Turkiye Gdr Rgs Regulatory News (TIBD)

15 May 2007 08:54

Turkiye Is Bankasi15 May 2007 Isbank's Gross Profit for the First Quarter of 2007 is Net TRY 367 million and its Total Assets reached TRY 78.6 billion Isbank, whose total assets reached TRY 78.6 billion, has made TRY 694 milliongross and TRY 367 million net profit in the first quarter of 2007. Mr. Ersin Ozince, the Chief Executive Officer of Isbank, made the followingstatements regarding the performance of the Bank in the first quarter of 2007: "As is known, there has been a slowdown in the growth of the banking sector,especially due to the increase in interest rates, as a result of the events,which occurred in May 2006 and caused fluctuations in the markets. Theaforementioned stagnation, which limited the demand for loans and the growth ofbank assets in the second half of 2006, is expected to continue at least untilthe end of the polling process, keeping in mind the fact that Turkey has gonethrough an election climate in 2007. Within these circumstances, in line withthe prescheduled program, Isbank has continued its risk management approach,which provides profitable yet prudent growth, and its strategy of maintainingthe asset quality, in the first quarter of 2007, as in the second half of 2006. In the first quarter, Isbank's deposits, the main funding source, increased by6.8% reaching TRY 49.5 billion and the funding cost was kept at optimum level.Parallel to the change in the domestic investors' preferences, it is seen thatthe foreign currency deposits had a tendency to increase in the first quarter,compared to the previous periods. Furthermore, Isbank has obtained for the fisttime, a syndicated loan of USD 900 million, with a two-year term, in the firstquarter of the year, and continued its efforts to extend the term of fundingsources and to diversify them. In the first quarter of 2007, Isbank's total assets increased by 4.5%, reachingTRY 78.6 billion and the loan portfolio reached TRY 30.5 billion, continuing tobe the largest asset item with a share of nearly 40%. Relatively limited growthin the loan portfolio has been compensated by placements in alternative interestearning areas and the strategy to increase the share of loan portfolio in totalassets is continued. Looking at Isbank's profitability in the first quarter of the year, it is seenthat Isbank's interest income reached TRY 2.2 billion, increasing 37% comparedto the same period of the previous year, and the commission income was at TRY296 million, again above the amount in the same period of the previous year. Onthe other hand, total provisions set aside during the period were 22% less thanthe provisions set aside in the same period of the previous year and Isbank'snet profit for the first quarter was TRY 367 million, increasing 46% compared tothe first quarter of 2006." TURKIYE IS BANKASI A.S. UNCONSOLIDATED TRY THOUSANDBALANCE SHEET CURRENT PERIOD PREVIOUS PERIODASSETS ( 31/03/2007) ( 31/12/2006) TRY FX Total TRY FX TotalI. CASH AND BALANCES WITH THE CENTRAL BANK 2.904.465 2.709.950 5.614.415 3.055.130 2.540.976 5.596.106OF TURKEYII. FINANCIAL ASSETS AT FAIR VALUE THROUGH 262.597 28.087 290.684 293.429 45.413 338.842PROFIT AND LOSS (Net)2.1. Trading Financial Assets 205.416 23.507 228.923 254.766 44.926 299.6922.1.1. Government Debt Securities 202.006 14.512 216.518 251.377 35.387 286.7642.1.2. Securities Representing Share in 76 0 76 110 0 110Equity2.1.3. Other Marketable Securities 3.334 8.995 12.329 3.279 9.539 12.8182.2. Financial Assets Classified at Fair 0 0 0 0 0 0Value Through Profit and Loss2.2.1. Government Debt Securities 0 0 0 0 0 02.2.2. Securities Representing Share in 0 0 0 0 0 0Equity2.2.3. Other Marketable Securities 0 0 0 0 0 02.3. Trading Derivative Financial Assets 57.181 4.580 61.761 38.663 487 39.150III. BANKS AND OTHER FINANCIAL INSTITUTIONS 146.186 6.260.362 6.406.548 67.702 6.385.961 6.453.663IV. RECEIVABLES FROM INTERBANK MONEY MARKETS 1.000.972 0 1.000.972 0 0 04.1. Interbank Money Market Placements 1.000.972 0 1.000.972 0 0 04.2. Istanbul Stock Exchange Money Market 0 0 0 0 0 0Placements4.3. Receivables from Reverse Repurchase 0 0 0 0 0 0AgreementsV. FINANCIAL ASSETS AVAILABLE-FOR-SALE (Net) 15.182.414 12.083.204 27.265.618 14.151.427 11.868.318 26.019.7455.1. Securities Representing Share in Equity 13.441 0 13.441 13.441 0 13.4415.2. Government Debt Securities 15.168.973 11.951.845 27.120.818 14.137.986 11.012.050 25.150.0365.3. Other Marketable Securities 0 131.359 131.359 0 856.268 856.268VI. LOANS 22.489.194 8.053.349 30.542.543 22.352.733 7.465.583 29.818.3166.1. Loans 22.489.194 8.053.349 30.542.543 22.352.733 7.465.583 29.818.3166.2. Loans Under Follow-up 1.261.159 3.401 1.264.560 1.161.247 2.968 1.164.2156.3. Specific Provisions (-) 1.261.159 3.401 1.264.560 1.161.247 2.968 1.164.215VII. FACTORING RECEIVABLES 0 0 0 0 0 0VIII. INVESTMENTS HELD-TO-MATURITY (Net) 0 0 0 0 0 08.1. Government Debt Securities 0 0 0 0 0 08.2. Other Marketable Securities 0 0 0 0 0 0IX. INVESTMENTS AND ASSOCIATES (Net) 785.129 0 785.129 785.129 0 785.1299.1. Investments and Associates Consolidated 0 0 0 0 0 0under Equity Method9.2. Unconsolidated Investments and 785.129 0 785.129 785.129 0 785.129Associates9.2.1. Financial Investments and Associates 48.895 0 48.895 48.895 0 48.8959.2.2. Non-Financial Investments and 736.234 0 736.234 736.234 0 736.234AssociatesX. SUBSIDIARIES (Net) 4.197.425 45.572 4.242.997 3.864.385 45.493 3.909.87810.1. Unconsolidated Financial Subsidiaries 2.089.368 45.572 2.134.940 1.834.724 45.493 1.880.21710.2. Unconsolidated Non-Financial 2.108.057 0 2.108.057 2.029.661 0 2.029.661SubsidiariesXI. JOINTLY CONTROLLED ASSOCIATES (Net) 0 0 0 0 0 011.1. Jointly Controlled Associates 0 0 0 0 0 0Consolidated under Equity Method11.2. Unconsolidated Jointly Controlled 0 0 0 0 0 0Associates11.2.1. Financial Jointly Controlled 0 0 0 0 0 0Associates11.2.2. Non-Financial Jointly Controlled 0 0 0 0 0 0AssociatesXII. LEASE RECEIVABLES (Net) 0 0 0 0 0 012.1. Financial Lease Receivables 0 0 0 0 0 012.2. Operational Lease Receivables 0 0 0 0 0 012.3. Other 0 0 0 0 0 012.4. Unearned Income ( - ) 0 0 0 0 0 0XIII. DERIVATIVE FINANCIAL ASSETS FOR 0 0 0 0 0 0HEDGING13.1. Fair Value Hedging 0 0 0 0 0 013.2. Cash Flow Hedging 0 0 0 0 0 013.3. Net Foreign Investment Hedging 0 0 0 0 0 0XIV. PROPERTY AND EQUIPMENT (Net) 1.756.125 3.640 1.759.765 1.762.634 3.703 1.766.337XV. INTANGIBLE ASSETS (Net) 21.621 0 21.621 15.328 0 15.32815.1. Goodwill 0 0 0 0 0 015.2. Other 21.621 0 21.621 15.328 0 15.328XVI. TAX ASSETS 273.079 0 273.079 263.707 0 263.70716.1. Current Tax Assets 0 0 0 0 0 016.2. Deferred Tax Assets 273.079 0 273.079 263.707 0 263.707XVII. ASSETS HELD FOR SALE (Net) 8.532 0 8.532 14.843 0 14.843XIX. OTHER ASSETS 279.619 79.198 358.817 173.018 49.846 222.864TOTAL ASSETS 49.307.358 29.263.362 78.570.720 46.799.465 28.405.293 75.204.758 TURKIYE IS BANKASI A.S. UNCONSOLIDATED BALANCE SHEET TRY THOUSAND CURRENT PERIOD PREVIOUS PERIODLIABILITIES ( 31/03/2007) ( 31/12/2006) TRY FX Total TRY FX TotalI. DEPOSITS 29.835.353 19.707.417 49.542.770 28.288.192 18.111.163 46.399.355II. TRADING DERIVATIVE FINANCIAL LIABILITIES 1.240 28.849 30.089 151 45.018 45.169III. FUNDS BORROWED 3.245.617 6.921.023 10.166.640 2.952.181 7.577.774 10.529.955IV. INTERBANK MONEY MARKET PAYABLES 2.262.347 2.620.674 4.883.021 1.965.086 3.399.167 5.364.2534.1. Interbank Money Market Payables 0 0 0 0 0 04.2. Istanbul Stock Exchange Money Market Payables 0 0 0 0 0 04.3. Funds Provided Under Repurchase Agreements 2.262.347 2.620.674 4.883.021 1.965.086 3.399.167 5.364.253V. MARKETABLE SECURITIES ISSUED (Net) 0 0 0 0 0 05.1. Bills 0 0 0 0 0 05.2. Asset-backed Securities 0 0 0 0 0 05.3. Bonds 0 0 0 0 0 0VI. FUNDS 0 0 0 0 0 0VII. MISCELLANEOUS PAYABLES 1.511.168 27.893 1.539.061 1.033.264 124.037 1.157.301VIII. OTHER EXTERNAL RESOURCES 300.448 283.184 583.632 46.490 98.484 144.974IX. FACTORING PAYABLES 0 0 0 0 0 0X. LEASE PAYABLES (Net) 0 71.016 71.016 0 72.311 72.31110.1. Financial Lease Payables 0 79.096 79.096 0 80.328 80.32810.2. Operational Lease Payables 0 0 0 0 0 010.3. Other 0 0 0 0 0 010.4. Deferred Financial Lease Expenses ( - ) 0 8.080 8.080 0 8.017 8.017XI. DERIVATIVE FINANCIAL LIABILITIES FOR HEDGING 0 0 0 0 0 011.1. Fair Value Hedging 0 0 0 0 0 011.2. Cash Flow Hedging 0 0 0 0 0 011.3. Net Foreign Investment Hedging 0 0 0 0 0 0XII. PROVISIONS 1.769.391 103.020 1.872.411 1.735.826 107.321 1.843.14712.1. General Provisions 221.973 430 222.403 216.550 458 217.00812.2. Provision for Restructuring 0 0 0 0 0 012.3. Reserves for Employee Benefits 135.455 0 135.455 124.654 0 124.65412.4. Insurance Technical Reserves (Net) 0 0 0 0 0 012.5. Other Provisions 1.411.963 102.590 1.514.553 1.394.622 106.863 1.501.485XII. TAX LIABILITIES 216.124 176 216.300 237.974 161 238.13513.1. Current Tax Liabilities 216.124 176 216.300 237.974 161 238.13513.2. Deferred Tax Liabilities 0 0 0 0 0 0XIV. LIABILITIES HELD FOR SALE 0 0 0 0 0 0XV. SUBORDINATED LOANS 0 0 0 0 0 0XVI. SHAREHOLDERS' EQUITY 9.647.855 17.925 9.665.780 9.376.285 33.873 9.410.15816.1. Paid-in Capital 2.756.585 0 2.756.585 2.756.585 0 2.756.58516.2. Capital Reserves 3.666.048 17.925 3.683.973 3.284.465 33.873 3.318.33816.2.1. Share premium 3.694 0 3.694 3.694 0 3.69416.2.2. Share Cancellation Profits 0 0 0 0 0 016.2.3. Marketable Securities Value Increase Fund 1.684.863 17.925 1.702.788 1.303.280 33.873 1.337.15316.2.4. Revaluation Surplus on Tangible Fixed Assets 0 0 0 0 0 016.2.5. Revaluation Surplus on Intangible Fixed 0 0 0 0 0 0Assets16.2.6. Bonus Shares from Investments and Associates, 0 0 0 0 0 0Subsidiaries and Jointly Controlled Associates16.2.7. Hedge Funds (Effective Portion) 0 0 0 0 0 016.2.8. Revaluation Surplus on Assets Held for 0 0 0 0 0 0Trading Purposes16.2.9. Other Capital Reserves 1.977.491 0 1.977.491 1.977.491 0 1.977.49116.3. Profit Reserves 2.857.840 0 2.857.840 1.844.196 0 1.844.19616.3.1. Legal Reserves 1.012.375 0 1.012.375 923.041 0 923.04116.3.2. Status Reserves 0 0 0 0 0 016.3.3. Extraordinary Reserves 1.845.621 0 1.845.621 921.953 0 921.95316.3.4. Other Profit Reserves -156 0 -156 -798 0 -79816.4. Profit or Loss 367.382 0 367.382 1.491.039 0 1.491.03916.4.1. Prior Years' Profit/Loss 0 0 0 381.821 0 381.82116.4.2. Current Year Profit/Loss 367.382 0 367.382 1.109.218 0 1.109.218TOTAL LIABILITIES 48.789.543 29.781.177 78.570.720 45.635.449 29.569.309 75.204.758 TURKIYE IS BANKASI A.S. INCOME STATEMENT TRY THOUSANDINCOME STATEMENT CURRENT PERIOD PREVIOUS PERIOD ( 31/03/2007) ( 31/03/2006)I. INTEREST INCOME 2.246.569 1.639.5311.1. Interest Income on Loans 1.215.516 878.8601.2. Interest Received from Reserve Deposits 67.420 37.1741.3. Interest Received from Banks 64.322 23.6441.4. Interest Received from Money Market Transactions 2.188 9.5961.5. Interest Received from Marketable Securities Portfolio 862.643 664.3681.5.1. Trading Financial Assets 15.007 27.5321.5.2. Financial Assets at Fair Value Through Profit and Loss 0 01.5.3. Available-for-sale Financial Assets 847.427 624.0121.5.4. Held to Maturity Investments 209 12.8241.6. Financial Lease Income 0 01.7. Other Interest Income 34.480 25.889II. INTEREST EXPENSE 1.566.360 1.006.4052.1. Interest on Deposits 1.224.932 796.1882.2. Interest on Funds Borrowed 213.148 147.9772.3. Interest on Money Market Transactions 125.108 56.7252.4. Interest on Securities Issued 0 02.5. Other Interest Expense 3.172 5.515III. NET INTEREST INCOME (I - II) 680.209 633.126IV. NET FEES AND COMMISSIONS INCOME 265.307 267.0284.1. Fees and Commissions Received 295.853 288.7704.1.1. Cash Loans 27.516 30.4854.1.2. Non-cash Loans 20.610 19.4764.1.3. Other 247.727 238.8094.2. Fees and Commissions Paid 30.546 21.7424.2.1. Cash Loans 6.487 3.9074.2.2. Non-cash Loans 7 24.2.3. Other 24.052 17.833V. DIVIDEND INCOME 21.194 14.522VI. TRADING INCOME (NET) 80.752 -6.7706.1. Profit/Losses on Trading Account Securities 112.792 1.4666.2. Foreign Exchange Gains/Losses -32.040 -8.236VII. OTHER OPERATING INCOME 128.388 204.946VIII. TOTAL OPERATING INCOME (III+IV+V+VI+VII) 1.175.850 1.112.852IX. PROVISION FOR LOAN LOSSES OR OTHER RECEIVABLES (-) 249.264 320.543X. OTHER OPERATING EXPENSES (-) 481.952 383.516XI. NET OPERATING INCOME (VIII-IX-X) 444.634 408.793XII. EXCESS AMOUNT OF INCOME AFTER MERGER 0 0XIII. PROFIT/LOSSES FROM ASSOCIATES AND SUBSIDIARIES CONSOLIDATED UNDER EQUITY 0 0METHODXIV. NET MONETARY POSITION GAIN/LOSS 0 0XV. INCOME BEFORE TAXES (XI+XII+XIII+XIV) 444.634 408.793XVI. PROVISION FOR TAXES ON INCOME (+/-) 77.252 157.17316.1. Current Provision for Tax 92.040 136.30716.2. Deferred Provision for Tax -14.788 20.866XVII. NET OPERATING INCOME/EXPENSE AFTER TAXES (XV +/- XVI) 367.382 251.62017.1. Ceased Operations 0 017.2. Other 367.382 251.620XVIII. NET PERIOD PROFIT/LOSS (XVIII+XIX) 367.382 251.620Earnings/Losses per Share (in full TRY) 0,005330652 0,003650964 EXPLANATIONS RELATED TO ACCOUNTING POLICIES PRESENTATION OF FINANCIAL STATEMENTS The unconsolidated year-end financial statements and related disclosures andfootnotes in this report are prepared in accordance with the Turkish AccountingStandards and the Regulation on Accounting Practice for Banks and Safeguardingof Documents. The accounting policies and the valuation principles used in the preparation ofthe financial statements are presented in detail below: The accounting principles and valuation methods used in the preparation of31.03.2006 financial statements, which are presented in comparison with the31.03.2007 financial statements, are revised in compliance with the TurkishAccounting Standards and Turkish Financial Reporting Standards as per thecommunique no.1 "Frame for Preparation and Presentation of Financial Statements"of the Turkish Accounting Standards Board published on the Official Gazetteno.25702 dated 16 January 2005, as summarized below: 31.03.2006 Income Statement31.03.2006 net period profit reported prior to TAS adjustments 408,315Adjustment for the term sales of assets (70,757)Adjustment for profit from fixed assets and participations' sales 1,419Adjustment for accounting of foreign participations (999)Adjustment for short-term employee benefits (2,379)Adjustment for the actual and technical deficit of Isbank Pension Fund 21,719Deferred tax effects of adjustments (105,698)31.03.2006 net period profit reported after TAS adjustments 251,620 CAPITAL ADEQUACY STANDARD RATIO The Bank's capital adequacy ratio is 21.48 %. This ratio is considerably abovethe 8% minimum level stipulated by the relevant legislation. The capital adequacy standard ratio is calculated by risk weighting ofrisk-weighted assets and non-cash loans in accordance with the relevantlegislation, and by adding to the risk-weighted assets the value subject to riskdetermined by use of the Standard Method. Information related to capital adequacy ratio: Risk Weights Bank Only 0% 20% 50% 100%Amount Subject to Credit Risk Balance Sheet Items (Net) 8,309,981 6,202,592 13,930,322 22,599,499Cash 333,204 417 0 0Securities in Redemption 0 0 0 0The Central Bank of Turkey 3,321,009 0 0 0Domestic and Foreign Banks, Foreign Head 0 6,135,045 0 212,194Offices and BranchesInterbank Money Market Placements 1,000,000 0 0 0Receivables from Reverse Repo 0 0 0 0TransactionsReserve Deposits 1,892,289 0 0 0Loans 1,130,774 11,150 13,593,012 14,614,745Loans under Follow-Up (Net) 0 0 0 0Lease Receivables 0 0 0 0Marketable Securities Available-for-Sale 0 0 0 0Marketable Securities Held to Maturity 0 0 0 0Receivables from Forward Sale of Assets 0 0 0 743Miscellaneous Receivables 6 0 0 112,745Accrued Interest and Income 83,868 55,980 337,310 860,340Investments and Associates, Subsidiaries 0 0 0 4,925,237and Jointly-controlled AssociatesTangible Fixed Assets 0 0 0 1,737,717Other Assets 548,831 0 0 135,778Off Balance Sheet Items 47,047 2,088,732 506,439 5,287,210Non-cash Loans and Commitments 47,047 1,910,737 506,439 5,272,646Derivative Financial Instruments 0 177,995 0 14,564Non- Risk-Weighted Accounts 0 0 0 0Total Risk Weighted Assets 8,357,028 8,291,324 14,436,761 27,886,709 Summary information about the bank only capital adequacy ratio: Current Period Prior PeriodAmount Subject to Credit Risk (ASCR) 36,763,354 35,970,835Amount Subject to Market Risk (ASMR) 4,438,888 861,700Amount Subject to Operational Risk (ASOR) - -Shareholders' Equity 8,849,058 8,793,538Shareholders' Equity /(ASCR+ASMR+ASOR)*100 21.48 23.87 ASCR: Amount Subject to Credit RiskASMR:Amount Subject to Market RiskASOR: Amount Subject to Operational Risk(*) Operational risk will be taken into consideration in the calculation of the capital adequacy ratio after 30.06.2007. Information about the shareholders' equity items: Current Period Prior Period (31.03.2007) (31.12.2006)CORE CAPITALPaid-In Capital 2,756,585 2,756,585Nominal Capital 2,756,585 2,756,585Capital Commitments (-) 0 0Capital Reserves from Inflation Adjustments to Paid-in Capital 1,977,491 1,977,491Share Premium 3,694 3,694Share Cancellation Profits 0 0Legal Reserves 1,012,375 923,041I. Legal Reserve (Turkish Commercial Code 466/1) 934,240 878,927II. Legal Reserve (Turkish Commercial Code 466/2) 78,135 44,114 Reserves Allocated due to Special Laws 0 0Status Reserves 0 0Other Profit Reserves -156 -30,025Extraordinary Reserves 1,845,621 921,953Reserves Allocated by the General Assembly 1,845,621 921,953Retained Earnings 0 0Accumulated Loss 0 0Foreign Currency Share Capital Exchange Difference 0 0Reserves from Inflation Adjustments to Legal, Status and Extraordinary Reserves 0 0Profit 367,382 1,491,039Current Period Profit 367,382 1,109,218Prior Periods' Profit 0 381,821Provision for Possible Losses (upto 25% of Core Capital) 130,000 120,000Profit on Sale of Associates, Subsidiaries and Real Estates to be Transferred to 0 0Share CapitalPrimary Subordinated Debt (upto 15% of core Capital) 0 0Loss Excess of Reserves (-) 0 0Current Period Loss 0 0Prior Periods' Loss 0 0Leasehold Improvements (-) 30,581 32,116Prepaid Expenses (-) 77,501 51,787Intangible Fixed Assets (-) 21,621 15,328Deferred Tax Asset excess of 10% of core capital (-) 0 0Limit Excesses as per Paragraph 3 of Article 56 of the Banking Law (-) 0 0Total Core Capital (*) 8,092,992 8,163,778SUPPLEMENTARY CAPITALGeneral Reserves 222,403 217,00845% of Revaluation Surplus Movables 0 045% of Revaluation Surplus on Immovables 0 0Bonus Shares of Associates, Subsidiaries and Jointly-controlled Associates 0 0Primary Subordinated Debt Excluding the Portion included in Core Capital 0 0Secondary Subordinated Debt 0 045% of Securities Value Increase Fund 766,255 614,871Associates and Subsidiaries 817,601 680,852Investments Available for Sale -51,346 -65,981Inflation Adjustments to Capital Reserves, Profit Reserves and Prior Periods' Profit 0 0/Loss (excluding the inflation adjustments to legal reserves, status reserves andextraordinary reserves)Total Supplementary Capital 988,658 831,879 TIER III CAPITAL 0 0CAPITAL 9,081,650 8,995,657DEDUCTIONS FROM THE CAPITAL 232,592 202,119Unconsolidated investments in entities (domestic/foreign) operating in Banking and 102,889 102,888Financial Sectors at 10% or moreInvestments in entities (domestic/foreign) operating in Banking and Financial Sectors 0 0at less than 10% exceeding 10% or more of the total core and supplementary capitalsLoans to banks, financial institutions (domestic/foreign) of qualified shareholders 0 0in the form of secondary subordinated debt and debt instruments purchased from suchparties qualified as primary or secondary subordinated debtLoans granted against the articles 50 and 51 of the Banking Law 0 0Net book values of immovables exceeding 50% of the capital and of assets acquired 0 0against overdue receivables and held for sale as per article 57 of the Banking Lawbut retained more than five yearsOthers 0 0TOTAL SHAREHOLDERS' EQUITY 8,849,058 8,793,538 (*) Leasehold improvements, prepaid expenses and intangible fixed assets shownunder the core capital, are not included in the total of core capital in accordance with the related regulation, but shown under thedeductions from the capital. MARKET RISK: Amount(I) Capital to be Employed for General Market Risk - Standard Method 303,641(II) Capital to be Employed for Specific Risk - Standard Method 9,237(III) Capital to be Employed for Currency Risk - Standard Method 30,000(IV) Capital to be Employed for Commodity Risk - Standard Method(V) Capital to be Employed for Clearing Risk - Standard Method(VI) Capital to be Employed for Market Risk of Options - Standard Method 12,233(VII) Capital to be Employed for Market Risks of Banks Applying Risk Measurement Models(VIII) Total Capital to be Employed for Market Risk (I+II+III+IV+V+VI) 355,111(IX) Amount Subject to Market Risk (12.5 x VIII) or (12.5 x VII) 4,438,888 Information on currency risk: EURO USD Yen Other FX TotalCurrent PeriodAssets Cash (Cash in Vault, Foreign 2,656,470 45,095 184 8,201 2,709,950 Currency, Money in Transit, Cheques Purchased) and Balances with the Central Bank of Turkey Due from Banks and Other Financial 1,016,847 4,431,667 188 811,660 6,260,362Institutions Financial Assets at Fair Value 2,604 15,865 0 5,038 23,507 through Profit/Loss Interbank Money Market Placements 0 0 0 0 0 Investment Securities Available for 1,598,188 10,485,016 0 0 12,083,204Sale Loans (1) 2,464,655 6,287,451 1,343 43,125 8,796,574 Investments in Associates, 45,572 0 0 0 45,572Subsidiaries and Joint-Ventyres Investment Securities Held to 0 0 0 0 0Maturity Derivative Financial Assets Held for 0 0 0 0 0Risk Management Tangible Assets 0 73 0 230 303 Intangible Assets 0 0 0 0 0 Other Assets 564 10,348 26 1,296 12,234Total Assets 7,784,900 21,275,515 1,741 869,550 29,931,706Liabilities Banks Deposits 197,458 927,646 7 22,311 1,147,422 Foreign Currency Deposits 6,914,335 10,767,927 8,485 869,248 18,559,995 Interbank Funds 615,826 2,004,848 0 0 2,620,674 Funds Provided from Other Financial 21,402 6,890,239 408 8,974 6,921,023Institutions Marketable Securities Issued 0 0 0 0 0 Miscellaneous Payables 2,118 23,773 28 1,974 27,893 Derivative Financial Liabilities 0 0 0 0 0Held for Risk Management Other Liabilities 115,545 335,276 854 12,407 464,082Total Liabilities 7,866,684 20,949,709 9,782 914,914 29,741,089 Net On Balance Sheet Position -81,784 325,806 -8,041 -45,364 190,617Net Off Balance Sheet Position -59,981 -867,820 0 48,944 -878,857 Financial Derivative Assets 199,355 1,305,733 16,440 64,442 1,585,970 Financial Derivative Liabilities 259,336 2,173,553 16,440 15,498 2,464,827 Non-Cash Loans 1,331,962 3,278,779 50,889 74,668 4,736,298 Previous Period Total Assets 8,287,006 20,080,043 3,843 902,197 29,273,089 Total Liabilities 8,157,498 20,420,839 14,155 900,797 29,493,289 Net On Balance Sheet Position 129,508 -340,796 -10,312 1,400 -220,200 Net Off Balance Sheet Position -343,866 41,978 0 28,018 -273,870 Derivative Assets 974,756 1,717,987 0 40,309 2,733,052 Derivative Liabilities 1,318,622 1,676,009 0 12,291 3,006,922 Non-Cash Loans 1,306,026 3,308,908 56,668 66,868 4,738,470 (1) Includes foreign currency indexed assets, which are followed under TRYaccounts. Presentation of assets and liabilities according to their remaining maturities: Demand Up to 1 1-3 3-6 6-12 1 Year Not Total Month Classified Months Months Months and Longer (1)Current Period (31.12.2006)AssetsCash (Cash in Vault, Foreign 5,614,415 0 0 0 0 0 0 5,614,415Currency, Money in Transit,Cheques Purchased) andBalances with the Central Bankof TurkeyDue from Banks and Other 264,817 3,872,078 287,201 362,867 59,533 1,560,052 0 6,406,548Financial InstitutionsFinancial Assets at Fair Value 76 17,756 27,214 37,480 48,958 159,200 0 290,684through Profit/LossInterbank Money Market 0 1,000,972 0 0 0 0 0 1,000,972PlacementsInvestment Securities 97,042 1,577,076 3,296,131 1,911,082 1,563,364 18,820,923 0 27,265,618Available-for-SaleLoans 0 4,292,732 2,254,359 1,968,161 4,804,298 17,222,993 0 30,542,543Investment Securities 0 0 0 0 0 0 0 0Held-to-MaturityOther Assets 9,029 205,465 17,119 809 413 42,323 7,174,782 7,449,940Total Assets 5,985,379 10,966,079 5,882,024 4,280,399 6,476,566 37,805,491 7,174,782 78,570,720 LiabilitiesBanks Deposits 201,377 2,450,599 69,784 1,243 6,597 0 0 2,729,600Other Deposits 7,127,013 32,103,692 4,720,759 1,610,548 1,178,023 73,135 0 46,813,170Funds Provided from Other 0 159,221 668,023 2,029,600 854,908 6,454,888 0 10,166,640Financial InstitutionsInterbank Funds Borrowed 0 2,262,263 543,419 546,224 1,167,422 363,693 0 4,883,021Marketable Securities Issued 0 0 0 0 0 0 0 0Miscellaneous Payables 662,855 858,315 1,479 1,739 0 14,673 0 1,539,061Other Liabilities 0 437,525 15,621 19,153 17,881 48,322 11,900,726 12,439,228Total Liabilities 7,991,245 38,271,615 6,019,085 4,208,507 3,224,831 6,954,711 11,900,726 78,570,720Liquidity Gap -2,005,866 -27,305,536 -137,061 71,892 3,251,735 30,850,780 -4,725,944 0 Prior Period (31.12.2006) Total Assets 5,988,473 8,772,084 3,744,782 7,809,528 7,000,024 35,076,863 6,813,004 75,204,758Total Liabilities 8,406,085 32,833,894 9,244,035 3,662,381 4,496,372 5,259,245 11,302,746 75,204,758Liquidity Gap -2,417,612 -24,061,810 -5,499,253 4,147,147 2,503,652 29,817,618 -4,489,742 0 (1) Asset items, such as Fixed Assets, Subsidiaries and Associates, OfficeSupply Inventory, Prepaid Expenses and Non-Performing Loans, which are requiredfor banking operations and which can not be converted to cash in short-term, andother liabilities such as Provisions which are not considered as payables andshareholders' equity, are shown in 'Not Classified' column. Information on consumer loans, retail credit cards, personnel loans andpersonnel credit cards: Short-Term Medium and Interest and Total Long-Term Income AccrualsConsumer Loans-LC 458,783 5,432,817 371,248 6,262,848Real Estate Loans 10,417 2,699,885 251,646 2,961,948Automotive Loans 25,773 897,976 68,451 992,200General Purpose Consumer Loans 422,473 1,833,833 51,086 2,307,392Other Consumer Loans 120 1,123 65 1,308Consumer Loans - FC Indexed 1,299 103,395 15,124 119,818Real Estate Loans 686 92,578 13,502 106,766Automotive Loans 613 10,814 1,621 13,048General Purpose Consumer Loans 0 3 1 4Other Consumer Loans Indexed to FC 0 0 0 0Consumer Loans - FC 0 0 0 0Real Estate Loans 0 0 0 0Automotive Loans 0 0 0 0General Purpose Consumer Loans 0 0 0 0Other FC Consumer Loans 0 0 0 0Retail Credit Cards-LC 2,465,633 87,681 29,764 2,583,078 Installment Based 758,771 87,681 0 846,452 Other Credit Cards 1,706,862 0 29,764 1,736,626Retail Credit Cards-FC 0 0 0 0 Installment Based 0 0 0 0 Other Credit Cards 0 0 0 0Personnel Loans-LC 20,361 111,623 5,345 137,329Real Estate Loans 117 37,665 2,999 40,781Automotive Loans 139 8,670 652 9,461General Purpose Consumer Loans 19,591 65,268 1,692 86,551Other Consumer Loans 514 20 2 536Personnel Loans- FC Indexed 0 1,270 18 1,288Real Estate Loans 0 1,202 6 1,208Automotive Loans 0 0 0 0General Purpose Consumer Loans 0 68 12 80Other Consumer Loans 0 0 0 0Personnel Loans-FC 0 0 0 0Real Estate Loans 0 0 0 0Automotive Loans 0 0 0 0General Purpose Consumer Loans 0 0 0 0Other Consumer Loans 0 0 0 0Personnel Credit Cards-LC 43,886 0 134 44,020 Installment Based 14,479 0 0 14,479 Other Credit Cards 29,407 0 134 29,541Personnel Credit Cards-FC 0 0 0 0 Installment Based 0 0 0 0 Other Credit Cards 0 0 0 0Overdraft Accounts - TRY (real 258,765 0 9,130 267,895persons)Overdraft Accounts - FC (real 0 0 0 0persons)Total 3,248,727 5,736,786 430,763 9,416,276 Installment based commercial loans and corporate credit cards: Short-Term Medium and Long Interest and Total Term Income AccrualsInstallment Based Commercial 578,083 5,945,191 439,914 6,963,188Loans-LCReal Estate Loans 4,477 363,908 19,800 388,185Automotive Loans 100,489 2,021,049 140,934 2,262,472General Purpose Commercial Loans 412,877 3,151,803 193,213 3,757,893Other Commercial Loans 60,240 408,431 85,967 554,638Installment Based Commercial Loans- 10,346 195,884 21,074 227,304FC IndexedReal Estate Loans 394 31,117 4,185 35,696Automotive Loans 7,154 123,041 13,877 144,072General Purpose Commercial Loans 2,798 41,726 3,012 47,536Other Commercial Loans 0 0 0 0Installment Based Commercial 0 0 0 0Loans-FCReal Estate Loans 0 0 0 0Automotive Loans 0 0 0 0General Purpose Commercial Loans 0 0 0 0Other Commercial Loans 0 0 0 0Corporate Credit Cards-LC 146,956 0 147 147,103 Installment Based 0 0 0 0 Other Credit Cards 146,956 0 147 147,103Corporate Credit Cards-FC 0 0 0 0 Installment Based 0 0 0 0 Other Credit Cards 0 0 0 0Overdraft Accounts - TRY 654,634 0 24,906 679,540(corporate)Overdraft Accounts - FC (corporate) 0 0 0 0Total 1,390,019 6,141,075 486,041 8,017,135 Specific provisions provided against loans: Specific Provisions Current Period Previous Period Loans and Receivables with Limited Collectibility 137,579 117,524Loans and Receivables with Doubtful Collectibility 180,374 156,695Uncollectible Loans and Receivables 946,607 889,996Total 1,264,560 1,164,215 The changes in total loans under follow-up: Group III Group IV Group V Loans and Receivables Loans and Uncollectible Loans Receivables with and Receivables with Limited Doubtful Collectibility CollectibilityPrevious Period End Balance 117,524 156,695 889,996Additions (+) 162,307 2,823 11,136Transfers from Other Categories of 0 109,185 69,145Loans Under Follow-Up (+)Transfers to Other Categories of Loans 109,185 69,145 0Under Follow-Up (-)Collections (-) 33,042 19,048 22,852Write-Offs (-) 25 136 818Current Period End Balance 137,579 180,374 946,607Specific Provisions (-) 137,579 180,374 946,607Net Balance on Balance Sheet 0 0 0 Provision expenses due to Bank's loans and other receivables: Current Period Previous PeriodSpecific Provisions for Loans and Other Receivables 157,605 77,461From Group III Loans and Receivables 140,292 73,643From Group IV Loans and Receivables 2,208 1,065From Group V Loans and Receivables 15,105 2,753General Provision Expenses 5,423 1,081Optional Provisions Allocated for Probable Risks 10,000 0Marketable Securities Impairment Expense 62,357 20,406Financial Assets at Fair Value through Profit and Loss 1 68Financial Assests Available-for-sale 62,356 20,338Impairment Losses on Participations 0 149,713In vestment and Associates 0 40,261Subsidiaries 0 109,452Jointly Controlled Associates 0 0Securities Held-to-Maturity 0 0Others 13,879 71,882Total 249,264 320,543 Other operating expenses: Current Period Prior PeriodPersonnel Expenses 227,333 188,670Reserve for Employee Termination Benefits 4,543 398Bank Pension Fund Deficit Provisions 0 27,174Impairment Losses on Tangible Fixed Assets 0 0Depreciation Expenses of Tangible Fixed Assets 27,372 23,716Impairment Losses on Intangible Fixed Assets 0 0Depreciation Expenses of Intangible Fixed Assets 1,701 0Impairment Losses on Assets to be Disposed 0 0Depreciation Expenses of Assets to be Disposed 2,991 0Impairment Losses on Assets Held for Sale 0 0Other Operating Expenses 144,039 113,785Operational Lease Expenses 13,037 10,393Repair and Maintenance Expenses 2,107 1,724Advertisement Expenses 45,925 34,371Other Expenses 82,970 67,297Loss on Sales of Assets 497 14,165Others 73,476 15,608Total 481,952 383,516 This information is provided by RNS The company news service from the London Stock Exchange