Turkiye Gdr Rgs Regulatory News (TIBD)

19 Feb 2008 10:49

Turkiye Is Bankasi19 February 2008 53% Increase in Isbank's Profit With its asset size reaching TRY 80.2 billion at the end of 2007, Isbank's net profit for the year is realized at TRY 1.7 billion. The amount of reported net profit indicates 53% year-on-year increase. Isbank has increased its gross profit by 47% to TRY 3.7 billion and its netprofit by 53% up to TRY 1.7 billion as a result of its effective asset andliability management policies regarding mainly funding and placements while itsasset size reached over TRY 80 billion in the year 2007. In accordance with its strategies to have a sustainable deposit base and tocreate a profit-oriented and balanced growth, Isbank increased its interestincome on loans by 25%, while interest expense on deposits grew by only 17%compared to the previous year. Isbank's TRY Savings Deposits' growth of 33% andthe remarkable increase of TRY retail deposits' share in the total deposit base,have not only positively affected the cost structure, but also contributed tocreate a stable funding base in local currency in 2007. Isbank's prudent and selective growth policy conducted during the first ninemonths of 2007 has continued to a great extent in the last quarter of the year,as well. In this context, by considering the developments in economy and themarkets, Isbank increased the share of retail loans in the loan portfolio, andthe share of total loans in total assets in the year 2007. Parallel to the revenue generation capacity, growing without any considerablepressure on costs, Isbank's efficiency ratio, which is shown with the ratio ofthe operating expenses to the operating income, improved and resulted in asuccessful 37% in 2007. Isbank opened 50 new domestic branches, having its totalnumber of branches reached 939 after examining the market dynamics anddevelopments in Turkey. The dimension of negativities caused by the crisis, which first occurred in theU.S. mortgage market and later spread over almost all developed markets, and theemergence of various distinct expectations and valuations regarding the possibleeffects of this crisis, have increased vagueness in terms of future expectationsand caused to adopt a more prudent approach in financial markets in 2007.Therefore, Isbank maintained its policy of reinforcing its shareholders' equity,along with free provisions, considering the domestic and global economicdevelopments, market dynamics, regulations, various risks and opportunitiesrelated to the banking sector in 2007 and made use of major part of its grossprofit in this way. Isbank continues successfully to implement the structural transformationsproject, which will enable the bank to get closer to its customers and to servethem better, in addition to keep pace with the international competition and tostrengthen its leading position in the sector. While increasing its customersatisfaction, with its high competitive power, provided by the structuraltransformation project, with its sound financial structure, effective positionin the market and its stable attitude, Isbank is to continue its mission to bethe driving force of the domestic economy and the national capital. TRY THOUSAND TURKIYE IS BANKASI A.S. UNCONSOLIDATED BALANCE SHEET CURRENT PERIOD PRIOR PERIOD ASSETS (31/12/2007) (31/12/2006) TRY FX Total TRY FX TotalI. CASH AND BALANCES WITH THE CENTRAL BANK OF 4,682,923 2,407,887 7,090,810 3,055,130 2,541,481 5,596,611 TURKEYII. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT 940,581 51,336 991,917 293,429 44,908 338,337 AND LOSS (Net)2.1 Trading Financial Assets 574,772 21,372 596,144 254,766 44,421 299,1872.1.1 Government Debt Securities 571,091 12,694 583,785 251,377 35,387 286,7642.1.2 Securities Representing Share in Equity 65 0 65 110 0 1102.1.3 Other Marketable Securities 3,616 8,678 12,294 3,279 9,034 12,3132.2 Financial Assets Classified at Fair Value 0 0 0 0 0 0 Through Profit and Loss2.2.1 Government Debt Securities 0 0 0 0 0 02.2.2 Securities Representing Share in Equity 0 0 0 0 0 02.2.3 Other Marketable Securities 0 0 0 0 0 02.3 Trading Derivative Financial Assets 365,809 29,964 395,773 38,663 487 39,150III. BANKS 129,845 6,824,446 6,954,291 67,702 6,385,961 6,453,663IV. RECEIVABLES FROM INTERBANK MONEY MARKETS 0 0 0 0 0 04.1 Interbank Money Market Placements 0 0 0 0 0 04.2 Istanbul Stock Exchange Money Market 0 0 0 0 0 0 Placements4.3 Receivables from Reverse Repurchase Agreements 0 0 0 0 0 0V. FINANCIAL ASSETS AVAILABLE-FOR-SALE (Net) 11,525,860 10,248,943 21,774,803 14,151,427 11,868,318 26,019,7455.1 Securities Representing Share in Equity 13,640 0 13,640 13,441 0 13,4415.2 Government Debt Securities 11,512,220 8,463,126 19,975,346 14,137,986 11,012,050 25,150,0365.3 Other Marketable Securities 0 1,785,817 1,785,817 0 856,268 856,268VI. LOANS 25,067,717 8,912,124 33,979,841 22,352,733 7,465,583 29,818,3166.1 Loans 25,067,717 8,912,124 33,979,841 22,352,733 7,465,583 29,818,3166.1.1 Loans Extended to the Bank's Risk Group 86,428 444,223 530,651 49,618 274,333 323,9516.1.2 Other 24,981,289 8,467,901 33,449,190 22,303,115 7,191,250 29,494,3656.2 Loans Under Follow-up 1,491,117 2,928 1,494,045 1,161,247 2,968 1,164,2156.3 Specific Provisions (-) 1,491,117 2,928 1,494,045 1,161,247 2,968 1,164,215VII. FACTORING RECEIVABLES 0 0 0 0 0 0VIII. INVESTMENTS HELD-TO-MATURITY (Net) 1,955,393 0 1,955,393 0 0 08.1 Government Debt Securities 1,955,393 0 1,955,393 0 0 08.2 Other Marketable Securities 0 0 0 0 0 0IX. INVESTMENTS AND ASSOCIATES (Net) 766,434 0 766,434 785,129 0 785,1299.1 Investments and Associates Consolidated under 0 0 0 0 0 0 Equity Method9.2 Unconsolidated Investments and Associates 766,434 0 766,434 785,129 0 785,1299.2.1 Financial Investments and Associates 48,895 0 48,895 48,895 0 48,8959.2.2 Non-Financial Investments and Associates 717,539 0 717,539 736,234 0 736,234X. SUBSIDIARIES (Net) 4,008,584 41,742 4,050,326 3,864,385 45,493 3,909,87810.1 Unconsolidated Financial Subsidiaries 1,927,767 41,742 1,969,509 1,834,724 45,493 1,880,21710.2 Unconsolidated Non-Financial Subsidiaries 2,080,817 0 2,080,817 2,029,661 0 2,029,661XI. JOINTLY CONTROLLED ASSOCIATES (BUSINESS 0 0 0 0 0 0 ASSOCIATES) (Net)11.1 Jointly Controlled Associates Booked under 0 0 0 0 0 0 Equity Method11.2 Unconsolidated Jointly Controlled Associates 0 0 0 0 0 011.2.1 Financial Jointly Controlled Associates 0 0 0 0 0 011.2.2 Non-Financial Jointly Controlled Associates 0 0 0 0 0 0XII. LEASE RECEIVABLES 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 HEDGING 0 0 0 0 0 013.1 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. TANGIBLE FIXED ASSETS (Net) 1,919,047 2,979 1,922,026 1,762,634 3,703 1,766,337XV. INTANGIBLE ASSETS (Net) 48,803 0 48,803 15,328 0 15,32815.1 Goodwill 0 0 0 0 0 015.2 Other 48,803 0 48,803 15,328 0 15,328XVI. INVESTMENT PROPERTY (Net) 0 0 0 0 0 0XVII. TAX ASSETS 225,359 0 225,359 263,707 0 263,70717.1 Current Tax Assets 0 0 0 0 0 017.2 Deferred Tax Assets 225,359 0 225,359 263,707 0 263,707XVIII. ASSETS HELD FOR SALE AND SUBJECT TO CEASED 6,879 0 6,879 14,843 0 14,843 OPERATIONS (Net)18.1 Held For Sale 6,879 0 6,879 14,843 0 14,84318.2 Subject To Ceased Operations 0 0 0 0 0 0XIX. OTHER ASSETS 257,762 156,273 414,035 173,018 49,846 222,864 TOTAL ASSETS 51,535,187 28,645,730 80,180,917 46,799,465 28,405,293 75,204,758 TRY THOUSAND TURKIYE IS BANKASI A.S. UNCONSOLIDATED BALANCE SHEET CURRENT PERIOD PRIOR PERIOD LIABILITIES (31/12/2007) (31/12/2006) TRY FX Total TRY FX TotalI. DEPOSITS 31,266,802 17,266,343 48,533,145 28,288,192 18,111,163 46,399,3551.1 Deposits Held by the Bank's Risk Group 886,351 497,551 1,383,902 897,837 459,394 1,357,2311.2 Other 30,380,451 16,768,792 47,149,243 27,390,355 17,651,769 45,042,124II. TRADING DERIVATIVE FINANCIAL LIABILITIES 2,519 196,809 199,328 151 45,018 45,169III. FUNDS BORROWED 3,054,913 6,907,969 9,962,882 2,952,181 7,577,774 10,529,955IV. INTERBANK MONEY MARKET PAYABLES 2,906,900 2,895,658 5,802,558 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 2,906,900 2,895,658 5,802,558 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 06.1 Funds Borrowed 0 0 0 0 0 06.2 Other 0 0 0 0 0 0VII. MISCELLANEOUS PAYABLES 1,321,202 161,135 1,482,337 1,033,264 124,037 1,157,301VIII. OTHER EXTERNAL RESOURCES 209,972 521,261 731,233 46,490 98,484 144,974IX. FACTORING PAYABLES 0 0 0 0 0 0X. LEASE PAYABLES (Net) 833 70,872 71,705 0 72,311 72,31110.1 Financial Lease Payables 929 79,377 80,306 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 ( - ) 96 8,505 8,601 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 2,481,203 87,693 2,568,896 1,735,826 107,321 1,843,14712.1 General Provisions 296,308 367 296,675 216,550 458 217,00812.2 Provision for Restructuring 0 0 0 0 0 012.3 Reserves for Employee Benefits 138,786 0 138,786 124,654 0 124,65412.4 Insurance Technical Reserves (Net) 0 0 0 0 0 012.5 Other Provisions 2,046,109 87,326 2,133,435 1,394,622 106,863 1,501,485XIII. TAX LIABILITIES 224,775 196 224,971 237,974 161 238,13513.1 Current Tax Liabilities 224,775 196 224,971 237,974 161 238,13513.2 Deferred Tax Liabilities 0 0 0 0 0 0XIV. LIABILITIES HELD FOR SALE AND SUBJECT TO CEASED 0 0 0 0 0 0 OPERATIONS14.1 Held For Sale 0 0 0 0 0 014.2 Subject To Ceased Operations 0 0 0 0 0 0XV. SUBORDINATED LOANS 0 0 0 0 0 0XVI. SHAREHOLDERS' EQUITY 10,571,920 31,942 10,603,862 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 3,267,258 31,942 3,299,200 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 Revaluation Differences 1,286,073 31,942 1,318,015 1,303,280 33,873 1,337,15316.2.4 Revaluation Differences on Tangible Fixed Assets 0 0 0 0 0 016.2.5 Revaluation Differences on Intangible Fixed Assets 0 0 0 0 0 016.2.6 Investment Property Revaluation Differences 0 0 0 0 0 016.2.7 Bonus Shares from Investments and Associates, 0 0 0 0 0 0 Subsidiaries and Jointly Controlled Associates (Business Associates)16.2.8 Hedge Funds (Effective Portion) 0 0 0 0 0 016.2.9 Accumulated Revaluation Differences on Assets Held 0 0 0 0 0 0 for Trading Purposes and Subject to Ceased Operations16.2.10 Other Capital Reserves 1,977,491 0 1,977,491 1,977,491 0 1,977,49116.3 Profit Reserves 2,846,270 0 2,846,270 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 -11,726 0 -11,726 -798 0 -79816.4 Profit or Loss 1,701,807 0 1,701,807 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 1,701,807 0 1,701,807 1,109,218 0 1,109,218 TOTAL LIABILITIES 52,041,039 28,139,878 80,180,917 45,635,449 29,569,309 75,204,758 TURKIYE IS BANKASI A.S. INCOME STATEMENT TRY THOUSAND INCOME STATEMENT CURRENT PERIOD PRIOR PERIOD (01/01-31/12/ (01/01-31/12 2007) /2006) I. INTEREST INCOME 9,134,079 7,671,5191.1 Interest Income on Loans 5,266,810 4,211,9351.2 Interest Received from Reserve Deposits 274,906 209,5991.3 Interest Received from Banks 266,040 147,7781.4 Interest Received from Money Market Transactions 5,774 19,6031.5 Interest Received from Marketable Securities Portfolio 3,221,552 2,961,9901.5.1 Trading Financial Assets 54,803 54,6271.5.2 Financial Assets at Fair Value Through Profit and Loss 0 01.5.3 Available-for-sale Financial Assets 3,077,850 2,879,2241.5.4 Held to Maturity Investments 88,899 28,1391.6 Financial Lease Income 0 01.7 Other Interest Income 98,997 120,614II. INTEREST EXPENSE 6,173,858 5,084,2052.1 Interest on Deposits 4,668,531 3,994,5582.2 Interest on Funds Borrowed 887,274 724,4922.3 Interest on Money Market Transactions 588,485 351,0992.4 Interest on Securities Issued 0 02.5 Other Interest Expense 29,568 14,056III. NET INTEREST INCOME / EXPENSE (I - II) 2,960,221 2,587,314IV. NET FEES AND COMMISSIONS INCOME / EXPENSE 1,074,511 978,0594.1 Fees and Commissions Received 1,174,306 1,057,5884.1.1 Non-cash Loans 81,806 81,7054.1.2 Other 1,092,500 975,8834.2 Fees and Commissions Paid 99,795 79,5294.2.1 Non-cash Loans 94 184.2.2 Other 99,701 79,511V. DIVIDEND INCOME 503,063 117,121VI. TRADING INCOME (NET) 426,164 63,8706.1 Profit/Losses on Trading Account Securities 545,510 198,0256.2 Foreign Exchange Gains/Losses -119,346 -134,155VII. OTHER OPERATING INCOME 910,969 651,324VIII. TOTAL OPERATING INCOME / EXPENSE (III+IV+V+VI+VII) 5,874,928 4,397,688IX. PROVISION FOR LOAN LOSSES OR OTHER RECEIVABLES (-) 1,617,804 909,161X. OTHER OPERATING EXPENSES (-) 2,154,043 1,857,939XI. NET OPERATING INCOME (VIII-IX-X) 2,103,081 1,630,588XII. EXCESS AMOUNT OF INCOME AFTER MERGER 0 0XIII. PROFIT/LOSSES FROM ASSOCIATES AND SUBSIDIARIES CONSOLIDATED UNDER EQUITY 0 0 METHODXIV. NET MONETARY POSITION GAIN/LOSS 0 0XV. PROFIT/LOSS ON CONTINUING OPERATIONS BEFORE TAX (XI+...+XIV) 2,103,081 1,630,588XVI. PROVISION FOR TAXES ON CONTINUING OPERATIONS (+/-) 401,274 521,37016.1 Current Provision for Tax 406,482 280,71916.2 Deferred Provision for Tax -5,208 240,651XVII. NET PERIOD PROFIT/LOSS FOR CONTUNUING OPERATIONS (XV+/-XVI) 1,701,807 1,109,218XVIII. INCOME GAINED ON CEASED OPERATIONS 0 018.1 Income For Fixed Assets Held For Sale (For Trading Purposes) 0 018.2 Profit Gained On Investments and Associates, Subsidiaries and Jointly 0 0 Controlled Associates Sales (Business Associates)18.3 Other Ceased Operations Income 0 0XIX. EXPENSE DERIVED FROM CEASED OPERATIONS(-) 0 019.1 Expense For Fixed Assets Held For Sale (For Trading Purposes) 0 019.2 Loss Deriving From From Investments and Associates, Subsidiaries and 0 0 Jointly Controlled Associates (Business Associates) Sales19.3 Other Ceased Operations Income 0 0XX. PROFIT/LOSS BEFORE TAXES FOR CEASED OPERATIONS (XVII-XIX) 0 0XXI. PROVISION FOR TAXES ON CEASED OPERATIONS (+/-) 0 021.1 Current Provision for Tax 0 021.2 Deferred Provision for Tax 0 0XXII. NET PERIOD PROFIT/LOSS FOR CEASED OPERATIONS (XX+/-XXI) 0 0XXIII. NET PERIOD PROFIT/LOSS (XVII+XXII) 1,701,807 1,109,218 Earnings/Losses per Share (in full TRY) 0.024693618 0.016095013 CAPITAL ADEQUACY STANDARD RATIO The Bank's capital adequacy ratio is 20.53 %. 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) 10,750,827 7,038,696 16,968,029 23,216,680 Cash 501,804 1,025 0 0Securities in Redemption 0 0 0 0 The Central Bank of Turkey 4,881,584 0 0 0 Domestic and Foreign Banks, Foreign Head 0 6,616,666 0 289,774 Offices and Branches Interbank Money Market Placements 0 0 0 0 Receivables from Reverse Repo Transactions 0 0 0 0 Reserve Deposits 1,641,083 0 0 0 Loans 1,148,428 9,624 16,618,983 15,277,673 Loans under Follow-Up (Net) 0 0 0 0 Lease Receivables 0 0 0 0 Marketable Securities Available-for-Sale 0 0 0 0 Marketable Securities Held to Maturity 1,866,695 0 0 0 Receivables from Forward Sale of Assets 0 0 0 0 Miscellaneous Receivables 6 0 0 305,019 Accrued Interest and Income 171,167 411,381 349,046 579,110 Investments and Associates, Subsidiaries 0 0 0 4,816,498and Jointly-controlled Associates Tangible Fixed Assets 0 0 0 1,902,747 Other Assets 540,060 0 0 45,859 Off Balance Sheet Items 48,155 2,447,780 724,827 8,666,916 Non-cash Loans and Commitments 48,155 2,027,455 724,827 8,663,985 Derivative Financial Instruments 0 420,325 0 2,931 Non- Risk-Weighted Accounts 0 0 0 0 Total Risk Weighted Assets 10,798,982 9,486,476 17,692,856 31,883,596 Summary information about the bank only capital adequacy ratio: Current Period Prior PeriodAmount Subject to Credit Risk (ASCR) 42,627,319 35,970,835Amount Subject to Market Risk (ASMR) 3,726,425 861,700Amount Subject to Operational Risk (ASOR) 6,408,553 -Shareholders' Equity 10,834,242 8,793,538Shareholders' Equity /(ASCR+ASMR+ASOR)*100 20.53 23.87 ASCR: Amount Subject to Credit Risk ASMR:Amount Subject to Market Risk ASOR: Amount Subject to Operational Risk Information about the shareholders' equity items: Current Period Prior Period (31.12.2007) (31.12.2006)CORE CAPITAL (TIER I)Paid-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 44,114Reserves Allocated due to Special Laws 0 0Status Reserves 0 0Other Profit Reserves -11,726 -30,025(*)Extraordinary Reserves 1,845,621 921,953Reserves Allocated by the General Assembly 1,842,682 921,953Retained Earnings 2,939 0Accumulated Loss 0 0Foreign Currency Share Capital Exchange Difference 0 0Reserves from Inflation Adjustments to Legal, Status and Extraordinary Reserves 0 0Profit 1,701,807 1,491,039Current Period Profit 1,701,807 1,109,218Prior Periods' Profit 0 381,821Provision for Possible Losses (upto 25% of Core Capital) 770,000 120,000Share from Associates and Subsidiaries and Profit on Real Estates Sales 0 0Primary Subordinated Debt (upto 15% of core Capital) 0 0Loss Excess of Reserves (-) 0 0Current Period Loss 0 0Prior Periods' Loss 0 0Leasehold Improvements (-) 26,158 32,116Prepaid Expenses (-) 36,164 51,787Intangible Fixed Assets (-) 48,803 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 (**) 10,055,847 8,163,778SUPPLEMENTARY CAPITAL (TIER II)General Reserves 296,675 217,00845% of Revaluation Surplus Movables 0 045% of Revaluation Surplus on Immovables 0 0Bonus Shares of Associates, Subsidiaries and Jointly-controlled Associates (Business 0 0Associates)Primary Subordinated Debt Excluding the Portion included in Core Capital 0 0Secondary Subordinated Debt 0 045% of Securities Value Increase Fund 593,107 614,871Associates and Subsidiaries 556,675 680,852Financial Assets Available for Sale 36,432 -65,981Inflation Adjustments to Capital Reserves, Profit Reserves and Prior Periods' Profit 0 0/Loss (excluding the inflation adjustments to legal reserves, status reserves and extraordinary reserves)Total Supplementary Capital 889,782 831,879 TIER III CAPITAL 0 0 CAPITAL 10,945,629 8,995,657 DEDUCTIONS FROM THE CAPITAL 111,387 202,119 Unconsolidated investments in entities (domestic/foreign) operating in Banking and 262 102,888Financial 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 0 TOTAL SHAREHOLDERS' EQUITY 10,834,242 8,793,538 (*) TRY (29,227) of the relavant amount stems from the exchange rate differencesarising from subsidiaries presented in Other Profit Reserves in the financialstatements dated 31.12.2006, are followed under Marketable SecuritiesRevaluation Fund, in line with the provisions of the Uniform Code of Accounts(UCA) and the Explanatory Manual, which was published in the Official Gazettedated 26.01.2007 and nr. 26415 and came into effect as at 01.01.2007. (**) 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 222,746(II) Capital to be Employed for Specific Risk - Standard Method 33,254(III) Capital to be Employed for Currency Risk - Standard Method 40,486(IV) Capital to be Employed for Commodity Risk - Standard Method 0(V) Capital to be Employed for Clearing Risk - Standard Method 0(VI) Capital to be Employed for Market Risk of Options - Standard Method 1,628(VII) Capital to be Employed for Market Risks of Banks Applying Risk Measurement Models 0(VIII) Total Capital to be Employed for Market Risk (I+II+III+IV+V+VI) 298,114(IX) Amount Subject to Market Risk (12.5 x VIII) or (12.5 x VII) 3,726,425 Information on currency risk: EURO USD Yen Other FX TotalCurrent PeriodAssetsCash (Cash in Vault, Foreign Currency, 2,335,501 55,526 310 16,550 2,407,887Money in Transit, Cheques Purchased) andBalances with the Central Bank of TurkeyBanks (1) 1,671,692 4,248,419 11,559 892,776 6,824,446Financial Assets at Fair Value through 4,356 12,283 0 5,385 22,024Profit/Loss (2)Interbank Money Market Placements 0 0 0 0 0Investment Securities Available for Sale 1,183,637 9,065,306 0 0 10,248,943Loans (3) 3,443,368 6,274,032 2,972 63,326 9,783,698Investments in Associates, Subsidiaries 41,742 0 0 0 41,742and Joint-Ventures (Business Associates)Investment Securities Held to Maturity 0 0 0 0 0Derivative Financial Assets Held for Risk 0 0 0 0 0 ManagementTangible Fixed Assets (2) 0 81 0 201 282Intangible Assets 0 0 0 0 0Other Assets (2) 10,947 119,635 37 264 130,883Total Assets 8,691,243 19,775,282 14,878 978,502 29,459,905 LiabilitiesBanks Deposits 77,977 23,805 12 75,410 177,204Foreign Currency Deposits (4) 6,972,358 9,296,680 18,750 801,351 17,089,139Interbank Funds 708,923 2,186,735 0 0 2,895,658Funds Provided from Other Financial 27,857 6,871,170 589 8,353 6,907,969InstitutionsMarketable Securities Issued 0 0 0 0 0Miscellaneous Payables 71,361 80,396 622 8,756 161,135Derivative Financial Liabilities Held for 0 0 0 0 0Risk ManagementOther Liabilities (2) 89,318 618,849 5 4,832 713,004Total Liabilities 7,947,794 19,077,635 19,978 898,702 27,944,109 Net On Balance Sheet Position 743,449 697,647 -5,100 79,800 1,515,796Net Off Balance Sheet Position -402,213 -1,406,099 48,430 11,450 -1,748,432Financial Derivative Assets (5) 329,633 3,782,748 110,040 11,681 4,234,102Financial Derivative Liabilities (5) 731,846 5,188,847 61,610 231 5,982,534Non-Cash Loans 1,363,640 2,894,409 58,829 65,229 4,382,107Previous PeriodTotal Assets 8,287,006 20,080,043 3,843 902,197 29,273,089Total Liabilities 8,157,498 20,420,839 14,155 900,797 29,493,289Net On Balance Sheet Position 129,508 -340,796 -10,312 1,400 -220,200Net 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 3,006,922Non-Cash Loans 1,306,026 3,308,908 56,668 66,868 4,738,470 (1) TRY 892,776 of the asset amount of TRY 722,943 shown in the Other FXcolumn is in GBP and the remaining TRY 169,833 is in other foreign currencies. (2) In accordance with the principles of the "Regulation on Measurement andPractices of Banks' Net Overall FX Position / Shareholders' Equity Ratio on aConsolidated and Unconsolidated Basis", Derivative Financial Instruments ForeignCurrency Income Accruals (TRY 29,312), Leasehold Improvements (TRY 2,697),Prepaid Expenses (TRY 25,390) in asset items and General Reserves (TRY 367),Derivative Financial Instruments Foreign Currency Expense Accruals (TRY 163,460)in liabilities are not taken into consideration in the currency riskmeasurement. (3) Includes foreign currency indexed loans, which are followed under TRYaccounts. TRY 533,846 of these loans amounting to TRY 871,574 are USD indexed,TRY 336,270 of them are EUR indexed, TRY 172 of them are CHF indexed, TRY 242of them are GBP indexed and TRY 1,044 of them are JPY indexed. (4) TRY 638,469 of the liability amount of TRY 801,352 shown in the Other FXcolumn is in GBP , TRY 96,540 is in CHF and TRY 27,149 is in SEK. The remainingTRY 39,190 is in other foreign currencies. (5) The derivative transactions are taken into consideration within the contextof the forward foreign currency trading definitions in the above mentionedRegulation. Presentation of assets and liabilities according to their remaining maturities: Demand Up to 1 1-3 3-12 1-5 5 Year Not Total Month Months Months Year and Classified Longer (1)Current Period (31.12.2007) Assets Cash (Cash in Vault, Foreign 7,090,810 0 0 0 0 0 0 7,090,810Currency, Money in Transit,Cheques Purchased) andBalanceswith the Central Bank ofTurkey Banks 404,516 4,381,654 3,332 0 2,129,302 35,487 0 6,954,291 Financial Assets at Fair Value 65 3,231 29,344 781,155 172,242 5,880 0 991,917through Profit/LossInterbank Money Market 0 0 0 0 0 0 0 0Placements Investment Securities 56,981 247,791 453,050 3,217,452 15,284,270 2,515,259 0 21,774,803Available-for-Sale Loans 3,725,065 4,677,042 2,846,868 8,580,265 10,872,831 3,277,770 0 33,979,841 Investment Securities Held-to- 0 0 0 0 1,212,097 743,296 0 1,955,393Maturity Other Assets 0 144,232 42,498 596 161,822 20,213 7,064,501 7,433,862 Total Assets 11,277,437 9,453,950 3,375,092 12,579,468 29,832,564 6,597,905 7,064,501 80,180,917 Liabilities Banks Deposits 199,504 477,019 67,797 7,183 0 0 0 751,503 Other Deposits 7,791,251 30,086,834 6,054,401 3,726,587 122,569 0 0 47,781,642 Funds Provided from Other 0 101,134 122,523 1,868,599 5,745,845 2,124,781 0 9,962,882Financial Institutions Interbank Funds Borrowed 0 3,165,852 491,942 1,784,697 360,067 0 0 5,802,558 Marketable Securities Issued 0 0 0 0 0 0 0 0 Miscellaneous Payables 790,838 664,088 1,435 298 25,678 0 0 1,482,337 Other Liabilities 0 245,028 110,120 419,118 200,538 50,996 13,374,195 14,399,995 Total Liabilities 8,781,593 34,739,955 6,848,218 7,806,482 6,454,697 2,175,777 13,374,195 80,180,917 Liquidity Gap 2,495,844 -25,286,005 -3,473,126 4,772,986 23,377,867 4,422,128 -6,309,694 0 Prior Period(31.12.2006) Total Assets 8,009,509 8,581,702 3,295,512 13,518,171 29,004,574 5,982,286 6,813,004 75,204,758 Total Liabilities 8,406,085 32,833,894 9,244,035 8,158,753 1,934,590 3,324,655 11,302,746 75,204,758 Liquidity Gap -396,576 -24,252,192 -5,948,523 5,359,418 27,069,984 2,657,631 -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 Long- Interest and Income Total Term AccrualsConsumer Loans-TRY 586,477 7,064,960 333,393 7,984,830Real Estate Loans 13,245 3,274,959 260,776 3,548,980Automotive Loans 30,343 798,575 31,452 860,370General Purpose Consumer Loans 542,841 2,990,679 41,137 3,574,657Other Consumer Loans 48 747 28 823Consumer Loans - FX Indexed 898 109,680 12,864 123,442Real Estate Loans 398 94,090 11,489 105,977Automotive Loans 500 15,514 1,374 17,388General Purpose Consumer Loans 0 76 1 77Other Consumer Loans Indexed to 0 0 0 0FCConsumer Loans - FX 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-TRY 3,128,023 0 33,218 3,161,241 Installment Based 981,135 0 0 981,135 Other Credit Cards 2,146,888 0 33,218 2,180,106Retail Credit Cards-FX 0 0 0 0 Installment Based 0 0 0 0 Other Credit Cards 0 0 0 0Personnel Loans-TRY 25,733 149,629 5,404 180,766Real Estate Loans 110 47,803 3,456 51,369Automotive Loans 185 9,128 305 9,618General Purpose Consumer Loans 25,438 92,694 1,643 119,775Other Consumer Loans 0 4 0 4Personnel Loans- FX Indexed 37 1,658 21 1,716Real Estate Loans 0 1,579 13 1,592Automotive Loans 37 36 0 73General Purpose Consumer Loans 0 43 8 51Other Consumer Loans 0 0 0 0Personnel Loans-FX 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-TRY 53,330 0 280 53,610 Installment Based 17,035 0 0 17,035 Other Credit Cards 36,295 0 280 36,575Personnel Credit Cards-FX 0 0 0 0 Installment Based 0 0 0 0 Other Credit Cards 0 0 0 0Overdraft Accounts - TRY (real 261,655 0 9,838 271,493persons)Overdraft Accounts - FX (real 0 0 0 0persons)Total 4,056,153 7,325,927 395,018 11,777,098 Installment based commercial loans and corporate credit cards: Short-Term Medium and Long Interest and Income Total Term AccrualsInstallment Based Commercial 572,266 5,895,247 268,922 6,736,435Loans-TRYReal Estate Loans 4,114 400,891 18,938 423,943Automotive Loans 96,355 1,968,326 69,066 2,133,747General Purpose Commercial Loans 451,000 3,229,723 119,673 3,800,396Other Commercial Loans 20,797 296,307 61,245 378,349Installment Based Commercial 19,682 257,522 19,183 296,387Loans-FX IndexedReal Estate Loans 152 30,326 3,550 34,028Automotive Loans 7,617 151,534 12,694 171,845General Purpose Commercial Loans 11,913 75,662 2,939 90,514Other Commercial Loans 0 0 0 0Installment Based Commercial 0 0 0 0Loans-FXReal 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-TRY 159,052 0 205 159,257 Installment Based 0 0 0 0 Other Credit Cards 159,052 0 205 159,257Corporate Credit Cards-FX 0 0 0 0 Installment Based 0 0 0 0 Other Credit Cards 0 0 0 0Overdraft Accounts - TRY 734,620 0 28,775 763,395 (corporate)Overdraft Accounts - FX 0 0 0 0(corporate)Total 1,485,620 6,152,769 317,085 7,955,474 Specific provisions provided against loans: Specific Provisions Current Period Previous Period Loans and Receivables with Limited Collectibility 259,843 117,524Loans and Receivables with Doubtful Collectibility 190,763 156,695Uncollectible Loans and Receivables 1,043,439 889,996Total 1,494,045 1,164,215 The changes in total loans under follow-up: Group III Group IV Group V Loans and Receivables Loans and Uncollectible Loans with Limited Receivables and Collectibility with Doubtful Receivables CollectibilityPrevious Period End Balance 117,524 156,695 889,996Corporate and Commercial Loans 80,198 104,857 809,430Retail Loans 18,153 21,496 20,100Credit Cards 19,173 30,342 52,023Other 0 0 8,443Additions (+) 727,038 208,969 4,863 Corporate and Commercial Loans 503,590 198,604 4,004 Retail Loans 89,390 4,152 737 Credit Cards 134,058 2,785 121 Other 0 3,428 1Transfers from Other Categories of 0 458,825 538,916 Loans Under Follow-Up (+) Corporate and Commercial Loans 0 315,384 440,285 Retail Loans 0 64,087 43,143 Credit Cards 0 70,911 55,488 Other 0 8,443 0Transfers to Other Categories of 450,382 538,916 8,443 Loans Under Follow-Up (-) Corporate and Commercial Loans 315,384 440,285 0 Retail Loans 64,087 43,143 0 Credit Cards 70,911 55,488 0 Other 0 0 8,443Collections (-) 134,297 94,483 343,976 Corporate and Commercial Loans 81,129 55,151 308,994 Retail Loans 19,270 19,931 15,102 Credit Cards 33,898 18,772 19,880 Other 0 629 0Write-Offs (-) 40 327 37,917 Corporate and Commercial Loans 2 141 35,562 Retail Loans 4 8 355 Credit Cards 34 65 2,000 Other 0 113 0Current Period End Balance 259,843 190,763 1,043,439 Corporate and Commercial Loans 187,273 123,268 909,163 Retail Loans 24,182 26,653 48,523 Credit Cards 48,388 29,713 85,752 Other 0 11,129 1Specific Provisions (-) 259,843 190,763 1,043,439 Corporate and Commercial Loans 187,273 123,268 909,163 Retail Loans 24,182 26,653 48,523 Credit Cards 48,388 29,713 85,752 Other 0 11,129 1Net Balance on Balance Sheet 0 0 0 Information on Deposits: The maturity structure of deposits (Current period): Demand With Up to 1 1-3 3-6 6 Months Total 7 Days Month Months Months to 1 Year 1 Year Accumulated Maturity and Deposits Over Savings Deposits 2,155,093 0 9,413,510 5,727,691 735,732 94,320 254,566 0 18,380,912Foreign Currency 3,435,193 0 6,475,769 3,157,758 1,188,786 1,279,348 1,551,915 0 17,088,769 DepositsResidents in 3,340,399 0 6,088,345 3,056,661 1,148,931 1,041,720 1,359,671 0 16,035,727TurkeyResidents Abroad 94,794 0 387,424 101,097 39,855 237,628 192,244 0 1,053,042Deposits of Public 290,617 0 536,174 199,408 57,436 0 826 0 1,084,461 InstitutionsCommercial 1,732,409 0 2,730,430 3,459,695 64,670 364,677 3,755 0 8,355,636DepositsOther Deposits 177,569 0 622,350 1,501,250 352,542 9,659 208,124 0 2,871,494Precious Metals 370 0 0 0 0 0 0 0 370VaultInterbank Deposits 199,504 0 111,517 409,749 17,254 7,463 6,016 0 751,503The Central Bank 22,209 0 0 0 0 0 0 0 22,209of TurkeyDomestic Banks 5,646 0 32,710 397,392 0 83 1,198 0 437,029Foreign Banks 168,734 0 78,807 12,357 17,254 7,380 4,818 0 289,350Special Financial 2,915 0 0 0 0 0 0 0 2,915 InstitutionsOther 0 0 0 0 0 0 0 0 0Total 7,990,755 0 19,889,750 14,455,551 2,416,420 1,755,467 2,025,202 0 48,533,145 Information on interest income received from loans: Current Period Prior Period TRY FX TRY FXInterest Income Received from Loans *Short-term Loans 2,083,149 118,325 1,601,138 132,347Medium and Long-term Loans 2,453,331 468,348 2,052,855 368,587Interest on Loans under Follow-up 143,493 164 57,008 0Premiums Received from State Utilisation Support 0 0 0 0Fund * Includes fees and commissions received from cash loans. Information on interest income received from securities: Current Period Prior Period TRY FX TRY FXInterest Income Received from Trading Financial 54,586 217 53,948 679AssetsInterest Income Received from Financial Assets at 0 0 0 0Fair Value Through Profit And LossInterest Income Received from Financial Assets 2,266,731 811,119 2,135,508 743,716Available-For-SaleInterest Income Received from Investments 88,698 201 28,139 0Held-to-MaturityTotal 2,410,015 811,537 2,217,595 744,395 Maturity Structure of Interest Expense on Deposits: Demand Time Deposits Deposits Up to One 1-3 3-6 6 Months 1 Year and Accumulated Total Month Months Months to 1 Year Over DepositsTRY Bank Deposits 2,733 21,664 69,351 487 732 0 0 94,967Savings Deposits 2,986 1,363,674 816,835 83,023 13,729 36,461 0 2,316,708Public Sector Deposits 228 8,315 8,424 2,965 0 64 0 19,996Commercial Deposits 1,425 359,109 667,411 59,667 91,148 26,745 0 1,205,505Other Deposits 430 159,675 276,491 107,538 1,350 72 0 545,556Deposits with 7 Days 0 0 0 0 0 0 0 0MaturityTotal 7,802 1,912,437 1,838,512 253,680 106,959 63,342 0 4,182,732FXForeign currency 600 242,578 141,638 28,156 7,781 58,412 0 479,165depositsBank Deposits 241 4,331 1,474 232 143 213 0 6,634Deposits with 7 Days 0 0 0 0 0 0 0 0MaturityPrecious Metals Vault 0 0 0 0 0 0 0 0Total 841 246,909 143,112 28,388 7,924 58,625 0 485,799Grand Total 8,643 2,159,346 1,981,624 282,068 114,883 121,967 0 4,668,531 Provision expenses due to loans and other receivables: Current Period Prior Period Specific Provisions for Loans and Other Receivables 581,896 387,710 From Group III Loans and Receivables 547,108 323,476 From Group IV Loans and Receivables 10,371 4,930 From Group V Loans and Receivables 24,417 59,304 General Provision Expenses 79,758 67,723Optional Provisions Allocated for Probable Risks 770,000 120,000 Marketable Securities Impairment Expense 104,457 121,199 Financial Assets at Fair Value through Profit and Loss 4 4 Financial Assests Available-for-sale 104,453 121,195 Impairment Losses on Participations 51,672 178,855 Investment and Associates 18,695 36,252 Subsidiaries 32,977 142,603 Jointly Controlled Associates 0 0 Securities Held-to-Maturity 0 0 Others 30,021 33,674Total 1,617,804 909,161 Other operating expenses: Current Period Prior PeriodPersonnel Expenses 1,085,006 936,890Reserve for Employee Termination Benefits 8,701 1,591Bank Pension Fund Deficit Provisions 0 21,825Impairment Losses on Tangible Fixed Assets 8,181 0Depreciation Expenses of Tangible Fixed Assets 113,730 106,857Impairment Losses on Intangible Fixed Assets 0 0 Impairment Losses on Goodwill 0 0Depreciation Expenses of Intangible Fixed Assets 13,309 911Impairment Losses on Share of Participations Booked with Equity 0 0MethodImpairment Losses on Assets to be Disposed 0 0Depreciation Expenses of Assets to be Disposed 11,853 16,317Impairment Losses on Assets Held for Sale and Subject to Ceased 0 0OperationsOther Operating Expenses 702,837 555,310Operational Lease Expenses 60,063 47,756Repair and Maintenance Expenses 11,795 8,893Advertisement Expenses 96,608 187,613Other Expenses 534,371 311,048Loss on Sale of Assets 3,004 23,739Other 207,422 194,499Total 2,154,043 1,857,939 This information is provided by RNS The company news service from the London Stock Exchange