BANKS IN TURKEY BANKS IN TURKEY 2010 2010 · 'Banks in Turkey 2010' provides general information about deposit banks and development and investment banks operating in Turkey as well

MAY 2011

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The Banks Assoc›at›on

of Turkey

Nispetiye CaddesiAkmerkez B3 Blok Kat 13

Etiler 34340 Istanbul - TurkeyTel: +90 212 282 09 73Fax: +90 212 282 09 46E-mail: [email protected]

www.tbb.org.tr

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20102010BANKS IN TURKEYBANKS IN TURKEY

MAY 2011

Publication No: 277

BANKS IN TURKEY2010

ISSN 1300 - 6460 (printed)ISSN 1308 - 3678 (online)ISBN 978-975-8564-94-1 (printed)ISBN 978-975-8564-95-8 (online)

Copyright © The Banks Association of Turkey, 2011

Publication Name : Banks in TurkeyPublication Type : Local PeriodicalPublication Period : AnnualOwner of the Publication : The Banks Association of TurkeyManaging Director : Dr. Ekrem KeskinAddress : Nispetiye Cad. Akmerkez, B3 Blok Kat 13, Etiler, 34340 stanbulPhone : +90-212-282 09 73Fax : +90-212-282 09 46E-mail : [email protected] : www.tbb.org.tr/eng

Printed in : Paragraf Basım Sanayi A. .Address : Yüzyıl Mah. Matbaacılar Sitesi, 2.Cad. No 202/A, Ba cılar, 34560 stanbulPhone : +90-212-629 06 07-10Fax : +90- 212-629 03 85

Certificate No: 17188

2011.34.Y.8564.277

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-

Contents

Page No.

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

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

Turkish Economy and Banking System in 2010…………………………...……………… I-1

General Outlook….……………………………….………………………………………..... I-1Turkish Economy in 2010………..……….…………..………............................ I-7Banking System in Turkey in 2010 …………………………………………...…………... I-29

The Banks Association of Turkey andBanks 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-43Türkiye Cumhuriyeti Ziraat Bankası A. .……………………………….………… II-44Türkiye Halk Bankası A. ……………………………………………..…………… II-48Türkiye Vakıflar Bankası T.A.O…………………………………………..……… II-52

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

Adabank A. …………………………………………..…………………………… II-58Akbank T.A. ………………………………………………………………………. II-62

Alternatif Bank A. …………………………………...……..……………………… II-66Anadolubank A. ………………………………………...…...…...……………… II-70

ekerbank T.A. .…………………………………………………………………… II-74Tekstil Bankası A. .………………………………………………………………… II-78Turkish Bank A. .………………………………….……..………………………… II-82Türk Ekonomi Bankası A. .……………………………………………………… II-86Türkiye Garanti Bankası A. .……………………………………………………… II-90

Türkiye Bankası A. .…………………………………………………………… II-94Yapı ve Kredi Bankası A. ………………………………………………………… II-98

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

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

Foreign Banks………………………………………………………..…....................... II-109Arap Türk Bankası A. ……………………………………………….…………… II-110Bank Mellat……………………………………..……………………….…………. II-114Citibank A. .. …………………………………...…………………....…………... II-118Denizbank A. ……………………………………...……………………………… II-122Deutsche Bank A. .………………………………………...……………………… II-126Eurobank Tekfen A. ……………………………………………………………… II-130Finans Bank A. …………………………………………………………………… II-134Fortis Bank A. ……………………………………………………………………… II-138Habib Bank Limited……………………………………….………………………… II-142HSBC Bank A. .……………………………………………..…………………… II-146ING Bank A. .......…….………………………...………………………………… II-150JPMorgan Chase Bank N.A.…….………………………...……………………… II-154Millenium Bank A. ..…………………………………………..…………………… II-158Sociéte Générale (SA)……………………………………...……………………… II-162The Royal Bank of Scotland N.V……………………………………..…………… II-166Turkland Bank A. .…………………………...…………………………………… II-170WestLB AG……………………..………………………………...………………… II-174

Development and Investment Banks…….………………………………………...…....... II-179Aktif Yatırım Bankası A. ..………………………………………...……………… II-180BankPozitif Kredi ve Kalkınma Bankası A. .…………………………………… II-184

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Page No.Development and Investment Banks continued…

Credit Agricole Yatırım Bankası Türk A. ..………………...…………………… II-188Diler Yatırım Bankası A. ………………………………………….……………… II-192GSD Yatırım Bankası A. ……………………………………...………………… II-196ller Bankası A. .…………………………………………….…….…………....… II-200MKB Takas ve Saklama Bankası A. .…………………..……………………… II-204

Merrill Lynch Yatırım Bank A. ....................................................................... II-208Nurol Yatırım Bankası A. ………………………………………………...……… II-212Taib Yatırımbank A. .………………………………………...…………………… II-216Türk Eximbank…………………………………………………...………………... II-220Türkiye Kalkınma Bankası A. .…………………………………..……………… II-224Türkiye Sınai Kalkınma Bankası A. .…………………..………………………… II-228

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

Table 1 Turkish Banks - Ranked by Total Assets, as of December 31, 2010............. II-234Table 2 Number of Branches and Employees by the Banks and Groups,

as of December 31, 2010……………………………………………………........ II-236Table 3 Presentation of Assets and Liabilities According to their

Outstanding Maturities, as of December 31, 2010…………………..………… II-238Table 4 Interest Rate Sensitivity of Assets, Liabilities and Off Balance-Sheet

Items based on repricing dates, as of December 31, 2010………...………… II-239Table 5 Information on Currency Risk, as of December 31, 2010…………….………… II-240Table 6 Saving Deposits, as of December 31, 2010…………………………….…….... II-241Table 7 Number of Deposit Accounts, as of December 31, 2010……………...…….... II-242Table 8 Maturity Structure of Deposits, as of December 31, 2010…………................ II-244Table 9 Classification of Deposits, as of December 31, 2010……………...……......... II-246Table 10 Number of Deposit Accounts by Geographical Regions and Provinces,

as of December 31, 2010………………………………………………………… II-248Table 11 Deposits by Geographical Regions and Provinces,

as of December 31, 2010………………………….…………………………....... II-251Table 12 Loans by Geographical Regions and Provinces, as of December 31, 2010… II-254Table 13 Classification of Cash Loans, as of December 31, 2010……………...…….... II-257Table 14 Sector Concentrations for Cash Loans, as of December 31, 2010…………… II-259Table 15 Sectoral Risk Concentrations of Non-Cash Loans,

as of December 31, 2010………………………….…………………………....... II-260Table 16 Share in Group and Share in Sector, as of December 31, 2010................... II-261Table 17 Bank Employees by Sex and Education, as of December 31, 2010…........... II-262Table 18 Bank Employees by Geographical Regions and Provinces,

as of December 31, 2010………………………….…………………………....... II-264Table 19 Number of ATM, POS and by Geographical Regions and Provinces,

as of December 31, 2010………………………….…………………………....... II-265Table 20 Equity Participations and Affiliated Companies of Turkish Banks

Abroad, as of December 31, 2010……………………………………………… II-266Table 21 Branches and Representative Offices of Turkish Banks Abroad,

as of December 31, 2010………………………………………………………… II-270Table 22 Representative Offices in Turkey, as of December 31, 2010………..………… II-273

Glossary….....................................………………............................................................. II-274

iii

Preface

'Banks in Turkey 2010' 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 2010.

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).

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

The Banks Association of Turkey

v

The Turkish EconomyMain Economic Indicators

Unit 2007 2008 2009 2010 2011*Growth

...

...

...

%

Agriculture 9 7 8 8 ... Industry 24 20 15 16 ... Services 67 73 77 76 ...

GDP USD billion 659 742 617 736 ...GDP TL billion 856 951 953 1105 ...

...Income per capita In USD terms 9,333 10,436 8,590 10,079 ...

Source-use As % of GDP

Fixed-capital outlays 22 20 17 19 19

Public 4 4 4 4 4

Private 18 16 13 15 15

Total savings % 16 17 15 13 14

Public 3 2 1 1 1

Private 13 15 14 12 13

Savings gap -6 -5 -2 -7 -5

Public -2 -3 -5 -4 -3

Private -4 -3 3 -3 -2

Total consumption 87 88 89 88 86

Public 14 14 14 14 11

Private 73 74 75 74 75

GDP deflator % 8 12 5 6 ...

Unemployment

Overall % 11 14 14 11 ...Urban 12 15 16 14 ...Rural 8 11 9 7 ...

Inflation %

Producer 6 8 6 6 ...

Public sector balance, as % of GDP %

PSBR (excluding privatization) -1 -2 -6 -4 -3

PSBR (including privatization) 0 -2 -5 -3 -2

PSBR (exc. Interest pay. and privatization) 5 3 0 1 1

Budget deficit -2 -2 -6 -4 -3

Budget deficit (excluding interest payments) 6 4 1 1 2

SEEs 0 0 0 0 0

Public administrations 0 -1 0 0 0

Funds 1 0 0 0 0

Other 1 1 1 0 0

Central Government budget** TL billion

Revenues 190 210 215 237 279

Expenditures 204 227 268 287 313

Interest expenditures 49 51 53 57 48

Budget deficit -14 -19 -49 -39 -34

Primary balance 35 33 1 7 14

Financing 13 19 49 39 ...

External borrowing -3 4 3 8 ... G-bonds 12 6 51 23 ... Short-term financing -3 8 0 0 ... T-bills -3 8 0 0 ... Other 7 1 -5 8 ...

** Forecast for 2011.

i

Sectoral breakdown (at current prices)

(Twelve month chg)

* Programme target

vi

Unit 2007 2008 2009 2010 2011* Selected Budget Ratios %

Revenue/GDP 22 22 23 21 ... Expenditure/GDP 24 24 28 26 ... Personnel expenditure/GDP 5 5 6 6 ... Interest expenditure/GDP 6 5 6 5 ... Investment/GDP 2 2 3 2 ...

Personnel expenditure/total expenditure 21 21 21 21 ... Interest expenditure/total expenditure 24 26 20 20 ... Investment/total expenditure 6 6 9 8 ...

Outstanding domestic debt TL billion

G-bonds 249 261 316 343 ... T-bills 6 14 14 10 ... Total Government securities 255 275 330 353 ... Devaluation account 0 0 0 0 ... Total 255 275 330 353 ...

Outstanding Domestic G. securities/GDP % 30 29 35 32 ... Outstanding debt/GDP 41 38 47 43 ...

Interest rates %

(Annual,compound, average)

O/n (CB) 17 16 7 2 ... G-Securities 17 19 9 9 ...G-securities maturity (day) 999 806 1,100 1,314 ...

Exchange rates

...

... Euro (year-end) 1.7060 2.1435 2.1427 2.0551 ...

CB Balance Sheet TL billion

Total balance sheet 106 113 110 128 ...As % of GDP % 11 12 12 12 ...

51 70 72 85 ...Net domestic assets -6 -15 -8 -9 ... Lending to Government 17 14 9 8 ...Reserve money 45 56 65 76 ...CB money 55 54 51 71 ...Fx position USD billion 33 37 36 51 ...Fx reserves USD billion 71 70 71 81 ...

Monetary aggregates

M1** TL billion 78 83 107 134 ...M2*** 345 434 494 588 ...M3**** 370 458 521 615 ...

4 3 4 4 ...Investment Funds (F) 21 21 23 24 ...G-securities held by non banks (D) 68 74 76 68 ...Loans 286 368 393 526 ...

M3RF 395 475 548 643 ...M3RFD 463 549 624 711 ...

M1/GDP % 8 9 11 12 ...M3/GDP % 39 48 55 56 ...Loans/GDP % 30 39 41 48 ...

**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

Unit 2007 2008 2009 2010 2011*Financial assets TL billion

Monetary assets 345 439 498 594 ... TL 234 304 350 438 ... FX 111 135 148 156 ...Securities 589 471 697 847 ... Shares 334 181 351 473 ... Bonds and Bills 255 276 331 359 ... Government 249 275 330 353 ... Private 6 1 1 6 ...Investment Funds 21 14 16 16 ...Total 955 896 1.195 1.441 ...

Foreign trade USD billion

Exports 107 132 102 114 ... Imports 170 202 141 185 ... Trade deficit 63 70 39 71 ...

Foreign trade as of GDP %

Exports 16 18 17 15 ... Imports 26 27 23 25 ... Trade deficit 10 9 6 10 ...

Balance of payments USD billion

Trade balance -47 -53 -25 -56 ...Invisible balance 9 11 11 7 ...Current account balance -38 -42 -14 -49 ...

Current account balance/GDP % -6 -6 -2 -7 ...

Capital movements USD billion 49 34 9 45 ... Foreign direct investment 20 16 7 7 ... Portfolio investment 1 -5 0 16 ...

2 6 5 4 ...Change in reserves -8 1 0 -13 ...

USD billion

CB reserves 71 70 71 81 ...Commercial banks 44 ... ... ... ...Total 115 ... ... ... ...

Outstanding external debt USD million

Total 249 278 269 290 ...Long-term capital 206 227 219 212 ... Government 71 75 80 85 ... Central Bank 14 12 12 10 ... Private sector 121 140 128 117 ...

79 99 92 83 ...42 41 35 34 ...

Short term 43 50 50 79 ... Government 2 3 4 4 ... Central Bank 2 2 2 2 ... Private sector 39 45 45 73 ...

23 24 22 24 ...16 21 23 49 ...

Istanbul Stock Exchange

Number of companies traded 292 318 325 350 ... ISE index In USD terms 2,790 1,020 2,068 2.500 ... Daily trading volume USD million 1,166 1,041 1,225 1,703 ... Total trading volume USD billion 291 252 299 387 ...

USD billion 288 119 236 308 ... Market P/E 12 6 17 13 ...

Net errors and ommissions

International fx reserves

Non-financials

Financials

Non-financials

Financials

Market capitilization

* Programme targetviii

I-1

Banks in Turkey 2010

I. Turkish Economy and Banking System in 2010

1. General Outlook

1.1. Global Economy Recovered Rapidly As Developing Countries Grew Faster

The world economy entered into a rapid recovery period due to the intensive efforts of countries and international organizations to restrict the contractionary pressure of global crisis on economic activities and to capture the growth process again. The global economy was estimated to grow by 4.8 percent in 2010 following the downsizing of 0.6 percent in 2009. In addition to expansionary monetary policies concerning additional liquidity support and/or capital support to the financial sector to make the financial sector functional again, expansionary fiscal policies leading to the domestic demand increase were also effective in supporting the economic recovery particularly in the developed countries. On the other hand, developing countries continued their growth at a higher rate. International trade volume regained momentum upwards.

According to the forecasts of the International Monetary Fund, the growth rate was recorded as 2.7 percent in the developed countries and 7.1 percent in the developing countries. Due to the low level of inflation rate and contributions of the positive trends in commodity and basic energy prices, the central banks of many countries lowered their policy interest rates to the lowest levels of the near past, and real interest rates remained close to or even below zero.

The low level of real interest rates ensured the relieving, even partially, of the pressure caused by the rapidly growing debt service coverage ratio in these countries. Despite this fact, due to the rapidly growing budget deficits and the supports provided to the financial sector the ratio of debt stock to national income in many developed countries rose and reached to high levels. This ratio was recorded as 90 percent in the developed countries, while it was around 40 percent in the developing countries.

In order to assure the coordination of policies with a view to re-establishing the long-term stability by reducing the global imbalances, G20 group, comprised of twenty developed and developing countries from various different regions of the world, together with international organizations, actively made efforts for resolution of the problems. G20 on one hand expresses opinions and brings forward proposals about resolution of budget deficits and debt stock problems growing in the developed countries and of current deficit and increasing inflationary pressures caused by rapid growth in the developing countries, and on the other hand initiated works for better regulations and supervision structure in financial sector.

Within this framework, approaches relating to capital adequacy, risk management, liquidity, supervision were handled with the intention of improving efficiency in supervision of financial institutions. However, due to the diversity of views between the countries, a mutual agreement could not be reached on “an internationally accepted joint text” in short-term. This in turn continued to create an ambiguity in creation of business plans and in expectations in the financial sector. Furthermore, various risks faced in economy and particularly, some international-scale serious problems emerging in financial sectors in some EU member states delayed the recovery of credit markets in the developed countries. On the other hand, credit market further grew in the developing countries. International capital inflow to these countries began to rise, due to their high growth potential, better balance of savings, low level of public

I-1

Turkish Economy and Banking System in 2010

balance and debts, low inflationary pressure, and less problems in their financial sectors.

1.2. Turkish Economy Rapidly Recovered and Financial Sector Supported Economic Growth

In 2010, the Turkish economy showed a performance even beyond expectations in terms of growth, inflation and public balance. The growth rate realized as 8.9 percent.

Rapid rise in the household consumptions and private sector fixed capital investments supported the national growth through domestic demand expansion, while the increase in foreign demand remained at a limited level depending on the slow growth of developed countries as well.

Savings ratio continued to fall, while savings deficit grew up. The ratio of savings to gross domestic product (gdp) fell to 12.6 percent which was the lowest level of the recent thirty years. The ratio of savings deficit to gross domestic product doubled approximately to around 6.6 percent. In the public sector, the ratio of savings deficit to gross domestic product reduced, and in the private sector, the savings surplus turned to savings deficit.

Beside the technology innovation and capacity increase investments, the fixed capital investments made in the energy sector resulted in the change of savings balance in the private sector. The household consumptions and the private sector fixed capital investments increased by 8.4 percent and 50 percent in constant prices, respectively.

Unemployment rate declined due to the economic recovery. Unemployment rate fell from 13.5 percent in December 2009 to 11.4 percent in December 2010.

Due to the positive effects of the growth based on strong domestic demand increase and appreciation of TL in parallel with strong capital inflows, the imports rapidly rose, and the current account deficit expanded. Foreign trade volume grew by 23 percent, exports by 12 percent, and imports by 11 percent. The ratio of foreign trade volume to gross domestic product realized as 41 percent.

Net international capital inflow rose from USD 9 billion in 2009 to USD 45 billion in 2010. During the same period, the foreign exchange reserves of the Central Bank increased by USD 11.2 billion.

Due to the Bank’s strong balance sheet structure, and rise in demand for TL, and fall in the debt service coverage ratio of the public sector, and the improvement in inflation expectations, the Central Bank continued to supply TL liquidity to the banking sector through open market operations throughout the year. Despite this, net domestic assets declined.

Inflation expectation was generally close to the inflation target. Consumer inflation realized as 6.4 percent, which was the lowest level after the high inflation period, and thus remained below the inflation target of 6.5 percent.

The Central Bank lowered the policy interest rates by 1.5 percentage points in 2010. With the intention of limiting the negative effects of the global crisis on growth and financial sector, the support given to markets throughout 2009 was started to be withdrawn as of the second quarter of 2010. Within the framework of acceleration in growth rate, capital inflows and loan supply, and on the ground that the markets were

I-2


normalized, a road map named “exit strategy” aiming at monetary tightening was declared. (See Section 1.3)

The rapid recovery in economy further supported the realization of fiscal policy targets in parallel with the forecasts. The ratio of budget deficit to gross domestic product was forecasted to fall by 1.5 percentage points to 4 percent. Accordingly, the ratio of primary balance to gross domestic product recorded a surplus of 0.5 percentage points.

Budget performance made a significant contribution to the fall in the ratio of public sector borrowing requirement to gross domestic product. As a matter of fact, this ratio was estimated to decline from 5.1 percent to 3.4 percent.

Debt service coverage ratio in the domestic borrowing of public sector reduced by 16 percentage points to around 90 percent. Thus, the ratio of outstanding domestic debt to gross domestic product decreased from 35 percent to 32 percent. As a result, the average cost of domestic borrowing realized as 7.6 percent, and its maturity was 1,314 days.

The ratio of public sector outstanding debt to gross domestic product decreased from 47 percent to 43 percent.

The ratio of outstanding domestic debt to broadly defined money supply (deposits, currency in circulation, repurchase agreements and investment mutual funds, M2YRF) decreased from 64 percent to 58 percent, w its ratio to total assets of banks was around 35 percent. 62 percent and 14 percent of outstanding domestic debt were demanded by banks and residents abroad respectively.

Outstanding foreign debt of Turkey increased by 8 percent to around USD 290 billion.

1.3. Normalization and Exit Measures

During 2009 while the global crisis was predominantly effective, with a view to alleviating the negative effects of crisis, in general, expansionary measures were taken in both monetary and fiscal policies. On the other hand, during 2010, various different measures were taken as a part of the exit strategy from crisis resulting from increase in short-term capital inflows to Turkey and better differentiation between developed and developing countries in the second phase of the crisis.

These measures were addressed at two main targets. Measures increasing the loan cost aimed at limiting the increase in domestic demand and the use of foreign resources by slowing down the rise in loan supply. In addition, reduction of interest rates intended to prevent the short-term capital inflows through diminishing of short-term return of TL investments.

The measures adopted by the Government:

By a Decree of the Council of Ministers, the rate of discounts for resource utilization support fund was increased by 5 percentage points to 15 percent

The measures adopted by the Central Bank:

• On September 16, 2010, an adjustment decision to increase the difference between weekly bid interest rate (policy interest rate) and the overnight borrowing interest rate (technical interest rate) by 0,25 points was taken.

I-3


• On September 23, 2010, TL reserve requirement ratio was increased from 5 percent to 5.5 percent, while foreign exchange reserve requirement ratio was increased from 10 percent to 11 percent. Furthermore, the rate of interest applied on required reserves for TL was declined to 0 percent.

• On October 14, 2010, overnight borrowing interest rate was reduced from 6.25 percent to 5.75 percent.

• On November 11, 2010, overnight borrowing interest rate was reduced from 5.75 percent to 1.75 percent this time, while the late liquidity window borrowing rate was reduced from 1.75 percent to 0 percent.

• On November 12, 2010, TL reserve requirement ratio was increased from 5.5 percent to 6 percent.

• On December 16, 2010, policy interest rate was reduced from 7 percent to 6.5 percent. Furthermore, the Central Bank borrowing interest rates were further reduced in various different maturities and transaction types, while its lending interest rates were increased.

• On December 17, 2010, TL reserve requirement ratio were differentiated depending on the term structure, and repurchase agreements of banks with each other or with the Central Bank were included in the scope of required reserves. Considering the existing term structure of deposit accounts, the effective required reserve ratio for TL obligations rose from around 6 percent to approximately 7.5 percent in average.

• In addition to the measures listed above, foreign exchange buying auctions was made possible through additional foreign currency bids, and the Central Bank’s intermediary role in foreign currency market was terminated, and in the right of repurchase borrowings granted to market-maker banks, the maturity was reduced from 1 week to 1 day.

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

• On December 18, 2010, credit card minimum payment amount previously equal to 20 percent of the outstanding debt of account period was increased to a range of rates varying from 25 percent to 40 percent depending on the card limit.

• By the Banking Regulation and Supervision Board’s Resolution dated December 16, 2010 it was decided that in loans to be extended by banks to customers for housing and in consumer loans to be extended under housing collaterals, the amount of the loan shall be limited to 75 percent of the value of the real estate subject to collateral and in installment commercial loans to be extended for commercial real estate purchase, the amount of the loan shall be limited to 50 percent of the value of the real estate subject to collateral.

1.4. Mid-Term Program and Forecasts for 2011-2013 Period

The Mid-Term Program declared in October 2010 set down the targets relating to economic aggregates. Accordingly, the gross domestic product was foreseen to grow by 5 percent in average during the 2011-2013 period.

The ratio of current account deficit to gross domestic product was estimated to be 5.4 percent in 2011 and decline down slightly in the subsequent years. The ratio of public sector balance deficit to gross domestic product was programmed to be reduced

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regularly. Likewise, the ratio of public sector debt to gross domestic product was estimated to decline.

Main Economic Aggregates*

2011 2012 2013

Gdp (in real terms, perc.) 4.5 5.0 5.5Current account balance/gdp (perc.) -5.4 -5.3 -5.2Unemployment rate (perc.) 12.0 11.7 11.4Psbr/gdp (perc.) -2.0 -1.8 -1.2Primary balance/gdp (perc.) 0.3 0.7 1.0Public debt/gdp (EU definition, perc.) 40.6 38.8 36.8

Source: State Planning Organization (SPO)* Forecast

A slow improvement was expected also in unemployment rate. Accordingly, the employment rate, which was expected to be realized at 12.2 percent level in 2010, was projected to decline to 11.4 percent in 2013.

1.5. Banking Sector Properly Maintained Its Functionality Through Strong Shareholder’s Equity Structure

The banking sector also continued to support the economic activities in 2010. The performance of the sector preserved its improvement trend due to the rapid recovery of economic activities, and falling inflation rate, and increasing TL demand of both residents in Turkey and residents abroad, and capital adequacy ratios remaining above the level foreseen in the regulations, and strong corporate and individual loan demands, and fall in debt service coverage ratio of public sector, and increasing resource inflow from abroad, and stability in money and capital markets in 2010.

On the other hand, the liquidity demand of the banking sector from the Central Bank increased depending on the changes made in monetary policies in favor of tightening. Total assets and shareholders’ equity grew up, and the ratio of free shareholders’ equity to total assets rose from 10.2 percent to 10.6 percent. The non-performing loan ratio decreased. The return on equity was recorded at a level above the inflation rate and the average return on government debt instruments.

Total assets of all banks (deposit banks, development and investment banks, and participation banks) grew up by 21 percent to TL 1,008 billion (USD 655 billion). The ratio of total assets to gross domestic product rose by 2 percentage points to 89 percent. Total assets of deposit, development and investment banks increased by 20 percent to TL 964 billion (USD 627 billion) in current prices.

In the balance sheet, the share of assets in foreign currency fell by 1 percentage point to 26 percent, while the share of liabilities in foreign currency fell by 2 percentage points to 30 percent.

Shareholders’ equity of deposit and development and investment banks was recorded as TL 129 billion (USD 84 billion), and their free shareholders’ equity was TL 102 billion (USD 66 billion). The ratio of shareholders’ equity to total assets was 13 percent, while the capital adequacy standard ratio was around 19.1 percent.

Loan stock of deposit and development and investment banks increased by 34 percent to TL 495 billion. The ratio of loans to total assets rose by 5 percentage points to 51 percent, while its ratio to gross domestic product increased to 45 percent. The

I-5


growth in foreign exchange denominated loans accelerated. The ratio of securities to total assets declined by 3 percentage points to 30 percent. The share of fixed assets in total assets was around 3 percent.

The share of total deposits in the resources was 61 percent, and its ratio to gross domestic product was around 53 percent. The share of TL deposits in total deposits was 70 percent.

There was no significant change in term structure of deposits; average maturity of TL deposits was 2.3 months, while average maturity of foreign exchange deposits was 2.8 months.

Resources of TL 120 billion (USD 78 billion) from foreign banks represented 12 percent of total assets; the major part of which were in foreign exchange.

Profit volume expanded by 9.3 percent, and return on equity reduced by 1.8 percentage points to 16.4 percent level.

Off-balance sheet items increased by 67 percent. The increase in off-balance sheet items resulted from commitments and derivative transactions.

Total market value of financial institutions increased by 18 percent compared to the end of 2009, and rose to USD 113 billion. Total market value of financial institutions traded in Istanbul Stock Exchange accounted for 41 percent of total market value of all companies.

In 2010, 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 banks having strategic partnership (50 percent partnership) with the non-resident financial institutions was 4. Out of bank partners resident abroad, 13 were European, 5 were Middle Eastern, 4 were U.S.A. and 1 was Asian and 1 was African-origins.

As of December 2010, the Turkish banking sector owned 38 financial subsidiaries and 78 branches and representation offices abroad. Number of representation offices of banks operating abroad in Turkey was 41.

The upward trend in the number of branches and employees in the banking sector which started in 2003 also continued in 2010. Thus, total number of branches of all banks reached 10,072, and total number of employees was 191,207.

In Turkey, the financial sector and banking sector are still at growth phase. The banking sector plays a predominant role in the financial sector. According to international comparisons, the banking sector has a high growth potential.

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Selected Banking Indicators in EU and Turkey *(2009)

EU 27 Turkey Asset per person (euro) 84,234 5,195 Total assets/gdp (percent) 357 84 Population/number of employees 171 417Population/number of branches 2,131 7,965Population/number of banks 59,860 1,597,778

* Deposit banks, development and investment banks, and participation banks are included.

As of December 2009, the Turkish banking sector was at the fourteenth rank in EU 27 in terms of size of total assets. The average asset per capita in EU was 16 times greater than the assets per capita in Turkey.

2. Turkish Economy in 2010

2.1. Growth

According to the data published by the Turkish Institute of Statistics (Turkstat), the gross domestic product grew by 8.9 percent in constant prices in 2010. In constant prices, the growth rate was rather above the targeted level of 3.6 percent set by 2010 program. Gdp increased by 16 percent to TL 1,105 billion in current prices, while gdp increased by 19.3 percent to USD 736 billion in dollar terms. Gdp deflator rose from 5.3 percent to 6.5 percent.

Growth

2002 2008 2009 2010

Growth rate (percent) In current prices 45.9 12.7 0.2 16.0 In constant prices 6.2 0.7 -4.8 8.9Deflator (percent) 37.4 11.9 5.3 6.5Gdp (1987 prices, TL million) 73 102 97 106Gdp (current prices, 1998’s series) TL billion 351 951 953 1,105 USD billion 229 742 617 736 Per capita income (USD) 3,296 10,436 8,590 10,079

Source: Turkstat

The growth rate in the Turkish economy was significantly affected from the global crisis of 2008 and 2009, and in 2010, it rapidly recovered due to strong increase in domestic demand. Domestic demand rose by 13.3 percent, while exports of goods and services increased by 3.4 percent.

Considering sectors, the growth rates of the industries and services sectors were 9.2 percent and 13.6 percent respectively in real terms, while it was around 1.2 percent in agriculture sector. The share of industry sector in gdp increased by 1 percentage point to 16 percent, and the share of services sector decreased by 1 percentage point to 76 percent, in current prices.

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Gdp (percentage change in constant prices)

The manufacturing industry, which was the most important sub-sector of industry sector, grew by 14 percent. By sub-sectors, the growth rate in wholesale and retail trade, transportation and communications, and construction sectors exceeded 10 percent, and all other sub-sectors also recorded growth. In energy sector, manufacturing industry increased by 7.3 percent.

Growth Rates and Breakdown by Sectors

Percentage change (in constant prices)

Percentage shares in gdp (in current prices)

2002 2008 2009 2010 2002 2008 2009 2010

Agriculture 6.9 4.6 3.7 1.2 14 7 8 8Industry 9.4 -0.1 -7.2 13.6 29 20 15 16Services 7.5 0.5 -4.9 9.2 57 73 77 76

Source: Turkstat

In constant prices, consumption demand grew by 6 percent, and investment demand grew by 30 percent. Private sector consumption increased by 6.6 percent, while public sector consumption increased by 2 percent. Exports and imports rose by 3.4 percent and 21 percent, respectively.

The private sector consumption expenditures had a share of 74 percent, while investment expenditures had a share of 19 percent in gdp in current prices. The private sector investment expenditures increased by 2 percentage points in current prices. The public sector consumption expenditures and investment expenditures had shares of 14 percent and 4 percent, respectively. The share of consumption expenditures of the public sector substantially declined as compared to 2009, while that of investment expenditures remained the same.

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Consumption and Investment (annual change in constant prices)

According to the estimations of the State Planning Organization, the ratio of domestic savings to gdp fell down by 2.3 percentage points to 12.6 percent. The savings ratio fell in both private and public sectors. Savings deficit increased by 4.5 percentage points to 6.6 percent of gdp. The ratio of savings deficit to gdp in public sector fell, while the savings surplus turned into savings deficit in private sector.

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

2002 2008 2009 2010*

Domestic savings 19.0 16.9 14.9 12.6 Public -6.2 1.7 0.9 0.8 Private 25.3 15.1 14.0 11.8Savings balance -2.6 -5.2 -2.1 -6.6 Public -12.5 -2.5 -5.3 -4.0 Private 9.9 -2.7 3.2 -2.6External funds** 2.6 5.2 -2.1 -6.6

Source: State Planning Organisation * Estimation, savings balance is own estimation.

** Factor income and current transfers are included.

2.2. Employment and Wages

In spite of increase in labor force and labor force participation rate, unemployment rate declined due to rapid growth of employment depending on economic recovery.

According to the data of Turkstat, total labor force supply was 25.6 million, and total employment was 22.7 million as of December 2010. Total number of workforce increased by 781 thousand as compared to the same period of the last year. Besides this increase, the labor force participation rate also rose. In the same period, total employment increased by 1.2 million. Accordingly, the unemployed population decreased by around 432 thousand to 2.9 million as compared to the previous year.

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Unemployment Rate (percent)

2002 2008 2009 2010Unemployment rate Overall 10.3 14.0 13.5 11.4 Urban 14.2 15.6 16.1 13.9 Youth … 26.0 24.1 21.6

Source: Turkstat

Thus, unemployment rate reduced by 2.1 percentage points to 11.4 percent as of December 2010 as compared to the same period of the last year. This rate fell down from 15.6 percent to 13.9 percent in urban area, and from 9.2 percent to 7.2 percent in rural area. Of total employment, 55 percent were employed in services sector, 25 percent in agriculture and 20 percent in industry sectors.

Real Labor Cost Index (1994=100)

2006 2007 2008 2009 2010

Public 104 112 105 112 110Private 114 118 113 123 ...Civil servant 140 148 147 165 163Minimum wage 181 184 177 191 193

Source: SPO

According to the forecasts of the State Planning Organization, while the real labor cost of public workers and civil servants decreased, minimum wage increased in 2010.

2.3. Inflation

Consumer prices inflation realized in 8 to 9 percent range on annual basis during the first three quarters of 2010 and was above the Central Bank’s target level of 6.5 percent. In the last quarter of the year, consumer prices inflation realized at the targeted level with the effects of the exclusion of the effect of tax regulations enacted in October 2009 from the index, and the fall in prices of non-processed food and tobacco products on annual basis.

Inflation (12-month, percentage change)

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Producer Price Index (PPI) increased by 8.9 percent on annual basis. Annual average increase rates were 8.6 percent and 8.5 percent for CPI (Consumer Price Index) and PPI (Producer Price Index) respectively.

Inflation (percentage)

2002 2008 2009 2010Annual average Producer* 50 13 1.2 8.5Consumer 45 10 6.3 8.612-month change Producer* 31 8 5.9 8.9Consumer 30 10 6.5 6.4CPI target ... 4 7.5 6.5

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

The increases recorded in international markets in petroleum prices, non-petroleum energy prices and commodity prices used as basic inputs exerted an upward pressure on PPI (Producer Price Index), while the appreciation of TL depending on capital inflows made a downward pressure on costs.

2.4. Public Sector Balance

Depending on rapid recovery of economic activities, strong growth, and increase in domestic demand emerging from private sector, measures were taken for renouncing from expansionary fiscal policies in 2010. As a result of these measures, the ratio of public sector deficit to gdp declined from 6.6 percent to 4.9 percent. According to the forecasts of the State Planning Organization, total public sector income increased by 15 percent, while total public sector expenditures increased by 9 percent in 2010. The ratio of total public sector income to gdp rose by approximately 2.2 percentage points to 35.7 percent, while the ratio of total public sector expenditures to gdp rose by 0.2 percentage points to 40.3 percent.

Accordingly, the ratio of public sector primary surplus to gdp increased from 0.7 percent in 2009 to 1.3 percent in 2010. The ratio of primary surplus to gdp rose for the first time since 2006.

Public Sector Borrowing Requirement (as percentage of gdp)

2002 2008 2009 2010* Consolidated budget -14.8 -1.8 -5.5 -4.5** State economic enterprises -1.0 0.0 0.3 0.1 Local administrations 0.1 -0.6 -0.4 -0.2 Funds 0.0 0.0 0.0 0.0 Other 3.0 0.8 -0.5 -0.5 Public sector deficit -12.7 -1.6 -3.4 -2.1 Public sector primary balance -7.0 4.1 0.7 1.3

Source: State Planning Organization * Forecast ** Realization

The share of tax revenues in the public revenues was around 55 percent and indirect taxes accounted for 66 percent of tax revenues. Non-interest expenses accounted for 85 percent of total expenditures. The share of interest expenses in total expenditures decreased by 1 percentage point to 15 percent in 2010 as compared with 2009.

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According to the data of the Ministry of Finance, the ratio of the central government budget deficit to gdp which constituted the most important part in the public sector income and expenses declined from 5.5 percent to 4.5 percent. The central government budget income and expenses increased by 10 percent, and 7 percent, respectively. Interest expenses and non-interest expenses grew by 7 percent. In current prices, budget deficit reduced by 5 percent, while the primary surplus rose to TL 6.6 billion. The ratios of budget income and budget expenses to gdp were realized at 21 percent and 26 percent, respectively. The ratio of interest expenses to gdp decreased by 0.5 percentage points to 5.1 percent level.

Central Government Budget (TL million)

Per. Per. Per. As per. of gdp2009 share 2010* share change 2010

Revenues 215,458 100 236,794 100 10 21.4 Tax revenues 172,440 80 193,324 82 12 17.5 Non-tax revenues 43,018 20 43,470 18 1 3.9 Expenditures 268,219 100 286,981 100 7 26.0 Interest expend. 53,201 20 56,750 20 7 5.1 Non-interest 215,018 80 230,231 80 7 20.9 Personnel 55,947 21 60,349 21 8 5.5 Current 134,680 50 147,529 51 10 13.4 Investment 24,391 9 22,353 8 -8 2.0 Budget balance -52,761 -50,187 -5 -4.5 Primary balance 440 6,563 1,392 0.6

Source: The Ministry of Finance* Provisional

The current expenditures had the highest share with 51 percent in the budget expenditures. The share of investment expenditures decreased by 1 percentage point to 8 percent in 2010 compared with 2009 and those of personnel and interest expenditures were 21 percent and 20 percent, respectively.

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Financing of the Central Government Budget

TL million As percentage of gdp 2008 2009 2010 2008 2009 2010

Financing 16,313 49,369 39,454 1.7 5.2 3.6External borrow. (net) -112 2,998 7,691 0 0.3 0.7Domestic borrowing 10,331 50,816 23,329 1.1 5.3 2.1Other 6,094 -4,445 8,434 0.6 -0.5 0.8

Source: Undersecretariat of the Treasury

During 2010, the cash financing requirement of TL 39.4 billion was recorded, while net domestic borrowing and net external borrowing realized as TL 23.3 billion and TL 7.7 billion. A portion of TL 8.6 billion of the Treasury financing was provided from cash/bank account and other items.

The average maturity of domestic TL borrowing from the markets increased from 1,100 days to 1,314 days. On the other hand, annual compound interest rate of domestic TL borrowing fell from 9 percent in December 2009 to 7.9 percent in December 2010. The outstanding domestic debt rose by 7 percent to TL 353 billion level. The share of non-cash domestic debt stock in total outstanding debt reduced by 4 percentage points to 1 percent.

Structure of Outstanding Domestic Debt (percentage share)

2002 2008 2009 2010

TL 68 92 95 98 Fixed rate 25 46 44 48 Floating rate

42 46 51 50

Fxdenominated

32 8 5 2

Total 100 100 100 100 Source: Undersecretariat of the Treasury

The share of the fixed interest securities in outstanding domestic debt increased, while that of the securities with floating interest rate reduced from 51 percent to 50 percent and the share of the securities in foreign exchange and/or indexed to foreign exchange declined from 5 percent to 2 percent.

The ratio of outstanding domestic debt to gdp decreased by 3 percentage points to 32 percent. Total outstanding debt rose by 7 percent to TL 474 billion (USD 306 billion). The ratio of total outstanding debt to gdp reduced from 47 percent to 43 percent.

Beside the decline in the ratio of outstanding domestic debt to gdp, the pressure of the public sector on financial resources also reduced. The ratio of outstanding domestic debt to broadly defined money supply (deposits, currency in circulation, repurchases and investment mutual funds, M2YRF) decreased by 8 percentage points to 78 percent.

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Central Government Budget and Outstanding Public Debt

TL million As percentage of gdp 2010 2007 2008 2009 2010

Government securities 352,841 30 29 35 32 Cash 350,379 26 26 33 32 Non-cash 2,462 4 3 2 0 Bonds 343,316 29 27 33 31 Cash 340,854 25 25 31 31 Non-cash 2,462 4 3 2 0 Treasury bills 9,525 1 1 1 1 Cash 9,525 1 1 1 1 Non-cash 0 0 0 0 0Domestic debt 352,841 30 29 35 32External debt* 120,702 11 10 12 11Total 473,543 41 38 47 43

* For Central Government Budget

Out of total outstanding domestic debt of central government budget, 15 percent was held by public organizations, and 85 percent by the investment portfolio of market. These shares were 18 percent and 82 percent, respectively as of the end of 2009.

Distribution of Government Domestic Debt InstrumentsBy Investors (TL million)

2008 2009 2010 Non-financial residents 73,767 74,890 68,192 Real persons 16,395 10,644 6,080 Corporations 57,372 64,247 62,114Mutual funds 14,198 15,547 16,003Persons resident abroad 29,936 31,145 49,173Non-financial residents (Total) 117,901 121,583 133,368Banks and other 156,926 208,422 219,473Total 274,827 330,005 352,841

Source: Central Bank of the Republic of Turkey

As of December 2010, 62 percent of the government debt securities was held by banks. Total amount of government domestic debt securities held by non-bank sectors was TL 133 billion. The shares of real persons and legal entities decreased, while the share of the persons resident abroad increased. Government domestic debt securities held by non-bank sectors constituted 38 percent of the outstanding domestic debt.

Demand of legal entities for government debt securities fell during periods of dynamic economic activity. The share of banks in government domestic debt securities demand also declined by 1 percentage point.

The annual compound interest rate of government domestic debt securities slightly declined parallel to the budget discipline in the first quarter of the year, and realized in 7 to 8 percent range during the rest of the year. The interest rate of government securities decreased by around 1 percentage point to 8 percent on annual basis in 2010 compared with 2009.

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2.5. Monetary Aggregates

2.5.1. Monetary Policy

An expansionary monetary policy was implemented in 2009 to limit the negative effects of global crisis on financial markets and support the recovery of economic activities. Due to the increase in loan supply, acceleration in capital inflows, stabilized markets, normalization in the economic activities resulting from increase in domestic demand since the last quarter of 2009 again, the Central Bank started to withdraw the crisis measures as of the second quarter of 2010. Measures aimed at limiting the liquidity support granted to markets were declared under the name of “crisis exit strategy”. According to the new approach, the liquidity was limited in terms of amount and maturity. The policy interest rates showed a horizontal trend until the last quarter.

Interest Rates, Exchange Rates and Inflation (percentage)

2009 2010Dec. March June Sept. Dec.

Interest rate* O/n (CBRT) 6.7 6.7 6.7 6.7 1.6Repo (weekly, CBRT) 8.0 8.0 7.3 7.3 6.7 Government securities 9.0 7.1 7.6 7.9 7.9Exchange rates (annual change) TL/USD -2.3 -9.1 3.2 2.3 3.4 TL/Euro 0.4 -7.9 -10.4 -8.9 -4.1Inflation (CPI, annual change) 6.5 9.6 8.4 9.2 6.4

* Annual compounded, average

In the last quarter, daily interest rates were rapidly reduced to prevent short-term capital inflow, 1-weekly repurchase agreement interest rate was started to be used as policy interest rate. The liquidity support provided to the foreign currency markets was limited, and the intermediary transactions at the foreign exchange buying market were stopped.

Starting from the last quarter, the reserve requirement ratios were increased so that they would be lower at long-terms. The non-deposit funds provided from domestic and foreign resources also made subject to the required reserves. The reserve requirement ratio was increased from 5 percent as of last quarter to 7.5 percent towards the end of year, and the interest rate applicable on non-deposit fund resources was determined as 8 percent.

In the meantime, the rate of interest applied on required reserves reduced to zero starting from the last quarter. The foreign currency buying amounts were increased as well.

The Central Bank aimed to improve the sensitivity to policy interests, and increase the intermediation cost, and limit the loan growth by increasing the liquidity deficit of banks, and declared that to strengthen the resistance of banks against probable risks that may be caused by instabilities in international markets with these measures, would contribute to maintaining of financial stability.

Monetary base grew by 17 percent to TL 76 billion in 2010. The great portion of this increase was recorded in the last quarter of 2010 when the foreign exchange buying auctions accelerated within the framework of the Central Bank’s approach aimed at strengthening the foreign exchange reserves by creating demand for the foreign

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Deflator CB balance sheet

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exchange supply surplus. As a result, net foreign assets increased by 18 percent, while net domestic assets continued to reduce in the first half, and increased again depending on the fall in the Treasury’s deposits in the second half of the year.

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

2009 2010 Dec. March June Sept. Dec.

Net foreign assets 72,024 72,224 79,896 76,861 85,228Net domestic assets -7,505 -11,331 -15,517 -8,705 -9,484Open market operations (net) 18,917 11,530 11,276 16,340 10,913Monetary base 64,519 60,893 64,379 68,156 75,744

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

Throughout the year, the Central Bank continued to provide liquidity to the markets though in declining quantities through open market transactions. The liquidity deficit of banks reduced from TL 19 billion as of the end of 2009 to USD 11 billion as of the end of the last year. The other development which affected the net domestic assets of the Central Bank in 2010 was that the public sector reduced its deposits held with the Central Bank both in TL and in foreign exchange.

Central Bank’s Balance Sheet and Deflator (annual percentage change)

Foreign exchange reserves of the Central Bank increased to USD 80.7 billion by an increase of USD 10 billion in 2010. On the other hand, its foreign exchange obligations fell down by USD 2.2 billion due to decline in the external obligations. Accordingly, the net foreign exchange position rose from USD 37.7 billion to USD 50.6 billion.

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

2009 2010 Dec. March June Sept. Dec.Fx reserves 70.7 68.3 70.6 75.8 80.7Net Fx position 37.7 35.2 41.6 41.0 50.6


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2.5.2. Financial Assets and Money Demand

The ratio of financial assets to the gross domestic product continued to grow though slowly and rose by 5 percentage points to 130 percent. The major portion of increase in assets was for capital market instruments through demand for shares. As a result, the ratio of market value of shares to gross domestic product increased by 6 percentage points.

On the other hand, the fall in the debt service coverage ratio resulted for a fall in the ratio of public sector securities. The ratio of demand for money and quasi-money financial assets to gross domestic product increased by 1 percentage point. The ratio of TL equivalent of foreign exchange denominated deposit reduced by 1 percentage point, while the ratio of TL assets increased by 2 percentage points.

Financial Assets (as percentage of gdp )

2002 2008 2009 2010

Money and quasi-money 39 46 52 53 Cash 2 3 4 4 Deposits 36 42 48 49 - TL 15 28 33 35 - Fx 21 14 15 14 Repos 1 0 0 0Capital market 61 49 73 77 Shares (market value) 16 19 37 43 Bonds and bills 43 29 35 32 -Public 43 29 35 32 -Private 0 0 0 1 Mutual funds 1 1 2 1Total 99 95 125 130

Source: Central Bank of the Republic of Turkey, Capital Markets Board

The most important development relating to financial assets was that both financial institutions and non-financial institutions started to issue bonds and bills, though at very low volumes and levels for the time being.Money demand (M2RF), consisting of TL deposits, repurchase agreements and short-term investment mutual funds grew by 25 percent. TL time deposits and TL demand deposits increased by 24 percent and 33 percent, respectively. Demand of investors resident abroad for short-term TL funds was effective in the rapid increase of demand deposits. As a result, the ratio of money demand composed of TL assets to gross domestic product increased by 3 percentage points to 41 percent.

Monetary Aggregates* (2010) Per. change

TL million USD million (TL) (USD)

M2RF 454,413 295,534 25 20 Money in circ. 44,368 28,855 29 25 TL demand deposit 59,612 38,770 33 29 Repos 4,253 2,766 12 9 Investment funds 16,003 10,408 3 0 TL time deposits 330,177 214,735 24 20M2RYF 610,071 396,768 19 15 Fx deposits 155,658 101,234 5 1

Source: Central Bank of the Republic of Turkey * Participation banks’ funds are included.

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The annual increase rate of broadly defined money demand (M2YRF), also including the foreign exchange deposits, realized as 19 percent (15 percent in dollar terms). Particularly due to the fall in demand of real persons resident in Turkey, the foreign exchange deposits increased by 5 percent on TL equivalent basis and 1 percent in dollar terms. The ratio of M2RFY to gross domestic product also rose by 1 percentage point to 55 percent.

Money Demand (annual change in real terms)

Currency substitution continued to fall. The share of foreign exchange deposits in the broadly defined money demand reduced by 4 percentage points to 26 percent as compared to 2009, and the same ratio declined by 25 percentage points as compared to 2002.

Breakdown of Monetary Aggregates (percentage)

2002 2008 2009 2010Money in circulation 5 7 7 7TL demand deposits 5 7 7 10Repos 2 1 1 1Investment funds 3 5 3 3TL time deposits 33 51 53 54Fx deposits 51 29 30 26M2RYF 100 100 100 100


Deposit interest rates realized parallel to the trends in policy interest rates of the Central Bank, with a limited fall. The interest rate applied on 3-month time deposits, having the highest share in total deposits, was 9.3 percent on average as of the end of 2009, and increased by 20 base points as of the end of the first half of 2010, and reduced by 60 base points as of the end of 2010 as compared to 2009.

According to the BRSA data, total deposits of deposit banks increased by 20 percent. TL deposits grew up by 27 percent, and TL equivalent of foreign exchange deposits grew up by 6 percent. The foreign exchange deposits rose from USD 116 billion as of the end of 2009 to USD 119 billion as of the end of 2010. The share of TL equivalent

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of foreign exchange deposits in total deposits declined by 4 percentage points to 30 percent, as compared to the end of 2009. The ratio of TL deposits to gdp increased by 2 percentage points to 37 percent, while the ratio of total deposits, including foreign exchange deposits, to gdp increased by 2 percentage points to 53 percent. The average maturity of total deposits was 2.3 months. The average maturity of foreign exchange deposits was 2.8 months, and the average maturity of TL deposits was 2.3 months.

Maturity Structure of Total Deposits (percentage)

2002 2008 2009 2010

Total 100 100 100 100 Demand 19 14 15 15 1-month 30 31 27 24 3-month 38 48 50 56 6-month 8 3 3 412- month+ 6 4 4 1Average (month) 2.8 2.4 2.4 2.4


According to data of BRSA, state-owned banks by including the participation banks had a share of 36 percent in total deposits, while that of private banks was 48 percent. The share of state-owned banks in total deposits increased by 1 percentage point, while the share of private banks and foreign banks in total deposits decreased by 0.5 percentage points, and the share of participation banks in total deposits remained at the same at 5 percent compared to the end of 2009.

Deposits and Loans (TL million)*

2002 2008 2009 2010

Total deposits 141,889 454,599 514,618 617,037 TL 60,075 294,093 341,412 433,501 Fx 81,814 160,506 173,206 183,536

Total loans** 51,955 367,609 392,622 525,905 TL 20,662 262,285 288,209 383,815 Fx 31,293 105,324 104,413 142,091

Non-performing loans (Net) 1,695 2,824 3,598 3,107 Non-performing loans (Gross) 3,041 13,881 21,852 19,932 Provisions 1,346 11,057 18,254 16,825

Total loans 51,955 374,877 397,708 543,651 Corporate 44,954 256,839 266,757 369,364 Consumer 7,001 118,038 130,951 174,287

Total loans 51,955 367,609 392,622 525,905 From domestic branches 36,762 302,424 338,452 435,765 From branches abroad 15,193 65,185 54,170 90,140

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

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deposits and 56 percent in foreign exchange deposits. The share of foreign banks in TL and foreign exchange deposits was 11 percent and 12 percent, respectively.

Loans/Deposits (percentage)

Loans to deposit ratio which was 77 percent as of the end of 2009 rose from 81 as of June 2009 to 86 percent as of the end of 2010. This ratio was 66 percent in state-owned banks, and 88 percent in private banks, and 110 percent in foreign banks.

Corporate, Retail and Total Loans (annual percentage change)

The annual growth rate in the loan stock was 6 percent as of December 2009 and rose to 23 percent as of June 2010 and 34 percent as of December 2010. TL loans increased by 36 percent, while foreign exchange loans increased by 33 percent. Corporate loans grew up by 36 percent, while retail loans grew up by 30 percent. The share of retail loans in total loan stock decreased by 1 percentage point to 32 percent, as compared to the end of 2009. This development was affected especially by the slow rate of growth in credit cards and automobile loans.

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Non-performing loans reduced by 9 percent before specific provisions and 14 percent after specific provisions. The ratio of non-performing loans before specific provisions to total loans declined by 2 percentage points to 3.8 percent. The ratio of non-performing loans after specific provisions to total loans fell from 0.9 percent to 0.6 percent. The ratio of non-performing loans to retail loans was 4.1 percent.

Non Performing Loans/Total Loans (percentage)

The shares of deposit banks, participation banks and development and investments banks in total loans were 92 percent, 6 percent and 2 percent, respectively. The share of loans extended through private banks in total loans was 50 percent, and that of state-owned banks was 27 percent, while the share of foreign banks in total loans was 15 percent.

The ratio of total loans of banking sector to gdp was 48 percent. 88 percent of total loans was extended through domestic branches, and remaining 12 percent branches abroad. Most of the loans extended by the branches abroad was foreign exchange denominated and their 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, the foreign exchange loans which were previously extended through foreign branches of domestic banks were started to be extended also by their domestic branches. Hence, external debts of the non-financial sector continued to fall in 2010 and reduced from USD 113.7 billion to USD 106.6 billion.

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

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Corporate loans (Fx) 19,085 70,580 95,276 -From domestic branches 13,901 34,217 66,117 -From branches abroad 5,184 36,363 29,159

Non-financial sector -External debt stock 32,986 113,706 106,610 -Fx borrowing from abroad 27,802 77,343 77,451* Fx indexed loans were included.

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Percentage of gdp Market value (right axis)

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Total foreign exchange corporate loans extended by banks resident in Turkey realized as USD 95 billion, while foreign exchange loans extended through domestic branches increased by USD 32 billion, and foreign exchange loans extended through foreign branches reduced by USD 7 billion.

2.6. Istanbul Stock Exchange

Istanbul Stock Exchange (ISE) 100 index increased both in dollars and in TL in 2010. The index rose by 21 percent to 2,500 points level in dollar terms, and by 25 percent to 66,004 points level in TL terms. On the other hand, total transaction volume grew by 29 percent and reached USD 387 billion.

Due to the recovery of economic activities in a short time, rapid growth of gross domestic product, fall in debt service coverage ratio of public sector, real decline in short-term interest rates, acceleration in capital inflows, and increase in portfolio investments of residents abroad were the factors behind the increase in demand for shares.

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

The market value of companies listed to ISE increased from USD 232 billion at the end of 2009 to USD 296 billion at the end of 2010. The ratio of total market value to gdp also increased from 38 percent to 40 percent.

The number of listed companies increased by 25 to 350 as compared to 2009. 65 companies consisting of exchange traded funds, real estate investment trusts, venture capital investment trusts and securities investment funds were classified in the newly established Corporate Product Market of ISE.

Stocks of 32 financial institutions were traded in the ISE. Of these, 17 were banks. 5 banks were included among 10 corporations with the highest market value. Market value of financial institutions first reached USD 126 billion by an increase of 31 percent as of September 2010 as compared to the end of the previous year and then fell to USD 114 billion by a decrease of USD 12 billion. Then, due to the expectations of fall

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in profitability and profit margin of banks resulting from the measures taken for tightening the monetary policy, and rise in the reserve requirement ratio, and reducing interest rate applied on required reserves to zero level, the ratio of market value of financial institutions to market value of all corporations listed in the ISE reduced by 2 percentage points to 38.5 percent.

Market Value of Financial Institutions

2.7. Foreign Trade Balance

Rapid growth in domestic demand, and high rate of increase in fixed capital investments, and appreciation of TL, and increase of prices of basic commodities beside the petroleum and other energy prices, limited foreign demand increase resulted in the growth of foreign trade volume based primarily on imports. Foreign trade value increased by 23 percent to USD 299 billion in 2010. The ratio of foreign trade volume to gdp rose by 2 percentage points to 41 percent level. Exports increased by 12 percent to USD 114 billion, while imports rose by 31 percent to USD 185 billion.Foreign trade deficit grew up by 85 percent to USD 72 billion. The ratio of foreign trade deficit to gdp rose by 4 percentage points to 10 percent. The ratio of exports to imports declined by 10 percentage points to 62 percent. The ratio of exports to gdp fell by 2 percentage points to 15 percent as compared 2009, while the ratio of imports to gdp increased by 2 percentage points to 25 percent.

Foreign Trade (USD billion)

2002 2008 2009 2010

Exports 36 132 102 114Imports 52 202 141 185Foreign trade deficit 16 70 39 72Foreign trade volume 88 334 243 299Foreign trade deficit/gdp 9 9 6 10Exports/imports 70 65 72 62Quantity index* (2003=100) Exports 86 148 160 183 Imports 89 128 154 199

Source: Turkstat, * Seasonally adjusted.

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Gdp Export Import


According to the seasonally adjusted data, the export quantity index and the import quantity index increased by 14 percent and 30 percent, respectively, while the price index increased by 3.5 percent for exports and by 8.1 percent for imports.

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

By commodity groups, imports increased by 34 percent in capital goods, 32 percent in intermediate goods, and 28 percent in consumer goods. Imports of intermediate goods accounted for 71 percent of total imports. By sectors, the share of manufacturing industry in total imports was 78 percent. Machinery, land vehicles, iron and steel, electrical machines and equipments and plastics sectors were the most important sub-sectors playing an important role in manufacturing industry. Mining sector had a share of 14 percent. In 2010, the mineral oils and fuels segment, greatly composed of crude petroleum and natural gas sub-items, rose by 29 percent to USD 38.5 billion and constituted 21 percent of total imports, as compared to the previous year.

Foreign Trade by Commodity Groups, 2010

Exports Imports USDmillion

Per. change

Per. share

USDmillion

Per. change

Per.share

Capital goods 11,776 6 10 28,820 34 16Intermediate goods 56,379 13 50 131,393 32 71Consumer goods 45,364 11 40 24,734 28 13Other 411 -26 0 546 -18 0Total 113,930 12 100 185,493 32 100

Source: Turkstat

In breakdown of exports by commodity groups, consumer goods, intermediate goods and capital goods had 40 percent, 50 percent and 10 percent of total exports respectively. In breakdown of exports by sectors, manufacturing industry had a share of 93 percent, and agriculture sector had 4 percent. The major sub-sectors of the manufacturing industry were land vehicles, textiles, iron and steel, machinery and electrical machines.

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EU member states had a share of 43 percent in foreign trade. The share of non-EU European countries was 13 percent. The foreign trade deficit with EU member states rose from USD 9.5 billion in 2009 to USD 19.6 billion in 2010. EU member states had a share of 39 percent in imports and 46 percent in exports, respectively.

Foreign Trade By Country Groups, 2010

Exports Imports Trade BalanceUSD

million Per.

changePer.

share USD

millionPer.

changePer.

share USDmillion

EU 52,670 12 46 72,215 28 39 -19,545 Free zone 2,082 6 2 875 -9 1 1,207 Other 59,177 11 52 112,403 35 61 -53,226 Europe 11,388 1 10 30,301 17 16 -18,913 Africa 9,302 -8 8 6,412 13 4 2,890 America 6,085 25 5 16,798 37 9 -10,713 Middle East 23,320 22 21 16,094 68 9 7,226 Other Asia 8,578 11 8 41,414 42 22 -32,836 Other 403 -82 0 891 572 1 -488 Total 113,930 12 100 185,493 32 100 -71,563

Source: Turkstat

In foreign trade volume, Germany was in the first rank with a share of 9.7 percent, followed by Russia with 8.8 percent and Italy with 5.6 percent. Exports to Germany constituted 10 percent of total exports, and imports from Russia constituted 12 percent of total imports. Trade deficit with the group of other Asian countries was mainly produced by the trade with South Korea and China.

2.8. Balance of Payments

Due to rapid increase in imports, current account deficit increased by 251 percent to USD 48.6 billion. The contribution of the services balance to the current account balance reduced. The ratio of current account deficit to gdp rose from 2.3 percent to 6.6 percent.

Current Account Balance (USD million)

2002 2008 2009 2010

Current account balance -1,522 -41,947 -13,854 -48,561 -General merchandise -8,337 -53,022 -24,850 -56,354 -Exports 40,124 140,799 109,647 120,923 -Imports -48,461 -193,821 -134,497 -177,277 -Services (net) 7,879 17,121 16,749 14,245 -Tourism (net) 6,599 18,445 17,103 15,981 -Income (net) -5,637 -8,159 -7,816 -7,774 -Direct investments -86 -2,610 -2,732 -2,866 -Portfolio investments -835 972 267 -491 -Other investments -3,633 -6,455 -5,619 -4,329 -Interest expenditures -4,417 -8,477 -7,304 -5,423 -Current transfers 3,490 2,113 2,299 1,364 -Workers remittances 1,936 1,431 934 829


The balance of income had a deficit of USD 7.8 billion. Interest expenses, the most important sub-item of income balance, declined from USD 7.3 billion to USD 5.4

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Direct investments Capital flows

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billion. The contribution of net tourism income to the current account balance was USD 16 billion.

Capital and Financial Account (USD million)

2002 2008 2009 2010

Capital and financial account 1,161 33,536 8,923 44,545 -Capital account (net) 0 0 -42 -36 -Financial account (net) 1,161 33,536 8,965 44,581 -Direct invest. abroad (net) 863 15,720 6,856 7,154 -Portfolio investments (net) -593 -5,046 227 16,291 -Other investments (net) 891 24,563 1,993 33,935 -Net errors and omissions 149 5,653 5,068 4,016General balance -212 -2,758 791 14,958 -IMF account 6,365 1,701 -680 -2,159 -Official reserves -6,153 1,057 -111 -12,799


Due to the negative effects of global crisis, after a significant reduction in 2009, capital inflows recorded a very rapid return in 2010. Capital inflow increased by 400 percent on annual basis and reached USD 44.5 billion. Direct foreign capital inflow remained at a level of around USD 7 billion, while a rapid growth was recorded in portfolio investments and borrowings of financial institutions. Thus, net borrowing of financial institutions rose by USD 17 billion to USD 12 billion. The non-financial institutions continued to pay net debts.

Capital Flows and Direct Investments (USD billion)

On the other hand, net errors and commissions account gave a surplus of USD 4 general balance realized as USD 15 billion. A sum of USD 2.2 billion was paid to the International Monetary Fund, and official reserves increased by USD 12.8 billion.

2.9. Outstanding External Debt

Outstanding external debt increased by USD 21.6 billion to USD 290.4 billion in 2010. Outstanding external debt increased by USD 5.5 billion to USD 89 billion in public

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Public Private Total

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sector, and by USD 17.5 billion to USD 189.5 billion in private sector. External debts of the Central Bank reduced by USD 1.4 billion to USD 11.9 billion.

Long-term outstanding external debt declined by USD 7.3 billion, while short-term outstanding external debt increased by USD 28.9 billion. Among the long-term outstanding external debt, the outstanding debts of public sector (except for the Central Bank) rose by USD 4.7 billion to USD 84.6 billion, and long-term outstanding external debt of private sector decreased by USD 10.8 billion.

Outstanding External Debt (USD billion)*

2002 2008 2009 2010*

Long term 113.3 227.2 219.0 211.7 Public 63.6 75.0 79.9 84.6 Central Bank 20.3 12.2 11.5 10.3 Private 29.1 140.0 127.7 116.9 Financial institutions 4.8 41.1 35.4 34.2 Banks 3.0 30.0 28.0 28.3 Non-financial institutions 24.3 98.9 92.3 82.7Short term 16.4 50.4 49.7 78.6 Public 0.9 3.2 3.6 4.4 Central Bank 1.7 1.9 1.8 1.6 Banks 5.4 24.5 22.6 48.8 Non-bank 8.4 23.5 21.8 23.9Total 129.5 277.7 268.8 290.4

Source: Undersecretariat of Treasury *Provisional

The ratio of outstanding external debt to gdp declined by 4.1 percentage points to 39.5 percent, as compared to the end of 2009. The ratio of long-term debts to gdp reduced by 6.7 percentage points to 28.8 percent, while the ratio of short-term debts to gdp increased by 2.6 percentage points to 10.7 percent.

Outstanding External Debt (as percentage of gdp)

Of the total external debt, 31 percent were owned by the public sector, and 4 percent by the Central Bank. The share of the banking system in outstanding external debt

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was 26 percent, and non-bank sectors had a share of 39 percent. The ratio of public sector (excluding Central Bank) external debt to gdp was at 12 percent.

Out of the long-term external debt, a portion of USD 40 billion owed to official creditors, and USD 126 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. Furthermore, the bonds stock, comprised entirely of long-term bonds, was at the level of USD 46.6 billion as of December 2010. Private sector bonds took place among the stock of bonds for the first time since 2003. The private sector bonds realized as USD 1.2 billion.

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3. Turkish Banking System in 20101

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 2009.

31 of the banks were deposit banks, and 13 were development and investment banks. Out of deposit banks, 3 were state-owned, and 11 were private banks. The Saving Deposits Insurance Fund (SDIF) owned 1 bank. 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 2009 2010 Bank Branch Bank Branch Bank Branch

Deposit banks 40 6,087 32 8,991 32 9,423 State-owned banks 3 2,019 3 2,530 3 2,744 Private banks 20 3,659 11 4,390 11 4,582 SDIF banks 2 203 1 1 1 1 Foreign banks 15 206 17 2,070 17 2,096Development and investment banks 14 19 13 45 13 42Total 54 6,106 45 9,036 45 9,465

Source: The Banks Association of Turkey * Including branches in the Turkish Republic of Northern Cyprus and branches abroad.

Due to the reacceleration of growth in economy, the banks also continued to expand their branch networks, thereby creating new employment. Besides, technology-based investments continued in non-branch activities area, and the services and products offered to clients were diversified. Total number of branches increased by 429 to 9,465. The number of branches increased by 432 in the deposit banks group and decreased by 3 in development and investment banks group. The number of branches increased by 192 in private banks, 214 in state-owned banks and 26 in foreign banks. The number of branches reached its ever highest level as of the end of the year. As for all banks, the population per branch was around 7,280.

3.2. Number of Employees

The number of employees also continued to increase in 2010. The number of employees increased by 2,379 in state-owned banks, and by 1,362 in private banks, and by 2,338 in foreign banks, but reduced by 9 in the bank owned by SDIF. The number of employees increased by 31 in development and investment banks.

Similar to the number of branches, the number of employees also reached its ever highest level as of the end of the year. As for all banks, the population per employee of the banking sector was 384.

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

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5,000

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9,500

Branch Employee (right axis)


Number of Employees

2002 2009 2010

Deposit banks 118,329 167,064 173,134 State-owned banks 40,159 44,856 47,235 Private banks 66,869 82,271 83,633 SDIF banks 5,886 261 252 Foreign banks 5,416 39,676 42,014Development and investment banks 4,942 5,339 5,370Total 241,671 172,403 178,504

Source: The Banks Association of Turkey

Of the total bank employees, 97 were employed by deposit banks, and remaining 3 percent by development and investment banks. In the deposit banks group, the number of employees per bank in state-owned banks was 15.7 thousand, and the number of employees per bank in private banks was 7.6 thousand.

Number of Branches and Employees Per Bank

Branch Employee 2002 2009 2010 2002 2009 2010

Deposit banks 2,958 5,221 5,410 State-owned banks 673 843 915 13,386 14,952 15,745 Private banks 183 399 417 3,343 7,479 7,603 SDIF banks 102 1 1 2,943 261 252 Foreign banks 14 122 123 361 2,334 2,471Development and investment banks 353 411 413Total 972 2,337 1,456 2,283 3,831 3,967

Source: The Banks Association of Turkey

Of total employees in the banking sector, 26 percent were employed in state-owned banks, 47 percent in private banks, and 24 percent in foreign banks.

Number of Branches and Employees (2002-2010)

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T. Assets T. Assets/Gdp (right axis)

USD billon percent

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3.3. Size of the Balance Sheet

Total assets increased by 20 percent and TL 964 billion (USD 627 billion) as of the end of 2010 as compared to the previous year. The growth rate in total assets was 17 percent in dollar terms. The ratio of total assets to gdp rose by 3 percentage points to 87 percent. The ratio of total assets of TL 1,008 billion (USD 656 billion) to gdp realized as 91 percent, by including the participation banks.

Total Assets (USD billion, as percentage of gdp)

Considering the deposit banks group, the growth rate in total assets was 19 percent in state-owned banks, 20 percent in private banks and 26 percent in foreign banks. The rate of growth in balance sheets of development and investment banks was 15 percent.

Total Assets, December 2010

TL million

USD million

Per. change (TL)

Per. change (USD)

Deposit banks 933,250 606,952 21 17 State-owned banks 299,378 194,705 19 15 Private banks 498,141 323,973 20 16 Foreign banks 135,730 88,274 26 22 Develop. and invest. banks 30,966 20,139 15 11 Total 964,216 627,092 20 17

Source: BRSA

Total assets grew by 20 percent in TL terms. Depending on accelerated domestic demand and the fall in real interest rates, corporate customer demand for working capital and investments loans and the demand of retail customers for consumer loans increased.

Deposit remained as the most important resource of funds. On the other hand, due to the improvement in the conditions of borrowing from international markets, the use of loans from foreign creditors for project financing purposes also increased.

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Nominal Change in Balance Sheet Items (TL million)

Assets 2009 2010

Liquid assets 764 -6,133 Financial assets 67,884 24,579 Loans 19,817 125,661 Other assets 4,886 19,809 Total 93,351 163,916 -TL 94,700 129,626 -Fx -1,349 34,290

Liabilities 2009 2010

Deposits 52,352 96,041 Non-deposit funds 15,216 35,128 Shareholders’ equity 23,728 22,486 Other liabilities 2,055 10,261 Total 93,351 163,916 -TL 86,119 123,071 -Fx 7,232 40,845

Total balance sheet size of the banking sector increased by TL 164 billion in 2010. Of this increase 59 percent (TL 96 billion) stemmed from deposits; 21 percent (TL 35 billion) from non-deposit resources; 14 percent (TL 22 billion) from shareholders’ equity; and 6 percent (TL 10 billion) from other liabilities. Of the resources 77 percent (TL 126 billion) were allocated to loan facilities, 15 percent (TL 25 billion) to securities portfolio; and 12 percent (TL 20 billion) to other assets. As a result of decrease in the effects of global crisis, banks reduced their liquid assets set aside as reserves.

3.4. Market Shares

The share of deposit banks in the total assets was 97, and that of development and investment banks was 3 percent. In the deposit banks group the distribution of market shares remained the same in terms of total assets.

Market Shares of Groups (percentage)

T. assets T. deposits T. loans 02 09 10 02 09 10 02 09 10

Deposit banks 96 97 97 100 100 100 89 96 97 State-owned banks 36 31 31 39 37 38 20 27 29 Private banks 56 52 52 58 50 50 65 52 52 Foreign banks 3 13 13 2 13 12 4 17 15Develop. and invest. banks 4 3 3 - - - 11 4 3Total 100 100 100 100 100 100 100 100 100

Source: BRSA

On the other hand, the share of foreign banks in total deposits reduced by 1 percentage point to 12 percent, while the share of state-owned banks increased by 1 percentage point to 38 percent. The share of state-owned banks in total loans increased from 27 percent to 29 percent, while that of foreign banks reduced by 2 percentage points to 15 percent.

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3.5. Concentration

The shares of the largest five and the largest ten banks in total assets and deposits remained the same, while their shares in total loans increased by 2 percentage pointsand 1 percentage point to 57 percent and 86 percent, respectively.

Concentration in Banking Sector* (percentage)

2002 2007 2009 2010Largest five* T. assets 58 62 63 63 T. deposits 61 64 66 66 T. loans 55 57 55 57Largest ten* T. assets 81 85 87 87 T. deposits 86 89 91 91 T. loans 74 83 85 86

Source: The Banks Association of Turkey * In terms of total assets

As of the end of 2010, the largest five banks included 1 state-owned bank and 4 private banks, and the largest ten banks included 3 state-owned banks, 5 private and 2 foreign banks.

The Number of Banks by Asset Size (2010)

USD billion +0-2 2-5 5-10 10-20 20-40 40+ 02 10 02 10 02 10 02 10 02 10 10NumberDeposit b. 26 14 7 4 1 1 5 5 1 1 7 State 1 1 1 3 Private 11 3 5 2 1 4 1 4 Foreign 10 10 2 4 1 Fund 5 1 2Dev. inv. b. 13 10 1 1 2Total 39 24 8 5 1 3 5 5 1 1 7

There were 7 banks with an asset size above USD 40 billion, and 6 banks with an asset size between USD 10 billion and USD 40 billion. However, 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”

In the balance sheet, TL items continued to increase more rapidly than foreign exchange items. TL items and Fx items grew by 22 percent and 16 percent both at the assets and the liabilities side, respectively.

The share of TL items in the balance sheet rose due to appreciation of TL in real terms as a result of strong demand for TL and increase of use of external resources. On the other hand, particularly in the second half of the year, strong increase in demand for foreign exchange loan relatively limited the reduction in the share of foreign exchange items in the assets. The share of TL assets in balance sheet increased by 1 percentage point to 74 percent, and the share of TL liabilities rose by 2 percentage points to 70 percent.

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Assets Liabilities


Share of TL Items in Balance Sheet (2002 - 2010, percentage)

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. As a result, the share of TL assets in total assets was 80 percent in the state-owned banks and 69 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 79 percent in state-owned banks and 66 percent in private banks, respectively.

Fx Position by Groups* (percentage)

Per. share Per. share USD billion Fx assets Fx liabilities Fx assets-Fx liabilities 2009 2010 2009 2010 2009 2010

Deposit banks 27 26 32 30 -23.5 -27.0 State-owned banks 21 20 22 21 -1.5 -2.4 Private banks 32 31 36 34 -9.3 -9.4 Foreign banks 20 19 38 36 -12.7 -15.2Develop. and invest.banks 30 31 34 35 -0.8 -0.7Total 27 26 32 30 -24.2 -27.7

*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.

The difference between foreign exchange assets and foreign exchange liabilities which showed the balance sheet foreign exchange position in the banking sector was USD 27.7 billion in 2010. On the other hand, foreign exchange net general position gave a surplus of USD 18 million.

Out of USD 15.2 billion foreign exchange position belonged to foreign banks. The ratio of net foreign exchange position to shareholders’ equity was around 0.02 percent.

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Net General Fx Position (USD million)

2008 2009 2010

Deposit banks* -129 107 -10* State-owned banks -191 93 108 Private banks 44 98 44 Foreign banks 18 -84 -162Development and investment banks 38 -111 28Total 16 46 18

Source: BRSA Weekly Bulletin, *SDIF banks are excluded.

3.7.The Outlook of Banking Sector by Selected Indicators

3.7.1. Growth

Balance sheet size of deposit banks recorded an average growth of 21 percent in 2010.

Growth* (annual, percentage)

*Graph scale was limited for presentation purposes.

Out of 32 deposit banks active in the banking sector, 15 banks grew at a rate higher than the average of the sector. The balance sheet size of 14 deposit banks increased below 21 percent, while balance sheet of 3 deposit banks contracted.

3.7.2. Profitability

Return on equity in deposit banks was recorded as 17.8 percent on average as of December 2010. Return on equity in five banks was above the average, while 2 banks recorded loss.

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Return on Equity* (percentage)


3.7.3. Capital Adequacy

Capital adequacy of deposit banks was recorded as 17.7 percent. 18 banks had a capital adequacy ratio higher than the average.

Capital Adequacy* (percentage)


3.7.4. Non-Performing Loans

Non-performing loans declined. Reserves were set aside for 85 percent of non-performing loans of deposit banks.


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


The ratio of non-performing loans after provisions to total loans was 0.6 percent on average. This ratio was above average in 20 banks, while it was zero in 4 banks.

3.8. Structure of Assets

There were significant changes in the structure of assets especially in 2010. While the share of loans in total assets increased, the non-performing loans decreased. The share of securities portfolio, which was mainly composed of government domestic debt securities, reduced. Banks reduced the share of liquid assets due to the increase in borrowings from international markets, the acceleration in growth, and the fall in risk perceptions.

The Structure and Development of Assets

TL million

USD million

Per. change TL

Per. share 2009 2010

Liquid assets 99,434 64,669 -6 13 10Financial assets (FA) 286,426 186,281 9 33 30Trading invest. 6,875 4,472 25 1 1 Invest. for sale (net) 185,489 120,636 31 18 19 Invest. held to maturity (net) 94,062 61,174 -18 14 10Loans 497,861 323,791 34 47 52 Non-performing loans 18,821 12,240 -9 3 2 Specific provisions (-) 16,041 10,433 -8 2 2Permanent assets (PA) 24,121 15,687 12 3 3Subsidiaries 14,953 9,725 20 2 2Property and equipment (net) 9,168 5,962 0 1 1Discounts 28,001 18,211 14 3 3Other assets 28,372 18,452 95 2 3Total assets 964,216 627,092 20 100 100

Source: BRSA

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Loans/T. Assets Loans/Gdp


The growth rate in loans was 23 percent in the first half, and 34 percent as of the end of year on annual basis. The annual growth rate of the securities portfolio slowed down from 35 percent as of December 2009 to 9 percent as of December 2010. The share of loans in total assets rose by 5 percentage points to 52 percent, and the shares of securities portfolio and liquid assets declined by 3 percentage points each to 30 percent and 10 percent, respectively.

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 68 percent, and the share of loans borrowed by households was 32 percent, as of the end of 2010.

Total Loans and Securities (annual, percentage change)

The share of loans borrowed by households in total loans was 32 percent. The share of housing loans in consumer loans was 34 percent, credit cards 27 percent, and the automobile loans 3 percent.

Loans/ Total Assets and Loans/Gdp (percentage)

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According to the data published by BRSA, cash loans extended to Small and Medium-Size Enterprises (SMEs) increased by 51 percent, and non-cash loans increased by 26 percent. The share of loans extended to SMEs in the total loan stock increased by 1 percentage point to 22 percent as compared to 2009. The number of bank customers categorized as SMEs also increased by 9 percent to 1.9 million in 2010. The non-performing SME loans reduced by 15 percent to TL 5.9 billion, and their share in total SME loans declined from 8.3 percent to 4.7 percent.

Loans By Sectors* (TL million)

Per. change Per. share 2010 (annual) 2002 2009 2010

Corporate loans 381,803 36 86 67 68Retail loans 181,780 30 14 33 32Credit cards 49,098 17 9 9 9Consumer loans 132,682 36 5 23 24 Housing 61,660 34 1 11 11 Automobile 6,027 22 1 1 1 Other 64,995 39 3 11 12Total 563,583 34 100 100 100

Source: BRSA * Participation banks are included.

The share of loans extended to manufacturing industry in total corporate cash loans was 38 percent, while those of trade sector, services sector and construction sector were 15 percent, and 13 percent and 8 percent, respectively. The loans extended to energy sector, the share of which in the total loans was gradually increasing, realized as 7 percent of the total loans.

In deposit banks and development and investment banks, the non-performing loans before specific provisions reduced by 9 percent to TL 18.8 billion in 2010. Specific provisions were set aside for 85 percent of non-performing loans. This rate was 88 percent in state-owned banks, 87 percent in private banks and 81 percent in foreign banks. The ratio of non-performing loans after specific provisions to total loans reduced from 0.9 percent to 0.6 percent.

Non-Performing Loans* and Specific Provisions (percentage)

NPLs/ Total loans Provisions/ NPLs2002 2009 2010 2009 2010

Deposit banks 20 5.7 3.9 84.6 85.3 State-owned banks 24 4.6 3.4 86.7 87.8 Private banks 9 5.5 3.4 88.0 86.5 Foreign banks 5 8.1 6.2 75.3 80.7Development and investment banks 3 1.4 2 75.1 80.6Total 19 5.6 3.8 84.4 85.2

Source: BRSA * Before provisions

The non-performing loans, by including participation banks decreased by 9 percent in total, and 11 percent in consumer loans, and 8 percent in corporate loans. Among the types of loans extended to households, the most rapid reduction in non-performing loans was recorded in automobile loans with 29 percent.

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Non-Performing Loans/Total Loans (by sectors, percentage)*

2008 2009 2010 Corporate 3.5 4.8 3.3 Retail 3.6 6.0 4.1 Credit cards 6.5 10.3 7.9 Consumer 2.5 4.3 2.8 Housing 1.3 2.1 1.4 Automobile 5.9 10.3 6.0 Other 3.0 5.5 3.7 Total 3.6 5.2 3.5

Source: BRSA * Participation banks are included.

By market sectors, the ratio of non-performing loans to total loans was 4 percent in manufacturing industry, 4.2 percent in agriculture and stockbreeding sector, 4.1 percent in services sector, and 3.9 percent in trade sector. In the manufacturing industry, the sectors of which the ratio of non-performing loans to total loans was above the average were textile and electrical instruments.

3.9. Structure of Liabilities

Total deposits grew by 20 percent and reached 61 percent of total liabilities. TL equivalent of foreign exchange deposits increased by 6 percent, and its USD equivalent sum increased by 2 percent. The share of foreign exchange deposits in total liabilities declined by 2 percentage points to 18 percent. On the other hand, TL deposits increased by 27 percent and its share in total liabilities rose by 2 percentage points to 43 percent.

Total deposits were composed of TL deposits of 70 percent and foreign exchange deposits of 30 percent. The share of TL deposits in total deposits was 79 percent in state-owned banks, and 65 percent in private banks, and 69 percent in foreign banks.

The Structure and Development of Liabilities

TLmillion

USDmillion

Per. change (TL)

Per. share 2009 2010

Deposits 583,947 379,779 20 61 61 TL 411,381 267,548 27 41 43 Fx 172,566 112,231 6 20 18Non deposit funds 188,258 122,436 23 19 20Shareholder’s equity 128,831 83,787 21 13 13 Paid-in capital 44,848 29,167 13 5 5 Supplementary capital 70,746 46,011 21 7 7 Previous year income/loss 21,170 13,768 9 2 2 Current year income/loss -17,644 -11,475 1 -2 -2Other liabilities 63,180 41,090 19 7 6Total liabilities 964,216 627,092 20 100 100

Source: BRSA

Non-deposit funds, which constituted 17 percent of total funds, increased by 23 percent to TL 188 billion in 2010. The share of loans borrowed from abroad also increased by 1 percentage point to 12 percent. On the other hand, the funds from repurchase transactions declined by 5 percent and constituted 6 percent of total liabilities.

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Total Deposits by Bank Groups (TL million, 2010)

Percentage share

TL FX Total TL FX Total

Deposit banks 411,381 172,566 583,947 70 30 100 State-owned banks 172,811 46,819 219,630 79 21 100 Private banks 188,825 103,134 291,958 65 35 100 Foreign banks 49,746 22,613 72,359 69 31 100 Development and investment banks - - - - - - Total 411,381 172,566 583,947 70 30 100

Source: BRSA

Average maturity of total deposits was 2.4 months. Average maturity of foreign exchange deposits which was 2.7 months in December 2009 rose to 2.8 months as of December 2010, while average maturity of TL deposits remained the same at 2.2 months.

3.10. Shareholders’ Equity

Shareholders’ equity increased by 21 percent in TL terms to TL 129 billion, and increased by 17 percent in dollar terms to USD 84 billion. Free shareholders’ equity (shareholders’ equity – fixed assets – non-performing loans after provisions) grew from TL 82 billion (USD 55 billion) to TL 102 billion (USD 66 billion).

Shareholders’ Equity

TL million

USDmillion

Per. change (TL)

Per. change (USD)

Share in total liabilities (Per.)

Deposit banks 114,717 74,608 22 18 12 State-owned banks 30,021 19,525 28 24 10 Private banks 66,319 43,132 23 19 13 Foreign banks 18,377 11,952 16 12 14 Development and investment banks 14,114 9,179 12 8 46 Total 128,831 83,787 21 17 13

Source: BRSA

The ratio of shareholders’ equity to total assets remained almost the same at 13 percent. The ratio of free shareholders’ equity to total assets increased by 0.4 percentage points to 10.6 percent. The increase in free shareholders’ equity resulted mainly from decline in non-performing loans.

Free Shareholders’ Equity*

TL million Share in total assets (Per.)2002 2009 2010 2002 2009 2010

Deposit banks 3,053 69,597 88,542 1.5 9.0 9.5 State-owned banks 700 19,257 24,791 0.9 7.7 8.3 Private banks 1,262 38,195 48,759 1.1 9.2 9.8 Foreign banks 1,091 12,145 14,992 16.5 11.3 11.0Development and investment banks 2,550 11,910 13,387 27.0 44.0 43.2Total 5,602 81,507 101,929 2.6 10.2 10.6

Source: BRSA* Shareholders’ equity-permanent assets-loans under follow-up after specific provisions

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USD billion percent

0

10

20

30

40

50

60

70

80

90

02 03 04 05 06 07 08 09 10

35

10

15

20

25

30

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


Due to rapid growth in loan volume, capital adequacy standard ratio reduced by 1.6 percentage points to 19.1 percent at the end of 2010 compared with the end of 2009. In the deposit banks group, the capital adequacy ratio was 17 percent in state-owned banks, 18.2 percent in private banks, and 17.3 percent in foreign banks. Capital adequacy ratio of development and investment banks was around 58.7 percent.

Shareholders’ Equity, Free Shareholders’ Equity (USD million) Capital Adequacy (percentage)

Among the risk weighted items, the share of assets with a risk weight of 100 percent increased by 4 percentage points to 48 percent. The share of assets with a risk weight of 50 percent in total risk weighted items was 11 percent, and the share of assets with a risk weight of 25 percent was around 5 percent. Assets with a risk weight of zero represent one-forth of the total risk weighted items.

Distribution of Risk Weighted Items (percentage)

2002 2008 2009 2010Total Risk Weighted Items 100 100 100 100Total 0% Risk Weighted Items 42 28 29 25Total 20% Risk Weighted Items 13 6 6 5Total 50% Risk Weighted Items 12 11 10 11Total 100% Risk Weighted Items 58 45 44 48Value at Market Risk 6 2 3 3Value at Operational Risk ... 7 8 8

Source: BRSA

The growth in loan volume, the increase of collection probability of non-performing loans thanks to improvement of asset quality, the increase of borrowings from abroad and the fall of cost the appreciation of TL in real terms, the increase in demand for banking services and products, and the measures taken for savings in operating expenses all supported the growth in profit volume. On the other hand, particularly ceasing of fall in interest rates, the continuing shrinkage in interest margin, the investment expenditures aimed at extending the network of activities and expanding the range of services and products, and the non-interest margin remaining at negative side were the basic factors limiting the profit volume. Thus, net profit of the banking

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-10

-8

-6

-4

-2

0

2

4

6

8

10

04 05 06 07 08 09 10


sector rose by 9 percent to 21.2 billion TL. Net profit increased by 7 percent in state-owned banks and 17 percent in private banks, while it decreased by 9 percent and 15 percent in foreign banks and development and investment banks, respectively.

Net Profit-Loss, 2010 Per. changeTL million USD million TL USD

Deposit banks 20,324 13,218 11 6 State-owned banks 6,881 4,475 7 3 Private banks 11,553 7,514 17 13 Foreign banks 1,890 1,229 -9 -12Development and investment banks 846 550 -15 -18Total 21,170 13,768 9 5

Source: BRSA

The return on equity reduced by 1.9 percentage points to 16.4 percent. Despite this, the return on equity remained 7.8 percentage points above the return on government domestic debt instruments. The return on assets declined by 0.2 percentage points to 2.2 percent.

Difference Between Return on Equity and Return on Government Bonds(percentage)

Profitability ratios declined in all bank groups. The state-owned deposit banks had the highest return on equity with 22.9 percent.

Return on Assets and Return on Equity, 2010

Return on assets Return on equity (percentage) (percentage)

Deposit banks 2.2 17.7 State-owned banks 2.3 22.9 Private banks 2.3 17.4 Foreign banks 1.4 10.3 Development and investment banks 2.7 6.0 Total 2.2 16.4 Source: BRSA

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3.11. Income Expenditure Structure

In the banking system, interest income and interest expenses declined by 9 percent, and 11 percent, respectively. Accordingly, net interest income reduced by 8 percent. On the other hand, net interest income after specific provisions rose by 4 percent to TL 32.2 billion due to the performance of collection of non-performing loans which was better than the expectations. Net non-interest income margin showed a deficit of TL 6 billion. Net profit of the period after tax provisions grew by 9 percent to TL 21.2 billion. Net non-interest income reduced by 11 percent to TL 6 billion. The increase in operating expenses negatively affected the increase in net non-interest income and positively affected the increase in other non-interest income.

Income-Expenditure Structure, December 2010

TLmillion

USDmillion

Per. change (TL)

Per. change (USD)

Interest income 74,208 48,262 -9 -12Interest expense 37,045 24,093 -11 -14Net interest income 37,163 24,169 -8 -11-NPL provisions (-) 4,989 3,245 -46 -48Net interest income after prov. 32,174 20,925 4 1Non interest income 20,724 13,478 17 13Net fees and commission income 823 535 7 4Banking services income 10,804 7,026 6 2Net trading income/expense -439 -285 -147 -145Net foreign exchange income 608 395 -16 -19Other non interest income 8,929 5,807 75 70Total operating expense 26,707 17,369 9 6 -Wages 10,935 7,112 12 8Net non interest income -5,982 -3,891 -11 -14Net income before tax provisions 26,191 17,034 8 5Tax provisions 5,021 3,266 4 0Net income 21,170 13,768 9 6

Source: BRSA

3.12. Capital Structure

The capital structure of deposit banks and development and investment banks showed that shares representing 20 percent of sector’ shareholders’ equity were offered to public, and 56 percent thereof were held by resident persons and entities, while the remaining 24 percent were held by non-resident persons and entities, as of December 2010.

Shareholders’ Equity by Owners (percentage) Other

Public offered Residents Non residents

Deposit banks 22.2 51.4 26.4 State-owned banks 13.6 86.4 0.0 Private banks 32.1 49.4 18.5 Foreign banks 0.7 1.3 98.0Dev. and investment banks 3.3 93.2 3.4Total 20.1 56.0 23.9

Source: Banks Association of Turkey

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By the bank groups, the highest public offering rate of 32.1 percent owned by private banks, and the lowest public offering rate of 0.7 percent owned by foreign banks. 93 percent of shareholders’ equity of development and investment banks, and 86 percent of shareholders’ equity of state-owned banks owned by residents, while this rate was 49 percent in private banks. The share of non-residents in the shareholders’ equity of foreign banks was 98 percent, and it was 18.5 percent in private banks and 3 percent in development and investment banks.

3.13. Off-Balance Sheet Items

In 2010, guaranties and warranties item increased by 24 percent, and commitments item by 78 percent. The rate of increase in total off-balance sheet items was 67 percent.

Off-Balance Sheet Items, December 2010

TL USD Per. change million million (TL) (USD)

Off balance sheet items 887,450 577,166 67 61Guaranties and warranties 142,126 92,434 24 20Commitments 745,324 484,732 78 73 Derivatives 385,023 250,405 59 54 Other commitments 360,301 234,327 106 99

Source: BRSA

By sub-items off-balance sheet, the derivative financial instruments which particularly included the foreign exchange rate risk hedging transactions, increased by 59 percent and other commitments item by 106 percent on annual basis. The increase in other commitments stemmed from accounting procedure of the opened up credit facilities' balances that were not actually extended yet.

3.14. Numbers of ATM, POS and Credit Cards

According to the data published by the Interbank Card Center, total number of credit cards increased by 6 percent to 47 million as of December 2010 compared with the end of 2009. In the same period, total number of debit cards increased by 8 percent and reached 69.9 million. The numbers of POS devices and ATMs also increased by 5 percent and 16 percent to 1,824,228 and 27,649, respectively in 2010.

Number of ATM, POS and Cards

Dec. 2009 Dec. 2010 Per. change

Total credit card (‘000) 44,393 46,956 6 Total debit card (‘000) 64,662 69,916 8 POS (‘000) 1,739 1,824 5 ATM 23,800 27,649 16Credit card trans. vol. (TL billion)* 205 234 14Debit card trans. vol. (TL billion)* 188 217 15Source: Interbank Card Center * Usage in Turkey

Credit card transaction volume increased by 14 percent and reached TL 234 billion while the debit card transaction volume increased by 15 percent and reached TL 217

I-45


billion in 2010. The ratios of debit card and credit card transaction volumes to gdp were 20 percent and 21 percent, respectively.

3.15. Internet Banking Statistics

The number of internet banking customers increased by 13 percent and reached 6.7 million in 2010 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

Dec. 2009 Dec. 2010 Per. change Number of active custom. (‘000) 5,949 6,694 13Financial transactions (TL billion) 151 190 26Investment transactions (TL billion) 68 74 9 Credit card transactions. (TL billion) 4,9 6,2 27Other financial transactions (TL billion) 15,1 19,4 28Total (TL billion) 239 290 21Source: Banks Association of Turkey

Internet banking transactions increased by 21 percent to TL 290 billion in 2010 compared with 2010. The financial transactions consisted mainly of transfers increased by 26 percent, credit card transactions by 27 percent, investment transactions by 9 percent, and other financial transactions by 28 percent.

I-46

II-1

II-3

General Information (*)

Date of Establishment : 1958

Members : Deposit banks and development andinvestment banks operating in Turkey

Chairman of the Board : Hüseyin Aydın - Türkiye Halk Bankası A. .

Deputy Chairman : Varol Civil - Türk Ekonomi Bankası A. .

Board of Directors : Türkiye Cumhuriyeti Ziraat Bankası A. .,Türkiye Bankası A. .,Türkiye Garanti Bankası A. ., Akbank T.A. .,Yapı ve Kredi Bankası A. .,Türkiye Vakıflar Bankası T.A.O., Türkiye Halk Bankası A. ., Finans Bank A. .,Türk Ekonomi Bankası A. ., HSBC Bank A. .,

ekerbank T.A. .,Türkiye Sınai Kalkınma Bankası A. .,Turkland Bank A. .

Auditors : Denizbank A. .,Türk Eximbank, Eurobank Tekfen A. .

Secretary General : Dr. Ekrem Keskin

Head Office : Nispetiye Cad. Akmerkez, B3 Blok, Kat 1334340 Etilerstanbul

Turkey

Phone : 90-212- 282 09 73Fax : 90-212- 282 09 46URL : www.tbb.org.trE-mail : [email protected]

Number of Employees : 40

Ankara Representative Phone : 90-312-419 49 55Office Fax : 90-312-417 66 59

stanbul Training Center Phone : 90-212-233 01 50, 233 01 53Fax : 90-212-233 01 83

(*) Information provided as of May 6, 2011

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II-9

• Deposit Banks

− State-owned Banks− Privately-owned Banks− Banks Under the Deposit Insurance Fund− Foreign Banks

• Development and Investment Banks

The Banking System in Turkey

Assets(USD Million)

Dec. 2010 % Dec. 2009 %TC FC Total Distr. TC FC Total Distr.

Cash and Balances with the Central Bank 19,211 19,589 38,800 6.2 19,741 13,598 33,338 6.2Fin.ass.where fair value cha. is refl.to I/S (Net) 6,211 1,645 7,857 1.3 5,959 1,003 6,962 1.3

Financial assets held for trading 5,172 1,645 6,817 1.1 4,507 1,001 5,508 1.0Public sector debt securities 3,901 594 4,495 0.7 3,311 504 3,815 0.7Securities representing a share in capital 6 0 6 0.0 22 0 22 0.0Derivative financial assets held for trading 1,168 878 2,046 0.3 1,163 492 1,655 0.3Other marketable securities 97 174 271 0.0 10 6 15 0.0

Fin.assets clas. as fair value change is refl.to I/S 1,039 0 1,039 0.2 1,453 2 1,454 0.3Public sector debt securities 71 0 71 0.0 53 2 54 0.0Securities representing a share in capital 0 0 0 0.0 0 0 0 0.0Loans 969 0 969 0.2 1,400 0 1,400 0.3Other marketable securities 0 0 0 0.0 0 0 0 0.0

Banks 7,405 13,808 21,213 3.4 4,777 22,081 26,858 5.0Money Market Securities 8,074 0 8,074 1.3 8,085 681 8,766 1.6

Interbank money market placements 676 0 676 0.1 8,060 128 8,187 1.5Istanbul Stock Exc. money market placements 10 0 10 0.0 20 0 20 0.0Receiv. from reverse repurchase agreements 7,388 0 7,388 1.2 5 553 558 0.1

Financial Assets Available for Sale (Net) 111,176 18,088 129,264 20.7 83,879 17,486 101,364 18.9Securities representing a share in capital 196 115 311 0.0 124 78 202 0.0Public sector debt securities 109,286 14,120 123,406 19.7 83,486 13,280 96,766 18.0Other marketable securities 1,694 3,853 5,547 0.9 269 4,128 4,397 0.8

Loans 236,661 94,285 330,946 52.9 184,838 71,339 256,177 47.7Loans 234,787 94,264 329,051 52.6 182,744 71,277 254,021 47.3

Loans granted to the Banks risk group 2,198 2,915 5,113 0.8 1,546 1,579 3,125 0.6Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 232,589 91,349 323,939 51.8 181,199 69,698 250,897 46.7

Loans under follow-up 12,089 188 12,277 2.0 13,685 213 13,898 2.6Specific provisions (-) 10,216 167 10,382 1.7 11,592 150 11,742 2.2

Factoring Receivables 175 99 273 0.0 111 23 134 0.0Investments held to Maturity (Net) 51,867 11,791 63,657 10.2 63,945 16,380 80,325 15.0

Public sector debt securities 51,827 11,664 63,492 10.1 63,938 15,379 79,317 14.8Other marketable securities 39 127 166 0.0 7 1,001 1,008 0.2

Investments and Associates (Net) 824 77 901 0.1 829 158 987 0.2Accounted with equity method 0 0 0 0.0 50 128 178 0.0Non-consolidated investments and associates 824 77 901 0.1 779 30 809 0.2

Financial investments and associates 372 77 449 0.1 307 30 337 0.1Non-financial investments and associates 452 0 452 0.1 472 0 472 0.1

Subsidiaries (Net) 6,491 2,323 8,814 1.4 5,398 1,960 7,358 1.4Financial subsidiaries 4,587 2,317 6,904 1.1 3,949 1,955 5,904 1.1Non-financial subsidiaries 1,905 5 1,910 0.3 1,449 5 1,454 0.3

Joint Ventures (Business Partners) (Net) 20 28 48 0.0 1 17 19 0.0Accounted with equity method 0 0 0 0.0 0 0 0 0.0Non-consolidated joint ventures 20 28 48 0.0 1 17 19 0.0

Financial joint ventures 16 28 44 0.0 0 17 17 0.0Non-financial joint ventures 4 0 4 0.0 1 0 1 0.0

Recivables From Leasing Transactions 3 52 54 0.0 1 104 105 0.0Finance lease receivables 2 53 55 0.0 0 110 110 0.0Operational leasing receivables 1 0 1 0.0 0 0 0 0.0Others 0 0 0 0.0 1 0 1 0.0Unearned income (-) 1 2 2 0.0 0 6 6 0.0

Derivative Financial Assets Held for Hedging 170 10 180 0.0 221 13 234 0.0Fair value hedges 48 0 48 0.0 107 3 111 0.0Cash flow hedges 122 10 132 0.0 113 10 123 0.0Hedges for invest. made in foreign countries 0 0 0 0.0 0 0 0 0.0

Property and Equipment (Net) 6,471 7 6,479 1.0 6,733 8 6,741 1.3Intangible Assets (Net) 1,228 1 1,229 0.2 1,203 2 1,205 0.2

Goodwill 691 0 691 0.1 715 0 715 0.1Other 536 1 538 0.1 489 2 490 0.1

Real Estates for Investment Purpose (Net) 21 0 21 0.0 14 0 14 0.0Assets for Tax 1,374 0 1,374 0.2 1,376 0 1,376 0.3

Current assets for tax 4 0 4 0.0 105 0 105 0.0Deferred assets for tax 1,370 0 1,370 0.2 1,271 0 1,271 0.2

Prop.&Equ.for Sale p. and from Term.Op.(Net) 287 0 287 0.0 239 0 239 0.0Other Assets 4,357 1,742 6,099 1.0 3,583 1,116 4,699 0.9

Total Assets 462,024 163,545 625,570 100.0 390,932 145,969 536,901 100.0

II-10

The Banking System in Turkey December 2010

Liabilities(USD Million)


Deposits 278,112 121,654 399,766 63.9 223,956 117,104 341,060 63.5Deposits held by the Banks risk group 9,680 5,345 15,025 2.4 5,747 5,477 11,224 2.1Other 268,432 116,309 384,742 61.5 218,209 111,626 329,836 61.4

Derivative Finan. Liabilities Held for Trading 1,412 918 2,330 0.4 1,051 587 1,639 0.3Funds Borrowed 9,920 50,782 60,702 9.7 8,018 39,018 47,036 8.8Money Market Takings 29,869 7,661 37,530 6.0 35,308 5,899 41,207 7.7

Interbank money market takings 0 0 0 0.0 0 147 147 0.0Istanbul Stock Exc. money market takings 42 0 42 0.0 15 0 15 0.0Funds provided under repurchase agreements 29,828 7,661 37,489 6.0 35,292 5,752 41,044 7.6

Marketable Securities Issued (Net) 1,038 1,012 2,049 0.3 70 0 70 0.0Bills 937 0 937 0.1 35 0 35 0.0Asset backed securities 0 0 0 0.0 0 0 0 0.0Bonds 100 1,012 1,112 0.2 35 0 35 0.0

Funds 4,479 457 4,936 0.8 4,097 161 4,258 0.8Borrower funds 158 457 615 0.1 188 161 349 0.1Others 4,321 0 4,321 0.7 3,909 0 3,909 0.7

Miscellaneous Payables 10,675 1,882 12,557 2.0 8,645 1,005 9,650 1.8Other External Resources 4,138 1,910 6,049 1.0 3,465 1,192 4,658 0.9Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 65 16 81 0.0 29 35 64 0.0

Finance leasing payables 81 17 98 0.0 35 38 74 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 (-) 16 1 17 0.0 7 3 9 0.0

Derivative Finan. Liabilities Held for Hedging 902 92 994 0.2 884 38 922 0.2Fair value hedges 404 18 422 0.1 298 29 327 0.1Cash flow hedges 498 74 572 0.1 586 9 595 0.1Hedges for invest. made in foreign countries 0 0 0 0.0 0 0 0 0.0

Provisions 8,471 524 8,996 1.4 8,302 540 8,842 1.6General provisions 2,796 387 3,183 0.5 2,376 414 2,790 0.5Restructuring reserves 8 0 8 0.0 0 0 0 0.0Reserves for employee benefit 1,546 0 1,546 0.2 1,318 1 1,319 0.2Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 4,121 137 4,259 0.7 4,608 125 4,733 0.9

Liabilities for Tax 1,782 7 1,789 0.3 1,651 11 1,662 0.3Current liabilities for tax 1,729 7 1,735 0.3 1,586 11 1,598 0.3Deferred liabilities for tax 54 0 54 0.0 64 0 64 0.0

Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 2 2 0.0 0 1 1 0.0Subordinated Loans 120 3,715 3,835 0.6 124 4,124 4,248 0.8Shareholders' Equity 83,335 618 83,954 13.4 71,098 486 71,584 13.3

Paid-in capital 29,167 0 29,167 4.7 26,762 0 26,762 5.0Supplementary capital 12,982 608 13,590 2.2 11,901 478 12,379 2.3

Share premium 2,044 0 2,044 0.3 2,117 0 2,117 0.4Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 5,135 693 5,828 0.9 3,209 503 3,712 0.7Revaluation changes of property and equip. 497 0 497 0.1 515 0 515 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. 78 0 78 0.0 57 0 57 0.0Hedging funds (active part) -349 -85 -434 -0.1 -428 -25 -453 -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 5,577 0 5,577 0.9 6,432 0 6,432 1.2

Profit reserves 38,486 10 38,497 6.2 31,105 9 31,114 5.8Legal reserves 4,924 3 4,927 0.8 4,251 3 4,254 0.8Status reserves 24 0 24 0.0 19 0 19 0.0Extraordinary reserves 32,966 0 32,966 5.3 26,443 0 26,443 4.9Other profit reserves 572 7 580 0.1 392 6 397 0.1

Profit or loss 2,699 0 2,699 0.4 1,330 0 1,330 0.2Prior years income/loss -11,193 0 -11,193 -1.8 -11,766 0 -11,766 -2.2Current year income/loss 13,892 0 13,892 2.2 13,096 0 13,096 2.4

Total Liabilities 434,319 191,250 625,570 100.0 366,699 170,202 536,901 100.0

II-11

The Banking System in Turkey

Off Balance Sheet Commitments(USD Million)

Dec. 2010 Dec. 2009TC FC Total TC FC Total

Guarantees and Warranties 40,160 52,237 92,397 30,705 46,201 76,906Letters of guarantee 36,740 29,568 66,309 29,191 27,928 57,119Bank acceptances 16 2,293 2,309 3 1,982 1,985Letters of credit 1,017 17,085 18,101 11 13,623 13,634Prefinancing given as guarantee 0 40 40 0 15 15Endorsements 0 468 468 0 351 351Other guarantees and warrantees 2,387 2,784 5,171 1,500 2,303 3,803

Commitments 173,102 62,009 235,112 96,641 29,292 125,933Irrevocable commitments 101,055 20,659 121,714 89,655 25,184 114,839Revocable commitments 72,047 41,351 113,398 6,986 4,108 11,094

Derivative Financial Instruments 80,314 169,764 250,079 57,729 107,803 165,531Derivative finan. instruments held for hedging 11,750 10,160 21,910 8,389 3,453 11,842Trading transactions 68,565 159,604 228,169 49,340 104,350 153,690

Custody and Pledged Securities 6,787,229 350,954 7,138,183 5,260,267 272,760 5,533,027Items held in Custody 6,025,221 26,694 6,051,915 4,687,814 25,187 4,713,001Pledged Items 723,418 306,080 1,029,498 542,181 240,384 782,566Acccepted independent guaran. and warran. 38,590 18,179 56,769 30,271 7,189 37,460

Total Off Balance Sheet Commitments 7,080,806 634,965 7,715,771 5,445,341 456,055 5,901,397

Income-Expenditure(USD Million)

Dec. 2010 Dec. 2009

Interest Income 49,376 56,216Interest on loans 30,998 35,179Interest received from reserve deposits 191 475Interest received from banks 728 885Interest received from money market transactions 293 489Interest received from marketable securities portfolio 16,951 18,920Other interest income 215 268

Interest Expenses 24,178 28,099Interest on deposits 19,960 22,956Interest on money market transactions 1,958 2,494Interest on funds borrowed 1,973 2,356Interest on securities issued 43 2Other interest expenses 244 291

Net Interest Income/Expenses 25,198 28,117Net Fees and Commissions Income/Expenses 6,454 6,241

Fees and commissions received 7,585 7,473Fees and commissions paid 1,131 1,232

Dividend Income 547 518Trading Profit/Loss (net) 110 1,118

Profit/loss on trading account securities 1,742 1,780Profit/losses on derivative financial transactions -2,002 -1,117Foreign exchange profit/loss 370 455

Other Operating Income 5,114 2,723Total Operating Income/Expenses 37,424 38,718Provision for Loan Losses or other Receivables (-) 4,387 8,126

Specific provisions of banks loans and other receivables* 3,150 6,176General provision expenses* 727 481

Other Operating Expenses (-) 15,986 14,410Personnel Expenses* 7,105 6,560

Net Operating Profit/Loss 17,051 16,181Surplus 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 17,051 16,181Provisions for Taxes on Income from Continuing Operations (±) -3,218 -3,181Net Profit/Loss from Continuing Operations 13,833 13,001Net Profit/Loss Before Taxes from Terminated Operations 66 132Provisions for Taxes on Income from Terminated Operations (±) -6 -38Net Profit/Loss from Terminated Operations 59 95

Net Profit/Losses 13,892 13,096

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

II-12

The Banking System in Turkey December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios

Shareholders’ Equity / (Amount subject to credit + market + operational risk) 19.2 20.9

Shareholders' Equity / Total Assets 13.4 13.3

(Shareholders' Equity - Permanent Assets) / Total Assets 10.3 9.8

Net On Balance Sheet Position / Total Shareholders' Equity -17.8 -17.9

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

Balance-Sheet Ratios

TC Assets / Total Assets 73.9 72.8

TC Liabilities / Total Liabilities 69.4 68.3

FC Assets / FC Liabilities 85.5 85.8

TC Deposits / Total Deposits 69.6 65.7

TC Loans / Total Loans and Receivables 71.5 72.2

Total Deposits / Total Assets 63.9 63.5

Funds Borrowed / Total Assets 9.7 8.8

Assets Quality

Financial Assets (net) / Total Assets 32.1 35.2

Total Loans and Receivables / Total Assets 52.9 47.7

Total Loans and Receivables / Total Deposits 82.8 75.1

Loans Under Follow-up (gross) / Total Loans and Receivables 3.7 5.4

Loans Under Follow-up (net) / Total Loans and Receivables 0.6 0.8

Specific Provisions / Loans Under Follow-up 84.6 84.5

Permanent Assets / Total Assets 3.1 3.5

Consumer Loans / Total Loans and Receivables 33.3 33.7

Liquidity

Liquid Assets / Total Assets 32.8 33.0

Liquid Assets / Short-term Liabilities 54.7 54.3

TC Liquid Assets / Total Assets 24.3 22.8

Profitability

Net Profit/Losses / Total Assets 2.2 2.4

Net Profit/Losses / Total Shareholders' Equity 16.5 18.3

Profit/Losses Before Taxes after Continuing Operations / Total Assets 2.7 3.0

Income-Expenditure Structure

Net Interest Income After Specific Provisions / Total Assets 3.5 4.1

Net Interest Income After Specific Provisions / Total Operating Income (Expenses) 58.9 56.7

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

Other Operating Expenses / Total Assets 2.6 2.7

Personnel Expenses / Other Operating Expenses 44.4 45.5

Non-interest Income (net) / Other Operating Expenses 76.5 73.6

Quarterly profitability and income-expenditure ratios, except year-end figures, should be considered periodically.

II-13

Deposit Banks

Assets(USD Million)


Cash and Balances with the Central Bank 19,129 19,403 38,533 6.4 19,652 13,518 33,169 6.4Fin.ass.where fair value cha. is refl.to I/S (Net) 5,889 1,626 7,515 1.2 5,709 991 6,700 1.3

Financial assets held for trading 4,849 1,626 6,476 1.1 4,257 989 5,246 1.0Public sector debt securities 3,591 591 4,182 0.7 3,082 501 3,584 0.7Securities representing a share in capital 6 0 6 0.0 22 0 22 0.0Derivative financial assets held for trading 1,156 861 2,017 0.3 1,143 482 1,625 0.3Other marketable securities 97 174 271 0.0 9 6 15 0.0

Fin.assets clas. as fair value change is refl.to I/S 1,039 0 1,039 0.2 1,453 2 1,454 0.3Public sector debt securities 71 0 71 0.0 53 2 54 0.0Securities representing a share in capital 0 0 0 0.0 0 0 0 0.0Loans 969 0 969 0.2 1,400 0 1,400 0.3Other marketable securities 0 0 0 0.0 0 0 0 0.0

Banks 4,536 13,370 17,906 3.0 3,304 21,480 24,784 4.8Money Market Securities 7,516 0 7,516 1.2 6,381 681 7,062 1.4



Loans 229,359 89,265 318,624 52.6 177,834 67,267 245,102 47.3Loans 227,528 89,244 316,772 52.3 175,796 67,205 243,000 46.8

Loans granted to the Banks risk group 1,803 2,757 4,560 0.8 1,254 1,461 2,715 0.5Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 225,725 86,487 312,213 51.6 174,542 65,744 240,286 46.3



Public sector debt securities 51,036 11,631 62,668 10.4 63,449 15,345 78,795 15.2Other marketable securities 39 124 163 0.0 7 992 999 0.2








Property and Equipment (Net) 6,339 7 6,346 1.0 6,584 8 6,592 1.3Intangible Assets (Net) 1,215 1 1,217 0.2 1,193 2 1,195 0.2

Goodwill 691 0 691 0.1 715 0 715 0.1Other 524 1 525 0.1 478 2 480 0.1

Real Estates for Investment Purpose (Net) 0 0 0 0.0 7 0 7 0.0Assets for Tax 1,351 0 1,351 0.2 1,292 0 1,292 0.2

Current assets for tax 4 0 4 0.0 51 0 51 0.0Deferred assets for tax 1,347 0 1,347 0.2 1,241 0 1,241 0.2

Prop.&Equ.for Sale p. and from Term.Op.(Net) 285 0 285 0.0 237 0 237 0.0Other Assets 4,320 1,652 5,972 1.0 3,546 1,050 4,597 0.9

Total Assets 448,182 157,273 605,455 100.0 378,167 140,566 518,733 100.0

II-14

Deposit Banks December 2010




Derivative Finan. Liabilities Held for Trading 1,394 898 2,292 0.4 1,037 580 1,617 0.3Funds Borrowed 9,628 44,862 54,490 9.0 7,932 33,537 41,469 8.0Money Market Takings 29,161 7,568 36,730 6.1 34,373 5,868 40,241 7.8


Marketable Securities Issued (Net) 629 1,012 1,640 0.3 0 0 0 0.0Bills 629 0 629 0.1 0 0 0 0.0Asset backed securities 0 0 0 0.0 0 0 0 0.0Bonds 0 1,012 1,012 0.2 0 0 0 0.0


Miscellaneous Payables 10,027 1,838 11,865 2.0 7,882 945 8,827 1.7Other External Resources 3,764 1,673 5,437 0.9 3,068 978 4,046 0.8Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 65 16 81 0.0 29 35 64 0.0



Provisions 8,282 524 8,806 1.5 8,117 540 8,656 1.7General provisions 2,725 387 3,112 0.5 2,315 414 2,728 0.5Restructuring reserves 8 0 8 0.0 0 0 0 0.0Reserves for employee benefit 1,485 0 1,485 0.2 1,267 1 1,269 0.2Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 4,065 137 4,202 0.7 4,534 125 4,659 0.9

Liabilities for Tax 1,725 7 1,731 0.3 1,537 11 1,548 0.3Current liabilities for tax 1,674 7 1,680 0.3 1,473 11 1,485 0.3Deferred liabilities for tax 51 0 51 0.0 64 0 64 0.0





Profit or loss 2,168 0 2,168 0.4 747 0 747 0.1Prior years income/loss -11,176 0 -11,176 -1.8 -11,685 0 -11,685 -2.3Current year income/loss 13,344 0 13,344 2.2 12,432 0 12,432 2.4


II-15

Deposit Banks



Guarantees and Warranties 36,954 49,611 86,565 28,084 44,469 72,553Letters of guarantee 35,322 28,276 63,599 27,744 27,268 55,011Bank acceptances 16 2,289 2,305 3 1,967 1,970Letters of credit 1,017 16,565 17,581 11 13,341 13,352Prefinancing given as guarantee 0 40 40 0 15 15Endorsements 0 20 20 0 28 28Other guarantees and warrantees 599 2,421 3,020 326 1,851 2,177



Custody and Pledged Securities 1,029,731 317,473 1,347,205 832,733 259,201 1,091,934Items held in Custody 275,631 26,482 302,113 266,242 24,934 291,176Pledged Items 716,705 283,928 1,000,632 536,814 227,310 764,124Acccepted independent guaran. and warran. 37,396 7,064 44,460 29,676 6,957 36,633



Dec. 2010 Dec. 2009




Fees and commissions received 7,489 7,393Fees and commissions paid 1,118 1,220


Profit/loss on trading account securities 1,734 1,769Profit/losses on derivative financial transactions -1,983 -1,157Foreign exchange profit/loss 335 460




Net Operating Profit/Loss 16,389 15,386Surplus 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 16,389 15,386Provisions for Taxes on Income from Continuing Operations (±) -3,105 -3,049Net Profit/Loss from Continuing Operations 13,284 12,337Net Profit/Loss Before Taxes from Terminated Operations 66 132Provisions for Taxes on Income from Terminated Operations (±) -5 -38Net Profit/Loss from Terminated Operations 60 95



II-16

Deposit Banks December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-17

State-owned Banks

Assets(USD Million)


Cash and Balances with the Central Bank 8,483 4,239 12,722 6.6 7,491 3,024 10,515 6.3Fin.ass.where fair value cha. is refl.to I/S (Net) 168 61 230 0.1 318 78 396 0.2

Financial assets held for trading 168 61 230 0.1 318 78 396 0.2Public sector debt securities 148 23 171 0.1 316 50 366 0.2Securities representing a share in capital 0 0 0 0.0 0 0 0 0.0Derivative financial assets held for trading 19 38 57 0.0 1 28 29 0.0Other 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 129 4,361 4,490 2.3 227 6,029 6,256 3.7Money Market Securities 1,445 0 1,445 0.7 2,286 0 2,286 1.4


Financial Assets Available for Sale (Net) 34,491 5,108 39,599 20.4 24,924 5,584 30,509 18.2Securities representing a share in capital 79 43 122 0.1 19 12 31 0.0Public sector debt securities 34,277 4,990 39,268 20.3 24,882 4,507 29,389 17.5Other marketable securities 134 74 209 0.1 23 1,065 1,088 0.6

Loans 75,298 20,046 95,344 49.2 55,137 14,624 69,761 41.5Loans 74,908 20,046 94,954 49.0 54,723 14,624 69,347 41.3

Loans granted to the Banks risk group 470 314 784 0.4 297 162 459 0.3Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 74,438 19,731 94,170 48.6 54,426 14,461 68,888 41.0






Subsidiaries (Net) 812 436 1,249 0.6 430 373 803 0.5Financial subsidiaries 717 436 1,154 0.6 330 373 703 0.4Non-financial subsidiaries 95 0 95 0.0 100 0 100 0.1





Property and Equipment (Net) 1,872 4 1,876 1.0 2,039 4 2,043 1.2Intangible Assets (Net) 68 1 69 0.0 47 1 49 0.0

Goodwill 0 0 0 0.0 0 0 0 0.0Other 68 1 69 0.0 47 1 49 0.0

Real Estates for Investment Purpose (Net) 0 0 0 0.0 0 0 0 0.0Assets for Tax 407 0 407 0.2 426 0 426 0.3

Current assets for tax 1 0 1 0.0 2 0 2 0.0Deferred assets for tax 406 0 406 0.2 425 0 425 0.3

Prop.&Equ.for Sale p. and from Term.Op.(Net) 74 0 74 0.0 62 0 62 0.0Other Assets 1,187 131 1,318 0.7 791 185 976 0.6

Total Assets 154,597 39,253 193,850 100.0 132,121 35,953 168,074 100.0

II-18

State-owned Banks December 2010



Deposits 115,968 32,497 148,465 76.6 94,585 31,234 125,819 74.9Deposits held by the Banks risk group 1,880 188 2,068 1.1 1,117 102 1,219 0.7Other 114,088 32,309 146,397 75.5 93,467 31,133 124,600 74.1

Derivative Finan. Liabilities Held for Trading 17 79 96 0.0 6 80 87 0.1Funds Borrowed 183 6,483 6,667 3.4 175 4,140 4,316 2.6Money Market Takings 8,883 1,710 10,592 5.5 12,774 1,379 14,153 8.4


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


Miscellaneous Payables 1,724 131 1,856 1.0 1,150 143 1,293 0.8Other External Resources 749 526 1,276 0.7 492 298 790 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 1,971 29 2,000 1.0 2,153 28 2,180 1.3General provisions 695 2 698 0.4 688 3 691 0.4Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 792 0 792 0.4 727 0 727 0.4Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 484 26 510 0.3 738 25 763 0.5

Liabilities for Tax 560 3 563 0.3 514 3 517 0.3Current liabilities for tax 560 3 563 0.3 514 3 517 0.3Deferred 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 18,921 239 19,161 9.9 15,644 153 15,797 9.4


Share premium 471 0 471 0.2 487 0 487 0.3Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 899 239 1,139 0.6 637 153 791 0.5Revaluation changes of property and equip. 3 0 3 0.0 1 0 1 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. 57 0 57 0.0 53 0 53 0.0Hedging funds (active part) 0 0 0 0.0 -21 0 -21 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 1,147 0 1,147 0.6 1,186 0 1,186 0.7


Profit or loss 4,579 0 4,579 2.4 4,406 0 4,406 2.6Prior years income/loss 104 0 104 0.1 107 0 107 0.1Current year income/loss 4,475 0 4,475 2.3 4,299 0 4,299 2.6


II-19

State-owned Banks



Guarantees and Warranties 10,286 10,261 20,547 6,644 9,441 16,085Letters of guarantee 9,231 6,163 15,394 6,611 5,284 11,894Bank acceptances 7 244 251 0 409 409Letters of credit 992 3,739 4,731 3 3,655 3,657Prefinancing given as guarantee 0 4 4 0 12 12Endorsements 0 0 0 0 0 0Other guarantees and warrantees 56 111 167 30 81 111


Derivative Financial Instruments 4,226 6,199 10,425 1,707 5,586 7,293Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 4,226 6,199 10,425 1,707 5,586 7,293

Custody and Pledged Securities 383,812 120,786 504,598 291,906 88,815 380,722Items held in Custody 63,699 5,162 68,861 53,881 4,349 58,230Pledged Items 320,113 115,603 435,715 238,025 84,449 322,475Acccepted independent guaran. and warran. 0 22 22 0 17 17

Total Off Balance Sheet Commitments 421,936 140,809 562,745 318,382 107,706 426,089


Dec. 2010 Dec. 2009


Interest Expenses 8,681 10,198Interest on deposits 7,775 9,032Interest on money market transactions 102 150Interest on funds borrowed 724 916Interest on securities issued 0 0Other interest expenses 81 100

Net Interest Income/Expenses 7,334 8,240Net Fees and Commissions Income/Expenses 962 917

Fees and commissions received 1,167 1,121Fees and commissions paid 205 204

Dividend Income 81 42Trading Profit/Loss (net) 272 172

Profit/loss on trading account securities 397 185Profit/losses on derivative financial transactions -21 -55Foreign exchange profit/loss -104 41

Other Operating Income 1,400 620Total Operating Income/Expenses 10,050 9,989Provision for Loan Losses or other Receivables (-) 1,025 1,519

Specific provisions of banks loans and other receivables* 729 1,024General provision expenses* 144 183


Net Operating Profit/Loss 5,490 5,363Surplus 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 5,490 5,363Provisions for Taxes on Income from Continuing Operations (±) -1,015 -1,064Net Profit/Loss from Continuing Operations 4,475 4,299Net 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 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-21

Privately-owned Banks

Assets(USD Million)


Cash and Balances with the Central Bank 8,752 11,775 20,526 6.4 9,946 8,188 18,134 6.5Fin.ass.where fair value cha. is refl.to I/S (Net) 2,404 672 3,077 1.0 2,033 459 2,492 0.9

Financial assets held for trading 2,071 672 2,743 0.8 1,690 459 2,149 0.8Public sector debt securities 1,242 192 1,434 0.4 884 162 1,046 0.4Securities representing a share in capital 5 0 5 0.0 1 0 1 0.0Derivative financial assets held for trading 819 480 1,299 0.4 798 297 1,095 0.4Other marketable securities 5 0 5 0.0 6 0 6 0.0


Banks 2,321 7,987 10,308 3.2 2,342 12,932 15,273 5.5Money Market Securities 617 0 617 0.2 2,132 57 2,189 0.8

Interbank money market placements 0 0 0 0.0 2,112 57 2,169 0.8Istanbul Stock Exc. money market placements 0 0 0 0.0 20 0 20 0.0Receiv. from reverse repurchase agreements 617 0 617 0.2 0 0 0 0.0


Loans 110,540 59,782 170,322 52.7 86,787 45,335 132,123 47.6Loans 109,801 59,761 169,562 52.5 85,948 45,331 131,279 47.2

Loans granted to the Banks risk group 1,100 2,096 3,196 1.0 845 1,178 2,023 0.7Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 108,701 57,666 166,366 51.5 85,103 44,153 129,256 46.5












Goodwill 637 0 637 0.2 659 0 659 0.2Other 286 0 286 0.1 244 0 244 0.1



Prop.&Equ.for Sale p. and from Term.Op.(Net) 178 0 178 0.1 160 0 160 0.1Other Assets 2,201 1,032 3,233 1.0 1,905 655 2,560 0.9

Total Assets 221,793 101,126 322,919 100.0 188,116 89,730 277,846 100.0

II-22

Privately-owned Banks December 2010




Derivative Finan. Liabilities Held for Trading 889 549 1,438 0.4 711 321 1,032 0.4Funds Borrowed 5,624 26,059 31,683 9.8 5,040 21,324 26,364 9.5Money Market Takings 18,977 5,628 24,606 7.6 20,844 4,487 25,330 9.1



Funds 8 0 8 0.0 13 0 13 0.0Borrower funds 0 0 0 0.0 0 0 0 0.0Others 8 0 8 0.0 13 0 13 0.0

Miscellaneous Payables 6,816 734 7,550 2.3 5,598 394 5,992 2.2Other External Resources 2,048 873 2,922 0.9 1,789 596 2,386 0.9Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 49 14 62 0.0 9 22 31 0.0



Provisions 5,148 423 5,570 1.7 4,971 414 5,385 1.9General provisions 1,513 360 1,873 0.6 1,241 366 1,607 0.6Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 517 0 517 0.2 405 0 405 0.1Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 3,117 62 3,180 1.0 3,326 48 3,373 1.2





Profit reserves 13,941 10 13,951 4.3 10,211 9 10,219 3.7Legal reserves 2,070 3 2,073 0.6 1,758 3 1,761 0.6Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 11,880 0 11,880 3.7 8,458 0 8,458 3.0Other profit reserves -9 7 -2 0.0 -6 6 0 0.0

Profit or loss 7,586 0 7,586 2.3 6,690 0 6,690 2.4Prior years income/loss -12 0 -12 0.0 -17 0 -17 0.0Current year income/loss 7,598 0 7,598 2.4 6,707 0 6,707 2.4


II-23

Privately-owned Banks



Guarantees and Warranties 20,029 27,339 47,368 16,256 24,685 40,941Letters of guarantee 19,494 16,034 35,528 15,964 16,327 32,291Bank acceptances 8 593 600 3 463 466Letters of credit 22 9,600 9,621 8 7,104 7,112Prefinancing given as guarantee 0 2 2 0 2 2Endorsements 0 20 20 0 28 28Other guarantees and warrantees 506 1,090 1,596 282 760 1,041

Commitments 92,762 12,065 104,827 54,390 15,732 70,122Irrevocable commitments 58,731 12,045 70,777 54,386 15,732 70,118Revocable commitments 34,031 19 34,051 4 0 5


Custody and Pledged Securities 415,448 154,217 569,665 394,509 135,299 529,808Items held in Custody 134,038 18,309 152,346 170,053 17,326 187,378Pledged Items 278,640 135,261 413,901 222,382 117,495 339,876Acccepted independent guaran. and warran. 2,770 647 3,418 2,075 479 2,553



Dec. 2010 Dec. 2009






Profit/loss on trading account securities 896 872Profit/losses on derivative financial transactions -873 343Foreign exchange profit/loss 282 -39




Net Operating Profit/Loss 9,307 8,361Surplus 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 9,307 8,361Provisions for Taxes on Income from Continuing Operations (±) -1,756 -1,623Net Profit/Loss from Continuing Operations 7,551 6,738Net Profit/Loss Before Taxes from Terminated Operations 50 0Provisions for Taxes on Income from Terminated Operations (±) -3 -31Net Profit/Loss from Terminated Operations 48 -31



II-24

Privately-owned Banks December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-25

II-26

Banks Under the Deposit Insurance Fund

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) 135 0 135 26.2 248 0 248 45.6



Banks 245 59 304 59.1 144 67 211 39.0Money Market Securities 0 0 0 0.0 5 0 5 0.9

Interbank money market placements 0 0 0 0.0 5 0 5 0.9Istanbul 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 2 0 2 0.4 8 0 8 1.5Loans 1 0 1 0.1 1 0 1 0.1

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 1 0 1 0.1

Loans under follow-up 28 5 33 6.5 35 6 41 7.6Specific provisions (-) 27 5 32 6.2 28 6 34 6.2

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



Subsidiaries (Net) 0 0 0 0.0 0 0 0 0.0Financial subsidiaries 0 0 0 0.0 0 0 0 0.0Non-financial subsidiaries 0 0 0 0.0 0 0 0 0.0





Property and Equipment (Net) 35 0 35 6.8 37 0 37 6.8Intangible 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



Prop.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Other Assets 29 3 32 6.3 29 4 33 6.1

Total Assets 452 62 514 100.0 471 72 542 100.0

II-27

Banks Under the Deposit Insurance Fund December 2010



Deposits 7 10 17 3.2 8 11 19 3.5Deposits held by the Banks risk group 0 0 0 0.0 0 0 0 0.0Other 7 10 17 3.2 8 11 19 3.5

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 0.3 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 0.3 2 0 2 0.4



Miscellaneous Payables 5 27 32 6.3 8 28 36 6.6Other External Resources 3 0 3 0.6 3 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 54 27 81 15.8 23 32 55 10.2General provisions 2 0 2 0.3 3 0 3 0.6Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 3 0 3 0.6 2 0 2 0.5Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 50 27 76 14.9 17 32 49 9.1


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 377 0 377 73.4 426 0 426 78.4

Paid-in capital 300 0 300 58.2 310 0 310 57.1Supplementary 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 11,500 0 11,500 2,236.2 11,926 0 11,926 2,198.4Legal reserves 17 0 17 3.4 18 0 18 3.3Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 11,483 0 11,483 2,232.8 11,908 0 11,908 2,195.1Other profit reserves 0 0 0 0.0 0 0 0 0.0

Profit or loss -11,422 0 -11,422 -2,221.0 -11,810 0 -11,810 -2,177.1Prior years income/loss -11,424 0 -11,424 -2,221.3 -11,847 0 -11,847 -2,183.8Current year income/loss 1 0 1 0.3 37 0 37 6.8

Total Liabilities 451 64 514 100.0 471 72 542 100.0

Banks Under the Deposit Insurance Fund



Guarantees and Warranties 43 62 105 50 72 122Letters of guarantee 43 62 105 50 72 122Bank 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 1,596 0 1,596 2,087 0 2,087Irrevocable commitments 1,596 0 1,596 2,087 0 2,087Revocable 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 578 89 667 602 93 695Items held in Custody 9 2 10 8 2 10Pledged Items 569 87 656 594 92 685Acccepted independent guaran. and warran. 0 0 1 0 0 0

Total Off Balance Sheet Commitments 2,217 151 2,368 2,739 165 2,905


Dec. 2010 Dec. 2009

Interest Income 25 26Interest on loans 7 1Interest received from reserve deposits 0 0Interest received from banks 17 23Interest received from money market transactions 0 0Interest received from marketable securities portfolio 0 0Other interest income 1 0

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 25Net Fees and Commissions Income/Expenses 2 2

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


Profit/loss on trading account securities 19 45Profit/losses on derivative financial transactions 0 0Foreign exchange profit/loss 0 0

Other Operating Income 28 9Total Operating Income/Expenses 75 82Provision for Loan Losses or other Receivables (-) 54 12

Specific provisions of banks loans and other receivables* 6 3General provision expenses* 0 2

Other Operating Expenses (-) 20 22Personnel Expenses* 11 11

Net Operating Profit/Loss 1 48Surplus 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 48Provisions for Taxes on Income from Continuing Operations (±) 0 -11Net Profit/Loss from Continuing Operations 1 37Net 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 1 37


II-28

Banks Under the Deposit Insurance Fund December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios





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









Assets Quality




Loans Under Follow-up (gross) / Total Loans and Receivables 1,786.0 519.5





Liquidity




Profitability












II-29

Foreign Banks

Assets(USD Million)


Cash and Balances with the Central Bank 1,894 3,390 5,284 6.0 2,214 2,306 4,520 6.3Fin.ass.where fair value cha. is refl.to I/S (Net) 3,181 893 4,074 4.6 3,111 454 3,565 4.9

Financial assets held for trading 2,475 893 3,368 3.8 2,002 452 2,453 3.4Public sector debt securities 2,066 377 2,443 2.8 1,634 290 1,924 2.7Securities representing a share in capital 1 0 1 0.0 21 0 21 0.0Derivative financial assets held for trading 318 343 661 0.7 344 157 501 0.7Other marketable securities 91 173 264 0.3 2 5 7 0.0

Fin.assets clas. as fair value change is refl.to I/S 706 0 706 0.8 1,110 2 1,112 1.5Public sector debt securities 71 0 71 0.1 53 2 54 0.1Securities representing a share in capital 0 0 0 0.0 0 0 0 0.0Loans 635 0 635 0.7 1,057 0 1,057 1.5Other marketable securities 0 0 0 0.0 0 0 0 0.0

Banks 1,842 962 2,804 3.2 592 2,451 3,043 4.2Money Market Securities 5,454 0 5,454 6.2 1,958 624 2,582 3.6


Financial Assets Available for Sale (Net) 11,069 1,210 12,279 13.9 9,389 1,005 10,395 14.4Securities representing a share in capital 12 1 13 0.0 21 1 22 0.0Public sector debt securities 10,959 1,021 11,980 13.6 9,315 829 10,144 14.0Other marketable securities 98 188 286 0.3 54 175 228 0.3

Loans 43,519 9,437 52,956 60.1 35,902 7,308 43,210 59.8Loans 42,819 9,437 52,256 59.3 35,123 7,250 42,374 58.6



Factoring Receivables 174 99 272 0.3 110 23 133 0.2Investments held to Maturity (Net) 1,236 242 1,477 1.7 1,308 249 1,557 2.2

Public sector debt securities 1,207 158 1,365 1.5 1,307 175 1,483 2.1Other marketable securities 29 84 113 0.1 0 74 74 0.1









Goodwill 54 0 54 0.1 56 0 56 0.1Other 170 0 170 0.2 187 0 187 0.3



Prop.&Equ.for Sale p. and from Term.Op.(Net) 34 0 34 0.0 15 0 15 0.0Other Assets 903 485 1,388 1.6 821 206 1,028 1.4

Total Assets 71,340 16,831 88,171 100.0 57,459 14,811 72,270 100.0

II-30

Foreign Banks December 2010



Deposits 34,259 16,696 50,956 57.8 26,857 17,095 43,952 60.8Deposits held by the Banks risk group 1,537 903 2,441 2.8 831 1,351 2,182 3.0Other 32,722 15,793 48,515 55.0 26,026 15,744 41,769 57.8

Derivative Finan. Liabilities Held for Trading 487 270 758 0.9 320 179 499 0.7Funds Borrowed 3,820 12,320 16,140 18.3 2,717 8,073 10,790 14.9Money Market Takings 1,300 230 1,530 1.7 753 2 755 1.0

Interbank money market takings 0 0 0 0.0 0 2 2 0.0Istanbul Stock Exc. money market takings 8 0 8 0.0 1 0 1 0.0Funds provided under repurchase agreements 1,291 230 1,522 1.7 752 0 752 1.0



Miscellaneous Payables 1,481 946 2,427 2.8 1,126 381 1,507 2.1Other External Resources 963 274 1,236 1.4 784 83 868 1.2Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 15 3 18 0.0 20 13 34 0.0



Provisions 1,109 46 1,156 1.3 970 65 1,036 1.4General provisions 515 24 540 0.6 383 45 428 0.6Restructuring reserves 8 0 8 0.0 0 0 0 0.0Reserves for employee benefit 173 0 173 0.2 133 1 134 0.2Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 414 22 436 0.5 454 19 474 0.7



Paid-in capital 5,309 0 5,309 6.0 4,911 0 4,911 6.8Supplementary capital 993 27 1,020 1.2 914 57 971 1.3

Share premium 65 0 65 0.1 66 0 66 0.1Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 321 31 352 0.4 229 61 290 0.4Revaluation changes of property and equip. 16 0 16 0.0 19 0 19 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. 2 0 2 0.0 0 0 0 0.0Hedging funds (active part) -131 -4 -136 -0.2 -145 -4 -149 -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 720 0 720 0.8 744 0 744 1.0

Profit reserves 4,239 0 4,239 4.8 3,288 0 3,288 4.5Legal reserves 379 0 379 0.4 327 0 327 0.5Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 3,855 0 3,855 4.4 2,958 0 2,958 4.1Other profit reserves 5 0 5 0.0 3 0 3 0.0



II-31

Foreign Banks



Guarantees and Warranties 6,597 11,949 18,545 5,134 10,271 15,406Letters of guarantee 6,555 6,017 12,572 5,120 5,585 10,704Bank acceptances 2 1,452 1,454 0 1,094 1,094Letters of credit 3 3,226 3,229 0 2,582 2,582Prefinancing given as guarantee 0 33 33 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 37 1,220 1,257 14 1,011 1,025

Commitments 52,507 42,389 94,896 21,423 8,701 30,125Irrevocable commitments 24,117 7,118 31,235 20,912 8,046 28,958Revocable commitments 28,390 35,271 63,661 512 655 1,167


Custody and Pledged Securities 229,894 42,381 272,275 145,716 34,993 180,709Items held in Custody 77,885 3,010 80,895 42,301 3,257 45,558Pledged Items 117,383 32,977 150,360 75,814 25,274 101,088Acccepted independent guaran. and warran. 34,625 6,394 41,019 27,602 6,461 34,063



Dec. 2010 Dec. 2009





Dividend Income 51 50Trading Profit/Loss (net) -510 -320

Profit/loss on trading account securities 422 667Profit/losses on derivative financial transactions -1,089 -1,445Foreign exchange profit/loss 156 457

Other Operating Income 557 436Total Operating Income/Expenses 6,061 6,617Provision for Loan Losses or other Receivables (-) 824 1,649

Specific provisions of banks loans and other receivables* 591 1,425General provision expenses* 130 51


Net Operating Profit/Loss 1,591 1,614Surplus 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 1,591 1,614Provisions for Taxes on Income from Continuing Operations (±) -334 -350Net Profit/Loss from Continuing Operations 1,258 1,264Net Profit/Loss Before Taxes from Terminated Operations 15 132Provisions for Taxes on Income from Terminated Operations (±) -3 -7Net Profit/Loss from Terminated Operations 12 126



II-32

Foreign Banks December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios





Net On and Off Balance Sheet Position / Total Shareholders' Equity 0.3 -0.9









Assets Quality









Liquidity




Profitability












II-33

Development and Investment Banks

Assets(USD Million)





Banks 2,869 439 3,307 16.4 1,473 601 2,074 11.4Money Market Securities 558 0 558 2.8 1,704 0 1,704 9.4


Financial Assets Available for Sale (Net) 1,480 349 1,828 9.1 1,250 349 1,598 8.8Securities representing a share in capital 42 8 50 0.3 32 8 41 0.2Public sector debt securities 1,387 233 1,620 8.1 1,200 235 1,436 7.9Other marketable securities 51 107 158 0.8 17 105 122 0.7

Loans 7,302 5,020 12,322 61.3 7,004 4,072 11,076 61.0Loans 7,259 5,020 12,279 61.0 6,949 4,072 11,021 60.7













Goodwill 0 0 0 0.0 0 0 0 0.0Other 12 0 12 0.1 10 0 10 0.1




Total Assets 13,843 6,272 20,115 100.0 12,765 5,403 18,168 100.0

II-34

Development and Investment Banks December 2010




Derivative Finan. Liabilities Held for Trading 18 20 38 0.2 14 7 22 0.1Funds Borrowed 292 5,920 6,212 30.9 86 5,481 5,567 30.6Money Market Takings 708 93 801 4.0 935 31 966 5.3



Funds 1,296 457 1,753 8.7 961 161 1,122 6.2Borrower funds 79 457 536 2.7 51 161 211 1.2Others 1,217 0 1,217 6.1 910 0 910 5.0








Share premium 14 0 14 0.1 15 0 15 0.1Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 59 21 80 0.4 38 10 47 0.3Revaluation changes of property and equip. 25 0 25 0.1 22 0 22 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 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 1,177 0 1,177 5.9 1,276 0 1,276 7.0

Profit reserves 1,107 0 1,107 5.5 989 0 989 5.4Legal reserves 443 0 443 2.2 388 0 388 2.1Status reserves 24 0 24 0.1 19 0 19 0.1Extraordinary reserves 621 0 621 3.1 563 0 563 3.1Other profit reserves 19 0 19 0.1 19 0 19 0.1

Profit or loss 531 0 531 2.6 583 0 583 3.2Prior years income/loss -16 0 -16 -0.1 -81 0 -81 -0.4Current year income/loss 548 0 548 2.7 664 0 664 3.7


II-35

Development and Investment Banks



Guarantees and Warranties 3,206 2,627 5,833 2,620 1,732 4,353Letters of guarantee 1,418 1,292 2,710 1,447 660 2,107Bank acceptances 0 4 4 0 15 15Letters of credit 0 520 520 0 282 282Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 448 448 0 324 324Other guarantees and warrantees 1,788 363 2,151 1,173 452 1,625

Commitments 2,624 3,994 6,618 615 994 1,609Irrevocable commitments 531 400 931 472 357 829Revocable commitments 2,092 3,595 5,687 143 637 780

Derivative Financial Instruments 1,010 3,449 4,458 790 2,987 3,777Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 1,010 3,449 4,458 790 2,987 3,777

Custody and Pledged Securities 5,757,498 33,481 5,790,978 4,427,534 13,559 4,441,093Items held in Custody 5,749,590 212 5,749,803 4,421,572 253 4,421,825Pledged Items 6,713 22,153 28,866 5,367 13,075 18,442Acccepted independent guaran. and warran. 1,194 11,116 12,310 595 232 826



Dec. 2010 Dec. 2009

Interest Income 1,033 1,277Interest on loans 632 867Interest received from reserve deposits 1 2Interest received from banks 94 80Interest received from money market transactions 71 76Interest received from marketable securities portfolio 228 244Other interest income 6 8






Other Operating Income 131 110Total Operating Income/Expenses 1,099 1,244Provision for Loan Losses or other Receivables (-) 57 101



Net Operating Profit/Loss 662 796Surplus 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 662 796Provisions for Taxes on Income from Continuing Operations (±) -113 -132Net Profit/Loss from Continuing Operations 549 664Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) -1 0Net Profit/Loss from Terminated Operations -1 0



II-36

Development and Investment Banks December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios




Net On Balance Sheet Position / Total Shareholders' Equity 4.1 4.4






TC Deposits / Total Deposits - -




Assets Quality



Total Loans and Receivables / Total Deposits - -






Liquidity




Profitability












II-37

II-39

II-41

• State-owned Banks• Privately-owned Banks• Banks Under the Deposit Insurance Fund• Foreign Banks

II-43

II-44

Türkiye Cumhuriyeti Ziraat Bankası A. .

Assets(USD Million)





Banks 29 2,990 3,019 3.1 5 3,646 3,651 4.4Money Market Securities 0 0 0 0.0 0 0 0 0.0


Financial Assets Available for Sale (Net) 23,376 2,459 25,835 26.3 14,042 3,204 17,246 20.6Securities representing a share in capital 77 30 107 0.1 16 0 16 0.0Public sector debt securities 23,165 2,403 25,568 26.0 14,003 2,156 16,159 19.3Other marketable securities 134 26 160 0.2 23 1,047 1,070 1.3

Loans 33,808 3,551 37,359 38.0 23,309 1,383 24,692 29.5Loans 33,624 3,551 37,176 37.8 23,193 1,383 24,576 29.4













Goodwill 0 0 0 0.0 0 0 0 0.0Other 22 1 23 0.0 11 1 12 0.0




Total Assets 84,546 13,763 98,309 100.0 70,729 12,999 83,728 100.0

II-45

Türkiye Cumhuriyeti Ziraat Bankası A. . December 2010



Deposits 67,229 14,585 81,814 83.2 53,470 12,777 66,247 79.1Deposits held by the Banks risk group 908 86 993 1.0 52 16 68 0.1Other 66,321 14,499 80,820 82.2 53,418 12,761 66,179 79.0

Derivative Finan. Liabilities Held for Trading 4 0 4 0.0 0 0 0 0.0Funds Borrowed 19 46 64 0.1 10 4 14 0.0Money Market Takings 3,254 0 3,254 3.3 6,148 0 6,148 7.3

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 3,254 0 3,254 3.3 6,148 0 6,148 7.3






Provisions 795 3 799 0.8 1,142 3 1,145 1.4General provisions 166 0 166 0.2 288 0 288 0.3Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 391 0 391 0.4 365 0 365 0.4Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 239 3 242 0.2 489 3 492 0.6



Paid-in capital 1,626 0 1,626 1.7 1,681 0 1,681 2.0Supplementary capital 847 121 969 1.0 685 19 704 0.8


Profit reserves 3,640 0 3,640 3.7 2,109 0 2,109 2.5Legal reserves 1,309 0 1,309 1.3 1,182 0 1,182 1.4Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 1,951 0 1,951 2.0 722 0 722 0.9Other profit reserves 379 0 379 0.4 204 0 204 0.2



II-46

Türkiye Cumhuriyeti Ziraat Bankası A. .



Guarantees and Warranties 1,692 3,201 4,892 1,253 2,454 3,707Letters of guarantee 1,690 2,536 4,226 1,253 1,981 3,234Bank acceptances 1 24 25 0 23 23Letters of credit 0 641 641 0 451 451Prefinancing 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 11,229 2,785 14,014 9,510 3,147 12,657Irrevocable commitments 3,697 320 4,017 3,190 332 3,522Revocable commitments 7,532 2,466 9,998 6,319 2,815 9,135

Derivative Financial Instruments 1,335 1,397 2,732 24 114 138Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 1,335 1,397 2,732 24 114 138

Custody and Pledged Securities 93,820 4,765 98,585 64,181 1,380 65,561Items held in Custody 7,855 420 8,275 5,452 435 5,887Pledged Items 85,965 4,323 90,288 58,729 928 59,657Acccepted independent guaran. and warran. 0 22 22 0 17 17



Dec. 2010 Dec. 2009





Dividend Income 22 18Trading Profit/Loss (net) -9 41

Profit/loss on trading account securities 15 11Profit/losses on derivative financial transactions 73 1Foreign exchange profit/loss -96 30



Other Operating Expenses (-) 1,463 1,274Personnel Expenses* 803 703

Net Operating Profit/Loss 2,907 2,970Surplus 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 2,907 2,970Provisions for Taxes on Income from Continuing Operations (±) -492 -609Net Profit/Loss from Continuing Operations 2,415 2,361Net 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-47

Türkiye Cumhuriyeti Ziraat Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-48

Türkiye Halk Bankası A. .

Assets(USD Million)


Cash and Balances with the Central Bank 1,810 1,214 3,024 6.4 1,423 873 2,297 5.6Fin.ass.where fair value cha. is refl.to I/S (Net) 30 28 58 0.1 18 19 38 0.1





Financial Assets Available for Sale (Net) 3,793 1,018 4,811 10.1 2,307 893 3,200 7.8Securities representing a share in capital 3 6 8 0.0 3 5 8 0.0Public sector debt securities 3,791 1,012 4,803 10.1 2,304 888 3,193 7.8Other marketable securities 0 0 0 0.0 0 0 0 0.0

Loans 20,959 7,850 28,809 60.7 15,852 5,972 21,823 53.5Loans 20,769 7,850 28,618 60.3 15,644 5,972 21,615 53.0


Loans under follow-up 1,143 0 1,143 2.4 1,121 0 1,121 2.8Specific provisions (-) 952 0 952 2.0 913 0 913 2.2











Goodwill 0 0 0 0.0 0 0 0 0.0Other 11 0 11 0.0 7 0 7 0.0




Total Assets 35,423 12,016 47,439 100.0 30,370 10,409 40,779 100.0

II-49

Türkiye Halk Bankası A. . December 2010




Derivative Finan. Liabilities Held for Trading 0 25 25 0.1 0 60 60 0.1Funds Borrowed 131 2,356 2,487 5.2 136 1,230 1,366 3.3Money Market Takings 1,653 399 2,052 4.3 3,506 368 3,874 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 4,881 -39 4,842 10.2 3,842 31 3,872 9.5

Paid-in capital 813 0 813 1.7 840 0 840 2.1Supplementary capital 911 -39 872 1.8 850 31 881 2.2

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 114 -39 75 0.2 50 31 81 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. 3 0 3 0.0 0 0 0 0.0Hedging funds (active part) 0 0 0 0.0 -21 0 -21 -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 794 0 794 1.7 821 0 821 2.0

Profit reserves 1,850 0 1,850 3.9 1,055 0 1,055 2.6Legal reserves 397 0 397 0.8 341 0 341 0.8Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 1,422 0 1,422 3.0 682 0 682 1.7Other profit reserves 31 0 31 0.1 32 0 32 0.1



II-50

Türkiye Halk Bankası A. .





Derivative Financial Instruments 744 2,418 3,161 885 4,277 5,162Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 744 2,418 3,161 885 4,277 5,162




Dec. 2010 Dec. 2009






Profit/loss on trading account securities 144 91Profit/losses on derivative financial transactions -47 -51Foreign exchange profit/loss -22 -29







II-51

Türkiye Halk Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-52

Türkiye Vakıflar Bankası T.A.O.

Assets(USD Million)


Cash and Balances with the Central Bank 1,697 1,325 3,022 6.3 1,114 937 2,050 4.7Fin.ass.where fair value cha. is refl.to I/S (Net) 1 15 16 0.0 0 26 26 0.1



Banks 48 780 827 1.7 165 1,676 1,841 4.2Money Market Securities 1,367 0 1,367 2.8 2,286 0 2,286 5.2


Financial Assets Available for Sale (Net) 7,322 1,630 8,952 18.6 8,575 1,488 10,062 23.1Securities representing a share in capital 0 7 7 0.0 0 7 7 0.0Public sector debt securities 7,322 1,575 8,897 18.5 8,575 1,463 10,037 23.0Other marketable securities 0 48 48 0.1 0 18 18 0.0

Loans 20,531 8,645 29,176 60.7 15,977 7,269 23,245 53.4Loans 20,515 8,645 29,160 60.6 15,886 7,269 23,155 53.1













Goodwill 0 0 0 0.0 0 0 0 0.0Other 34 0 34 0.1 29 0 29 0.1




Total Assets 34,628 13,474 48,102 100.0 31,022 12,545 43,567 100.0

II-53

Türkiye Vakıflar Bankası T.A.O. December 2010



Deposits 22,936 8,088 31,023 64.5 21,328 8,694 30,022 68.9Deposits held by the Banks risk group 793 97 890 1.8 998 75 1,074 2.5Other 22,143 7,991 30,133 62.6 20,330 8,619 28,948 66.4

Derivative Finan. Liabilities Held for Trading 14 53 67 0.1 6 20 27 0.1Funds Borrowed 33 4,082 4,115 8.6 29 2,906 2,936 6.7Money Market Takings 3,976 1,310 5,286 11.0 3,120 1,010 4,131 9.5













Profit or loss 753 0 753 1.6 841 0 841 1.9Prior years income/loss 0 0 0 0.0 0 0 0 0.0Current year income/loss 753 0 753 1.6 841 0 841 1.9


II-54

Türkiye Vakıflar Bankası T.A.O.





Derivative Financial Instruments 2,147 2,384 4,532 798 1,194 1,992Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 2,147 2,384 4,532 798 1,194 1,992

Custody and Pledged Securities 57,656 17,187 74,843 48,398 14,834 63,232Items held in Custody 13,326 450 13,776 10,409 275 10,684Pledged Items 44,331 16,737 61,067 37,989 14,559 52,548Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2010 Dec. 2009






Profit/loss on trading account securities 238 83Profit/losses on derivative financial transactions -46 -4Foreign exchange profit/loss 14 41




Net Operating Profit/Loss 951 1,037Surplus 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 951 1,037Provisions for Taxes on Income from Continuing Operations (±) -199 -196Net Profit/Loss from Continuing Operations 753 841Net 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-55

Türkiye Vakıflar Bankası T.A.O. December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












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 33 0 33 100.0 34 0 34 100.0

II-59

Adabank A. . December 2010
















Profit reserves 0 0 0 0.0 0 0 0 0.0Legal reserves 0 0 0 0.0 0 0 0 0.0Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 0 0 0 0.0 0 0 0 0.0Other profit reserves 0 0 0 0.0 0 0 0 0.0

Profit or loss -24 0 -24 -71.3 -25 0 -25 -73.1Prior years income/loss -24 0 -24 -72.3 -25 0 -25 -74.7Current year income/loss 0 0 0 1.0 1 0 1 1.6


II-60

Adabank A. .




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



Total Off Balance Sheet Commitments 3 5 9 5 8 12


Dec. 2010 Dec. 2009










Net Operating Profit/Loss 0 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 0 1Provisions for Taxes on Income from Continuing Operations (±) 0 0Net Profit/Loss from Continuing Operations 0 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



II-61

Adabank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

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-62

Akbank T.A. .

Assets(USD Million)







Financial Assets Available for Sale (Net) 24,899 2,561 27,459 37.3 18,672 940 19,612 30.6Securities representing a share in capital 3 17 20 0.0 3 0 3 0.0Public sector debt securities 24,860 2,506 27,366 37.2 18,669 906 19,575 30.5Other marketable securities 35 38 74 0.1 0 34 34 0.1

Loans 20,814 13,587 34,401 46.7 16,156 10,548 26,705 41.7Loans 20,814 13,587 34,401 46.7 16,156 10,548 26,705 41.7


Loans under follow-up 832 0 832 1.1 1,161 39 1,200 1.9Specific provisions (-) 832 0 832 1.1 1,161 39 1,200 1.9

Factoring Receivables 0 0 0 0.0 0 0 0 0.0Investments held to Maturity (Net) 3,485 824 4,309 5.9 6,638 4,011 10,650 16.6

Public sector debt securities 3,485 824 4,309 5.9 6,638 4,011 10,650 16.6Other marketable securities 0 0 0 0.0 0 0 0 0.0









Goodwill 0 0 0 0.0 0 0 0 0.0Other 60 0 60 0.1 44 0 44 0.1




Total Assets 52,363 21,247 73,610 100.0 44,488 19,594 64,082 100.0

II-63

Akbank T.A. . December 2010



Deposits 27,340 16,343 43,683 59.3 23,233 14,319 37,552 58.6Deposits held by the Banks risk group 811 870 1,681 2.3 900 825 1,725 2.7Other 26,529 15,473 42,002 57.1 22,333 13,494 35,827 55.9

Derivative Finan. Liabilities Held for Trading 118 136 254 0.3 125 79 204 0.3Funds Borrowed 170 6,578 6,748 9.2 92 5,389 5,481 8.6Money Market Takings 6,891 400 7,291 9.9 8,445 586 9,031 14.1




Miscellaneous Payables 981 44 1,025 1.4 805 7 812 1.3Other External Resources 432 89 521 0.7 411 71 482 0.8Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 45 0 45 0.1 6 2 9 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 11,403 21 11,424 15.5 9,567 -26 9,541 14.9

Paid-in capital 2,601 0 2,601 3.5 2,017 0 2,017 3.1Supplementary capital 2,973 21 2,994 4.1 2,755 -26 2,730 4.3

Share premium 1,106 0 1,106 1.5 1,143 0 1,143 1.8Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 1,122 40 1,162 1.6 539 -6 533 0.8Revaluation changes of property and equip. 2 0 2 0.0 12 0 12 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) -170 -19 -190 -0.3 -220 -20 -239 -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 914 0 914 1.2 1,281 0 1,281 2.0




II-64

Akbank T.A. .




Commitments 14,634 2,873 17,507 11,390 2,934 14,325Irrevocable commitments 14,634 2,873 17,507 11,390 2,934 14,325Revocable commitments 0 0 0 0 0 0

Derivative Financial Instruments 8,475 18,541 27,016 5,310 11,357 16,667Derivative finan. instruments held for hedging 3,310 0 3,310 3,422 0 3,422Trading transactions 5,165 18,541 23,705 1,888 11,357 13,245

Custody and Pledged Securities 39,754 12,838 52,591 34,987 9,079 44,067Items held in Custody 14,670 1,815 16,485 10,572 1,243 11,816Pledged Items 22,914 10,939 33,852 22,931 7,793 30,724Acccepted independent guaran. and warran. 2,170 84 2,254 1,484 43 1,527



Dec. 2010 Dec. 2009




Fees and commissions received 995 1,003Fees and commissions paid 143 142









II-65

Akbank T.A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-66

Alternatif Bank A. .

Assets(USD Million)








Loans 1,727 384 2,111 76.2 1,533 300 1,833 75.1Loans 1,668 384 2,052 74.1 1,484 300 1,784 73.1

Loans granted to the Banks risk group 12 0 12 0.4 4 0 4 0.2Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 1,656 384 2,040 73.6 1,480 300 1,780 73.0












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




Total Assets 2,236 533 2,770 100.0 2,021 419 2,440 100.0

II-67

Alternatif Bank A. . December 2010



Deposits 1,007 581 1,588 57.3 1,012 702 1,713 70.2Deposits held by the Banks risk group 240 74 314 11.3 248 102 350 14.3Other 767 507 1,274 46.0 764 600 1,364 55.9















Total Liabilities 1,640 1,130 2,770 100.0 1,479 960 2,440 100.0

II-68

Alternatif Bank A. .



Guarantees and Warranties 634 616 1,251 534 524 1,058Letters of guarantee 631 248 879 528 277 805Bank acceptances 3 125 128 0 79 79Letters of credit 0 229 229 6 159 165Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 14 14 0 9 9


Derivative Financial Instruments 499 610 1,108 246 400 645Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 499 610 1,108 246 400 645

Custody and Pledged Securities 2,807 522 3,329 2,639 492 3,131Items held in Custody 94 98 193 80 20 100Pledged Items 2,712 424 3,135 2,558 472 3,030Acccepted independent guaran. and warran. 1 0 1 1 0 1



Dec. 2010 Dec. 2009






Profit/loss on trading account securities -1 4Profit/losses on derivative financial transactions -28 -24Foreign exchange profit/loss 10 7




Net Operating Profit/Loss 23 52Surplus 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 23 52Provisions for Taxes on Income from Continuing Operations (±) -4 -10Net Profit/Loss from Continuing Operations 18 41Net 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-69

Alternatif Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios





Net On and Off Balance Sheet Position / Total Shareholders' Equity -4.9 4.8









Assets Quality









Liquidity




Profitability












II-70

Anadolubank A. .

Assets(USD Million)








Loans 1,852 117 1,969 67.4 1,512 122 1,634 63.5Loans 1,843 117 1,960 67.1 1,502 122 1,624 63.1













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




Total Assets 2,213 707 2,919 100.0 1,985 590 2,574 100.0

II-71

Anadolubank A. . December 2010



Deposits 1,078 637 1,715 58.7 939 718 1,657 64.4Deposits held by the Banks risk group 14 12 26 0.9 12 6 19 0.7Other 1,064 624 1,689 57.8 926 712 1,638 63.6










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 493 -2 491 16.8 426 -2 424 16.5

Paid-in capital 390 0 390 13.4 275 0 275 10.7Supplementary capital 0 -2 -2 -0.1 0 -2 -2 -0.1

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 -2 -2 -0.1 -1 -2 -3 -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) 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 1 0 1 0.0




II-72

Anadolubank A. .




Commitments 11,800 6 11,806 270 1 271Irrevocable commitments 273 6 278 266 1 267Revocable commitments 11,527 0 11,527 4 0 4


Custody and Pledged Securities 4,186 516 4,702 3,104 518 3,622Items held in Custody 2,586 124 2,710 2,030 109 2,140Pledged Items 1,600 392 1,992 1,074 408 1,482Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2010 Dec. 2009






Profit/loss on trading account securities 20 7Profit/losses on derivative financial transactions -39 -6Foreign exchange profit/loss 9 -2







II-73

Anadolubank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-74

ekerbank T.A. .

Assets(USD Million)








Loans 3,744 813 4,557 61.6 2,877 422 3,299 54.8Loans 3,666 813 4,479 60.6 2,807 422 3,229 53.6













Goodwill 0 0 0 0.0 0 0 0 0.0Other 12 0 12 0.2 14 0 14 0.2




Total Assets 6,192 1,202 7,394 100.0 5,276 745 6,021 100.0

II-75

ekerbank T.A. . December 2010















Share premium 0 0 0 0.0 4 0 4 0.1Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities -9 0 -9 -0.1 -1 0 -1 0.0Revaluation changes of property and equip. 52 0 52 0.7 56 0 56 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 0 0 0 0.0 40 0 40 0.7




II-76

ekerbank T.A. .



Guarantees and Warranties 1,781 751 2,532 1,394 605 1,999Letters of guarantee 1,773 466 2,239 1,393 430 1,823Bank acceptances 1 31 31 0 32 32Letters of credit 0 215 215 0 121 121Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 7 38 46 1 23 24



Custody and Pledged Securities 43,329 9,159 52,488 35,258 7,397 42,655Items held in Custody 927 299 1,226 642 162 804Pledged Items 42,394 8,688 51,082 34,611 7,210 41,821Acccepted independent guaran. and warran. 8 172 180 5 25 30



Dec. 2010 Dec. 2009





Dividend Income 8 1Trading Profit/Loss (net) 31 -54





Net Operating Profit/Loss 139 134Surplus 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 139 134Provisions for Taxes on Income from Continuing Operations (±) -29 0Net Profit/Loss from Continuing Operations 111 134Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) 0 -31Net Profit/Loss from Terminated Operations 0 -31



II-77

ekerbank T.A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-78

Tekstil Bankası A. .

Assets(USD Million)








Loans 968 249 1,217 72.7 914 145 1,060 73.9Loans 945 249 1,194 71.3 886 145 1,032 71.9

Loans granted to the Banks risk group 12 0 12 0.7 45 0 45 3.2Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 934 249 1,182 70.7 841 145 986 68.8












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




Total Assets 1,302 372 1,674 100.0 1,174 260 1,434 100.0

II-79

Tekstil Bankası A. . December 2010



Deposits 697 468 1,165 69.6 488 487 975 68.0Deposits held by the Banks risk group 30 24 54 3.2 17 8 25 1.8Other 667 444 1,111 66.4 471 478 950 66.2












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 5 1 5 0.3 2 0 3 0.2Revaluation changes of property and equip. 9 0 9 0.6 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 1,166 507 1,674 100.0 848 586 1,434 100.0

II-80

Tekstil Bankası A. .





Derivative Financial Instruments 328 561 889 331 880 1,212Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 328 561 889 331 880 1,212

Custody and Pledged Securities 1,062 510 1,572 979 487 1,466Items held in Custody 59 12 72 71 17 87Pledged Items 1,002 498 1,500 908 471 1,379Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2010 Dec. 2009













II-81

Tekstil Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios




Net On Balance Sheet Position / Total Shareholders' Equity 11.7 -48.9










Assets Quality









Liquidity




Profitability












II-82

Turkish Bank A. .

Assets(USD Million)








Loans 194 75 270 40.3 91 66 157 22.7Loans 188 75 263 39.3 88 65 153 22.1













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




Total Assets 511 159 670 100.0 379 311 690 100.0

II-83

Turkish Bank A. . December 2010



















II-84

Turkish Bank A. .







Total Off Balance Sheet Commitments 366 685 1,051 333 644 976


Dec. 2010 Dec. 2009






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







II-85

Turkish Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios




Net On Balance Sheet Position / Total Shareholders' Equity -47.5 5.3










Assets Quality









Liquidity




Profitability












II-86

Türk Ekonomi Bankası A. .

Assets(USD Million)


Cash and Balances with the Central Bank 512 807 1,318 10.7 232 785 1,016 10.0Fin.ass.where fair value cha. is refl.to I/S (Net) 112 15 127 1.0 111 15 127 1.3






Loans 5,995 1,649 7,644 61.8 4,709 1,336 6,045 59.7Loans 5,915 1,649 7,564 61.1 4,582 1,336 5,918 58.4













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




Total Assets 9,363 3,014 12,377 100.0 7,597 2,531 10,128 100.0

II-87

Türk Ekonomi Bankası A. . December 2010




Derivative Finan. Liabilities Held for Trading 42 20 62 0.5 20 15 35 0.3Funds Borrowed 1,308 1,036 2,344 18.9 530 579 1,109 11.0Money Market Takings 48 0 48 0.4 721 0 721 7.1















II-88

Türk Ekonomi Bankası A. .



Guarantees and Warranties 1,291 1,355 2,646 1,031 1,275 2,305Letters of guarantee 1,141 824 1,965 951 849 1,801Bank acceptances 0 36 36 0 26 26Letters of credit 0 440 440 0 338 338Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 149 55 205 79 61 140






Dec. 2010 Dec. 2009

Interest Income 973 1,099Interest on loans 783 853Interest received from reserve deposits 9 18Interest received from banks 5 9Interest received from money market transactions 1 18Interest received from marketable securities portfolio 174 195Other interest income 1 7







Specific provisions of banks loans and other receivables* 78 116General provision expenses* 20 -1


Net Operating Profit/Loss 188 173Surplus 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 188 173Provisions for Taxes on Income from Continuing Operations (±) -41 -31Net Profit/Loss from Continuing Operations 148 141Net Profit/Loss Before Taxes from Terminated Operations 50 0Provisions for Taxes on Income from Terminated Operations (±) -3 0Net Profit/Loss from Terminated Operations 48 0



II-89

Türk Ekonomi Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-90

Türkiye Garanti Bankası A. .

Assets(USD Million)





Banks 1,626 3,786 5,412 6.7 1,693 3,911 5,604 7.9Money Market Securities 0 0 0 0.0 672 0 672 0.9


Financial Assets Available for Sale (Net) 19,414 1,616 21,030 26.1 16,956 1,934 18,890 26.6Securities representing a share in capital 39 45 84 0.1 37 52 89 0.1Public sector debt securities 18,694 627 19,321 24.0 16,777 706 17,483 24.7Other marketable securities 681 944 1,626 2.0 142 1,176 1,318 1.9

Loans 24,257 17,905 42,161 52.3 19,218 14,220 33,438 47.2Loans 24,028 17,905 41,933 52.0 18,932 14,220 33,153 46.8







Subsidiaries (Net) 190 886 1,076 1.3 191 483 675 1.0Financial subsidiaries 179 886 1,065 1.3 182 483 665 0.9Non-financial subsidiaries 11 0 11 0.0 10 0 10 0.0






Goodwill 0 0 0 0.0 0 0 0 0.0Other 20 0 20 0.0 14 0 14 0.0




Total Assets 52,577 28,045 80,621 100.0 47,284 23,624 70,908 100.0

II-91

Türkiye Garanti Bankası A. . December 2010




Derivative Finan. Liabilities Held for Trading 158 142 300 0.4 75 79 154 0.2Funds Borrowed 3,326 7,492 10,818 13.4 2,145 6,600 8,746 12.3Money Market Takings 6,745 575 7,319 9.1 6,977 106 7,083 10.0




Miscellaneous Payables 1,896 18 1,914 2.4 1,573 14 1,587 2.2Other External Resources 498 165 663 0.8 475 151 626 0.9Factoring Payables 0 0 0 0.0 0 0 0 0.0Leasing Transactions Payables (Net) 0 0 0 0.0 1 2 3 0.0







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 1,012 272 1,284 1.6 883 200 1,083 1.5Revaluation changes of property and equip. 389 0 389 0.5 402 0 402 0.6Revaluation 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) -41 -1 -42 -0.1 -43 -1 -44 -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 502 0 502 0.6 519 0 519 0.7




II-92

Türkiye Garanti Bankası A. .









Dec. 2010 Dec. 2009













II-93

Türkiye Garanti Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-94

Türkiye Bankası A. .

Assets(USD Million)







Financial Assets Available for Sale (Net) 14,002 6,394 20,396 23.8 10,366 7,103 17,468 22.9Securities representing a share in capital 8 0 8 0.0 8 0 8 0.0Public sector debt securities 13,994 4,098 18,091 21.1 10,357 5,574 15,931 20.9Other marketable securities 0 2,296 2,296 2.7 0 1,529 1,529 2.0

Loans 28,503 13,271 41,774 48.7 23,153 9,345 32,498 42.7Loans 28,503 13,271 41,774 48.7 23,153 9,345 32,498 42.7







Subsidiaries (Net) 3,564 27 3,591 4.2 2,855 28 2,883 3.8Financial subsidiaries 1,789 27 1,816 2.1 1,548 28 1,576 2.1Non-financial subsidiaries 1,774 0 1,774 2.1 1,307 0 1,307 1.7






Goodwill 0 0 0 0.0 0 0 0 0.0Other 21 0 21 0.0 22 0 22 0.0




Total Assets 60,603 25,113 85,716 100.0 50,933 25,193 76,127 100.0

II-95

Türkiye Bankası A. . December 2010



Deposits 38,756 18,645 57,401 67.0 30,035 18,494 48,529 63.7Deposits held by the Banks risk group 1,363 868 2,231 2.6 924 846 1,771 2.3Other 37,393 17,777 55,170 64.4 29,111 17,647 46,758 61.4

Derivative Finan. Liabilities Held for Trading 256 211 466 0.5 219 109 327 0.4Funds Borrowed 72 5,158 5,231 6.1 1,610 4,941 6,551 8.6Money Market Takings 4,168 2,439 6,607 7.7 4,292 3,093 7,385 9.7







Provisions 2,352 10 2,362 2.8 2,339 11 2,349 3.1General provisions 455 0 455 0.5 339 0 339 0.4Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 143 0 143 0.2 111 0 111 0.1Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 1,754 10 1,764 2.1 1,888 11 1,899 2.5




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 1,600 36 1,636 1.9 867 24 891 1.2Revaluation 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. 17 0 17 0.0 1 0 1 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 1,051 0 1,051 1.2 1,330 0 1,330 1.7

Profit reserves 3,492 0 3,492 4.1 3,183 0 3,183 4.2Legal reserves 939 0 939 1.1 857 0 857 1.1Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 2,563 0 2,563 3.0 2,332 0 2,332 3.1Other profit reserves -10 0 -10 0.0 -6 0 -6 0.0



II-96

Türkiye Bankası A. .









Dec. 2010 Dec. 2009






Profit/loss on trading account securities 335 285Profit/losses on derivative financial transactions -46 229Foreign exchange profit/loss -201 -240

Other Operating Income 1,021 722Total Operating Income/Expenses 5,132 5,330Provision for Loan Losses or other Receivables (-) 738 1,537


Other Operating Expenses (-) 2,083 1,812Personnel Expenses* 1,057 945




II-97

Türkiye Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-98

Yapı ve Kredi Bankası A. .

Assets(USD Million)





Banks 45 647 692 1.3 275 834 1,109 2.6Money Market Securities 617 0 617 1.1 1,029 0 1,029 2.4


Financial Assets Available for Sale (Net) 2,657 551 3,208 5.8 383 467 850 2.0Securities representing a share in capital 2 0 2 0.0 4 1 5 0.0Public sector debt securities 1,969 352 2,321 4.2 350 438 788 1.8Other marketable securities 687 199 885 1.6 30 27 57 0.1

Loans 22,486 11,733 34,219 62.1 16,624 8,830 25,454 58.6Loans 22,230 11,712 33,942 61.6 16,358 8,826 25,183 58.0


Loans under follow-up 1,149 61 1,210 2.2 1,728 7 1,735 4.0Specific provisions (-) 892 41 933 1.7 1,461 3 1,465 3.4





Subsidiaries (Net) 906 258 1,164 2.1 953 262 1,215 2.8Financial subsidiaries 904 258 1,163 2.1 951 262 1,213 2.8Non-financial subsidiaries 1 0 1 0.0 2 0 2 0.0






Goodwill 637 0 637 1.2 659 0 659 1.5Other 163 0 163 0.3 139 0 139 0.3




Total Assets 34,400 20,735 55,135 100.0 26,945 16,463 43,408 100.0

II-99

Yapı ve Kredi Bankası A. . December 2010




Derivative Finan. Liabilities Held for Trading 189 28 217 0.4 149 30 180 0.4Funds Borrowed 629 4,816 5,445 9.9 509 3,060 3,569 8.2Money Market Takings 29 1,896 1,925 3.5 44 579 623 1.4

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 29 1,896 1,925 3.5 44 579 623 1.4






Provisions 1,238 244 1,483 2.7 1,306 263 1,569 3.6General provisions 339 194 533 1.0 372 228 600 1.4Restructuring reserves 0 0 0 0.0 0 0 0 0.0Reserves for employee benefit 105 0 105 0.2 101 0 101 0.2Insurance technical reserves (Net) 0 0 0 0.0 0 0 0 0.0Other provisions 794 50 844 1.5 833 35 869 2.0


Lia.for Pro.&Equ.for Sale p. and from Term.Op.(Net) 0 0 0 0.0 0 0 0 0.0Subordinated Loans 0 1,372 1,372 2.5 0 1,495 1,495 3.4Shareholders' Equity 6,716 -5 6,710 12.2 5,500 59 5,559 12.8

Paid-in capital 2,827 0 2,827 5.1 2,923 0 2,923 6.7Supplementary capital 466 -5 460 0.8 412 59 470 1.1

Share premium 354 0 354 0.6 366 0 366 0.8Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 66 55 120 0.2 4 59 63 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) -6 -60 -66 -0.1 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 53 0 53 0.1 42 0 42 0.1


Profit or loss 1,340 0 1,340 2.4 911 0 911 2.1Prior years income/loss 0 0 0 0.0 0 0 0 0.0Current year income/loss 1,340 0 1,340 2.4 911 0 911 2.1


II-100

Yapı ve Kredi Bankası A. .









Dec. 2010 Dec. 2009

Interest Income 3,786 4,515Interest on loans 2,957 3,482Interest received from reserve deposits 38 77Interest received from banks 18 18Interest received from money market transactions 29 58Interest received from marketable securities portfolio 744 880Other interest income 1 1


Net Interest Income/Expenses 2,081 2,339Net Fees and Commissions Income/Expenses 1,038 966







Net Operating Profit/Loss 1,639 1,152Surplus 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 1,639 1,152Provisions for Taxes on Income from Continuing Operations (±) -299 -241Net Profit/Loss from Continuing Operations 1,340 911Net 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 1,340 911


II-101

Yapı ve Kredi Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-103

II-104

Birle ik Fon Bankası A. .

Assets(USD Million)








Loans 2 0 2 0.4 8 0 8 1.5Loans 1 0 1 0.1 1 0 1 0.1













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




Total Assets 452 62 514 100.0 471 72 542 100.0

II-105

Birle ik Fon Bankası A. . December 2010
















Profit reserves 11,500 0 11,500 2,236.2 11,926 0 11,926 2,198.4Legal reserves 17 0 17 3.4 18 0 18 3.3Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 11,483 0 11,483 2,232.8 11,908 0 11,908 2,195.1Other profit reserves 0 0 0 0.0 0 0 0 0.0

Profit or loss -11,422 0 -11,422 -2,221.0 -11,810 0 -11,810 -2,177.1Prior years income/loss -11,424 0 -11,424 -2,221.3 -11,847 0 -11,847 -2,183.8Current year income/loss 1 0 1 0.3 37 0 37 6.8


II-106

Birle ik Fon Bankası A. .









Dec. 2010 Dec. 2009













II-107

Birle ik Fon Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality




Loans Under Follow-up (gross) / Total Loans and Receivables 1,786.0 519.5





Liquidity




Profitability












II-109

II-110

Arap Türk Bankası A. .

Assets(USD Million)








Loans 141 181 322 43.5 136 99 235 36.2Loans 141 181 322 43.5 136 99 235 36.2













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




Total Assets 348 394 742 100.0 354 296 649 100.0

II-111

Arap Türk Bankası A. . December 2010



















II-112

Arap Türk Bankası A. .



Guarantees and Warranties 4 1,013 1,017 1 786 787Letters of guarantee 4 810 814 1 582 583Bank acceptances 0 9 9 0 11 11Letters of credit 0 194 194 0 193 193Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 0 0 0 0 0




Total Off Balance Sheet Commitments 145 1,279 1,424 156 1,147 1,303


Dec. 2010 Dec. 2009













II-113

Arap Türk Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-114

Bank Mellat

Assets(USD Million)








Loans 6 723 728 61.0 0 152 153 57.5Loans 5 723 728 61.0 0 152 153 57.4













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




Total Assets 205 988 1,193 100.0 44 222 266 100.0

II-115

Bank Mellat December 2010


















Total Liabilities 215 979 1,193 100.0 52 213 266 100.0

II-116

Bank Mellat









Dec. 2010 Dec. 2009













II-117

Bank Mellat December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-118

Citibank A. .

Assets(USD Million)








Loans 1,168 330 1,497 36.6 1,092 311 1,403 42.8Loans 1,153 330 1,482 36.3 1,071 311 1,382 42.1













Goodwill 0 0 0 0.0 0 0 0 0.0Other 6 0 6 0.1 5 0 5 0.2




Total Assets 3,503 583 4,087 100.0 2,774 506 3,280 100.0

II-119

Citibank A. . December 2010



Deposits 1,771 1,051 2,822 69.1 1,706 725 2,431 74.1Deposits held by the Banks risk group 134 0 134 3.3 150 17 166 5.1Other 1,637 1,051 2,688 65.8 1,556 708 2,264 69.0
















II-120

Citibank A. .




Commitments 1,295 463 1,758 885 1 886Irrevocable commitments 1,295 463 1,758 885 1 886Revocable commitments 0 0 0 0 0 0

Derivative Financial Instruments 999 1,567 2,566 2,359 3,078 5,437Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 999 1,567 2,566 2,359 3,078 5,437

Custody and Pledged Securities 19,677 981 20,658 14,750 925 15,674Items held in Custody 19,561 262 19,823 14,600 227 14,827Pledged Items 116 719 835 150 698 848Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2010 Dec. 2009



Net Interest Income/Expenses 219 242Net Fees and Commissions Income/Expenses -11 -6



Profit/loss on trading account securities 23 54Profit/losses on derivative financial transactions 2 -37Foreign exchange profit/loss -9 66







II-121

Citibank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-122

Denizbank A. .

Assets(USD Million)


Cash and Balances with the Central Bank 244 866 1,110 6.2 428 487 914 6.4Fin.ass.where fair value cha. is refl.to I/S (Net) 216 169 385 2.1 97 54 151 1.1






Loans 9,234 2,771 12,005 66.7 7,064 2,463 9,528 66.8Loans 9,068 2,771 11,839 65.8 6,868 2,463 9,331 65.4













Goodwill 0 0 0 0.0 0 0 0 0.0Other 22 0 22 0.1 19 0 19 0.1




Total Assets 13,638 4,351 17,989 100.0 10,425 3,832 14,257 100.0

II-123

Denizbank A. . December 2010















Share premium 64 0 64 0.4 66 0 66 0.5Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 71 19 90 0.5 49 14 63 0.4Revaluation 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) -67 -4 -71 -0.4 -75 -4 -79 -0.6Val.inc.in pro.& equ.held for sale p.and term.ope. 0 0 0 0.0 0 0 0 0.0Other capital reserves 123 0 123 0.7 127 0 127 0.9

Profit reserves 1,065 0 1,065 5.9 743 0 743 5.2Legal reserves 52 0 52 0.3 36 0 36 0.3Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 1,009 0 1,009 5.6 704 0 704 4.9Other profit reserves 3 0 3 0.0 3 0 3 0.0



II-124

Denizbank A. .



Guarantees and Warranties 1,915 2,946 4,861 1,337 2,053 3,390Letters of guarantee 1,913 1,606 3,519 1,337 1,162 2,499Bank acceptances 0 115 115 0 81 81Letters of credit 2 1,046 1,048 0 608 608Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 179 179 0 203 203

Commitments 17,319 16,348 33,667 3,517 3,154 6,671Irrevocable commitments 3,577 4,376 7,954 3,517 3,154 6,671Revocable commitments 13,742 11,972 25,713 0 0 0

Derivative Financial Instruments 4,782 12,143 16,925 3,271 8,401 11,672Derivative finan. instruments held for hedging 554 1,040 1,595 595 1,074 1,668Trading transactions 4,227 11,103 15,330 2,676 7,327 10,004




Dec. 2010 Dec. 2009













II-125

Denizbank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-126

Deutsche Bank A. .

Assets(USD Million)





Banks 35 1 36 1.8 27 19 47 3.6Money Market Securities 1,525 0 1,525 76.8 315 0 315 24.6

Interbank money market placements 0 0 0 0.0 315 0 315 24.6Istanbul Stock Exc. money market placements 0 0 0 0.0 0 0 0 0.0Receiv. from reverse repurchase agreements 1,525 0 1,525 76.8 0 0 0 0.0


Loans 53 57 110 5.5 32 15 46 3.6Loans 53 57 110 5.5 32 15 46 3.6













Goodwill 0 0 0 0.0 0 0 0 0.0Other 30 0 30 1.5 77 0 77 6.0




Total Assets 1,886 99 1,984 100.0 1,212 72 1,284 100.0

II-127

Deutsche Bank A. . December 2010



Deposits 536 628 1,164 58.7 91 292 383 29.8Deposits held by the Banks risk group 340 0 340 17.1 17 0 17 1.3Other 196 628 824 41.5 74 292 366 28.5














Profit or loss -4 0 -4 -0.2 71 0 71 5.5Prior years income/loss 0 0 0 0.0 0 0 0 0.0Current year income/loss -4 0 -4 -0.2 71 0 71 5.5

Total Liabilities 1,336 648 1,984 100.0 985 299 1,284 100.0

II-128

Deutsche Bank A. .




Commitments 660 968 1,628 399 400 799Irrevocable commitments 660 968 1,628 399 400 799Revocable commitments 0 0 0 0 0 0

Derivative Financial Instruments 875 1,564 2,440 725 871 1,596Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 875 1,564 2,440 725 871 1,596

Custody and Pledged Securities 13,041 10 13,052 10,898 10 10,908Items held in Custody 13,041 10 13,052 10,898 10 10,908Pledged Items 0 0 0 0 0 0Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2010 Dec. 2009










Net Operating Profit/Loss -3 90Surplus 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 -3 90Provisions for Taxes on Income from Continuing Operations (±) 0 -19Net Profit/Loss from Continuing Operations -4 71Net 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 -4 71


II-129

Deutsche Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality






Specific Provisions / Loans Under Follow-up 35.7 -



Liquidity




Profitability

Net Profit/Losses / Total Assets -0.2 5.5

Net Profit/Losses / Total Shareholders' Equity -1.6 25.6

Profit/Losses Before Taxes after Continuing Operations / Total Assets -0.2 7.0









II-130

Eurobank Tekfen A. .

Assets(USD Million)








Loans 715 339 1,054 39.1 616 234 850 32.8Loans 681 339 1,021 37.8 566 234 800 30.8

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 681 339 1,021 37.8 566 234 800 30.8












Goodwill 0 0 0 0.0 0 0 0 0.0Other 12 0 12 0.4 3 0 3 0.1




Total Assets 2,185 515 2,700 100.0 2,076 517 2,593 100.0

II-131

Eurobank Tekfen A. . December 2010



Deposits 752 477 1,228 45.5 725 520 1,245 48.0Deposits held by the Banks risk group 234 99 333 12.3 299 159 458 17.7Other 518 377 895 33.2 426 360 787 30.3















Total Liabilities 2,071 629 2,700 100.0 1,945 648 2,593 100.0

II-132

Eurobank Tekfen A. .





Derivative Financial Instruments 443 1,738 2,181 95 383 478Derivative finan. instruments held for hedging 0 120 120 0 120 120Trading transactions 443 1,618 2,061 95 263 358

Custody and Pledged Securities 4,011 4,065 8,077 2,593 3,509 6,102Items held in Custody 1,464 202 1,666 760 171 931Pledged Items 2,540 3,858 6,397 1,833 3,338 5,171Acccepted independent guaran. and warran. 7 6 13 0 0 0



Dec. 2010 Dec. 2009













II-133

Eurobank Tekfen A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-134

Finans Bank A. .

Assets(USD Million)


Cash and Balances with the Central Bank 746 812 1,557 6.3 681 524 1,205 6.1Fin.ass.where fair value cha. is refl.to I/S (Net) 848 100 948 3.8 1,365 36 1,401 7.1


Fin.assets clas. as fair value change is refl.to I/S 684 0 684 2.8 1,110 0 1,110 5.6Public sector debt securities 49 0 49 0.2 53 0 53 0.3Securities representing a share in capital 0 0 0 0.0 0 0 0 0.0Loans 635 0 635 2.6 1,057 0 1,057 5.4Other marketable securities 0 0 0 0.0 0 0 0 0.0




Loans 14,579 1,588 16,167 65.3 10,424 1,373 11,798 59.8Loans 14,428 1,588 16,016 64.7 10,353 1,373 11,726 59.5


Loans under follow-up 1,143 0 1,143 4.6 978 0 978 5.0Specific provisions (-) 992 0 992 4.0 907 0 907 4.6











Goodwill 0 0 0 0.0 0 0 0 0.0Other 64 0 64 0.3 42 0 42 0.2




Total Assets 21,284 3,487 24,771 100.0 16,548 3,164 19,712 100.0

II-135

Finans Bank A. . December 2010



Deposits 11,893 3,996 15,889 64.1 8,746 4,881 13,627 69.1Deposits held by the Banks risk group 248 108 356 1.4 190 834 1,025 5.2Other 11,645 3,888 15,532 62.7 8,556 4,046 12,603 63.9












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 164 7 171 0.7 56 28 84 0.4Revaluation 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. 2 0 2 0.0 0 0 0 0.0Hedging funds (active part) -14 0 -14 -0.1 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 1,199 0 1,199 4.8 859 0 859 4.4Legal reserves 119 0 119 0.5 101 0 101 0.5Status reserves 0 0 0 0.0 0 0 0 0.0Extraordinary reserves 1,081 0 1,081 4.4 758 0 758 3.8Other profit reserves 0 0 0 0.0 0 0 0 0.0



II-136

Finans Bank A. .



Guarantees and Warranties 1,932 1,994 3,925 1,505 1,985 3,490Letters of guarantee 1,930 1,032 2,962 1,505 1,147 2,653Bank acceptances 2 468 469 0 447 447Letters of credit 0 470 470 0 363 363Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 24 24 0 28 28


Derivative Financial Instruments 15,038 19,079 34,117 9,293 10,707 20,000Derivative finan. instruments held for hedging 3,992 2,684 6,676 0 97 97Trading transactions 11,046 16,395 27,441 9,293 10,610 19,903




Dec. 2010 Dec. 2009


Interest Expenses 1,000 1,100Interest on deposits 878 900Interest on money market transactions 89 143Interest on funds borrowed 33 55Interest on securities issued 0 0Other interest expenses 0 1








Net Operating Profit/Loss 737 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 737 397Provisions for Taxes on Income from Continuing Operations (±) -142 -86Net Profit/Loss from Continuing Operations 595 311Net Profit/Loss Before Taxes from Terminated Operations 0 133Provisions for Taxes on Income from Terminated Operations (±) 0 -7Net Profit/Loss from Terminated Operations 0 126



II-137

Finans Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-138

Fortis Bank A. .

Assets(USD Million)







Financial Assets Available for Sale (Net) 569 75 645 8.2 1,115 176 1,291 17.0Securities representing a share in capital 4 0 4 0.1 13 1 13 0.2Public sector debt securities 565 75 640 8.1 1,102 173 1,276 16.8Other marketable securities 0 0 0 0.0 0 2 2 0.0

Loans 4,426 926 5,352 67.8 4,069 606 4,675 61.7Loans 4,355 926 5,281 66.9 3,920 606 4,526 59.7













Goodwill 0 0 0 0.0 0 0 0 0.0Other 5 0 5 0.1 7 0 7 0.1




Total Assets 6,071 1,819 7,891 100.0 5,965 1,615 7,580 100.0

II-139

Fortis Bank A. . December 2010



















II-140

Fortis Bank A. .



Guarantees and Warranties 540 983 1,524 476 1,321 1,797Letters of guarantee 504 598 1,103 463 714 1,176Bank acceptances 0 183 183 0 103 103Letters of credit 0 198 198 0 441 441Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 36 4 40 13 64 77






Dec. 2010 Dec. 2009





Dividend Income 3 28Trading Profit/Loss (net) 3 -6



Specific provisions of banks loans and other receivables* 42 102General provision expenses* 9 -1


Net Operating Profit/Loss 11 91Surplus 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 91Provisions for Taxes on Income from Continuing Operations (±) -9 -16Net Profit/Loss from Continuing Operations 2 75Net Profit/Loss Before Taxes from Terminated Operations 15 0Provisions for Taxes on Income from Terminated Operations (±) -3 0Net Profit/Loss from Terminated Operations 12 0



II-141

Fortis Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-142

Habib Bank Limited

Assets(USD Million)








Loans 10 3 14 28.1 7 2 9 17.6Loans 10 3 13 27.3 7 1 7 15.2













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




Total Assets 30 19 49 100.0 27 22 49 100.0

II-143

Habib Bank Limited December 2010



















II-144

Habib Bank Limited









Dec. 2010 Dec. 2009













II-145

Habib Bank Limited December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-146

HSBC Bank A. .

Assets(USD Million)





Banks 101 87 188 1.6 26 472 498 5.3Money Market Securities 1,585 0 1,585 13.7 0 503 503 5.4

Interbank money market placements 0 0 0 0.0 0 0 0 0.0Istanbul Stock Exc. money market placements 0 0 0 0.0 0 0 0 0.0Receiv. from reverse repurchase agreements 1,585 0 1,585 13.7 0 503 503 5.4


Loans 5,389 901 6,290 54.5 5,239 645 5,884 63.2Loans 5,251 901 6,152 53.3 5,102 589 5,690 61.1













Goodwill 54 0 54 0.5 56 0 56 0.6Other 8 0 8 0.1 13 0 13 0.1




Total Assets 9,782 1,754 11,536 100.0 7,150 2,162 9,312 100.0

II-147

HSBC Bank A. . December 2010




Derivative Finan. Liabilities Held for Trading 49 13 62 0.5 18 39 57 0.6Funds Borrowed 847 1,374 2,221 19.3 715 289 1,004 10.8Money Market Takings 0 0 0 0.0 0 0 0 0.0















II-148

HSBC Bank A. .



Guarantees and Warranties 130 1,239 1,368 99 842 941Letters of guarantee 130 335 464 99 302 401Bank acceptances 0 395 395 0 255 256Letters of credit 0 397 397 0 210 210Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 111 111 0 74 74

Commitments 4,308 22,988 27,295 4,688 1,253 5,941Irrevocable commitments 4,159 12 4,171 4,688 1,253 5,941Revocable commitments 149 22,975 23,124 0 0 0


Custody and Pledged Securities 32,760 1,065 33,825 5,997 1,398 7,395Items held in Custody 32,749 993 33,742 5,990 1,326 7,315Pledged Items 10 72 82 7 73 80Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2010 Dec. 2009

Interest Income 1,066 1,280Interest on loans 850 1,087Interest received from reserve deposits 8 16Interest received from banks 6 9Interest received from money market transactions 38 34Interest received from marketable securities portfolio 143 101Other interest income 21 32






Other Operating Income 38 46Total Operating Income/Expenses 949 1,125Provision for Loan Losses or other Receivables (-) 128 320






II-149

HSBC Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-150

ING Bank A. .

Assets(USD Million)








Loans 6,569 1,354 7,924 70.4 6,234 1,165 7,399 72.2Loans 6,474 1,354 7,828 69.6 6,097 1,165 7,262 70.9













Goodwill 0 0 0 0.0 0 0 0 0.0Other 14 0 14 0.1 14 0 14 0.1




Total Assets 9,199 2,052 11,251 100.0 8,456 1,786 10,242 100.0

II-151

ING Bank A. . December 2010














Paid-in capital 1,235 0 1,235 11.0 1,167 0 1,167 11.4Supplementary capital -26 0 -26 -0.2 -42 0 -42 -0.4

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 24 0 24 0.2 27 0 27 0.3Revaluation 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) -50 0 -50 -0.4 -70 0 -70 -0.7Val.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 1,162 1,723 2,885 1,021 1,594 2,615Letters of guarantee 1,162 850 2,011 1,021 929 1,950Bank acceptances 0 55 55 0 62 62Letters of credit 0 521 521 0 485 485Prefinancing given as guarantee 0 0 0 0 0 0Endorsements 0 0 0 0 0 0Other guarantees and warrantees 0 297 298 0 118 118

Commitments 13,272 222 13,493 1,528 118 1,646Irrevocable commitments 2,577 222 2,799 1,528 118 1,646Revocable commitments 10,694 0 10,694 0 0 0

Derivative Financial Instruments 2,953 2,269 5,222 3,564 1,557 5,121Derivative finan. instruments held for hedging 1,427 0 1,427 2,670 0 2,670Trading transactions 1,526 2,269 3,795 894 1,557 2,451

Custody and Pledged Securities 64,431 9,242 73,673 54,304 9,741 64,045Items held in Custody 2,579 195 2,774 2,205 201 2,406Pledged Items 27,335 2,728 30,063 24,616 3,225 27,840Acccepted independent guaran. and warran. 34,518 6,319 40,836 27,483 6,315 33,799



Dec. 2010 Dec. 2009

Interest Income 1,120 1,427Interest on loans 956 1,185Interest received from reserve deposits 0 0Interest received from banks 11 22Interest received from money market transactions 0 1Interest received from marketable securities portfolio 152 218Other interest income 0 0





Profit/loss on trading account securities -6 9Profit/losses on derivative financial transactions -219 -252Foreign exchange profit/loss 6 6







II-153

ING Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability







Non-interest Income (net) / Total Assets -0.4 -0.5



Non-interest Income (net) / Other Operating Expenses -10.3 -11.8


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 0.1 0 0 0 0.2




Total Assets 417 40 456 100.0 60 74 134 100.0

II-155

JPMorgan Chase Bank N.A. December 2010



















II-156

JPMorgan Chase Bank N.A.







Total Off Balance Sheet Commitments 541 495 1,036 571 421 992


Dec. 2010 Dec. 2009






Profit/loss on trading account securities 10 30Profit/losses on derivative financial transactions 3 -2Foreign exchange profit/loss -15 -7







II-157

JPMorgan Chase Bank N.A. December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios









FC Assets / FC Liabilities 12.2 1,838.2





Assets Quality






Specific Provisions / Loans Under Follow-up - -



Liquidity


Liquid Assets / Short-term Liabilities 137.8 1,484.1


Profitability












II-158

Millennium Bank A. .

Assets(USD Million)








Loans 404 13 416 70.9 469 20 489 67.9Loans 395 13 407 69.4 459 20 479 66.6













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




Total Assets 505 82 587 100.0 607 113 720 100.0

II-159

Millennium Bank A. . December 2010

















Profit or loss -79 0 -79 -13.5 -72 0 -72 -10.0Prior years income/loss -70 0 -70 -11.9 -60 0 -60 -8.4Current year income/loss -10 0 -10 -1.6 -12 0 -12 -1.7


II-160

Millennium Bank A. .




Commitments 685 6 690 740 1,561 2,301Irrevocable commitments 65 6 70 437 1,561 1,998Revocable commitments 620 0 620 303 0 303

Derivative Financial Instruments 132 902 1,034 161 1,143 1,304Derivative finan. instruments held for hedging 0 0 0 70 613 683Trading transactions 132 902 1,034 91 531 622

Custody and Pledged Securities 1,854 2,510 4,364 910 1,387 2,298Items held in Custody 18 21 38 46 41 87Pledged Items 1,836 2,489 4,325 849 1,288 2,138Acccepted independent guaran. and warran. 0 0 0 16 58 74



Dec. 2010 Dec. 2009










Net Operating Profit/Loss -10 -14Surplus 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 -10 -14Provisions for Taxes on Income from Continuing Operations (±) 1 2Net Profit/Loss from Continuing Operations -10 -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 -10 -12


II-161

Millennium Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability

Net Profit/Losses / Total Assets -1.6 -1.7

Net Profit/Losses / Total Shareholders' Equity -13.6 -14.6

Profit/Losses Before Taxes after Continuing Operations / Total Assets -1.7 -2.0




Non-interest Income (net) / Total Assets 0.0 -0.1





II-162

Société Générale (SA)

Assets(USD Million)








Loans 212 16 228 52.0 85 20 105 43.5Loans 209 16 225 51.3 83 20 103 42.6













Goodwill 0 0 0 0.0 0 0 0 0.0Other 5 0 5 1.1 3 0 3 1.2




Total Assets 380 59 439 100.0 191 51 242 100.0

II-163

Société Générale (SA) December 2010

















Profit or loss -39 0 -39 -9.0 -43 0 -43 -17.9Prior years income/loss -42 0 -42 -9.6 -32 0 -32 -13.3Current year income/loss 3 0 3 0.6 -11 0 -11 -4.6


II-164

Société Générale (SA)









Dec. 2010 Dec. 2009










Net Operating Profit/Loss 1 -11Surplus 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 -11Provisions for Taxes on Income from Continuing Operations (±) 2 0Net Profit/Loss from Continuing Operations 3 -11Net 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 3 -11


II-165

Société Générale (SA) December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability

Net Profit/Losses / Total Assets 0.6 -4.6

Net Profit/Losses / Total Shareholders' Equity 4.4 -72.8

Profit/Losses Before Taxes after Continuing Operations / Total Assets 0.1 -4.4




Non-interest Income (net) / Total Assets -3.0 -3.4





II-166

The Royal Bank of Scotland N.V.

Assets(USD Million)








Loans 82 82 163 22.1 63 65 128 15.9Loans 80 82 161 21.8 62 65 127 15.7













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




Total Assets 471 268 740 100.0 707 98 805 100.0

II-167

The Royal Bank of Scotland N.V. December 2010



















II-168

The Royal Bank of Scotland N.V.









Dec. 2010 Dec. 2009













II-169

The Royal Bank of Scotland N.V. December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-170

Turkland Bank A. .

Assets(USD Million)








Loans 520 133 652 66.4 370 115 486 63.1Loans 505 133 638 64.9 366 115 482 62.6













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




Total Assets 729 253 982 100.0 573 196 770 100.0

II-171

Turkland Bank A. . December 2010



















II-172

Turkland Bank A. .









Dec. 2010 Dec. 2009










Net Operating Profit/Loss 3 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 3 2Provisions for Taxes on Income from Continuing Operations (±) -1 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



II-173

Turkland Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-174

WestLB AG

Assets(USD Million)








Loans 12 21 33 4.2 1 23 24 6.4Loans 12 21 33 4.2 1 23 24 6.4













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




Total Assets 708 69 777 100.0 290 84 374 100.0

II-175

WestLB AG December 2010



















II-176

WestLB AG









Dec. 2010 Dec. 2009













II-177

WestLB AG December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-179

II-180

Aktif Yatırım Bankası A. .

Assets(USD Million)








Loans 414 55 469 48.8 161 39 200 51.5Loans 414 55 469 48.8 161 39 200 51.5













Goodwill 0 0 0 0.0 0 0 0 0.0Other 8 0 8 0.9 5 0 5 1.4




Total Assets 685 277 962 100.0 284 105 389 100.0

II-181

Aktif Yatırım Bankası A. . December 2010



















II-182

Aktif Yatırım Bankası A. .




Commitments 868 1,648 2,516 49 21 70Irrevocable commitments 190 15 205 49 21 70Revocable commitments 678 1,633 2,311 0 0 0


Custody and Pledged Securities 3,735 371 4,106 60 66 126Items held in Custody 3,384 4 3,388 11 5 17Pledged Items 351 367 718 48 61 109Acccepted independent guaran. and warran. 0 0 0 0 0 0

Total Off Balance Sheet Commitments 4,824 2,771 7,594 214 329 542


Dec. 2010 Dec. 2009













II-183

Aktif Yatırım Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-184

BankPozitif Kredi ve Kalkınma Bankası A. .

Assets(USD Million)








Loans 429 303 733 69.3 529 280 809 75.5Loans 409 303 712 67.4 497 280 777 72.4













Goodwill 0 0 0 0.0 0 0 0 0.0Other 2 0 2 0.2 3 0 3 0.3




Total Assets 563 494 1,057 100.0 636 437 1,073 100.0

II-185

BankPozitif Kredi ve Kalkınma Bankası A. . December 2010













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 305 0 305 28.8 300 -1 299 27.9

Paid-in capital 219 0 219 20.8 227 0 227 21.1Supplementary capital 28 0 27 2.6 28 -1 27 2.5

Share premium 13 0 13 1.2 14 0 14 1.3Share cancellation profits 0 0 0 0.0 0 0 0 0.0Valuation changes in marketable securities 3 0 2 0.2 1 -1 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 12 0 12 1.1 14 0 14 1.3



Total Liabilities 466 591 1,057 100.0 411 662 1,073 100.0

II-186

BankPozitif Kredi ve Kalkınma Bankası A. .





Derivative Financial Instruments 182 737 918 144 946 1,090Derivative finan. instruments held for hedging 0 0 0 0 0 0Trading transactions 182 737 918 144 946 1,090

Custody and Pledged Securities 951 1,923 2,874 753 2,096 2,849Items held in Custody 24 52 77 15 77 92Pledged Items 927 1,871 2,797 738 2,019 2,757Acccepted independent guaran. and warran. 0 0 0 0 0 0

Total Off Balance Sheet Commitments 1,226 3,433 4,660 948 3,333 4,281


Dec. 2010 Dec. 2009













II-187

BankPozitif Kredi ve Kalkınma Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-188

Credit Agricole Yatırım Bankası Türk A. .

Assets(USD Million)








Loans 0 0 0 0.2 0 0 0 0.1Loans 0 0 0 0.2 0 0 0 0.1













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




Total Assets 39 4 43 100.0 37 6 43 100.0

II-189

Credit Agricole Yatırım Bankası Türk A. . December 2010

















Profit or loss -9 0 -9 -20.6 -65 0 -65 -149.0Prior years income/loss -13 0 -13 -29.2 -71 0 -71 -163.7Current year income/loss 4 0 4 8.6 6 0 6 14.8


II-190

Credit Agricole Yatırım Bankası Türk A. .









Dec. 2010 Dec. 2009






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




Net Operating Profit/Loss 5 8Surplus 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 8Provisions for Taxes on Income from Continuing Operations (±) 0 -1Net Profit/Loss from Continuing Operations 5 6Net Profit/Loss Before Taxes from Terminated Operations 0 0Provisions for Taxes on Income from Terminated Operations (±) -1 0Net Profit/Loss from Terminated Operations -1 0



II-191

Credit Agricole Yatırım Bankası Türk A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality




Loans Under Follow-up (gross) / Total Loans and Receivables 5,080.2 11,661.4





Liquidity


Liquid Assets / Short-term Liabilities 5,199.1 1,187.2


Profitability












II-192

Diler Yatırım Bankası A. .

Assets(USD Million)








Loans 51 6 57 85.1 52 6 57 90.5Loans 51 6 57 85.1 52 6 57 90.5













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




Total Assets 52 15 67 100.0 54 9 63 100.0

II-193

Diler Yatırım Bankası A. . December 2010



















II-194

Diler Yatırım Bankası A. .









Dec. 2010 Dec. 2009













II-195

Diler Yatırım Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-196

GSD Yatırım Bankası A. .

Assets(USD Million)








Loans 57 2 59 86.0 52 1 53 76.3Loans 56 2 57 83.8 50 1 51 73.3













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




Total Assets 61 8 68 100.0 63 6 69 100.0

II-197

GSD Yatırım Bankası A. . December 2010



















II-198

GSD Yatırım Bankası A. .






Custody and Pledged Securities 874 290 1,163 729 297 1,026Items held in Custody 0 0 0 3 0 3Pledged Items 160 62 221 132 66 198Acccepted independent guaran. and warran. 714 228 942 594 232 826

Total Off Balance Sheet Commitments 1,057 312 1,369 781 309 1,090


Dec. 2010 Dec. 2009













II-199

GSD Yatırım Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-200

ller Bankası A. .

Assets(USD Million)





Banks 1,842 5 1,846 29.3 1,078 4 1,082 20.1Money Market Securities 0 0 0 0.0 3 0 3 0.1



Loans 4,119 218 4,338 68.9 4,012 139 4,152 77.1Loans 4,119 218 4,338 68.9 4,012 139 4,152 77.1













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




Total Assets 6,068 226 6,294 100.0 5,240 145 5,385 100.0

II-201

ller Bankası A. . December 2010







Funds 1,153 0 1,153 18.3 831 0 831 15.4Borrower funds 0 0 0 0.0 0 0 0 0.0Others 1,153 0 1,153 18.3 831 0 831 15.4











Total Liabilities 6,067 227 6,294 100.0 5,239 145 5,385 100.0

II-202

ller Bankası A. .



Guarantees and Warranties 774 0 774 1,004 0 1,004Letters of guarantee 774 0 774 1,004 0 1,004Bank 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 630 42 672 937 92 1,030Items held in Custody 569 28 597 937 92 1,030Pledged Items 61 14 75 0 0 0Acccepted independent guaran. and warran. 0 0 0 0 0 0



Dec. 2010 Dec. 2009













II-203

ller Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-204

MKB Takas ve Saklama Bankası A. .

Assets(USD Million)








Loans 13 0 13 1.4 5 0 5 0.5Loans 12 0 12 1.3 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 958 20 979 100.0 982 20 1,003 100.0

II-205

MKB Takas ve Saklama Bankası A. . December 2010


















Total Liabilities 959 19 979 100.0 983 19 1,003 100.0

II-206

MKB Takas ve Saklama Bankası A. .



Guarantees and Warranties 1,761 0 1,761 1,114 0 1,114Letters 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 1,761 0 1,761 1,114 0 1,114



Custody and Pledged Securities 5,747,089 407 5,747,496 4,421,206 244 4,421,450Items held in Custody 5,744,694 0 5,744,694 4,419,424 0 4,419,424Pledged Items 2,395 407 2,802 1,782 244 2,026Acccepted independent guaran. and warran. 0 0 0 0 0 0

Total Off Balance Sheet Commitments 5,748,849 407 5,749,256 4,422,320 244 4,422,564


Dec. 2010 Dec. 2009













II-207

MKB Takas ve Saklama Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-208

Merrill Lynch Yatırım 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 0.1 0 0 0 0.2




Total Assets 172 48 220 100.0 110 29 139 100.0

II-209

Merrill Lynch Yatırım Bank A. . December 2010

















Profit or loss 8 0 8 3.6 -2 0 -2 -1.2Prior years income/loss -2 0 -2 -0.7 -7 0 -7 -4.9Current year income/loss 10 0 10 4.3 5 0 5 3.7


II-210

Merrill Lynch Yatırım Bank A. .









Dec. 2010 Dec. 2009













II-211

Merrill Lynch Yatırım Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-212

Nurol Yatırım Bankası A. .

Assets(USD Million)








Loans 35 43 78 54.9 22 41 64 54.1Loans 33 43 76 53.5 22 41 63 53.3













Goodwill 0 0 0 0.0 0 0 0 0.0Other 0 0 0 0.3 0 0 0 0.1




Total Assets 62 79 141 100.0 47 70 117 100.0

II-213

Nurol Yatırım Bankası A. . December 2010



















II-214

Nurol Yatırım Bankası A. .







Total Off Balance Sheet Commitments 1,012 177 1,189 72 127 198


Dec. 2010 Dec. 2009













II-215

Nurol Yatırım Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability



Profit/Losses Before Taxes after Continuing Operations / Total Assets -0.1 1.7









II-216

Taib Yatırım Bank A. .

Assets(USD Million)








Loans 0 0 0 0.0 0 0 0 0.6Loans 0 0 0 0.0 0 0 0 0.6













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




Total Assets 9 0 9 100.0 17 0 17 100.0

II-217

Taib Yatırım Bank A. . December 2010

















Profit or loss -10 0 -10 -106.7 -8 0 -8 -44.5Prior years income/loss -7 0 -7 -80.8 -5 0 -5 -32.2Current year income/loss -2 0 -2 -25.9 -2 0 -2 -12.3


II-218

Taib Yatırım Bank A. .









Dec. 2010 Dec. 2009










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


II-219

Taib Yatırım Bank A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios



(Shareholders' Equity - Permanent Assets) / Total Assets -2.2 -26.9








TC Loans / Total Loans and Receivables - 100.0



Assets Quality




Loans Under Follow-up (gross) / Total Loans and Receivables - 41.1

Loans Under Follow-up (net) / Total Loans and Receivables - 0.0



Consumer Loans / Total Loans and Receivables - 0.0

Liquidity




Profitability

Net Profit/Losses / Total Assets -25.9 -12.3

Net Profit/Losses / Total Shareholders' Equity -28.3 -19.1

Profit/Losses Before Taxes after Continuing Operations / Total Assets -25.9 -12.3


Net Interest Income After Specific Provisions / Total Assets -1.7 0.0

Net Interest Income After Specific Provisions / Total Operating Income (Expenses) -35.2 0.8






II-220

Türk Eximbank

Assets(USD Million)








Loans 911 1,794 2,705 66.1 898 1,730 2,628 60.2Loans 911 1,794 2,705 66.1 898 1,730 2,628 60.2

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 911 1,794 2,705 66.1 898 1,730 2,628 60.2












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




Total Assets 1,999 2,091 4,090 100.0 2,146 2,216 4,362 100.0

II-221

Türk Eximbank December 2010



















II-222

Türk Eximbank







Total Off Balance Sheet Commitments 438 1,552 1,990 399 1,219 1,618


Dec. 2010 Dec. 2009



Net Interest Income/Expenses 188 260Net Fees and Commissions Income/Expenses -6 -4










II-223

Türk Eximbank December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity


Liquid Assets / Short-term Liabilities 5,372.4 12,739.0


Profitability












II-224

Türkiye Kalkınma Bankası A. .

Assets(USD Million)








Loans 144 622 766 73.8 163 377 539 62.3Loans 126 622 748 72.0 144 377 521 60.2













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




Total Assets 414 625 1,039 100.0 434 432 865 100.0

II-225

Türkiye Kalkınma Bankası A. . December 2010


















Total Liabilities 417 622 1,039 100.0 439 427 865 100.0

II-226

Türkiye Kalkınma Bankası A. .






Custody and Pledged Securities 1,622 3,190 4,811 1,984 2,685 4,669Items held in Custody 4 0 5 10 0 10Pledged Items 1,616 3,189 4,806 1,974 2,685 4,659Acccepted independent guaran. and warran. 1 0 1 1 0 1



Dec. 2010 Dec. 2009













II-227

Türkiye Kalkınma Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity


Liquid Assets / Short-term Liabilities 282.7 2,877.8


Profitability












II-228

Türkiye Sınai Kalkınma Bankası A. .

Assets(USD Million)








Loans 1,128 1,976 3,104 60.3 1,109 1,459 2,568 55.3Loans 1,128 1,976 3,104 60.3 1,109 1,459 2,568 55.3

Loans granted to the Banks risk group 148 90 238 4.6 137 52 190 4.1Public sector debt securities 0 0 0 0.0 0 0 0 0.0Other 980 1,886 2,866 55.7 972 1,407 2,379 51.2












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




Total Assets 2,761 2,385 5,146 100.0 2,716 1,926 4,642 100.0

II-229

Türkiye Sınai Kalkınma Bankası A. . December 2010



















II-230

Türkiye Sınai Kalkınma Bankası A. .






Custody and Pledged Securities 2,510 27,100 29,610 1,796 7,929 9,725Items held in Custody 875 119 994 1,146 71 1,217Pledged Items 1,156 16,093 17,249 650 7,858 8,509Acccepted independent guaran. and warran. 479 10,887 11,367 0 0 0



Dec. 2010 Dec. 2009






Profit/loss on trading account securities -2 1Profit/losses on derivative financial transactions 1 1Foreign exchange profit/loss -2 -1







II-231

Türkiye Sınai Kalkınma Bankası A. . December 2010

Ratios(%)

Dec. 2010 Dec. 2009

Capital Ratios














Assets Quality









Liquidity




Profitability












II-233

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

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ksG

rou

ps

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e o

f E

stab

lish

.

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tal

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ets

(US

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)

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ts(U

SD

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ion

)

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tal

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qu

ity

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p'e

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1T

ürki

ye C

umhu

riyet

i Zira

at B

anka

sı A

..

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wne

d D

epos

it B

.18

6398

,309

37,3

5981

,814

8,75

31,

626

2,41

512

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31,

399

22,7

08

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ürki

ye

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kası

A.

.P

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d D

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2485

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7457

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44

3T

ürki

ye G

aran

ti B

anka

sı A

..

Priv

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y-ow

ned

Dep

osit

B.

1946

80,6

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kası

A.

.P

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d D

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.19

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1934

,290

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827

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3,75

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,411

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ürki

ye V

akıfl

ar B

anka

sı T

.A.O

.S

tate

-ow

ned

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osit

B.

1954

48,1

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,176

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393

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636

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7T

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ye H

alk

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kası

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.S

tate

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ned

Dep

osit

B.

1938

47,4

3928

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35,6

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1,30

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9,03

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913

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8F

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.F

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.19

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346

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ürk

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kası

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.P

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220

00

4033

1027

21

33

39N

urol

Yatırım

Ban

kası

A.

.D

ev't

and

Inv'

t B

.19

9914

178

036

290

1,18

92

49

40G

SD

Yatırım

Ban

kası

A.

.D

ev't

and

Inv'

t B

.19

9868

590

4633

31,

369

128

41D

iler

Yatırım

Ban

kası

A.

.D

ev't

and

Inv'

t B

.19

9867

570

5539

216

21

18

42H

abib

Ban

k Li

mite

dF

orei

gn B

.19

8349

1413

2620

144

116

43C

redi

t Agr

icol

e Y

atırım

Ban

kası

Tür

k A

.D

ev't

and

Inv'

t B

.19

9043

00

3826

440

81

20

44A

daba

nk A

..

Priv

atel

y-ow

ned

Dep

osit

B.

1985

330

428

520

91

46

45T

aib

Yatırım

Ban

k A

..

Dev

't an

d In

v't

B.

1987

90

08

18-2

61

17

To

tal

625,

570

330,

946

399,

766

83,9

5429

,167

13,8

927,

715,

771

9,46

517

8,50

3

* 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

010

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,

465

178,

503

Priv

atel

y-ow

ned

Dep

osit

Ban

ks c

ontin

ued…

Dep

osi

t B

anks

329,

423

173,

133

eker

bank

T.A

..

260

3,48

5

Tek

stil

Ban

kası

A.

. 44

903

Sta

te-o

wn

ed B

anks

32,

744

47,2

35T

urki

sh B

ank

A.

.21

273

Tür

k E

kono

mi B

anka

sı A

..

335

5,64

6

Tür

kiye

Cum

huriy

eti Z

iraat

Ban

kası

A.

.1,

399

22,7

08T

ürki

ye G

aran

ti B

anka

sı A

..

859

16,6

75

Tür

kiye

Hal

k B

anka

sı A

..

709

13,4

50T

ürki

ye

Ban

kası

A.

.1,

142

23,9

44

Tür

kiye

Vakıfl

ar B

anka

sı T

.A.O

.63

611

,077

Yapı v

e K

redi

Ban

kası

A.

.86

814

,411

Pri

vate

ly-o

wn

ed B

anks

114,

582

83,6

33

Ada

bank

A.

.1

46B

anks

Un

der

Dep

o. I

nsu

ran

ce F

un

d1

125

2A

kban

k T

.A.

.91

315

,330

Alte

rnat

if B

ank

A.

.53

1,08

6B

irle

ik F

on B

anka

sı A

..

125

2

Ana

dolu

bank

A.

.86

1,83

4

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,

096

42,0

13D

evel

op

men

t an

d In

vest

men

t B

anks

1342

5,37

0

Ara

p T

ürk

Ban

kası

A.

.6

255

Akt

if Y

atırım

Ban

kası

A.

.6

316

Ban

k M

ella

t3

51B

ankP

oziti

f Kre

di v

e K

alkı

nma

Ban

kası

A.

.2

288

Citi

bank

A.

.37

2,11

6C

redi

t Agr

icol

e Y

atırım

Ban

kası

Tür

k A

..

120

Den

izba

nk A

..

500

8,57

3D

iler

Yatırım

Ban

kası

A.

.1

18

Deu

tsch

e B

ank

A.

.1

101

GS

D Y

atırım

Ban

kası

A.

.1

28

Eur

oban

k T

ekfe

n A

..

5487

5lle

r B

anka

sı A

..

192,

971

Fin

ans

Ban

k A

..

50

311

,734

MK

B T

akas

ve

Sak

lam

a B

anka

sı A

..

121

1

For

tis B

ank

A.

.26

94,

572

Mer

rill L

ynch

Yatırım

Ban

k A

..

133

Hab

ib B

ank

Lim

ited

1

16N

urol

Yatırım

Ban

kası

A.

.2

49

HS

BC

Ban

k A

..

333

6,57

0T

aib

Yatırım

bank

A.

.1

17

ING

Ban

k A

..

323

5,86

5T

ürk

Exi

mba

nk2

360

JPM

orga

n C

hase

Ban

k N

.A.

153

Tür

kiye

Kal

kınm

a B

anka

sı A

..

171

2

Mill

enni

um B

ank

A.

.18

292

Tür

kiye

Sın

ai K

alkı

nma

Ban

kası

A.

.4

347

Soc

iéte

Gén

éral

e (S

A)

1625

9

The

Roy

al B

ank

of S

cotla

nd N

.V.

312

9

Tur

klan

d B

ank

A.

.27

510

Wes

tLB

AG

142

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

010

(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

27,7

569,

504

1,24

128

711

00

38,8

00D

ue fr

om b

anks

4,

231

12,2

241,

005

694

1,70

51,

584

121

,444

Fin

anci

al a

sset

s w

here

fair

valu

e ch

ange

is

refle

cted

to in

com

e st

atem

ent

51,

066

990

1,32

52,

771

1,13

11

7,28

9M

oney

mar

ket p

lace

men

ts14

8,08

20

00

00

8,09

6

Mar

keta

ble

secu

ritie

s av

aila

ble

for

sale

343

5,39

83,

322

19,5

8171

,815

28,6

2817

612

9,26

4Lo

ans

6,69

955

,807

30,8

3478

,442

120,

639

37,4

671,

354

331,

242

Inve

stm

ents

hel

d to

mat

urity

0

7,43

91,

392

4,58

838

,608

11,6

300

63,6

57O

ther

ass

ets

1,48

42,

516

137

153

673

198

20,6

1625

,777

To

tal a

sset

s40

,534

102,

036

38,9

2110

5,07

023

6,22

280

,639

22,1

4862

5,57

0

Lia

bili

ties

Inte

rban

k de

posi

ts3,

101

12,4

632,

046

746

175

00

18,5

31O

ther

dep

osits

59,8

2724

4,80

462

,320

13,5

0366

911

20

381,

235

Fun

ds p

rovi

ded

from

oth

er fi

nanc

ial

inst

rum

ents

7

6,55

26,

557

21,7

8719

,478

9,96

110

64,3

52M

oney

mar

ket t

akin

gs24

30,1

233,

387

2,92

256

550

90

37,5

30M

arke

tabl

e se

curit

ies

issu

ed0

117

129

727

1,07

70

02,

049

Mis

cella

neou

s pa

yabl

es2,

710

8,30

256

572

883

022

712

,617

Oth

er li

abili

ties

3,56

33,

489

1,46

82,

176

4,95

92,

509

91,0

9010

9,25

5T

ota

l lia

bili

ties

69,2

3330

5,85

176

,472

42,5

8927

,007

13,0

9191

,327

625,

570

Liq

uid

ity

Gap

-28,

700

-203

,815

-37,

551

62,4

8120

9,21

567

,548

-69,

179

0

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

010

(b

ased

on

rep

rici

ng

dat

es)

(US

D M

illio

n)

Up

to

1

Mo

nth

1 –

3M

on

ths

3 –

12

Mo

nth

s1

– 5

Yea

rs5

Yea

rs a

nd

O

ver

Dem

and

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)

and

bal

ance

s w

ith th

e C

entr

al B

ank

of T

urke

y2,

604

00

00

36,1

9638

,800

Due

from

ban

ks

11,6

342,

563

992

696

03,

712

19,5

98

Fin

anci

al a

sset

s w

here

fair

valu

e ch

ange

is

refle

cted

to in

com

e st

atem

ent

1,30

11,

442

1,36

21,

872

870

441

7,28

9M

oney

mar

ket p

lace

men

ts8,

096

00

00

08,

096

Fin

anci

al a

sset

s av

aila

ble

for

sale

27,7

4718

,918

37,6

6331

,822

10,3

162,

797

129,

264

Loan

s95

,936

41,9

0970

,641

89,8

1425

,617

3,00

832

6,92

5In

vest

men

ts h

eld

to m

atur

ity

14,9

6722

,478

7,49

19,

239

9,28

120

263

,657

Oth

er a

sset

s99

885

8916

811

24,2

9625

,647

To

tal a

sset

s16

3,28

487

,395

118,

239

133,

611

46,0

9570

,652

619,

276

Lia

bili

ties

Inte

rban

k de

posi

ts12

,613

2,04

671

916

00

2,99

318

,531

Oth

er d

epos

its24

7,47

862

,619

13,5

6758

992

56,8

9038

1,23

5M

oney

mar

ket t

akin

gs30

,518

3,94

02,

966

910

1637

,530

Mis

cella

neou

s pa

yabl

es

2,55

541

652

40

9,31

112

,564

Mar

keta

ble

secu

ritie

s is

sued

117

129

727

1,07

70

02,

049

Fun

ds p

rovi

ded

from

oth

er fi

nanc

ial i

nstit

utio

ns17

,963

22,9

7314

,743

3,95

83,

151

188

62,9

75O

ther

liab

ilitie

s1,

409

1,51

22,

748

2,67

616

395

,883

104,

391

To

tal l

iab

iliti

es31

2,65

293

,260

36,1

218,

553

3,40

616

5,28

361

9,27

6

On

bala

nce

shee

t int

eres

t sen

sitiv

ity g

ap-L

ong

2,26

012

,869

82,2

5912

5,22

842

,833

926

5,45

7O

n ba

lanc

e sh

eet i

nter

est s

ensi

tivity

gap

-Sho

rt-1

51,6

28-1

8,73

4-1

42-1

71-1

43-9

4,64

0-2

65,4

57O

ff ba

lanc

e sh

eet i

nter

est s

ensi

tivity

gap

-Lon

g8,

426

9,54

83,

590

1,53

874

035

624

,199

Off

bala

nce

shee

t int

eres

t sen

sitiv

ity g

ap-S

hort

-4,5

27-6

64-3

,153

-14,

149

-2,2

03-3

65-2

5,06

1

To

tal p

osi

tio

n-1

45,4

693,

018

82,5

5511

2,44

641

,227

-94,

640

-863

II-240

Tab

le 5

In

form

atio

n o

n C

urr

ency

Ris

k, a

s o

f D

ecem

ber

31,

201

0

(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

y11

,921

7,21

63

448

19,5

89D

ue fr

om b

anks

5,

341

7,80

065

756

13,9

62

Fin

anci

al a

sset

s w

here

fair

valu

e ch

ange

is r

efle

cted

to in

com

e st

atem

ent

217

870

41

1,09

2M

oney

mar

ket p

lace

men

ts0

00

00

Fin

anci

al a

sset

s av

aila

ble

for

sale

5,03

513

,048

00

18,0

82Lo

ans

35,9

9067

,499

526

2,01

510

6,03

0In

vest

. and

ass

ocia

tes,

sub

sidi

arie

s an

d jo

int v

entu

res

(bus

. par

tner

s)1,

962

365

053

2,37

9In

vest

men

ts h

eld

to m

atur

ity2,

447

9,34

00

311

,791

Der

ivat

ive

finan

cial

ass

ets

held

for

hedg

ing

010

00

10P

rope

rty

and

equi

pmen

t2

30

16

Inta

ngib

le a

sset

s0

10

01

Oth

er a

sset

s50

61,

019

319

11,

719

To

tal A

sset

s63

,422

107,

169

601

3,46

917

4,66

1

Lia

bili

ties

Inte

rban

k de

posi

ts3,

144

5,36

02

601

9,10

8F

orei

gn c

urre

ncy

depo

sits

42,9

7165

,596

813,

594

112,

242

Mon

ey m

arke

t tak

ings

731

6,93

00

07,

661

Fun

ds p

rovi

ded

from

oth

er fi

nanc

ial i

nstit

utio

ns21

,145

31,7

0069

8452

,999

Mar

keta

ble

secu

ritie

s is

sued

0

1,01

20

01,

012

Mis

cella

neou

s pa

yabl

es

1,12

475

323

376

2,27

6D

eriv

ativ

e fin

anci

al li

abili

ties

held

for

hedg

ing

192

00

92O

ther

liab

ilitie

s1,

884

1,98

06

358

4,22

8T

ota

l lia

bili

ties

70,9

9911

3,42

218

35,

013

189,

617

Net

On

Bal

ance

Sh

eet

Po

siti

on

-7,5

77-6

,253

418

-1,5

44-1

4,95

6N

et O

ff B

alan

ce S

heet

Pos

ition

8,24

26,

053

-673

1,58

915

,210

Fin

anci

al d

eriv

ativ

e as

sets

22,2

5850

,916

1,20

65,

009

79,3

90F

inan

cial

der

ivat

ive

liabi

litie

s14

,016

44,8

631,

879

3,42

164

,179

Non

-cas

h lo

ans

14,0

4029

,571

620

1,01

545

,246

II-241

Tab

le 6

S

avin

g D

epo

sits

, as

of

Dec

emb

er 3

1, 2

010

(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

5839

011

108

41,3

31,3

9230

,957

,245

895,

324

8,17

1,07

681

,355

,037

0-5

0T

ime

11

00

250

,114

116,

143

07,

475

173,

732

To

tal

5940

012

110

41,3

81,5

0631

,073

,388

895,

324

8,17

8,55

181

,528

,769

Dem

and

160

178

040

379

2,00

1,21

51,

946,

560

3,36

348

2,43

64,

433,

574

51-2

50T

ime

128

01

2112

7,33

388

,820

08,

362

224,

515

To

tal

172

187

041

400

2,12

8,54

82,

035,

380

3,36

349

0,79

84,

658,

089

Dem

and

647

753

115

81,

559

1,96

2,33

32,

551,

277

2,70

154

1,75

55,

058,

066

251-

1,00

0T

ime

9758

05

160

251,

915

146,

992

011

,145

410,

052

To

tal

744

811

116

31,

719

2,21

4,24

82,

698,

269

2,70

155

2,90

05,

468,

118

Dem

and

1,28

61,

533

223

73,

058

960,

709

1,06

3,92

11,

291

167,

930

2,19

3,85

11,

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Dem

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nd

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tal

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nce

Fu

nd

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reig

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anks

II-242

Tab

le 7

Nu

mb

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f D

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sit

Acc

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nts

, as

of

Dec

emb

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010

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ksS

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6

Sta

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Tür

kiye

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eti Z

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ye H

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Tür

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Pri

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Tek

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k A

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Ban

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Tab

le 8

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uri

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Tab

le 9

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ific

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n o

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emb

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Tür

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712

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kası

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308

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321

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835

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Tür

kiye

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anka

sı T

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.

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310

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945

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Ara

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Den

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he c

lass

ifica

tion

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tistic

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egio

nal U

nits

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hich

is d

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ed w

ith th

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o.20

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nd p

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azet

te d

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tem

ber

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002

and

No.

2488

4 is

us

ed in

this

tabl

e.

II-254

Tab

le 1

2 L

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s b

y G

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rap

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vin

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n C

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290

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61

108

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1

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ecau

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strib

utio

n of

the

loan

whi

ch is

ext

ende

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lle

r B

anka

sı A

.. t

o th

e pr

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ces

does

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st,

it is

sho

wn

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sep

arat

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e.**

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otal

Loa

ns =

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ns e

xcep

t "Lo

ans

unde

r fo

llow

-up"

and

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peci

fic p

rovi

sion

s"**

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wo

of th

e ba

nk's

tota

l loa

ns in

clud

e "L

oans

" sh

own

unde

r "F

inan

cial

ass

ets

whe

re fa

ir va

lue

chan

ge is

ref

lect

ed to

inco

me

stat

emen

t".

* T

he c

lass

ifica

tion

of "

Sta

tistic

al R

egio

nal U

nits

", w

hich

is d

efin

ed w

ith th

e D

ecre

e N

o.20

02/4

720

of C

ounc

il of

Min

iste

rs a

nd p

ublis

hed

in th

e O

ffici

al G

azet

te d

ated

Sep

tem

ber

22, 2

002

and

No.

2488

4 is

us

ed in

this

tabl

e.

II-257

Tab

le 1

3 C

lass

ific

atio

n o

f C

ash

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ans,

as

of

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emb

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1, 2

010

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D M

illio

n)

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tor

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290

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61

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290

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6330

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120

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60

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538

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4678

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65

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kiye

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huriy

eti Z

iraat

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kası

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.10

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00

00

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6337

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k B

anka

sı A

..

00

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00

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nd

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sura

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eik

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II-258

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II-273

Table 22 Representative Offices in Turkey, as of December, 31 2010

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

Axion Swiss Bank SA Türkiye Temsilcili i Switzerland Barbaros Bulvarı Morbasan Sokak Koza Merkezi B Blok Kat 5 Be ikta stanbul

212-274 38 72 212-274 49 94

Banca Infrastrutture Innovazione E Sviluppo S.P.A.

Italy Sümer Plaza Askeroca ı Caddesi Kat 18 No 1802 Elmada 34367 stanbul

212-249 23 74 212- 249 23 75

Banca Monte Dei Paschi di Siena S.P.A. Italy Askeroca ı Cad. Süzer Plaza No 9 Kat 25 Daire No 2505 34367 i li 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 90

Bank Julius Baer&Co.Ltd. Switzerland Maçka Cad. No 22/7 Vehbi Bey Apt. 34367 Te vikiyei li stanbul

212-368 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 74 47

212-251 43 85

Caja de Ahorros Y Pensiones de Barcelona (La Caixa)

Spain Büyükdere Cad. Yapı ve Kredi Plaza C Blok Kat 12 34330 Levent stanbul

212-279 95 02212-279 95 03

212-279 95 80

Citibank N.A. U.S.A. Süleyman Seba Cad. No 44 D B-1-S80 34357 Be iktastanbul

212-261 42 30 212-261 42 67

Commerzbank A.G. Germany Yapı 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 iktastanbul

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 Yıldırım O uz Göker Cad. Maya Plaza Kat 9 Akatlar 80630 Be ikta stanbul

212-351 86 00 212-351 87 00

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 ı 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 ı 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 20

HSBC Private Bank (Suisse) S.A. Switzerland Süleyman Seba Cad. Akaretler Yoku u BJK Plaza No 48 A Blok Daire 124 Akaretler Be ikta stanbul

212-327 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 ı Cad. Süzer Plaza Kat 18 No 1802 34367 Elmada stanbul

212-251 28 40 212-251 28 41

KBC Bank N.V. Belgium Bayraklı 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

Qinvest LLC Qatar Büyükdere Cad. No 127 Astoria Residence A Blok D 1901 Esentepe stanbul

212-215 20 66 212- 215 20 63

Rabobank International Netherlands Süleyman Seba Cad. Akaretler Sıraevleri No 23 34357 Be ikta stanbul

212-326 72 00 212-326 72 02

Standard Bank PLC United Kingdom Maslak Mah. Polaris Plaza Ahi Evren Cad. No 21 B i listanbul

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 58

State 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 Büyükdere Cad. Tekfen Tower No 209 Kat 17 4 Levent 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 Sarıyer 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

Union Bancaire Privée, UBP SA 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 21 212-270 03 11

212-282 33 72

Wells Fargo Bank N.A. U.S.A. Kuleleri Büyükdere Cad. Kule 2 Kat 9 34335 Levent stanbul

212-324 88 83212-324 88 88

212-324 88 39

Source: Banking Regulation and Supervision Agency

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Nispetiye CaddesiAkmerkez B3 Blok Kat 13

Etiler 34340 Istanbul - TurkeyTel: +90 212 282 09 73Fax: +90 212 282 09 46E-mail: [email protected]

www.tbb.org.tr

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Documents

BANKS IN TURKEY BANKS IN TURKEY 2010 2010 · 'Banks in Turkey 2010' provides general information about deposit banks and development and investment banks operating in Turkey as well