inv'

t B

anks

1999

389

200

011

510

46

542

523

634

Wes

tLB

AG

Fore

ign

Ban

ks19

8537

424

166

104

3620

356

142

35B

ank

Mel

lat

Fore

ign

Ban

ks19

8226

615

384

5036

1249

351

36S

ocié

té G

énér

ale

(SA

)Fo

reig

n B

anks

1989

242

105

7815

46-1

146

316

230

37M

erril

l Lyn

ch Y

atrm

Ban

k A

..

Dev

't an

d In

v't

Ban

ks19

9213

90

032

345

140

133

38JP

Mor

gan

Cha

se B

ank

N.A

.Fo

reig

n B

anks

1984

134

05

115

6715

992

149

39N

urol

Yat

rm B

anka

s A

..

Dev

't an

d In

v't

Ban

ks19

9911

764

036

302

198

346

40G

SD

Yat

rm B

anka

s A

..

Dev

't an

d In

v't

Ban

ks19

9869

530

4534

21,

090

126

41D

iler Y

atrm

Ban

kas

A.

.D

ev't

and

Inv'

t B

anks

1998

6357

054

405

971

1942

Hab

ib B

ank

Lim

ited

Fore

ign

Ban

ks19

8349

97

2720

244

116

43C

redi

t Agr

icol

e Y

atrm

Ban

kas

Tür

k A

..

Dev

't an

d In

v't

Ban

ks19

9043

00

3627

630

51

1944

Ada

bank

A.

.P

rivat

ely-

owne

d D

epos

it B

anks

1985

340

529

541

121

4845

Taib

Yat

rm B

ank

A.

.D

ev't

and

Inv'

t B

anks

1987

170

011

18-2

11

17T

ota

l53

6,90

125

6,17

734

1,06

071

,584

26,7

6213

,096

5,90

1,39

79,

027

172,

402

* T

otal

Loa

ns a

nd R

ecei

vabl

es =

Loa

ns a

nd R

ecei

vabl

es +

Loa

ns u

nder

Fol

low

up

- S

peci

fic P

rovi

sion

s

II-236

Tab

le 2

Nu

mb

er o

f B

ran

ches

an

d E

mp

loye

es b

y th

e B

anks

an

d G

rou

ps,

as

of

Dec

emb

er 3

1, 2

009

No

. of

Ban

ksN

o. o

f B

ran

ches

No

. of

Em

plo

yees

No

. of

Ban

ksN

o. o

f B

ran

ches

No

. of

Em

plo

yees

Sec

tor

To

tal

459,

027

172,

402

Priv

atel

y-ow

ned

Dep

osit

Ban

ks c

ontin

ued…

Dep

osi

t B

anks

328,

983

167,

063

eker

bank

T.A

..

256

3,93

8Te

kstil

Ban

kas

A.

. 45

940

Sta

te-o

wn

ed B

anks

32,

530

44,8

56Tu

rkis

h B

ank

A.

.25

276

Türk

Eko

nom

i Ban

kas

A.

.33

45,

871

Türk

iye

Cum

huriy

eti Z

iraat

Ban

kas

A.

.1,

316

22,1

98Tü

rkiy

e G

aran

ti B

anka

s A

..

788

16,8

27Tü

rkiy

e H

alk

Ban

kas

A.

.66

912

,505

Türk

iye

Ban

kas

A.

.1,

093

22,4

73Tü

rkiy

e V

akfla

r Ban

kas

T.A

.O.

545

10,1

53Y

ap v

e K

redi

Ban

kas

A.

.83

814

,333

Pri

vate

ly-o

wn

ed B

anks

114,

390

82,2

70

Ada

bank

A.

.1

48B

anks

Un

der

Dep

o. I

nsu

ran

ce F

un

d1

126

1A

kban

k T.

A.

.87

814

,714

Alte

rnat

if B

ank

A.

.46

999

Birl

eik

Fon

Ban

kas

A.

.1

261

Ana

dolu

bank

A.

.86

1,85

1

II-237

No

. of

Ban

ksN

o. o

f B

ran

ches

No

. of

Em

plo

yees

No

. of

Ban

ksN

o. o

f B

ran

ches

No

. of

Em

plo

yees

Fo

reig

n B

anks

172,

062

39,6

76D

evel

op

men

t an

d In

vest

men

t B

anks

1344

5,33

9

Ara

p Tü

rk B

anka

s A

..

623

0A

ktif

Yat

rm B

anka

s A

..

523

6B

ank

Mel

lat

351

Ban

kPoz

itif K

redi

ve

Kal

knm

a B

anka

s A

..

426

3C

itiba

nk A

..

371,

851

Cre

dit A

gric

ole

Yat

rm B

anka

s T

ürk

A.

.1

19D

eniz

bank

A.

.45

07,

789

Dile

r Yat

rm B

anka

s A

..

119

Deu

tsch

e B

ank

A.

.1

90G

SD

Yat

rm B

anka

s A

..

126

Eur

oban

k Te

kfen

A.

.42

743

ller B

anka

s19

3,04

2Fi

nans

Ban

k A

..

46

110

,107

MK

B T

akas

ve

Sak

lam

a B

anka

s A

..

120

5Fo

rtis

Ban

k A

..

297

5,00

7M

erril

l Lyn

ch Y

atrm

Ban

k A

..

133

Hab

ib B

ank

Lim

ited

1

16N

urol

Yat

rm B

anka

s A

..

346

HS

BC

Ban

k A

..

336

6,43

0Ta

ib Y

atrm

bank

A.

.1

17IN

G B

ank

A.

.35

96,

110

Türk

Exi

mba

nk2

382

JPM

orga

n C

hase

Ban

k N

.A.

149

Türk

iye

Kal

knm

a B

anka

s A

..

174

1M

illen

nium

Ban

k A

..

1830

3Tü

rkiy

e S

nai K

alk

nma

Ban

kas

A.

.4

310

Soc

iéte

Gén

éral

e (S

A)

1623

0Th

e R

oyal

Ban

k of

Sco

tland

N.V

.8

164

Turk

land

Ban

k A

..

2546

4W

estL

B A

G1

42

II-238

Tab

le 3

Pre

sen

tati

on

of

Ass

ets

and

Lia

bili

ties

Acc

ord

ing

to

th

eir

Ou

tsta

nd

ing

Mat

uri

ties

, as

of

Dec

emb

er 3

1, 2

009

(US

D M

illio

n)

Dem

and

Up

to

1

Mo

nth

1-3

Mo

nth

s3

– 12

M

on

ths

1 –

5 Y

ears

5 Y

ears

an

d

Ove

rU

nd

istr

ibu

ted

To

tal

Ass

ets

Cas

h (c

ash

in v

ault,

effe

ctiv

es, m

oney

in

tran

sit,

cheq

ues

purc

hase

d) a

nd B

alan

ces

with

the

Cen

tral

Ban

k of

Tur

key

25,2

376,

662

1,28

714

75

00

33,3

38D

ue fr

om b

anks

4,

395

16,3

1198

136

23,

145

1,66

40

26,8

58F

inan

cial

ass

ets

whe

re fa

ir va

lue

chan

ge is

re

flect

ed to

inco

me

stat

emen

t1

689

1,14

21,

998

1,81

295

623

6,62

1M

oney

mar

ket p

lace

men

ts14

8,75

20

00

00

8,76

6

Mar

keta

ble

secu

ritie

s av

aila

ble

for

sale

277

2,60

77,

118

21,5

0259

,298

10,4

7884

101,

364

Loan

s5,

976

49,1

8527

,412

62,9

2284

,175

25,0

971,

452

256,

219

Inve

stm

ents

hel

d to

mat

urity

0

4,80

44,

671

12,8

9247

,771

10,1

870

80,3

25O

ther

ass

ets

1,23

51,

743

131

129

768

9519

,309

23,4

09T

ota

l ass

ets

37,1

3790

,752

42,7

4299

,952

196,

974

48,4

7720

,868

536,

901

Lia

bili

ties

Inte

rban

k de

posi

ts2,

238

7,38

21,

041

964

353

011

,664

Oth

er d

epos

its50

,507

216,

480

49,8

3712

,212

286

740

329,

396

Fun

ds p

rovi

ded

from

oth

er fi

nanc

ial

inst

rum

ents

2

4,06

73,

243

13,5

8019

,820

9,93

626

50,6

75M

oney

mar

ket t

akin

gs30

31,1

426,

964

2,48

533

724

90

41,2

07M

arke

tabl

e se

curit

ies

issu

ed0

135

1834

00

70M

isce

llane

ous

paya

bles

2,34

56,

399

497

196

101

015

99,

696

Oth

er li

abili

ties

2,38

93,

243

1,24

81,

619

4,76

62,

117

77,4

9392

,875

To

tal l

iab

iliti

es57

,511

268,

726

62,8

3631

,074

25,3

7812

,379

77,6

7953

5,58

20

00

00

00

0L

iqu

idit

y G

ap-2

0,37

4-1

77,9

74-2

0,09

468

,879

171,

595

36,0

98-5

6,81

11,

319

II-239

Tab

le 4

In

tere

st R

ate

Sen

siti

vity

of

Ass

ets,

Lia

bili

ties

an

d O

ff B

alan

ce S

hee

t It

ems,

as

of

Dec

emb

er 3

1, 2

009

(b

ased

on

rep

rici

ng

dat

es)

(US

D M

illio

n)

Up

to

1 M

on

th1

– 3

Mo

nth

s3

– 12

Mo

nth

s1

– 5

Y

ears

5 Y

ears

an

d

Ove

rD

eman

dT

ota

lA

sset

sC

ash

(cas

h in

vau

lt, e

ffect

ives

, mon

ey in

tran

sit,

cheq

ues

purc

hase

d) a

nd b

alan

ces

with

the

Cen

tral

Ban

k of

Tur

key

19,7

816

00

013

,523

33,3

11D

ue fr

om b

anks

17

,905

2,61

02,

424

00

2,43

825

,376

Fin

anci

al a

sset

s w

here

fair

valu

e ch

ange

is

refle

cted

to in

com

e st

atem

ent

682

1,22

81,

947

1,33

990

651

96,

621

Mon

ey m

arke

t pla

cem

ents

8,74

60

00

00

8,74

6F

inan

cial

ass

ets

avai

labl

e fo

r sa

le19

,737

23,1

6927

,486

22,1

756,

483

2,25

310

1,30

3Lo

ans

81,1

2836

,598

51,4

3563

,271

16,6

182,

897

251,

947

Inve

stm

ents

hel

d to

mat

urity

18

,177

33,2

848,

437

11,4

598,

779

189

80,3

25O

ther

ass

ets

618

163

7320

912

22,1

2323

,198

To

tal a

sset

s16

6,77

397

,058

91,8

0298

,452

32,7

9843

,942

530,

826

Lia

bili

ties

Inte

rban

k de

posi

ts8,

279

1,03

721

90

02,

066

11,6

01O

ther

dep

osits

218,

620

49,8

4312

,346

177

048

,117

329,

103

Mon

ey m

arke

t tak

ings

31,2

627,

036

2,59

024

40

4041

,172

Mis

cella

neou

s pa

yabl

es

2,31

633

9614

07,

143

9,60

1M

arke

tabl

e se

curit

ies

issu

ed13

419

340

070

Fun

ds p

rovi

ded

from

oth

er fi

nanc

ial i

nstit

utio

ns11

,433

22,1

5810

,072

4,74

454

855

149

,507

Oth

er li

abili

ties

1,33

71,

286

2,13

22,

798

252

80,6

5188

,455

To

tal l

iab

iliti

es27

3,25

981

,397

27,4

738,

011

800

138,

568

529,

508

On

bala

nce

shee

t int

eres

t sen

sitiv

ity g

ap-L

ong

3,18

922

,239

64,3

8190

,629

31,9

9814

321

2,57

9O

n ba

lanc

e sh

eet i

nter

est s

ensi

tivity

gap

-Sho

rt-1

09,6

75-6

,563

-66

-185

-2-9

4,76

9-2

11,2

61O

ff ba

lanc

e sh

eet i

nter

est s

ensi

tivity

gap

-Lon

g4,

070

4,12

21,

837

497

3031

810

,873

Off

bala

nce

shee

t int

eres

t sen

sitiv

ity g

ap-S

hort

-2,9

61-2

50-6

10-6

,115

-1,0

56-3

15-1

1,30

7

To

tal p

osi

tio

n-1

05,3

7619

,548

65,5

4284

,825

30,9

69-9

4,62

288

5

II-240

Tab

le 5

In

form

atio

n o

n C

urr

ency

Ris

k, a

s o

f D

ecem

ber

31,

200

9

(US

D M

illio

n)

EU

RO

US

DY

enO

ther

FC

To

tal

Ass

ets

Cas

h (c

ash

in v

ault,

effe

ctiv

es, m

oney

in tr

ansi

t, ch

eque

s pu

rcha

sed)

an

d ba

lanc

es w

ith th

e C

entr

al B

ank

of T

urke

y8,

286

4,97

02

340

13,5

98D

ue fr

om b

anks

11

,489

9,32

638

1,22

422

,076

Fin

anci

al a

sset

s w

here

fair

valu

e ch

ange

is r

efle

cted

to in

com

e st

atem

ent

198

544

74

752

Mon

ey m

arke

t pla

cem

ents

2265

90

068

1F

inan

cial

ass

ets

avai

labl

e fo

r sa

le3,

847

13,6

300

917

,486

Loan

s27

,650

51,7

6369

81,

516

81,6

26In

vest

. and

ass

ocia

tes,

sub

sidi

arie

s an

d jo

int v

entu

res

(bus

. par

tner

s)1,

759

326

051

2,13

6In

vest

men

ts h

eld

to m

atur

ity4,

572

11,8

040

416

,380

Der

ivat

ive

finan

cial

ass

ets

held

for

hedg

ing

012

00

12P

rope

rty

and

equi

pmen

t3

30

28

Inta

ngib

le a

sset

s0

10

02

Oth

er a

sset

s35

064

42

146

1,14

3T

ota

l Ass

ets

58,1

7693

,681

747

3,29

515

5,90

0

Lia

bili

ties

Inte

rban

k de

posi

ts2,

328

4,24

43

472

7,04

7F

orei

gn c

urre

ncy

depo

sits

44,9

3661

,868

662,

960

109,

830

Mon

ey m

arke

t tak

ings

1,11

74,

782

00

5,89

9F

unds

pro

vide

d fr

om o

ther

fina

ncia

l ins

titut

ions

15,3

4325

,846

102

6941

,360

Mar

keta

ble

secu

ritie

s is

sued

0

00

00

Mis

cella

neou

s pa

yabl

es

408

616

362

1,08

9D

eriv

ativ

e fin

anci

al li

abili

ties

held

for

hedg

ing

328

08

39O

ther

liab

ilitie

s2,

054

1,12

15

269

3,44

9T

ota

l lia

bili

ties

66,1

8898

,505

179

3,84

016

8,71

2

Net

On

Bal

ance

Sh

eet

Po

siti

on

-8,0

11-4

,824

568

-545

-12,

812

Net

Off

Bal

ance

She

et P

ositi

on7,

688

5,16

6-4

7261

612

,999

Fin

anci

al d

eriv

ativ

e as

sets

14,7

1038

,102

794

2,93

656

,542

Fin

anci

al d

eriv

ativ

e lia

bilit

ies

7,02

232

,936

1,26

62,

319

43,5

43N

on-c

ash

loan

s13

,318

24,5

7858

887

139

,355

II-241

Tab

le 6

S

avin

g D

epo

sits

, as

of

Dec

emb

er 3

1, 2

009(

US

D M

illio

n)

Nu

mb

er o

f S

avin

g D

epo

sits

(TR

Y)

(US

D M

illio

n)

(US

D M

illio

n)

(US

D M

illio

n)

(US

D M

illio

n)

(US

D M

illio

n)

(No

.of

Acc

.)(N

o.o

f A

cc.)

(No

.of

Acc

.)(U

SD

Mill

ion

)(N

o.o

f A

cc.)

Dem

and

6043

014

117

38,2

02,2

7719

,059

,756

13,1

6210

,388

,648

67,6

63,8

43 0

-50

Tim

e1

00

01

36,2

0361

,452

03,

403

101,

058

To

tal

6143

014

118

38,2

38,4

8019

,121

,208

13,1

6210

,392

,051

67,7

64,9

01

Dem

and

148

175

041

365

1,93

1,51

11,

869,

557

4,08

547

9,09

44,

284,

247

51-2

50T

ime

139

01

2313

7,68

293

,300

07,

463

238,

445

To

tal

161

184

042

388

2,06

9,19

31,

962,

857

4,08

548

6,55

74,

522,

692

Dem

and

574

729

114

81,

453

1,76

2,59

12,

418,

108

3,02

551

2,46

54,

696,

189

251-

1,00

0T

ime

113

630

618

128

2,86

515

4,98

80

13,4

8245

1,33

5T

ota

l68

779

21

154

1,63

42,

045,

456

2,57

3,09

63,

025

525,

947

5,14

7,52

4

Dem

and

1,06

81,

362

218

72,

618

820,

235

928,

545

1,36

413

2,17

81,

882,

322

1,00

1-5,

000

Tim

e1,

315

1,19

10

169

2,67

574

6,41

367

7,59

90

93,9

161,

517,

928

To

tal

2,38

32,

553

235

55,

293

1,56

6,64

81,

606,

144

1,36

422

6,09

43,

400,

250

Dem

and

1,25

41,

770

123

33,

259

223,

535

258,

555

194

34,5

5151

6,83

55,

001-

25,0

00T

ime

7,58

66,

954

01,

717

16,2

5795

2,92

787

4,25

40

205,

463

2,03

2,64

4T

ota

l8,

841

8,72

41

1,95

019

,516

1,17

6,46

21,

132,

809

194

240,

014

2,54

9,47

9

Dem

and

819

1,15

40

217

2,19

128

,575

38,3

9215

7,09

274

,074

25,0

01-1

00,0

00T

ime

13,8

5013

,976

05,

054

32,8

8043

4,29

443

0,87

90

159,

335

1,02

4,50

8T

ota

l14

,669

15,1

310

5,27

135

,071

462,

869

469,

271

1516

6,42

71,

098,

582

Dem

and

404

740

022

51,

369

3,01

65,

328

21,

389

9,73

5

1

00,0

01+

Tim

e24

,755

37,1

280

9,64

371

,525

116,

349

162,

915

050

,581

329,

845

To

tal

25,1

5837

,868

09,

868

72,8

9411

9,36

516

8,24

32

51,9

7033

9,58

0

Dem

and

4,32

85,

974

51,

065

11,3

7242

,971

,740

24,5

78,2

4121

,847

11,5

55,4

1779

,127

,245

To

tal

Tim

e47

,633

59,3

210

16,5

8812

3,54

22,

706,

733

2,45

5,38

70

533,

643

5,69

5,76

3T

ota

l51

,960

65,2

955

17,6

5413

4,91

445

,678

,473

27,0

33,6

2821

,847

12,0

89,0

6084

,823

,008

To

tal

Sta

te-

ow

ned

Ban

ks

Pri

vate

ly-

ow

ned

Ban

ks

Ban

ksu

nd

er t

he

Dep

osi

tIn

sura

nce

Fu

nd

Fo

reig

nB

anks

Ran

ge

of

Acc

ou

nts

Ter

ms

Sta

te-

ow

ned

Ban

ksT

ota

lF

ore

ign

Ban

ks

Pri

vate

ly-

ow

ned

Ban

ks

Ban

ksu

nd

er t

he

Dep

osi

tIn

sura

nce

Fu

nd

II-242

Tab

le 7

Nu

mb

er o

f D

epo

sit

Acc

ou

nt,

as

of

Dec

emb

er 3

1, 2

009

Ban

ksS

avin

gD

epo

sits

Pu

blic

Sec

tor

Dep

osi

tsC

om

mer

cial

Dep

osi

tsIn

terb

ank

Dep

osi

ts

Fo

reig

nC

urr

ency

Dep

osi

ts

Oth

erIn

stit

uti

on

sD

epo

sits

Pre

cio

us

Met

als

Dep

osi

tsT

ota

l

Dep

osi

t B

anks

84

,823

,008

231,

341

5,87

1,58

118

,586

12,0

62,6

3550

6,98

312

3,64

310

3,63

7,77

7

Sta

te-o

wn

ed B

anks

45,6

78,4

7317

4,11

71,

710,

969

1,28

23,

503,

022

348,

593

59,2

0951

,475

,665

Türk

iye

Cum

huriy

eti Z

iraat

Ban

kas

A.

.32

,611

,684

110,

953

392,

762

480

1,87

9,44

117

9,96

50

35,1

75,2

85Tü

rkiy

e H

alk

Ban

kas

A.

.5,

701,

903

21,8

2262

9,44

458

170

9,03

056

,709

59,2

097,

178,

698

Türk

iye

Vak

flar B

anka

s T

.A.O

.

7,36

4,88

641

,342

688,

763

221

914,

551

111,

919

09,

121,

682

Pri

vate

ly-o

wn

ed B

anks

27,0

33,6

2846

,686

3,29

2,33

013

,834

6,12

3,55

713

4,37

057

,516

36,7

01,9

21

Ada

bank

A.

.79

019

038

00

136

Akb

ank

T.A

..

3,05

6,09

18,

977

307,

949

8547

1,54

325

,725

03,

870,

370

Alte

rnat

if B

ank

A.

.20

,089

146,

992

2513

,000

145

040

,265

Ana

dolu

bank

A.

.99

,187

2124

,464

4926

,238

469

015

0,42

8ek

erba

nk T

.A.

.43

9,76

472

582

,477

8190

,577

4,95

776

618,

657

Teks

til B

anka

s A

..

29,7

7627

7,24

70

15,0

9937

90

52,5

28Tu

rkis

h B

ank

A.

.7,

033

11,

485

314,

373

266

013

,189

Türk

Eko

nom

i Ban

kas

A.

.1,

500,

388

2,80

234

9,18

81,

221

355,

653

3,64

995

92,

213,

860

Türk

iye

Gar

anti

Ban

kas

A.

.3,

509,

099

2,97

926

0,13

242

760

8,72

69,

291

22,3

384,

412,

992

Türk

iye

Ban

kas

A.

.15

,716

,348

30,0

471,

812,

183

11,5

654,

020,

610

81,8

9221

,416

21,6

94,0

61Y

ap v

e K

redi

Ban

kas

A.

.2,

655,

774

1,09

344

0,19

435

051

7,70

07,

597

12,7

273,

635,

435

II-243

Ban

ksS

avin

gD

epo

sits

Pu

blic

Sec

tor

Dep

osi

tsC

om

mer

cial

Dep

osi

tsIn

terb

ank

Dep

osi

ts

Fo

reig

nC

urr

ency

Dep

osi

ts

Oth

erIn

stit

uti

on

sD

epo

sits

Pre

cio

us

Met

als

Dep

osi

tsT

ota

l

Ban

ks U

nd

er D

epo

. In

sura

nce

Fu

nd

21,8

4718

9,56

046

6,11

431

274

37,8

90

Birl

eik

Fon

Ban

kas

A.

.21

,847

189,

560

466,

114

3127

437

,890

Fo

reig

n B

anks

12,0

89,0

6010

,520

858,

722

3,42

42,

429,

942

23,9

896,

644

15,4

22,3

01

Ara

p Tü

rk B

anka

s A

..

803

042

848

1,98

010

03,

269

Ban

k M

ella

t97

016

526

1,39

65

01,

689

Citi

bank

A.

.38

,145

02,

188

021

,539

00

61,8

72D

eniz

bank

A.

.78

0,68

21,

530

144,

260

189

479,

162

3,80

548

61,

410,

114

Deu

tsch

e B

ank

A.

.0

01,

204

6213

644

01,

446

Eur

oban

k Te

kfen

A.

.30

,195

146,

370

2913

,456

237

050

,301

Fina

ns B

ank

A.

.93

8,01

01,

099

124,

838

132

194,

964

4,60

40

1,26

3,64

7Fo

rtis

Ban

k A

..

411,

838

565

95,5

151,

128

63,7

521,

726

5,96

958

0,49

3H

abib

Ban

k Li

mite

d

800

889

224

20

403

HS

BC

Ban

k A

..

3,10

8,41

520

014

6,28

951

615,

182

2,38

918

93,

872,

715

ING

Ban

k A

..

6,75

3,39

37,

112

330,

607

1,69

41,

019,

392

11,1

230

8,12

3,32

1JP

Mor

gan

Cha

se B

ank

N.A

.0

06

52

10

14M

illen

nium

Ban

k A

..

18,1

040

2,27

17

12,8

4116

033

,239

Soc

iéte

Gén

éral

e (S

A)

00

583

280

089

The

Roy

al B

ank

of S

cotla

nd N

.V.

60

517

2056

01

01,

104

Turk

land

Ban

k A

..

9,29

20

3,84

319

5,26

425

018

,443

Wes

tLB

AG

00

752

641

014

2

II-244

Tab

le 8

Mat

uri

ty S

tru

ctu

re o

f D

epo

sits

, as

of

Dec

emb

er 3

1, 2

009

(US

D M

illio

n)

Dem

and

Dep

osi

tsW

ith

7 d

ays

mat

uri

tyU

p t

o 1

m

on

th1-

3 M

on

th3-

6 M

on

th6

Mo

nth

-1

Yea

r1

Yea

r an

d

ove

rC

um

ula

tive

dep

osi

tT

ota

lD

epo

sits

Sta

te-o

wn

ed B

anks

18,2

760

25,4

0571

,618

5,28

21,

417

3,68

035

125,

713

Sav

ing

Dep

osits

4,32

80

9,48

835

,896

1,55

332

534

229

51,9

60P

ublic

Sec

tor

Dep

osits

5,32

90

1,72

85,

203

258

15

012

,524

Com

mer

cial

Dep

osits

2,80

80

4,11

39,

693

657

235

129

017

,635

Inte

rban

k D

epos

its18

40

2,02

977

013

138

130

3,16

5F

orei

gn C

urre

ncy

Dep

osits

3,82

50

6,66

013

,782

1,72

477

53,

176

629

,947

Oth

er In

stitu

tions

Dep

osits

1,67

70

1,38

76,

275

959

4315

010

,356

Pre

ciou

s M

etal

s D

epos

its12

50

00

00

00

125

Pri

vate

ly-o

wn

ed B

anks

27,8

447

54,6

4076

,010

4,90

43,

118

4,67

869

171,

270

Sav

ing

Dep

osits

5,97

42

23,8

7833

,127

1,12

375

043

28

65,2

95P

ublic

Sec

tor

Dep

osits

983

071

228

40

100

1,29

6C

omm

erci

al D

epos

its6,

861

08,

278

13,4

3240

612

359

50

29,6

96In

terb

ank

Dep

osits

1,50

10

1,54

72,

285

335

214

770

5,96

1F

orei

gn C

urre

ncy

Dep

osits

11,7

605

20,0

2623

,897

2,95

82,

020

3,33

661

64,0

62O

ther

Inst

itutio

ns D

epos

its30

80

837

3,01

266

322

20

4,44

9P

reci

ous

Met

als

Dep

osits

456

03

2812

76

051

2

Ban

ks U

nd

er t

he

Dep

. In

s. F

un

d19

00

00

00

019

Sav

ing

Dep

osits

50

00

00

00

5P

ublic

Sec

tor

Dep

osits

00

00

00

00

0C

omm

erci

al D

epos

its2

00

00

00

02

Inte

rban

k D

epos

its0

00

00

00

00

For

eign

Cur

renc

y D

epos

its11

00

00

00

011

Oth

er In

stitu

tions

Dep

osits

00

00

00

00

0P

reci

ous

Met

als

Dep

osits

00

00

00

00

0

II-245

Dem

and

Dep

osi

tsW

ith

7 d

ays

mat

uri

tyU

p t

o 1

m

on

th1-

3 M

on

th3-

6 M

on

th6

Mo

nth

-1

Yea

r1

Yea

r an

d

ove

rC

um

ula

tive

dep

osi

tT

ota

lD

epo

sits

Fo

reig

n B

anks

6,60

60

13,9

6720

,989

926

563

883

1843

,952

Sav

ing

Dep

osits

1,06

50

4,73

911

,463

241

103

3012

17,6

54P

ublic

Sec

tor

Dep

osits

296

021

192

00

00

509

Com

mer

cial

Dep

osits

1,66

60

2,80

42,

803

183

220

07,

477

Inte

rban

k D

epos

its55

30

838

321

5615

755

02,

538

For

eign

Cur

renc

y D

epos

its2,

913

05,

505

6,02

638

442

096

615

,350

Oth

er In

stitu

tions

Dep

osits

840

5718

463

30

039

2P

reci

ous

Met

als

Dep

osits

280

31

00

00

32

To

tal

52,7

457

94,0

1216

8,61

811

,112

5,09

89,

241

122

340,

953

Sav

ing

Dep

osits

11,3

722

38,1

0580

,487

2,91

71,

178

805

4913

4,91

4P

ublic

Sec

tor

Dep

osits

6,60

90

1,82

05,

623

262

115

014

,329

Com

mer

cial

Dep

osits

11,3

380

15,1

9525

,928

1,24

638

072

40

54,8

11In

terb

ank

Dep

osits

2,23

80

4,41

53,

377

522

267

845

011

,663

For

eign

Cur

renc

y D

epos

its18

,509

532

,191

43,7

045,

066

3,21

56,

608

7310

9,37

1O

ther

Inst

itutio

ns D

epos

its2,

070

02,

282

9,47

11,

088

4923

80

15,1

97P

reci

ous

Met

als

Dep

osits

609

05

2912

76

066

8

II-246

Tab

le 9

C

lass

ific

atio

n o

f D

epo

sits

, as

of

Dec

emb

er 3

1, 2

009

(US

D M

illio

n)

Ban

ksS

avin

gD

epo

sits

Pu

blic

Sec

tor

Dep

osi

tsC

om

mer

cial

Dep

osi

tsIn

terb

ank

Dep

osi

ts

Fo

reig

nC

urr

ency

Dep

osi

ts

Oth

erIn

stit

uti

on

sD

epo

sits

Pre

cio

us

Met

als

Dep

osi

tsT

ota

l

Sec

tor

To

tal

134,

914

14,3

2954

,811

11,6

6310

9,37

115

,197

668

340,

953

Sta

te-o

wn

ed D

epo

sit

Ban

ks51

,960

12,5

2417

,635

3,16

529

,947

10,3

5612

512

5,71

3

Türk

iye

Cum

huriy

eti Z

iraat

Ban

kas

A.

.33

,739

7,38

96,

978

401

12,3

825,

359

066

,247

Türk

iye

Hal

k B

anka

s A

..

12,3

291,

295

3,70

51,

292

9,19

11,

508

125

29,4

43Tü

rkiy

e V

akfla

r Ban

kas

T.A

.O.

5,

893

3,84

16,

953

1,47

28,

374

3,48

90

30,0

22

Pri

vate

ly-o

wn

ed D

epo

sit

Ban

ks65

,295

1,29

629

,696

5,96

164

,062

4,44

951

217

1,27

0

Ada

bank

A.

.0

04

00

00

5A

kban

k T.

A.

.

14,7

3717

67,

040

2,39

412

,486

720

037

,552

Alte

rnat

if B

ank

A.

.59

823

389

3666

71

01,

713

Ana

dolu

bank

A.

.72

57

169

5468

418

01,

657

eker

bank

T.A

..

1,99

819

747

151,

486

198

14,

464

Teks

til B

anka

s A

..

365

311

92

485

10

975

Turk

ish

Ban

k A

..

971

3363

160

20

356

Türk

Eko

nom

i Ban

kas

A.

.2,

338

721,

395

992,

302

112

166,

335

Türk

iye

Gar

anti

Ban

kas

A.

.14

,015

320

9,26

71,

566

16,6

5518

022

742

,230

Türk

iye

Ban

kas

A.

.20

,197

451

5,76

91,

250

17,6

973,

090

7648

,529

Yap

ve

Kre

di B

anka

s A

..

10,2

2622

44,

764

481

11,4

4112

619

227

,455

II-247

Ban

ksS

avin

gD

epo

sits

Pu

blic

Sec

tor

Dep

osi

tsC

om

mer

cial

Dep

osi

tsIn

terb

ank

Dep

osi

ts

Fo

reig

nC

urr

ency

Dep

osi

ts

Oth

erIn

stit

uti

on

sD

epo

sits

Pre

cio

us

Met

als

Dep

osi

tsT

ota

l

Ban

ks U

nd

er D

epo

. In

sura

nce

Fu

nd

50

20

110

019

Birl

eik

Fon

Ban

kas

A.

.5

02

011

00

19

Fo

reig

n B

anks

17,6

5450

97,

477

2,53

815

,350

392

3243

,952

Ara

p Tü

rk B

anka

s A

..

30

158

552

012

0B

ank

Mel

lat

0

00

5826

00

84C

itiba

nk A

..

69

70

786

242

705

00

2,43

1D

eniz

bank

A.

.3,

194

751,

226

318

2,95

052

87,

824

Deu

tsch

e B

ank

A.

.

0

049

224

105

50

383

Eur

oban

k Te

kfen

A.

.31

34

404

451

91

01,

245

Fina

ns B

ank

A.

.

5,52

324

22,

731

1,00

83,

947

175

013

,627

Forti

s B

ank

A.

.

1,61

51

501

134

1,55

493

83,

906

Hab

ib B

ank

Lim

ited

0

01

05

00

7H

SB

C B

ank

A.

.2,

287

4452

398

2,99

831

165,

997

ING

Ban

k A

..

3,63

614

194

513

91,

534

290

6,42

3JP

Mor

gan

Cha

se B

ank

N.A

.0

00

41

00

5M

illen

nium

Ban

k A

..

139

040

141

275

20

598

Soc

iéte

Gén

éral

e (S

A)

00

461

310

078

The

Roy

al B

ank

of S

cotla

nd N

.V.

00

120

536

70

049

2Tu

rkla

nd B

ank

A.

.24

62

771

238

20

566

Wes

tLB

AG

00

2710

238

00

166

II-248

Tabl

e 10

Dep

osits

by

Geo

grap

hica

l Reg

ions

and

Citi

es a

s of

Dec

embe

r 31,

200

9(U

SD M

illio

n)

Reg

ions

and

Pro

vinc

es*

Savi

ng

Dep

osits

Publ

ic S

ecto

r D

epos

itsC

omm

erci

al

Dep

osits

Inte

rban

k D

epos

its

Fore

ign

Cur

renc

y D

epos

its

Oth

er

Inst

itutio

ns

Dep

osits

Prec

ious

M

etal

s D

epos

itsTo

tal

stan

bul

52,5

211,

756

23,5

586,

363

53,3

406,

738

375

144,

651

Wes

t Mar

mar

a5,

732

252

657

01,

737

127

218,

526

Bal

kesi

r2,

092

5922

30

783

358

3,19

9Ç

anak

kale

793

6886

014

321

41,

115

Edi

rne

789

5012

50

240

273

1,23

3K

rkla

reli

726

1793

018

712

21,

037

Teki

rda

1,

333

5813

10

383

325

1,94

2

Aeg

ean

21,3

5778

93,

187

28,

506

377

6334

,280

Afy

onka

rahi

sar

608

5584

044

617

31,

214

Ayd

n1,

900

3914

80

671

315

2,79

4D

eniz

li1,

772

5123

20

845

365

2,94

1zm

ir12

,085

433

2,17

02

4,54

717

133

19,4

40K

ütah

ya38

043

760

249

174

768

Man

isa

1,49

076

183

037

050

32,

172

Mu

la2,

530

6423

70

940

478

3,82

5U

ak59

328

580

438

82

1,12

7

East

Mar

mar

a9,

297

667

3,11

21

4,77

334

045

18,2

34B

ileci

k18

518

220

687

130

2B

olu

322

1753

013

87

253

8B

ursa

4,

215

166

967

12,

223

200

217,

792

Düz

ce22

717

370

125

81

415

Esk

ieh

ir1,

356

156

1,16

00

504

305

3,21

2K

ocae

li (z

mit)

1,99

522

672

40

1,20

860

114,

225

Sak

arya

660

5112

30

347

213

1,20

6Y

alov

a33

715

250

159

61

543

Wes

t Ana

tolia

16,0

437,

976

10,4

2480

14,9

324,

976

7254

,504

Ank

ara

14,3

847,

824

9,91

280

13,6

264,

910

6350

,799

Kar

aman

214

3127

018

09

146

1K

onya

1,44

612

248

50

1,12

558

83,

244

II-249

Reg

ions

and

Pro

vinc

es*

Savi

ng

Dep

osits

Publ

ic S

ecto

r D

epos

itsC

omm

erci

al

Dep

osits

Inte

rban

k D

epos

its

Fore

ign

Cur

renc

y D

epos

its

Oth

er

Inst

itutio

ns

Dep

osits

Prec

ious

M

etal

s D

epos

itsTo

tal

Med

iterr

anea

n13

,753

625

1,96

81

6,13

444

531

22,9

57A

dana

3,61

115

567

41

1,13

780

75,

665

Ant

alya

4,34

315

546

00

2,37

110

411

7,44

5B

urdu

r34

216

340

133

151

541

Hat

ay (A

ntak

ya)

1,56

194

207

084

437

22,

744

Ispa

rta63

133

690

302

92

1,04

6çe

l (M

ersi

n)2,

624

9139

30

959

171

54,

243

Kah

ram

anm

ara

399

6310

40

330

252

923

Osm

aniy

e24

317

260

586

135

0

Mid

-Ana

tolia

3,16

629

170

20

3,16

010

113

7,43

3A

ksar

ay26

416

330

479

61

799

Kay

seri

1,21

081

434

01,

224

463

2,99

8K

rkka

le20

129

280

688

233

6K

reh

ir21

726

210

272

51

541

Nev

ehir

243

2239

034

57

165

5N

ide

248

2632

097

71

412

Siv

as54

568

810

383

172

1,09

7Y

ozga

t23

824

340

293

62

596

Wes

t Bla

ck S

ea5,

124

399

761

02,

041

414

208,

759

Am

asya

276

2152

012

37

148

0B

artn

344

1325

012

44

051

0Ç

ank

r13

723

150

456

122

7Ç

orum

440

2279

027

212

382

7K

arab

ük28

825

400

647

142

5K

asta

mon

u40

652

500

8811

360

8S

amsu

n1,

334

9123

20

551

316

2,24

4S

inop

242

2721

010

94

140

4To

kat

353

2953

012

912

257

8Zo

ngul

dak

1,30

496

195

053

532

13

2,45

4

East

Bla

ck S

ea2,

598

248

344

01,

220

677

4,48

4A

rtvin

190

2923

061

51

309

Gire

sun

494

3341

025

017

183

5G

ümü

hane

669

140

373

012

8O

rdu

577

3865

018

015

187

7R

ize

274

3443

011

58

147

6Tr

abzo

n99

710

515

90

578

192

1,86

0

II-250

Reg

ions

and

Pro

vinc

es*

Savi

ng

Dep

osits

Publ

ic S

ecto

r D

epos

itsC

omm

erci

al

Dep

osits

Inte

rban

k D

epos

its

Fore

ign

Cur

renc

y D

epos

its

Oth

er

Inst

itutio

ns

Dep

osits

Prec

ious

M

etal

s D

epos

itsTo

tal

Nor

th E

ast A

nato

lia91

225

023

30

405

424

1,84

5A

r84

3534

033

40

190

Ard

ahan

7015

60

112

010

5B

aybu

rt27

87

029

10

73E

rzin

can

206

2924

013

27

139

8E

rzur

um27

712

212

50

112

201

657

Id

r87

1212

060

41

175

Kar

s16

227

250

284

124

7

Mid

dle

East

Ana

tolia

1,49

630

537

50

754

728

3,01

1B

ingö

l60

2121

042

40

148

Bitl

is55

2723

011

61

123

Ela

z37

642

910

272

82

790

Hak

kari

4747

120

92

011

8M

alat

ya54

560

107

028

321

21,

019

Mu

5720

170

245

012

5Tu

ncel

i14

422

70

585

023

6V

an21

167

960

5521

245

2

Sout

h-Ea

st A

nato

lia2,

294

770

883

01,

411

178

75,

543

Ad

yam

an18

356

490

715

136

6B

atm

an10

188

400

477

128

4D

iyar

bak

r49

811

516

50

181

342

995

Gaz

iant

ep92

814

838

80

821

622

2,34

9K

ilis37

145

020

70

84M

ardi

n13

571

750

123

321

436

Siir

t57

3733

016

50

148

anlu

rfa30

118

710

60

100

201

714

rnak

5554

230

324

016

8

Turk

ish

Rep

ublic

of N

orth

ern

Cyp

rus

471

049

056

358

21,

144

Fore

ign

Cou

ntrie

s15

10

8,55

95,

215

10,3

961,

262

025

,582

Tota

l**13

4,91

414

,329

54,8

1111

,663

109,

371

15,1

9766

834

0,95

3*

The

cla

ssifi

catio

n of

"S

tatis

tical

Reg

iona

l Uni

ts",

whi

ch is

def

ined

with

the

Dec

ree

No.

2002

/472

0 of

Cou

ncil

of M

inis

ters

and

pub

lishe

d in

the

Offi

cial

Gaz

ette

dat

ed S

epte

mbe

r 22

, 200

2 an

d N

o.24

884

is u

sed

in th

is ta

ble.

II-251

Tabl

e 11

Loa

ns b

y G

eogr

aphi

cal R

egio

ns a

nd P

rovi

nces

, as

of D

ecem

ber 3

1, 2

009

(USD

Mill

ion)

Agr

icul

ture

Rea

l Est

ate

Voca

tiona

lM

ariti

me

Tour

ism

Oth

er

stan

bul

480

440

35

107

89,6

6590

,267

Wes

t Mar

mar

a67

50

110

00

139

5,33

66,

260

Bal

kesi

r20

00

400

050

1,79

12,

081

Çan

akka

le13

20

200

030

790

972

Edi

rne

149

011

00

2070

888

9K

rkla

reli

710

130

015

561

660

Teki

rda

12

30

250

024

1,48

51,

657

Aeg

ean

1,84

90

396

140

514

21,3

0024

,099

Afy

on12

90

440

039

795

1,00

8A

ydn

265

038

06

531,

788

2,14

9D

eniz

li15

30

480

046

1,97

42,

221

zmir

688

013

41

1821

311

,712

12,7

66K

ütah

ya56

012

00

1362

070

1M

anis

a34

10

420

210

11,

873

2,35

9M

ula

153

061

014

362,

086

2,35

1U

ak64

017

00

1245

254

4

East

Mar

mar

a71

40

302

01

219

13,9

0515

,140

Bile

cik

460

70

06

300

360

Bol

u45

028

00

740

448

4B

ursa

32

70

113

01

129

5,68

66,

256

Düz

ce32

031

00

1243

651

0E

ski

ehir

134

043

00

241,

574

1,77

5K

ocae

li (z

mit)

320

390

022

3,93

64,

028

Sak

arya

780

250

015

1,20

01,

318

Yal

ova

200

160

03

370

409

Wes

t Ana

tolia

649

049

50

028

027

,463

28,8

86A

nkar

a27

40

445

00

224

24,8

2325

,766

Kar

aman

480

60

03

201

258

Kon

ya32

70

440

052

2,43

92,

862

Reg

ions

and

Pro

vinc

es*

Spec

ializ

ed L

oans

Non

-sp

ecia

lized

Lo

ans

Tota

l***

II-252

Agr

icul

ture

Rea

l Est

ate

Voca

tiona

lM

ariti

me

Tour

ism

Oth

erR

egio

ns a

nd P

rovi

nces

*Sp

ecia

lized

Loa

nsN

on-

spec

ializ

ed

Loan

sTo

tal**

*

Med

iterr

anea

n1,

627

032

20

2537

417

,772

20,1

20A

dana

432

053

01

374,

170

4,69

3A

ntal

ya47

20

147

011

166

6,46

37,

259

Bur

dur

940

80

014

367

484

Hat

ay (A

ntak

ya)

137

032

010

602,

191

2,43

0Is

parta

108

016

00

852

665

8çe

l (M

ersi

n)28

20

250

241

2,75

23,

101

Kah

ram

anm

ara

620

250

024

944

1,05

4O

sman

iye

410

160

124

358

440

Mid

-Ana

tolia

568

018

50

513

64,

516

5,41

0A

ksar

ay94

021

00

1626

539

6K

ayse

ri12

80

420

033

2,02

42,

227

Krk

kale

420

90

08

329

389

Kr

ehir

440

100

57

228

295

Nev

ehir

450

160

011

361

433

Ni

de47

014

00

1331

739

1S

ivas

103

043

00

1860

476

7Y

ozga

t66

030

00

3038

751

3

Wes

t Bla

ck S

ea51

80

253

04

260

5,99

27,

027

Am

asya

590

230

010

417

508

Bar

tn7

010

00

424

927

0Ç

ank

r57

07

00

1120

127

7Ç

orum

800

320

026

721

860

Kar

abük

120

110

014

343

381

Kas

tam

onu

630

160

027

434

538

Sam

sun

133

048

01

116

1,69

11,

989

Sin

op18

019

00

1024

629

3To

kat

750

430

130

647

797

Zong

ulda

k15

043

02

111,

043

1,11

4

East

Bla

ck S

ea21

60

120

01

129

3,40

83,

874

Artv

in15

010

00

623

326

4G

iresu

n44

012

01

3149

258

0G

ümü

hane

250

100

04

8412

4O

rdu

740

220

033

772

901

Riz

e15

017

00

1152

556

8Tr

abzo

n42

049

00

431,

302

1,43

7

II-253

Agr

icul

ture

Rea

l Est

ate

Voca

tiona

lM

ariti

me

Tour

ism

Oth

erR

egio

ns a

nd P

rovi

nces

*Sp

ecia

lized

Loa

nsN

on-

spec

ializ

ed

Loan

sTo

tal**

*

Nor

th E

ast A

nato

lia20

20

660

023

1,44

01,

731

Ar

90

160

02

155

181

Ard

ahan

300

10

00

6192

Bay

burt

100

60

01

5067

Erz

inca

n33

017

00

620

826

4E

rzur

um56

015

00

1266

975

2I

dr

170

30

00

107

127

Kar

s47

09

00

219

124

9

Mid

dle

East

Ana

tolia

191

011

70

045

2,02

42,

378

Bin

göl

60

70

00

143

155

Bitl

is26

07

00

910

414

6E

laz

320

300

04

501

567

Hak

kari

50

30

00

5866

Mal

atya

800

220

011

668

780

Mu

160

90

04

7310

2Tu

ncel

i6

06

00

171

85V

an21

032

00

1740

647

6

Sout

h-Ea

st A

nato

lia46

70

205

014

208

5,47

36,

365

Ad

yam

an40

030

00

837

645

5B

atm

an11

012

00

423

025

7D

iyar

bak

r84

061

00

1993

31,

097

Gaz

iant

ep12

60

440

1487

2,69

82,

969

Kilis

240

40

01

5382

Mar

din

630

120

09

298

382

Siir

t7

07

00

397

115

anlu

rfa10

60

210

070

681

878

rnak

50

130

05

107

130

ller B

anka

s**

00

00

04,

142

104,

152

Turk

ish

Rep

ublic

of N

orth

ern

Cyp

rus

00

00

610

456

518

Fore

ign

Cou

ntrie

s0

00

00

038

,867

38,8

67

Tota

l****

7,72

50

3,01

04

157

6,57

623

7,62

525

5,09

6

** B

ecau

se th

e di

strib

utio

n of

the

loan

whi

ch is

ext

ende

d by

lle

r Ban

kas

to th

e pr

ovin

ces

does

not

exi

st,

it is

sho

wn

as a

sep

arat

e lin

e.

***

Tota

l Loa

ns =

Loa

ns e

xcep

t "Lo

ans

unde

r fol

low

-up"

and

"Spe

cific

pro

visi

ons"

****

Tot

al lo

an fi

gure

s of

two

bank

s in

clud

e "L

oans

" sho

wn

unde

r "Fi

nanc

ial a

sset

s w

here

fair

valu

e ch

ange

is re

flect

ed to

inco

me

stat

emen

t".

* Th

e cl

assi

ficat

ion

of "S

tatis

tical

Reg

iona

l Uni

ts",

whi

ch is

def

ined

with

the

Dec

ree

No.

2002

/472

0 of

Cou

ncil

of M

inis

ters

and

pub

lishe

d in

the

Offi

cial

Gaz

ette

dat

ed S

epte

mbe

r 22,

200

2 an

d N

o.24

884

is

used

in th

is ta

ble.

II-254

Tab

le 1

2 C

lass

ific

atio

n o

f C

ash

Lo

ans,

as

of

Dec

emb

er 3

1, 2

009

(US

D M

illio

n)

Sec

tor

To

tal

7,72

50

3,01

04

157

6,57

617

,472

237,

625

255,

096

Dep

osi

t B

anks

7,72

50

3,01

00

02,

418

13,1

5323

0,92

324

4,07

6

Sta

te-o

wn

ed B

anks

6,74

20

3,01

00

02,

418

12,1

6956

,853

69,0

22

Türk

iye

Cum

huriy

eti Z

iraat

Ban

kas

A.

.6,

742

00

00

06,

742

17,8

3524

,576

Türk

iye

Hal

k B

anka

s A

..

00

3,01

00

02,

373

5,38

315

,908

21,2

91Tü

rkiy

e V

akfla

r Ban

kas

T.A

.O.

0

00

00

4545

23,1

1023

,155

Pri

vate

ly-o

wn

ed B

anks

182

00

00

018

213

1,44

013

1,62

2

Ada

bank

A.

.0

00

00

00

00

Akb

ank

T.A

..

00

00

00

026

,705

26,7

05A

ltern

atif

Ban

k A

..

00

00

00

01,

784

1,78

4A

nado

luba

nk A

..

00

00

00

01,

624

1,62

4ek

erba

nk T

.A.

.18

20

00

00

182

3,38

93,

572

Teks

til B

anka

s A

..

00

00

00

01,

032

1,03

2Tu

rkis

h B

ank

A.

.0

00

00

00

153

153

Türk

Eko

nom

i Ban

kas

A.

.0

00

00

00

5,91

85,

918

Türk

iye

Gar

anti

Ban

kas

A.

.0

00

00

00

33,1

5333

,153

Türk

iye

Ban

kas

A.

.0

00

00

00

32,4

9832

,498

Yap

ve

Kre

di B

anka

s A

..

00

00

00

025

,183

25,1

83

Ban

ks U

nd

er D

epo

. In

sura

nce

Fu

nd

00

00

00

01

1

Birl

eik

Fon

Ban

kas

A.

.0

00

00

00

11

Sp

ecia

lized

Lo

ans

Ag

ricu

ltu

reR

eal E

stat

eV

oca

tio

nal

Mar

itim

eT

ou

rism

Oth

erT

ota

l

No

n-

spec

ializ

edL

oan

sT

ota

l*

II-255

Sp

ecia

lized

Lo

ans

Ag

ricu

ltu

reR

eal E

stat

eV

oca

tio

nal

Mar

itim

eT

ou

rism

Oth

erT

ota

l

No

n-

spec

ializ

edL

oan

sT

ota

l*

Fo

reig

n B

anks

801

00

00

080

142

,629

43,4

31

Ara

p Tü

rk B

anka

s A

..

00

00

00

023

523

5B

ank

Mel

lat

0

00

00

00

153

153

Citi

bank

A.

.0

00

00

00

1,38

21,

382

Den

izba

nk A

..

801

00

00

080

18,

530

9,33

1D

euts

che

Ban

k A

..

00

00

00

046

46E

urob

ank

Tekf

en A

..

00

00

00

080

080

0Fi

nans

Ban

k A

..

0

00

00

00

12,7

8312

,783

Forti

s B

ank

A.

.0

00

00

00

4,52

64,

526

Hab

ib B

ank

Lim

ited

0

00

00

00

77

HS

BC

Ban

k A

..

00

00

00

05,

690

5,69

0IN

G B

ank

A.

.0

00

00

00

7,26

27,

262

JPM

orga

n C

hase

Ban

k N

.A.

00

00

00

00

0M

illen

nium

Ban

k A

..

00

00

00

047

947

9S

ocié

te G

énér

ale

(SA

)0

00

00

00

103

103

The

Roy

al B

ank

of S

cotla

nd N

.V.

00

00

00

012

712

7Tu

rkla

nd B

ank

A.

.0

00

00

00

482

482

Wes

tLB

AG

00

00

00

024

24

Dev

elo

pm

ent

and

Inve

stm

ent

Ban

ks0

00

415

74,

158

4,31

96,

702

11,0

21

Akt

if Y

atrm

Ban

kas

A.

.0

00

00

00

200

200

Ban

kPoz

itif K

redi

ve

Kal

knm

a B

anka

s A

00

00

00

077

777

7C

redi

t Agr

icol

e Y

atrm

Ban

kas

Tür

k A

.0

00

00

00

00

Dile

r Yat

rm B

anka

s A

..

00

00

00

057

57G

SD

Yat

rm B

anka

s A

..

00

00

00

051

51lle

r Ban

kas

00

00

04,

142

4,14

210

4,15

2M

KB

Tak

as v

e S

akla

ma

Ban

kas

A.

. 0

00

00

00

44

Mer

rill L

ynch

Yat

rm B

ank

A.

.0

00

00

00

00

Nur

ol Y

atrm

Ban

kas

A.

.0

00

00

00

6363

Taib

Yat

rm B

ank

A.

.0

00

00

00

00

Türk

Exi

mba

nk0

00

42

1622

2,60

62,

628

Türk

iye

Kal

knm

a B

anka

s A

..

00

00

154

015

436

652

1Tü

rkiy

e S

nai K

alk

nma

Ban

kas

A.

.0

00

00

00

2,56

82,

568

* T

otal

Loa

ns =

Loa

ns e

xcep

t "Lo

ans

unde

r fo

llow

-up"

and

"S

peci

fic p

rovi

sion

s"*

Thi

s ta

ble

is g

ener

ated

by

usin

g th

e fig

ures

of t

he "

Loan

s by

Geo

grap

hica

l Reg

ions

and

Pro

vinc

es"

as o

f Dec

embe

r 31

, 200

9

II-256

Tab

le 1

3 S

ecto

r C

on

cen

trat

ion

s fo

r C

ash

Lo

ans,

as

of

Dec

emb

er 3

1, 2

009

(US

D M

illio

n)

TC

(%)

FC

(%)

To

tal

(%)

Ag

ricu

ltu

ral

10,3

305.

756

20.

810

,892

4.3

Far

min

g an

d R

aisi

ng li

vest

ock

9,93

35.

540

30.

610

,336

4.1

For

estr

y23

70.

179

0.1

316

0.1

Fis

hing

159

0.1

800.

123

90.

1

Man

ufa

ctu

rin

g26

,647

14.8

31,3

1044

.057

,957

23.1

Min

ing

1,46

30.

81,

456

2.0

2,92

01.

2

Pro

duct

ion

24,2

0913

.424

,216

34.0

48,4

2519

.3

Ele

ctric

, gas

and

wat

er97

50.

55,

638

7.9

6,61

32.

6

Co

nst

ruct

ion

7,52

04.

25,

942

8.3

13,4

615.

4

Ser

vice

s39

,654

22.0

26,4

5337

.266

,107

26.3

Who

lesa

le a

nd r

etai

l tra

de19

,077

10.6

7,41

710

.426

,493

10.5

Hot

el, f

ood

and

beve

rage

ser

vice

s1,

791

1.0

3,77

35.

35,

565

2.2

Tra

nspo

rtat

ion

and

tele

com

mun

icat

ion

5,96

93.

37,

577

10.6

13,5

465.

4

Fin

anci

al In

stitu

tions

6,93

33.

84,

298

6.0

11,2

314.

5

Rea

l est

ate

and

rent

ing

serv

ices

2,10

81.

21,

492

2.1

3,60

01.

4

Sel

f-em

ploy

emen

t ser

vice

s98

80.

521

10.

31,

199

0.5

Edu

catio

n se

rvic

es46

30.

322

20.

368

50.

3

Hea

lth a

nd s

ocia

l ser

vice

s2,

324

1.3

1,46

42.

13,

788

1.5

Oth

er96

,073

53.3

6,89

49.

710

2,96

741

.0

To

tal

180,

223

100.

071

,161

100.

025

1,38

410

0.0

Cu

rren

t P

erio

d

II-257

Tab

le 1

4 S

ecto

ral R

isk

Co

nce

ntr

atio

ns

of

No

n-c

ash

Lo

ans,

as

of

Dec

emb

er 3

1, 2

009

(US

D M

illio

n)

TC

(%)

FC

(%)

To

tal

(%)

Ag

ricu

ltu

ral

330

1.1

476

1.0

806

1.1

Far

min

g an

d R

aisi

ng li

vest

ock

226

0.8

425

0.9

651

0.9

For

estr

y93

0.3

400.

113

30.

2

Fis

hing

120.

010

0.0

220.

0

Man

ufa

ctu

rin

g9,

434

31.7

20,5

4144

.529

,975

39.5

Min

ing

680

2.3

1,14

42.

51,

824

2.4

Pro

duct

ion

7,46

925

.116

,139

35.0

23,6

0931

.1

Ele

ctric

, gas

and

wat

er1,

285

4.3

3,25

77.

14,

542

6.0

Co

nst

ruct

ion

5,70

319

.28,

109

17.6

13,8

1218

.2

Ser

vice

s13

,082

44.0

12,9

7928

.126

,062

34.3

Who

lesa

le a

nd r

etai

l tra

de6,

412

21.6

4,10

98.

910

,521

13.9

Hot

el, f

ood

and

beve

rage

ser

vice

s32

21.

140

80.

973

01.

0

Tra

nspo

rtat

ion

and

tele

com

mun

icat

ion

1,20

14.

02,

024

4.4

3,22

54.

2

Fin

anci

al In

stitu

tions

3,98

113

.45,

074

11.0

9,05

511

.9

Rea

l est

ate

and

rent

ing

serv

ices

410

1.4

418

0.9

827

1.1

Sel

f-em

ploy

emen

t ser

vice

s29

11.

021

40.

550

50.

7

Edu

catio

n se

rvic

es38

0.1

450.

183

0.1

Hea

lth a

nd s

ocia

l ser

vice

s42

71.

468

81.

51,

115

1.5

Oth

er1,

176

4.0

4,06

88.

85,

245

6.9

To

tal

29,7

2610

0.0

46,1

7310

0.0

75,8

9910

0.0

Cu

rren

t P

erio

d

II-258

Tab

le 1

5 B

ank

Em

plo

yees

by

Sex

an

d E

du

cati

on

, as

of

Dec

emb

er 3

1, 2

009

Ban

ksM

ale

Fem

ale

To

tal

Mal

eF

emal

eT

ota

lM

ale

Fem

ale

To

tal

Mal

eF

emal

eT

ota

lM

ale

Fem

ale

To

tal

Sec

tor

To

tal

2,20

535

02,

555

25,1

3914

,302

39,4

4154

,911

67,1

0412

2,01

54,

104

4,28

78,

391

86,3

5986

,043

172,

402

Dep

osi

t B

anks

1,78

431

32,

097

24,3

7814

,090

38,4

6852

,822

65,9

0111

8,72

33,

736

4,03

97,

775

82,7

2084

,343

167,

063

Sta

te-o

wn

ed B

anks

779

3181

08,

536

3,48

912

,025

16,7

5112

,763

29,5

141,

232

1,27

52,

507

27,2

9817

,558

44,8

56

Türk

iye

Cum

huriy

eti Z

iraat

Ban

kas

A.

.30

014

314

4,76

894

25,

710

9,12

75,

518

14,6

4574

978

01,

529

14,9

447,

254

22,1

98Tü

rkiy

e H

alk

Ban

kas

A.

.18

65

191

2,30

31,

170

3,47

34,

396

3,86

18,

257

306

278

584

7,19

15,

314

12,5

05Tü

rkiy

e V

akfla

r Ban

kas

T.A

.O.

29

312

305

1,46

51,

377

2,84

23,

228

3,38

46,

612

177

217

394

5,16

34,

990

10,1

53

Pri

vate

ly-o

wn

ed B

anks

603

2963

29,

696

6,24

615

,942

25,5

6436

,843

62,4

071,

559

1,73

03,

289

37,4

2244

,848

82,2

70

Ada

bank

A.

.2

02

1210

2211

1223

10

126

2248

Akb

ank

T.A

..

870

871,

653

472

2,12

55,

107

6,72

411

,831

340

331

671

7,18

77,

527

14,7

14A

ltern

atif

Ban

k A

..

313

3415

357

210

300

377

677

4830

7853

246

799

9A

nado

luba

nk A

..

61

726

513

540

063

472

61,

360

4242

8494

790

41,

851

eker

bank

T.A

..

816

8758

132

390

41,

242

1,58

82,

830

5364

117

1,95

71,

981

3,93

8Te

kstil

Ban

kas

A.

. 34

337

154

6922

325

537

663

127

2249

470

470

940

Turk

ish

Ban

k A

..

236

2940

2969

7289

161

107

1714

513

127

6Tü

rk E

kono

mi B

anka

s A

..

260

2666

630

096

62,

009

2,50

84,

517

186

176

362

2,88

72,

984

5,87

1Tü

rkiy

e G

aran

ti B

anka

s A

..

826

881,

853

919

2,77

24,

938

8,39

613

,334

261

372

633

7,13

49,

693

16,8

27Tü

rkiy

e B

anka

s A

..

198

119

92,

989

2,34

25,

331

7,29

98,

983

16,2

8231

334

866

110

,799

11,6

7422

,473

Yap

ve

Kre

di B

anka

s A

..

333

361,

330

1,59

02,

920

3,69

77,

064

10,7

6127

833

861

65,

338

8,99

514

,333

Ban

ks U

nd

er D

epo

. In

sura

nce

Fu

nd

164

2085

4212

754

5310

76

17

161

100

261

Birl

eik

Fon

Ban

kas

A.

.16

420

8542

127

5453

107

61

716

110

026

1

To

tal

Hig

h S

cho

ol

Pri

mar

y S

cho

ol

Un

iver

sity

Gra

du

ates

Po

st-G

rad

uat

es

II-259

Ban

ksM

ale

Fem

ale

To

tal

Mal

eF

emal

eT

ota

lM

ale

Fem

ale

To

tal

Mal

eF

emal

eT

ota

lM

ale

Fem

ale

To

tal

To

tal

Hig

h S

cho

ol

Pri

mar

y S

cho

ol

Un

iver

sity

Gra

du

ates

Po

st-G

rad

uat

es

Fo

reig

n B

anks

386

249

635

6,06

14,

313

10,3

7410

,453

16,2

4226

,695

939

1,03

31,

972

17,8

3921

,837

39,6

76

Ara

p Tü

rk B

anka

s A

..

233

2635

1954

7072

142

44

813

298

230

Ban

k M

ella

t

4

04

101

1126

935

10

141

1051

Citi

bank

A.

.

73

1052

4910

155

31,

019

1,57

269

9916

868

11,

170

1,85

1D

eniz

bank

A.

.15

823

038

81,

794

1,87

03,

664

1,61

01,

839

3,44

913

715

128

83,

699

4,09

07,

789

Deu

tsch

e B

ank

A.

.1

01

20

230

3464

1310

2346

4490

Eur

oban

k Te

kfen

A.

.11

011

5666

122

204

343

547

4023

6331

143

274

3Fi

nans

Ban

k A

..

23

023

1,54

996

92,

518

2,59

14,

515

7,10

621

224

846

04,

375

5,73

210

,107

Forti

s B

ank

A.

.68

876

780

416

1,19

61,

331

2,18

13,

512

113

110

223

2,29

22,

715

5,00

7H

abib

Ban

k Li

mite

d

2

02

40

43

58

11

210

616

HS

BC

Ban

k A

..

304

3484

653

81,

384

1,74

13,

018

4,75

910

614

725

32,

723

3,70

76,

430

ING

Ban

k A

..

330

3378

528

01,

065

1,96

42,

736

4,70

014

117

131

22,

923

3,18

76,

110

JPM

orga

n C

hase

Ban

k N

.A.

11

23

47

1418

325

38

2326

49M

illen

nium

Ban

k A

..

50

533

3063

7612

820

412

1931

126

177

303

Soc

iéte

Gén

éral

e (S

A)

70

727

2350

8061

141

1715

3213

199

230

The

Roy

al B

ank

of S

cotla

nd N

.V.

00

05

38

3370

103

3815

5376

8816

4Tu

rkla

nd B

ank

A.

.12

012

7942

121

122

173

295

2214

3623

522

946

4W

estL

B A

G1

01

13

45

2126

83

1115

2742

Dev

elo

pm

ent

and

Inve

stm

ent

Ban

ks42

137

458

761

212

973

2,08

91,

203

3,29

236

824

861

63,

639

1,70

05,

339

Akt

if Y

atrm

Ban

kas

A.

.4

04

1612

2891

7616

725

1237

136

100

236

Ban

kPoz

itif K

redi

ve

Kal

knm

a B

anka

s A

..

40

427

2249

9210

319

511

415

134

129

263

Cre

dit A

gric

ole

Yat

rm B

anka

s T

ürk

A.

.0

00

03

32

57

36

95

1419

Dile

r Yat

rm B

anka

s A

..

10

14

04

76

131

01

136

19G

SD

Yat

rm B

anka

s A

..

00

03

14

1010

202

02

1511

26lle

r Ban

kas

315

3134

653

211

064

21,

293

517

1,81

015

688

244

2,29

674

63,

042

MK

B T

akas

ve

Sak

lam

a B

anka

s A

..

10

136

440

7058

128

1917

3612

679

205

Mer

rill L

ynch

Yat

rm B

ank

A.

.0

00

10

18

1119

112

1320

1333

Nur

ol Y

atrm

Ban

kas

A.

.0

00

53

814

1832

42

623

2346

Taib

Yat

rm B

ank

A.

.0

00

10

16

410

51

612

517

Türk

Exi

mba

nk32

133

4017

5710

610

721

334

4579

212

170

382

Türk

iye

Kal

knm

a B

anka

s A

..

431

4472

2910

130

718

949

663

3710

048

525

674

1Tü

rkiy

e S

nai K

alk

nma

Ban

kas

A.

.21

425

2411

3583

9918

234

3468

162

148

310

II-260

Tab

le 1

6 S

har

e in

Gro

up

an

d S

har

e in

Sec

tor,

as

of

Dec

emb

er 3

1, 2

009

(%)

Ban

ksT

ota

lA

sset

sT

ota

lL

oan

sT

ota

lD

epo

sits

To

tal

Ass

ets

To

tal

Lo

ans

To

tal

Dep

osi

tsB

anks

To

tal

Ass

ets

To

tal

Lo

ans

To

tal

Dep

osi

tsT

ota

lA

sset

sT

ota

lL

oan

sT

ota

lD

epo

sits

Dep

osi

t B

anks

100.

010

0.0

100.

096

.695

.710

0.0

Fo

reig

n B

anks

13.9

17.6

12.9

13.5

16.9

12.9

Sta

te-o

wn

ed B

anks

32.4

28.5

36.9

31.3

27.2

36.9

Ara

p Tü

rk B

anka

s A

..

0.1

0.1

0.0

0.1

0.1

0.0

Ban

k M

ella

t0.

10.

10.

00.

00.

10.

0Tü

rkiy

e C

umhu

riyet

i Zira

at B

anka

s16

.110

.119

.415

.69.

619

.4C

itiba

nk A

..

0.6

0.6

0.7

0.6

0.5

0.7

Türk

iye

Hal

k B

anka

s A

..

7.9

8.9

8.7

7.6

8.5

8.7

Den

izba

nk A

..

2.7

3.9

2.3

2.7

3.7

2.3

Türk

iye

Vak

flar B

anka

s T

.A.O

.8.

49.

58.

88.

19.

18.

8D

euts

che

Ban

k A

..

0.2

0.0

0.1

0.2

0.0

0.1

Eur

oban

k Te

kfen

A.

.0.

50.

30.

40.

50.

30.

4P

riva

tely

-ow

ned

Ban

ks53

.653

.950

.251

.851

.650

.2Fi

nans

Ban

k A

..

3.8

4.8

4.0

3.7

4.6

4.0

Forti

s B

ank

A.

.1.

51.

91.

11.

41.

81.

1A

daba

nk A

..

0.0

0.0

0.0

0.0

0.0

0.0

Hab

ib B

ank

Lim

ited

0.0

0.0

0.0

0.0

0.0

0.0

Akb

ank

T.A

..

12.4

10.9

11.0

11.9

10.4

11.0

HS

BC

Ban

k A

..

1.8

2.4

1.8

1.7

2.3

1.8

Alte

rnat

if B

ank

A.

.0.

50.

70.

50.

50.

70.

5JP

Mor

gan

Cha

se B

ank

N.A

.0.

00.

00.

00.

00.

00.

0A

nado

luba

nk A

..

0.5

0.7

0.5

0.5

0.6

0.5

Mill

eniu

m B

ank

A.

.0.

10.

20.

20.

10.

20.

2ek

erba

nk T

.A.

.1.

21.

31.

31.

11.

31.

3IN

G B

ank

A.

.2.

03.

01.

91.

92.

91.

9Te

kstil

Ban

kas

A.

.0.

30.

40.

30.

30.

40.

3S

ocié

té G

énér

ale

(SA

)0.

00.

00.

00.

00.

00.

0Tu

rkis

h B

ank

A.

.0.

10.

10.

10.

10.

10.

1Th

e R

oyal

Ban

k of

Sco

tland

N.V

.0.

20.

10.

10.

20.

00.

1Tü

rk E

kono

mi B

anka

s A

..

2.0

2.5

1.9

1.9

2.4

1.9

Turk

land

Ban

k A

..

0.1

0.2

0.2

0.1

0.2

0.2

Türk

iye

Gar

anti

Ban

kas

A.

.13

.713

.612

.413

.213

.112

.4W

estL

B A

G0.

10.

00.

00.

10.

00.

0Tü

rkiy

e B

anka

s A

..

14.7

13.3

14.2

14.2

12.7

14.2

Yap

ve

Kre

di B

anka

s A

..

8.4

10.4

8.0

8.1

9.9

8.0

Dev

elo

pm

ent

and

Inve

stm

ent

Ban

ks10

0.0

100.

0-

3.4

4.3

-

Ban

ks U

nd

er D

epo

. In

s. F

un

d0.

10.

00.

00.

10.

00.

0A

ktif

Yat

rm B

anka

s A

..

2.1

1.8

-0.

10.

1-

Ban

kPoz

itif K

redi

ve

Kal

knm

a B

anka

s A

..

5.9

7.3

-0.

20.

3-

Birl

eik

Fon

Ban

kas

A.

.0.

10.

00.

00.

10.

00.

0C

redi

t Agr

icol

e Y

atrm

Ban

kas

Tür

k A

..

0.2

0.0

-0.

00.

0-

Dile

r Yat

rm B

anka

s A

..

0.3

0.5

-0.

00.

0-

GS

D Y

atrm

Ban

kas

A.

.0.

40.

5-

0.0

0.0

-lle

r Ban

kas

29.6

37.5

-1.

01.

6-

MK

B T

akas

ve

Sak

lam

a B

anka

s A

..

5.5

0.0

-0.

20.

0-

Mer

rill L

ynch

Yat

rm B

ank

A.

.0.

80.

0-

0.0

0.0

-N

urol

Yat

rm B

anka

s A

..

0.6

0.6

-0.

00.

0-

Taib

Yat

rm B

ank

A.

.0.

10.

0-

0.0

0.0

-Tü

rk E

xim

bank

24.0

23.7

-0.

81.

0-

Türk

iye

Kal

knm

a B

anka

s A

..

4.8

4.9

-0.

20.

2-

Türk

iye

Sna

i Kal

knm

a B

anka

s A

..

25.6

23.2

-0.

91.

0-

Sh

are

in G

rou

pS

har

e in

Sec

tor

Sh

are

in G

rou

pS

har

e in

Sec

tor

II-261

Tabl

e 17

Eq

uity

Par

ticip

atio

ns a

nd A

ffilia

ted

Com

pani

es o

f Tur

kish

Ban

ks A

broa

d, a

s of

Dec

embe

r 31,

200

9

Ban

ksFi

eld

of

Act

ivity

Dat

e of

Es

tabl

is.

Dat

e of

Pa

rtic

ip.

Cha

irman

of t

he B

oard

Gen

eral

Man

ager

Add

ress

Phon

eFa

x

Akb

ank

T.A

..

Ak

Glo

bal F

undi

ng B

.V. (

AC

)Is

suin

g B

onds

2001

2001

-B

anu

Özc

anA

kban

k N

.V. R

embr

andt

Tow

er

Am

stel

plei

n 1,

109

6 H

A A

mst

erda

m, T

he

Net

herla

nds

31-2

0-59

0095

031

-20-

5900

901

Akb

ank

AG

(AC

)B

anki

ng20

0520

06B

ülen

t Ada

nr

Kar

l Frie

dric

h R

iege

rB

ülen

t Men

emen

ciA

kban

k A

G T

aunu

stor

2 D

-603

11 F

rank

furt

am M

ain

Ger

man

y49

-69-

2971

7100

49-6

9-29

7171

04

Akb

ank

N.V

. (A

C)

Ban

king

2000

2000

Bül

ent A

dan

rB

anu

Özc

anTu

ncer

Mut

luca

nA

kban

k N

.V. R

embr

andt

Tow

er

Am

stel

plei

n 1,

109

6 H

A A

mst

erda

m, T

he

Net

herla

nds

31-2

0-59

0095

031

-20-

5900

901

Akb

ank

(Dub

ai) L

imite

dB

anki

ng20

0920

09B

ülen

t Ada

nr

Cem

Ata

çD

IFC

, Gat

e V

illag

e 06

, Lev

el 0

3, D

ubai

, U

nite

d A

rab

Em

irate

s97

1-44

4 86

466

971-

4448

6465

Ana

dolu

bank

A.

.

Ana

dolu

bank

Off

Sho

re L

td. (

AC

)B

anki

ng20

0320

03P

ulat

Akç

inP

ulat

Akç

inS

abri

Kaz

mao

lu S

ok. A

sm

Süt

çü A

pt.

Nic

osia

T.R

.N.C

.39

2-22

8235

139

2-22

8256

9

Ana

dolu

bank

Ned

erla

nd B

.V. (

AC

)B

anki

ng20

0620

06M

ehm

et R

ütü

Ba

aran

Sar

p A

kkar

tal

Dirk

Van

Lee

uwen

Pla

ntag

e P

arkl

aan

11-H

101

8 S

T A

mst

erda

m, T

he N

ethe

rland

s31

-20-

517

1900

31-2

0- 5

1719

09

Ban

kPoz

itif K

redi

ve

Kal

knm

a B

anka

s A

..

JSC

Ban

kpoz

itiv

(AC

)B

anki

ng19

9220

07sm

ail H

asan

A

kçak

ayal

olu

Mur

at B

eton

er83

, Tol

e bi

Stre

et A

lmat

y K

azak

hsta

n7-

727-

2449

243

7-72

7-24

4923

5

Den

izba

nk A

..

CJS

C D

exia

Ban

k (A

C)

Ban

king

1998

2003

Hak

an A

teD

erya

Kum

ru2n

d Zv

enig

orod

skay

a S

tr. H

.13,

Bl.4

2 Fl

.6

1230

22 M

osco

w R

ussi

an F

eder

atio

n7-

495-

7251

020

7-49

5-72

5102

5

Den

izba

nk A

G. (

AC

)B

anki

ng19

9620

02H

akan

Ate

Mar

tijn

Van

Man

cius

Thom

as K

lest

il P

latz

1 A

103

0 V

ienn

a A

ustri

a43

-1-5

0510

5202

043

-1-5

0510

5202

9

Eur

o D

eniz

Inte

rnat

iona

l Ban

king

U

nit L

td. (

AC

)B

anki

ng19

9620

02-

Ard

a A

ktar

14.

erif

Azr

k S

ok. N

icos

ia T

.R.N

.C.

392-

2283

153

392-

2272

542

II-262

Ban

ksFi

eld

of

Act

ivity

Dat

e of

Es

tabl

is.

Dat

e of

Pa

rtic

ip.

Cha

irman

of t

he B

oard

Gen

eral

Man

ager

Add

ress

Phon

eFa

x

Fort

is B

ank

A.

.

Forti

sban

k M

alta

Ltd

. (A

C)

Ban

king

1998

1998

Yva

n D

e C

ock

Bor

a Ç

amur

cuG

rave

l Row

, Reg

gie

Mill

er S

treet

, Gzi

ra

Mal

ta35

6-32

3572

356-

3235

76

Forti

s H

oldi

ng M

alta

B.V

. (A

C)

Hol

ding

2001

2001

--

Prin

s B

ernh

ardp

lein

200

109

7 JB

A

mst

arda

m, T

he N

ethe

rland

s31

-20-

5214

779

31-2

0-52

1482

5

GSD

Yat

rm B

anka

s A

..

GS

D In

tern

atio

nal L

td. (

AC

)Tr

ade

1997

1999

Turh

an A

lpan

-34

Ath

ol S

treet

, Dou

glas

Isle

of M

an, I

M1

1JB

, Brit

ish

Isle

s44

-162

4-61

1130

44-1

624-

6775

24

ING

Ban

k A

..

ING

Eur

opea

n Fi

nanc

ial S

ervi

ces

Plc

. (A

C)

Fina

nce

1994

1994

John

T. M

c C

arth

y-

Blo

ck 4

, Dun

drum

Tow

n C

entre

San

dyfo

rd

Roa

d, D

undr

um, D

ublin

16

Irela

nd35

3-1-

6384

083

353-

1-63

8408

0

eker

bank

T.A

..

eker

bank

Inte

rnat

iona

l Ban

king

U

nit L

td. (

AC

)B

anki

ng19

9419

94D

r. H

asan

Bas

ri G

ökta

n-

Muh

tar Y

usuf

Gal

leria

F B

lok

Kat

3 A

tatü

rk

Cad

. Nic

osia

T.R

.N.C

.39

2-22

8910

939

2-22

8913

4

eker

bank

Kbr

s Lt

d. (A

C)

Ban

king

1996

1996

Mer

iç U

luah

inÖ

zcan

Tek

güm

üM

uhta

r Yus

uf G

alle

ria F

Blo

k K

at 2

Ata

türk

C

ad. N

icos

ia T

.R.N

.C.

392-

2280

677

392-

2280

670

T.C

. Zira

at B

anka

s A

..

Aze

r Tür

k B

ank

AS

CB

anki

ng19

9519

95M

emm

ed G

urba

nolu

M

usay

evM

ehm

et S

ami A

carö

zmen

slam

Sef

erli

Küç

esi 5

, AZ

1005

370

005

Bak

u A

zerb

aija

n R

epub

lic99

4-12

-497

4316

994-

12-5

9837

02

Kaz

akhs

tan

Zira

at In

tern

atio

nal

Ban

k (A

C)

Ban

king

1993

1993

Meh

met

Em

in Ö

zcan

Ahm

et E

rolu

K

lock

hov

Stre

et N

o 13

2 48

0057

Alm

aty

Kaz

akhs

tan

7-72

7-25

0608

07-

727-

2506

082

Turk

ish

Zira

at B

ank

Bos

nia

D.D

. (A

C)

Ban

king

1997

1997

Meh

met

Mum

cuo

luK

enan

Boz

kurt

Dze

netic

a C

kma

No

2 71

000

Sar

ayje

vo

Bos

nia

and

Her

zego

vina

387-

33-5

6410

038

7-33

-564

101

Turk

men

Tur

kish

Joi

nt S

tock

C

omm

erci

al B

ank

Ban

king

1993

1993

Rec

epge

ldi S

opiy

ewG

ürbü

z G

ündü

zM

ahdu

mgu

ly A

venu

e 11

1/2

7440

00

Ash

kaba

t Tu

rkm

enis

tan

99

3-12

-511

019

993-

12-5

1112

3

II-263

Ban

ksFi

eld

of

Act

ivity

Dat

e of

Es

tabl

is.

Dat

e of

Pa

rtic

ip.

Cha

irman

of t

he B

oard

Gen

eral

Man

ager

Add

ress

Phon

eFa

x

* T.

C. Z

iraat

Ban

kas

A.

. con

tinue

d...

Uzb

ekis

tan-

Turk

ish

Ban

kB

anki

ng19

9319

93A

zim

K. T

ang

rber

diye

vH

akan

Utk

u B

and

rmal

olu

Bun

yodk

or K

ocha

c N

o 15

/B 1

0004

3 Ta

shke

nt U

zbek

ista

n99

8-71

-273

8324

998-

71-1

2063

62

Zira

at B

ank

(Mos

cow

) CJS

C (A

C)

Ban

king

1993

1993

Ahm

et C

anda

nZa

fer B

asri

Yük

sel

Mos

alar

ko P

laza

One

, Mar

ksis

tkay

a 10

9147

Mos

cow

Rus

sian

Fed

erat

ion

7-49

5-23

2673

77-

495-

2326

736

Zira

at B

ank

Inte

rnat

iona

l AG

(AC

)B

anki

ng20

0120

01M

ehm

et M

umcu

olu

Atil

la Ç

etin

er,

Han

s M

icha

el S

ona

Am

Hau

ptba

hnho

f 16

6031

3 Fr

ankf

urt A

m

Mai

n G

erm

any

49-6

9-29

8050

49-6

9-28

0122

Zira

at B

anka

AD

Sko

pje

(AC

)B

anki

ng20

0820

08O

uz K

ayha

nTu

rhan

Ade

mi

Zele

zniç

ka B

r.8 1

000

Sko

pje

Mac

edon

ia38

9-2-

3111

337

389-

2-31

1001

3

Teks

til B

anka

s A

..

The

Eur

o Te

xtile

Inte

rbat

iona

l B

anki

ng U

nit L

td. (

AC

)B

anki

ng19

9219

92H

atic

e Ç

im G

üzel

ayd

nl-

2.S

elim

Cad

. No

49 A

rca

Apt

. D.4

Nic

osia

T.

R.N

.C.

392-

2287

505

392-

2287

531

Türk

Eko

nom

i Ban

kas

A.

The

Eco

nom

y B

ank

N.V

. (A

C)

Ban

king

1998

1998

Yav

uz C

anev

iÖ

zden

Ba

aran

Oda

baP

rf W

.H. K

eeso

mla

ans

1183

DJ

Am

stel

veen

, The

Net

herla

nds

31-2

0-50

3901

031

-20-

5039

020

Türk

iye

Gar

anti

Ban

kas

A.

Gar

anti

Ban

k In

tern

atio

nal N

V. (

AC

)B

anki

ng19

9019

90S

üley

man

Söz

enB

ahad

r Ate

, M

arc

P. P

adbe

rgTh

e N

ethe

rland

s, K

eize

rsgr

acht

569

- 57

5

Am

ster

dam

, The

Net

herla

nds

31-2

0-55

3970

031

-20-

6242

466

Gar

anti

Ban

k M

osco

w (A

C)

Ban

king

1995

1996

Sül

eym

an S

özen

Ali

Niy

azi G

ürca

nC

apita

l Pla

za 4

, 4TH

Les

noy

Per

.8 T

H

Floo

r 125

047

Mos

cow

Rus

sian

Fed

erat

ion

74-9

5-96

1250

074

-95-

9612

503

Gar

anti

Fina

ncia

l Ser

vice

s P

lc.

(AC

)Fi

nanc

e19

9719

98La

Tou

che

Hou

se, I

FSC

, Cus

tom

Hou

se

Doc

ks D

ublin

1 D

ublin

Irel

and

353-

1-67

0179

835

3-1-

6702

438

Türk

iye

Hal

k B

anka

s A

..

Dem

ir - H

alk

Ban

k (N

eder

land

) N.V

.B

anki

ng19

9219

92D

r. H

alit

Cng

llo

luS

elçu

k al

dra

kP

arkl

aan

8 B

B 3

016

Rot

terd

am, T

he

Net

herla

nds

31-1

0-43

6915

131

-10-

4369

252

Und

er li

quid

atio

n pr

oces

s.R

espo

nsib

le p

erso

n D

avid

Van

Des

sel.

II-264

Ban

ksFi

eld

of

Act

ivity

Dat

e of

Es

tabl

is.

Dat

e of

Pa

rtic

ip.

Cha

irman

of t

he B

oard

Gen

eral

Man

ager

Add

ress

Phon

eFa

x

Türk

iye

Ban

kas

A.

.

Dub

lin F

inan

cial

Ser

vice

s P

lc.

(AC

)Fi

nanc

e20

0020

00S

enar

Akk

u-

57 H

erbe

rt La

ne D

ublin

2 D

ublin

Ire

land

353-

1-67

6690

035

3-1-

6629

116

bank

Gm

bh (A

C)

Ban

kac

lk19

9219

92A

.Ayk

ut D

emira

yB

ayra

m Ö

ztür

kH

aupt

verw

altu

ng R

ossm

arkt

9 6

0311

Fr

ankf

urt M

ain

Deu

tsch

land

49

-69-

2990

1049

-69-

2875

87

Türk

iye

Kal

knm

a B

anka

s A

..

stan

bul V

entu

re C

apita

l In

itiat

ive(

vcl)

Ven

ture

C

apita

l20

0720

07H

akan

Tok

aç-

69, R

oute

d'E

sch

L- 1

470

Luxe

mbo

urg

R.C

.S. L

uxem

bour

g B

. 133

548

352-

4266

8829

435

2-42

6688

301

Türk

iye

Vak

flar B

anka

s T

.A.O

.

Kbr

s V

akfla

r Ban

kas

Ltd

.B

anki

ng19

8219

89H

üsey

in E

rçel

ikA

ytaç

Sön

mez

Ata

türk

Cad

. 66

PO

.Box

. 212

Nic

osia

T.

R.N

.C.

392-

2285

871-

7239

2-22

7516

9

Vak

fban

k In

tern

atio

nal A

.G.(A

C)

Ban

king

1999

1999

Rag

p D

ou

Num

an B

ekK

arnt

ner R

ing

18 1

010

Wie

n A

ustri

a43

-1-5

1235

2043

-1-5

1235

2020

Wor

ld V

akf U

BB

Ltd

. (A

C)

Ban

king

1993

1993

Yus

uf Y

eil

rmak

-V

akfla

r Pas

aj 3

5, P

K 2

93 N

icos

ia

T.R

.N.C

.39

2-22

8871

039

2-22

8874

1

Yap

ve

Kre

di B

anka

s A

..

Ban

que

De

Com

mer

ce E

t De

Pla

cem

ents

S.A

.B

anki

ng19

6319

96Fr

anz

Buc

her

Yav

uz E

rgin

1, R

ue D

e Fo

ntai

n, P

O B

ox 3

069

1211

G

enev

a 1

Sw

itzer

land

41-2

2-90

9191

941

-22-

9091

900

Yap

Kre

di B

ank

Aze

rbay

can

Clo

sed

Join

t Sto

ck C

ompa

ny (A

C)

Ban

king

1998

1998

Tayf

un B

ayaz

tC

oku

n B

ulak

Yas

amal

Dis

trict

Caf

er C

abba

rl S

tr. 3

2/12

A

Z 10

85 B

aku

Aze

rbai

jan

Rep

ublic

99-4

12-4

9777

9599

-412

-497

0276

Yap

Kre

di B

ank

Ned

erla

nd N

.V.

(AC

)B

anki

ng20

0120

01Ta

yfun

Bay

azt

Özg

ür M

ara

Rem

bran

dt T

ower

Am

stel

plei

n 1,

109

6 H

A

Am

ster

dam

, The

Net

herla

nds

31-2

0-34

4555

531

-20-

6631

331

Yap

Kre

di H

oldi

ng B

V. (

AC

)Fi

nanc

e19

9919

99Ta

yfun

Bay

azt

-R

embr

andt

Tow

er A

mst

elpl

ein

1, 1

096

HA

A

mst

erda

m, T

he N

ethe

rland

s31

-20-

3445

555

31-2

0-66

3133

1

Yap

Kre

di M

osco

w (A

C)

Ban

king

1993

1994

S.K

emal

Kay

aB

ozku

rt K

apla

ng1

Bui

ldin

g 2,

Gon

char

naya

Nab

erez

hnay

a 11

5172

Mos

cow

Rus

sian

Fed

erat

ion

74-9

5-23

4988

974

-95-

9561

972

AC

: A

ffilia

ted

Com

pany

II-265

Tab

le 1

8 B

ran

ches

an

d R

epre

sen

tati

ve O

ffic

es o

f T

urk

ish

Ban

ks A

bro

ad, a

s o

f D

ecem

ber

31,

200

9

Co

un

try

Cit

yB

anks

Ad

dre

ssP

ho

ne

Fax

Bul

gary

Sof

iaT.

C.Z

iraat

Ban

kas

(B)

19 S

veta

Ned

elia

Squ

are

1000

Sof

ia B

ulga

ria35

9-2-

9806

661

359-

2-98

0211

3

Geo

rgia

Tbili

siT.

C.Z

iraat

Ban

kas

(B)

Uzn

adze

117

Dav

id A

gmas

hene

beli

Ave

nue

No

148

0164

Tbi

lisi G

eorg

ia99

5-32

-943

704

995-

32-9

4383

4

Ger

man

yB

erlin

Teks

til B

anka

s (R

)B

astia

n S

tr. 3

. 133

57 B

erlin

Deu

tsch

land

49-3

0-46

6016

0949

-30-

4660

1619

Dor

tmun

t Tü

rkiy

e H

alk

Ban

kas

(R)*

Sch

ütze

n S

tr. 2

2 44

147

Dor

tmun

t Deu

tsch

land

49-2

31-8

2006

249

-231

-820

095

Düs

seld

orf

Türk

iye

Gar

anti

Ban

kas

(R)

Hei

nric

h-H

eine

Alle

e 1

4021

3 D

üsse

ldor

f D

euts

chla

nd49

-211

-862

2230

149

-211

-862

2235

0

Ger

man

yK

öln

Türk

iye

Hal

k B

anka

s (R

)*B

ahnh

ofsv

orpl

atz

1 5

0667

Köl

n D

euts

chla

nd49

-221

-136

545-

5549

-221

-125

246

eker

bank

(R)

Kom

ödie

n S

tr. 9

506

77 K

öln

Deu

tsch

land

49-2

21-7

3557

349

-221

-731

682

Man

nhei

mTü

rkiy

e H

alk

Ban

kas

(R)*

G 2

, 7 (M

arkt

plat

z) 6

8159

Man

nhei

m D

euts

chla

nd49

-621

-102

625

49-6

21-1

0246

9

Gre

ece

Ath

ens

T.C

.Zira

at B

anka

s

ubes

iE

rmou

2 5

th F

loor

105

63 A

then

s G

reec

e30

-210

-322

3038

30-2

10-3

2217

96

Kom

otin

iT.

C.Z

iraat

Ban

kas

ub

esi

Pla

tia Ir

inis

17

& P

apaf

lesa

1 T

.K. 6

9100

Kom

otin

i G

reec

e30

-253

-108

5930

30-2

53-1

0859

27

Iran

Tehr

anT.

C.Z

iraat

Ban

kas

(R)

Afri

ca B

lvd.

Ana

hita

Tow

er N

o:18

4 S

uit 6

04 6

th F

loor

, Te

hran

Ira

n98

-21-

8878

3417

/18

98-2

1-88

7835

26

Türk

iye

Hal

k B

anka

s (R

)3r

d Fl

oor B

uild

ing

130,

Gha

em M

agha

m F

arah

ani A

ve.

Tehr

an I

ran

98-2

1-88

3047

1598

-21-

8830

1000

Iraq

Bag

hdad

T.C

.Zira

at B

anka

s (B

)W

eziri

ye A

rea

301S

t. D

istri

ct N

o 19

Bag

hdad

Iraq

964-

790-

4181

390

-

Kin

gdom

of

Bah

rain

Man

ama

Den

izba

nk (B

)A

l Jas

rah

Tow

er 6

th F

loor

Offi

ce N

o 62

/63

P.O

.Box

10

357

Dip

lom

atic

Are

a M

anam

a K

ingd

om o

f Bah

rain

973-

17-5

4113

797

3-17

-541

139

Fina

ns B

ank

(B)

Uni

tag

Hou

se 5

th F

loor

P.O

.Box

243

5 M

anam

a K

ingd

om o

f Bah

rain

973-

17-2

1132

297

3-17

-211

339

ING

Ban

k (B

)U

nita

g H

ouse

, 8th

Flo

or G

over

nmen

t Ave

nue,

M

anam

a K

ingd

om o

f Bah

rain

973-

17-2

1530

097

3-17

-217

900

Türk

Eko

nom

i Ban

kas

(B)

Al J

asra

h To

wer

9 th

Flo

or, D

iplo

mat

ic A

rea

Man

ama

Kin

gdom

of B

ahra

in97

3-17

-540

070

973-

17-5

4007

1

Türk

iye

Hal

k B

anka

s (B

)K

ingd

om o

f Bah

rain

Dev

elop

men

t Ban

k B

uild

ing

6th

Fl. D

iplo

mat

ic A

rea,

PO

.Box

113

78 M

anam

a K

ingd

om

of B

ahra

in

973-

17-5

3771

197

3-17

-535

463

Türk

iye

Ban

kas

(B)

Al J

asra

h To

wer

8th

Flo

or, D

iplo

mat

ic A

rea

P.O

. Box

10

205

Man

ama

Kin

gdom

of B

ahra

in97

3-17

-549

222

973-

17-5

4921

8

Türk

iye

Sna

i Kal

knm

a B

anka

s (

B)

Al R

oass

is T

ower

10t

h Fl

oor,

Dip

lom

atic

Are

a P

.O.

Box

102

15 M

anam

a K

ingd

om o

f Bah

rain

973-

17-5

3153

097

3-17

-531

853

II-266

Co

un

try

Cit

yB

anks

Ad

dre

ssP

ho

ne

Fax

Man

ama

Türk

iye

Vak

flar B

anka

s (B

)A

l Ros

sais

Tow

er R

d:17

04 B

lock

317

, Bui

ldin

g 28

3,

10th

Flo

or, O

ff. N

o.10

2-10

3, P

.O.B

ox 1

0242

D

iplo

mat

ic A

rea

Man

ama

Kin

gdom

of B

ahra

in

973-

17-5

3866

297

3-17

-051

4496

Yap

ve

Kre

di B

anka

s (B

)K

ingd

om o

f Bah

rain

Dev

elop

men

t Ban

k B

uild

ing

2nd

Floo

r P

O.B

ox. 1

0615

Dip

lom

atic

Are

a M

anam

a K

ingd

om o

f Bah

rain

973-

17-5

4105

597

3-17

-541

056

Luxe

mbo

urg

Türk

iye

Gar

anti

Ban

kas

(B)

7 Th

omas

Edi

son

L-14

45 S

tr. L

uxem

bour

g35

2-22

3321

135

2-22

3321

222

Mal

taP

orto

mas

oA

kban

k (B

) P

orto

mas

o B

usin

ess

Tow

er L

evel

6 P

orto

mas

o P

TM

01 S

t.Jul

ians

Por

tom

aso

Mal

ta35

6-21

-383

500

356-

21-3

8366

6

Slie

ma

Türk

iye

Gar

anti

Ban

kas

(B)

36/4

-5 S

trand

Tow

ers

The

Stra

nd S

liem

a M

alta

356-

2328

8000

356-

2328

8160

Pak

ista

nK

arac

hiT.

C.Z

iraat

Ban

kas

(R)

Gro

und

Floo

r Bah

ria C

ompl

ex-1

M.T

.Kha

n R

oad

Kar

achi

Pak

ista

n92

-21-

3561

0448

92-2

1-35

6105

38

Sha

ngai

Türk

iye

Gar

anti

Ban

kas

(R)

Pud

ong

Ave

. Mar

ine

Tow

er N

o 1,

Roo

m 1

304

2001

20

Sha

ngha

i, P

eopl

e R

epub

lic o

f Chi

na86

-21-

5879

7900

86-2

1-58

7979

00

Türk

iye

Ban

kas

(R)

4407

Jin

Mao

Tow

er 8

8 C

entu

ry B

oule

war

d 20

0121

, P

udon

g N

ew A

rea,

Sha

ngha

i Peo

ple

Rep

ublic

of

Chi

na

86-2

1-50

4708

8386

-21-

5047

0885

Rus

sian

Fe

dera

tion

Mos

cow

Türk

iye

Gar

anti

Ban

kas

(R)

Cap

ital P

laza

Bus

ines

s C

entre

4 4

th L

esno

y pe

r. 8t

h Fl

oor M

osco

w 1

2504

7 R

ussi

an F

eder

atio

n74

95-9

6125

2174

795-

9612

503

T.R

.N.C

.Fa

mag

usto

HS

BC

Ban

k (B

)sm

et n

önü

Bul

var

No

122

Sal

amis

Yol

u S

akar

ya

Kar

s F

amag

usto

T.R

.N.C

.39

2-36

5583

039

2-36

5583

9

ING

Ban

k (B

)sm

et n

önü

Bul

v. N

o 88

/A F

amag

usto

T.R

.N.C

.39

2- 3

6529

1639

2- 3

6528

74

Türk

Eko

nom

i Ban

kas

(B)

smet

nön

ü B

ulva

r N

o 43

Sak

arya

Fam

agus

to

T.R

.N.C

.39

2- 3

6559

2039

2- 3

6559

31

T.C

.Zira

at B

anka

s (B

)P

aak

öy B

üros

u nö

nü C

ad. N

o 42

Pa

aköy

Tüm

. K

om. 3

Nol

u N

izam

iye

Yan

Pa

aköy

Fam

agus

to

T.R

.N.C

.

392-

2368

800

392-

2368

799

T.C

.Zira

at B

anka

s (B

)K

arak

ol M

ah. S

alam

is Y

olu

üzer

i, sm

et n

önü

Bul

var

No

118

Fam

agus

to T

.R.N

.C.

392-

3655

691

392-

3655

699

Türk

iye

Gar

anti

Ban

kas

(B)*

*sm

et n

önü

Bul

v. N

o 28

Fam

agus

to T

.R.N

.C.

392-

3654

780

392-

3654

785

Türk

iye

Hal

k B

anka

s (B

)La

rnak

a Y

olu,

15

Aus

tos

Bul

. No

24 F

amag

usto

T.

R.N

.C.

392-

3669

583

392-

3669

589

Türk

iye

Ban

kas

(B)

Do

u A

kden

iz Ü

nive

rsite

si s

met

nön

ü B

ulva

r N

o 56

Fa

mag

usto

T.R

.N.C

.39

2-36

5386

639

2-36

5385

9

Türk

iye

Ban

kas

(B)

Nam

k K

emal

Mey

dan

No.

18 F

amag

usto

T.R

.N.C

.39

2-36

6531

839

2-36

6498

8

Türk

iye

Ban

kas

(B)

Pa

aköy

- Fa

mag

usto

T.R

.N.C

.39

2-23

6825

539

2-23

6825

4K

yren

iaH

SB

C B

ank

(B)

Ziya

Rzk

Cad

. No

222

Mer

kez

Kyr

enia

T.R

.N.C

.39

2-81

5998

839

2-81

5997

9IN

G B

ank

(B)

Ziya

Rzk

Cad

. No

167K

yren

ia T

.R.N

.C.

392-

8154

353

392-

8157

371

Türk

Eko

nom

i Ban

kas

(B)

Bed

retti

n D

emire

l Cad

. No.

12/1

2B K

yren

ia T

.R.N

.C.

392-

815

8510

392-

815

4814

T.C

.Zira

at B

anka

s (B

)A

tatü

rk C

ad. K

ordo

nboy

u P

hele

cia

Cou

rt S

itesi

No

37

Kyr

enia

T.R

.N.C

.39

2- 8

1522

1039

2-81

5258

4

Peo

ple

Rep

ublic

of

Chi

na

II-267

Co

un

try

Cit

yB

anks

Ad

dre

ssP

ho

ne

Fax

Kyr

enia

Türk

iye

Gar

anti

Ban

kas

(B)*

*A

tatü

rk C

ad. N

o 10

. Ord

u P

azar

Yan

Kyr

enia

T

RN

C39

2-81

5011

439

2-81

5011

3

Türk

iye

Ban

kas

(B)

Bed

retti

n D

emire

l Cad

. No.

29 K

yren

ia T

.R.N

.C.

392-

8161

203

392-

8161

207

Türk

iye

Ban

kas

(B)

Ziya

Rzk

Cad

. No

119

Kyr

enia

T.R

.N.C

.39

2-81

5331

339

2-81

5109

0

Mor

phou

ING

Ban

k (B

)P

iyal

e P

aa

Mah

. Ale

mda

r Sok

. No

1/B

Mor

phu

T.R

.N.C

.39

2-71

4702

039

2-71

4702

4

T.C

.Zira

at B

anka

s (B

)E

cevi

t Cad

. No

231

Mor

phou

T.R

.N.C

.39

2-71

4214

839

2-71

4276

3

Türk

iye

Ban

kas

(B)

Ece

vit C

ad. N

o 24

/B M

orph

ou T

.R.N

.C.

392-

7146

860

392-

7146

859

Türk

iye

Ban

kas

(B)

Orta

Do

u Te

knik

Üni

vers

itesi

, Kuz

ey K

brs

Kam

püsü

, K

alka

nl M

orph

ou T

.R.N

.C.

392-

6611

951

392-

6611

954

Türk

iye

Ban

kas

(B)

Lefk

e A

vrup

a Ü

nive

rsite

si, G

emik

ona

- Le

fke

M

orph

ou T

.R.N

.C.

392-

6602

037

392-

6602

040

Nic

osia

HS

BC

Ban

k (B

)Y

eni

ehir

Ata

türk

Cad

. No

19 N

icos

ia T

.R.N

.C.

392-

2270

300

392-

2270

303

HS

BC

Ban

k (B

)sm

et n

önü

Sok

. No

11/A

Yen

iken

t Nic

osia

T.R

.N.C

.39

2-22

4104

039

2-22

4104

5

ING

Ban

k (B

)G

irne

Cad

. Ata

türk

Mey

dan

No

7/A

Nic

osia

T.R

.N.C

.39

2-22

8551

039

2-22

8681

5

Türk

Eko

nom

i Ban

kas

(B)

Meh

met

Aki

f Cad

. No

86 K

ökl

üçift

lik N

icos

ia T

.R.N

.C.

392-

229

2040

392-

229

0762

T.C

.Zira

at B

anka

s (B

)G

irne

Kap

s C

ad.

brah

impa

a S

ok. N

o. 1

05 N

icos

ia

T.R

.N.C

.39

2-22

8305

039

2-22

8240

1

Türk

iye

Gar

anti

Ban

kas

(B)

Ara

p A

hmet

Mah

. Osm

anpa

a C

ad. N

o 12

Nic

osia

T.

R.N

.C.

392-

2290

980

392-

2290

981

Türk

iye

Hal

k B

anka

s (B

)K

ökl

ü Ç

iftlik

Mah

. Osm

anpa

a C

ad. Ü

mit

Apt

. No

1

Nic

osia

T.R

.N.C

.39

2-22

8804

539

2-22

8290

0

Türk

iye

Ban

kas

(B)

Girn

e C

ad. N

o.9

Nic

osia

T.R

.N.C

.39

2-22

8313

339

2-22

7831

5

Türk

iye

Ban

kas

(B)

Kem

al A

k C

ad. N

o 56

/A K

üçük

kaym

akl

Nic

osia

T.

R.N

.C.

392-

2270

415

392-

2277

602

Türk

iye

Ban

kas

(B)

Ulu

slar

aras

Kbr

s Ü

nive

rsite

si H

aspo

lat K

ampu

su

Has

pola

t Nic

osia

T.R

.N.C

.39

2-67

1111

139

2-67

1113

7

Türk

iye

Ban

kas

(B)

Yak

n D

ou

Üni

vers

itesi

Kam

püsü

, Dik

men

Nic

osia

T.

R.N

.C.

392-

2231

222

392-

2231

354

Türk

iye

Ban

kas

(B)

Ceb

eci S

okak

, No

19 N

icos

ia T

.R.N

.C.

392-

2231

702

392-

2236

707

U.S

.A.

New

Yor

kT.

C.Z

iraat

Ban

kas

(B)

122

Eas

t 42n

d S

tr. S

uite

310

N.Y

.100

17 U

.S.A

.1-

212-

5575

612

1-21

2-49

0807

6Tü

rkiy

e V

akfla

r Ban

kas

(B)

23rd

Flo

or, 6

80 F

ifth

Ave

nue

New

Yor

k, N

.Y.1

0019

U

.S.A

.1-

212-

6219

400

1-21

2-70

7874

5

Uni

ted

Kin

gdom

Lond

onT.

C.Z

iraat

Ban

kas

(B)

Bas

ildon

Hou

se 7

/11

Moo

rgat

e / L

ondo

n E

C2R

6 D

B

Eng

land

44-2

0-76

0049

8544

-20-

7600

4987

Türk

iye

Gar

anti

Ban

kas

(R)

Fifth

Flo

or 1

92 S

loan

e S

treet

Lon

don

SW

1X 9

QX

E

ngla

nd

44-2

0-77

6125

0044

-20-

7245

9239

Türk

iye

Ban

kas

(B)

Lond

on B

ranc

h 8

Prin

ces

Stre

et L

ondo

n E

C2R

8H

L E

ngla

nd

44-2

0-76

0671

5144

-20-

7726

2566

(B) :

Bra

nch

(

R) :

Rep

rese

ntat

ive

Offi

ce

*

Fin

anci

al S

ervi

ces

Bra

nch.

**

Affi

liate

d B

ranc

h

II-268

Table 19 Representative Offices in Turkey, as of December, 31 2009

Banks Head Office Address Phone FaxAareal Bank A.G. Germany Ebulula Mardin Cad. Maya Meridyen Merkezi D 2

Blok 11 Akatlar stanbul212-349 02 00 212-349 02 99

ABC International Bank PLC United Kingdom Eski Büyükdere Cad. Ayaza a Yolu Sok. z Plaza No 9 Kat 19 Daire 69 34398 Maslak stanbul

212-290 68 90 212-290 68 91

Banca Monte Dei Paschi di Siena S.P.A. Italy Barbaros Bulvar De er Apt. No 37 Kat 4 D 7 Be ikta stanbul

212-251 40 87 212-251 40 88

212-251 30 01

Banco Sabadell S.A. Spain Mete Cad. Yeni Apt. No 10/4 Taksim stanbul 212-249 78 92 212-249 78 90Bank Julius Baer&Co.Ltd. Switzerland Maçka Cad. No 22/7 Vehbi Bey Apt. 34367 Te vikiye

i li stanbul212-368 82 13 212-296 79 72

Banque Internationale de Commerce-BRED France Süleyman Seba Cad. No 48 BJK Plaza A-56 34357 Akaretler Be ikta stanbul

212-327 42 80 212-327 42 81

212-327 42 82

BNP Paribas S.A. France Mete Cad. No 16 Kat 3 34437 Taksim stanbul 212-293 00 32 212-251 43 85Caja de Ahorros Y Pensiones de Barcelona (La Caixa)

Spain Büyükdere Cad. Yap ve Kredi Plaza C Blok Kat 12 34330 Levent stanbul

212-279 95 02 212-279 95 03

212-279 95 80

Citibank N.A. U.S.A. Süleyman Seba Cad. No 44 D B-1-S80 34357 Be ikta stanbul

212-261 42 30 212-261 42 67

Commerzbank A.G. Germany Yap Kredi Plaza B Blok Kat 7 No 19/B 34330 Levent stanbul

212-280 55 24 212-279 41 76

Credit Europe Bank (Suisse) S.A. Switzerland Vi nezade Mah. BJK Plaza A Blok No 35-36 Be ikta stanbul

212-227 59 29 212-258 35 76

Credit Europe Bank N.V. Hollanda Migün Mah. Eski Büyükdere Cad. No 22 Park Plaza Kat 10 No 24-25 Maslak stanbul

212-366 01 00 212-366 01 50

Credit Industriel et Commercial France Süleyman Seba Cad. No 48 BJK Plaza A Blok K4 D41 34357 Akaretler Be ikta stanbul

212-227 67 39212-227 67 40

212-227 67 44

Credit Suisse AG Switzerland Y ld r m O uz Göker Cad. Maya Plaza Kat 9 Akatlar 80630 Be ikta stanbul

212-351 86 00 212-351 87 00

Credit Suisse Securities (Europe) Ltd. United Kingdom Y ld r m Göker Cad. Maya Plaza Kat 10 No 22 Akatlar Be ikta stanbul

212-349 04 00 212-349 04 75

Deg-Deutsche Investitions-und Entwicklungsgesellschaft MBH

Germany Kanyon Ofis Blo u Büyükdere Cad. Kat 7 No 185 34394 Levent stanbul

212-317 81 91 212- 353 52 40

Demir-Halk Bank (Nederland) N.V. Netherlands Süzer Plaza Askeroca Cad. No 15 Kat 24 Oda 2406 34367 Elmada i li stanbul

212-292 12 20 212-292 19 40

Doha Bank Qatar Süzer Plaza Askeroca Cad. No 15 Kat 18 D 1804 34367 Elmada i li stanbul

212-243 92 19 212-243 92 17

Dubai Islamic Bank United Arab Emirates Ömer Avni Mah. nebolu Sok. Sümbülkonak Apt. No 69 Kat 5 Beyo lu stanbul

212-293 70 65 212-293 70 66

212-293 70 50

DZ Bank A.G. Germany Mete Cad. No 14/1 Ayano lu Merkezi 34437 Taksim stanbul

212-249 77 22 212-249 77 44

212-249 77 55

Euro Hypo A.G. Germany Kanyon Ofis Blo u Büyükdere Cad. No 185 34394 Levent stanbul

212-317 22 00 212-317 22 10

Garantibank International N.V. Netherlands Ayaza a Yolu No 4 z Plaza Giz Kat 18 Maslak stanbul 212-366 43 01 212-366 43 20HSBC Private Bank (Suisse) S.A. Switzerland Akaretler Mah. Süleyman Seba Cad. F2 Residence No

6 D 11 Akaretler Be ikta stanbul212-327 41 27 212-327 41 30

ING Bank N.V. Netherlands Eski Büyükdere Cad. Ayaza a Köy Yolu No 6 A Kat 10 34398 Maslak stanbul

212-276 58 46 212-276 58 47

Intesa Sanpaolo S.P.A. Italy Askeroca Cad. Süzer Plaza Kat 18 No 1802 34367 Elmada stanbul

212-251 28 40 212-251 28 41

KBC Bank N.V. Belgium Bayrakl Sok. No 28/3 06670 G.Osmanpa a Ankara 312- 447 09 93 312- 447 09 96

KFW (Kreditanstalt Für Wiederaufbau) IPEX-Bank GMBH

Germany Kanyon Ofis Blo u Kat 7 Büyükdere Cad. No 185 34394 Levent stanbul

212-317 90 91 212-353 10 36

Rabobank International Netherlands Süleyman Seba Cad. Akaretler S raevleri No 23 34357 Be ikta stanbul

212-326 72 00 212-326 72 02

Royal Bank of Canada (Suisse) S.A. Switzerland Te vikiye Cad. kbal Han No 103/22 Te vikiye stanbul

212-258 39 70 212-258 39 80

Standard Bank PLC United Kingdom Polaris Plaza Ahi Evren Cad. No 1 Kat 1 Maslak stanbul

212-367 36 25 212-346 09 39

Standard Chartered Bank United Kingdom Kuleleri Kule 2 K 12 34330 4. Levent stanbul 212-283 40 31 212-283 07 58State Bank of India India Cumhuriyet Cad. 171/3 Park Apt. Elmada i li stanbul 212-296 03 50 212-296 66 32

The Bank of New York Mellon U.S.A. Süleyman Seba Cad. BJK Plaza B Blok No 48 Kat 6 34357 Akaretler Be ikta stanbul

212-259 04 66 212-259 04 67

212-259 04 47

The Bank of Nova Scotia Türkiye Canada Süzer Plaza Askeroca Cad. No 15 D 2509 Elmada i li stanbul

212-251 00 49 212-251 00 47

The Bank of Tokyo-Mitsubishi UFJ, Ltd. Japan Büyükdere Cad. No 100-102 Maya Akar Center B Blok Kat 20 Daire 79 Esentepe stanbul

212-288 56 45 212-288 56 46

The Economy Bank N.V. Netherlands Re itpa a Mah. Eski Büyükdere Cad. Park Plaza No 14 Kat 5 Sar yer stanbul

212-345 03 55 212-345 03 54

UBS A.G. Switzerland Büyükdere Cad. Kanyon Ofis Blo u No 185 Kat 7 34394 Levent stanbul

212-319 20 50 212-319 20 55

Unicredit (Suisse) Bank S.A. Switzerland Mecidiye Mah. Morbasan Sok. Koza Merkezi B Blok K 5 Be ikta stanbul

212-274 38 72 212-274 38 73

212-274 49 94

Union Bancaire Privée Switzerland Maçka Cad. Feza Apt. No 1 D 2 34353 Maçka stanbul 212-296 20 40 212-296 35 70

UPS Capital Business Credit U.S.A. Büyükdere Cad. No 24 34330 1. Levent stanbul 212-278 91 21 212-282 33 72Wachovia Bank N.A. U.S.A. Kuleleri Büyükdere Cad. Kule 2 Kat 9 34340 Levent

stanbul212-324 88 86 212-324 92 04

212-324 88 39

Source: Banking Regulation and Supervision Agency

II-269

banks in turkey 2009 - banks association of turkey€¦ · the turkish economy main economic...

Documents