Regarding S&P Rating Action

Regarding S&P Rating Action

On 22.07.2016, International Credit Rating Agency S&P,

-changed İşbank's long-term Counterparty Credit Ratings to BB from BB+ and long-term Turkey National Scale Ratings to trAA- from trAA+

-assigned the outlook on İşbank's long-term Counterparty Credit Rating as"Negative"

-affirmed İşbank's short-term Counterparty Credit Rating at B and short-term Turkey National Scale Rating at trA-1.

According to the disclosure made by the agency, the aforementioned changes were made following the action taken on the sovereign ratings of the Republic of Turkey announced on 20 July 2016.