1 H 05 BRSA Bank Only Financial Results

1 H 05 BRSA Bank Only Financial Results 29 July 2005

Highlights l Total assets increased 28% y-t-d, reaching TRY 44. 7 bn (USD 32. 8 bn) l Continued growth in loan portfolio of 32% y-t-d 41% growth in TL loans -mostly made up of high yield SME and consumer loans l Aggressive growth in customer deposits, up 32% y-t-d, generated from 87% growth in TL customer deposits l Net commission income growth 57% y-o-y, driven by the strong growth in credit card and consumer loan related revenues l 40% growth in net profit, reaching TRY 778 mn (USD 571 mn)

Highlights Total Assets (TRY billion) Loans (TRY billion) 18% 23% 8% 7% Deposits (TRY billion) Net Profit (TRY million) 40% 23% 10% * At YE 04 prices 3

We are improving our rankings* 1 H 05 1 H 04 • Total Loans 1 2 • Total Consumer Loans 1 2 • Car Loans 1 2 • Mortgages 1 1 • Deposits 1 2 • Asset size 2 2 * Private Commercial Banks

Profitability performance (TRY mn. ) change 1 H 05 1 H 04* 1, 285 1, 252 3% 304 194 57% 1, 119 803 39% Net income 778 554 40% ROAA (%) 3. 9% 3. 4% ROAE (%) 26. 3% 19. 5% Net interest income Net fee income Income before tax * At YE 04 prices 5

Ratios Balance sheet performance 1 H 05 YE 04 Interest Earning Assets / Total Assets 95. 4% 95. 9% Interest Bearing Liabilities / Total Liabilities 83. 4% 78. 0% Gross Loans / Total Assets 39. 0% 37. 6% Loans / Deposits* 64. 4% 66. 0% Deposits / Total Assets 60. 4% 57. 1% 1. 7% 1. 6% 23. 5% 36. 2% NPL Ratio Capital Adequacy Ratio (Basel I)** * Blocked demand deposits of POS merchants (TRY 528 mn), which encompasses the character of a demand deposit, is booked as “Miscellaneous Payables” instead of deposits **The sharp fall in the Capital Adequacy Ratio is effected from the share buy-back as well as increase in capital requirement on credit card limits to 100% and strong growth in loans 6

Composition of securities (TRY bn. ) 9. 1 52% 48% 9. 2 38% 62% l Securities to total assets shrunk to 41% from 44% y-t-d l Eurobonds amounting to USD 307 mn (TRY 418 mn) and USD 52 mn (TRY 70 mn) are registered under trading and available-for-sale securities portfolios, respectively l 68% of TL securities are carried under available-for-sale securities, profits being booked under equity 7

Loans Composition of Loans up 32% y-t-d TRY 17. 1 bn. TRY 13. 9 bn. TRY 12, 9 bn. 60% 62% 64% l TL loans surged 41% y-t-d, compared to 23% growth in the sector l Akbank’s market share in loans reached 14%* from 12. 7% y-t-d l Despite the strong growth, NPL ratio has been low at 1. 7% and fully provisioned * According to provisional market data 8

Consumer and SME lending is now ~62% of total loans Breakdown of Loans Growth (y-t-d) 6% 33% 47% 36% 9

Segment based developments

Akbank is today # 1 in retail lending Consumer Lending (1 H 05, TRY mn. ) 5, 275 4, 743 Consumer Lending 4, 488 Credit Cards Loans 11

Retail Banking - credit cards Credit Card Loans 1 Credit Cards Issuing Volume 1 Market shares are cumulative 1 Amex is included l Strong product mix and solid retail partners has boosted the credit card business l 15% growth in credit card loans y-t-d l 3 million active credit cards by 1 H 05 12

Retail Banking - consumer loans Consumer Loans 1 (TRY mn. ) 55% y-t-d 3, 125 2, 416 2, 010 l Akbank’s consumer loans’ market share reached 16. 0% l Market share in car loans reached at 26. 6% l Market share in morgage loans reached 16. 7% 1 Numbers represent direct lending to individuals, excluding credit cards 13

Retail Banking - small business Small Business Loans 1 (TRY mn. ) 48% y-t-d Only 4% in FX l Special credit packages for; l l l Certain sectors and regions (pharmaceuticals, agriculture, tourism etc. ) Dealer networks of corporate clients (ie. Microsoft, IBM, Bosch, Arçelik) Cross sell ratio in small business loans is 3. 1 x 1 Small business loans given to companies with sales turnover <USD 2 mn are granted by the retail banking unit

Commercial Banking Commercial Loans 1 83% y-t-d 75% y-t-d 2004 1 Q 05 1 H 05 TL cash loans (TRY mn. ) 2004 1 Q 05 1 H 05 FX cash loans (USD mn. ) l Commercial loans are also considered as a hook product, which paves the way for further marketing opportunities like cash management services and foreign trade products l There is already 41 commercial banking centers in 16 provinces and we are targeting to add approx. 5 more in a year l Cross sell ratio in commercial loans is 3. 9 x 1 Medium size companies with sales turnover btw. USD 2– 30 mn are serviced through our commercial banking unit

Corporate Banking l Loans to blue-chip companies like Ford, Unilever, Carrefour reached USD 3. 3 billion registering a 33% increase y-t-d l Project finance loans stand at USD 1. 1 billion l Special and structured financial solutions for corporate needs like cash management products regulating the collection and payment cycle of companies l Blue-chip companies provide excellent cross-sell opportunities (3. 8 x) 16

Asset management Mutual Funds (TRY mn. ) l Currently #2 in mutual funds l The underlying factors behind this; l Superior channel management l Superior asset management performance l Effective marketing and communication Private Banking Assets (USD mn. ) Volume Market share (%) l Wide range of domestic and international investment products l Top quality investment advisory service l Cross-sell ratio in private banking is 3. 7 x 17

Breakdown of customer assets TRY 46 bn TRY 39 bn 87% y-t-d Market share 10% 15% 19% 14% 36% l l Total customer assets surged 19% year-to-date, compared to 5% for the sector Akbank’s market share for total customer assets constitutes 15% of the market versus 13% in YE 04

Income statement - composition of interest income Composition of interest income TRY bn. 2. 2 2. 3 *At YE 04 prices l Growth in TL loans had a dramatic impact on interest income 19

Net fees and commissions Net Fees & Commissions (BRSA, TRY mn. ) 57% Fees and commissions revenue contribution Corporate Asset loan Money management fees related transfer fees Consumer loan related Other Credit cards commissions Merchant commissions *At YE 04 prices l Net fee and commission income growth is mainly due to the rapid growth in credit card and consumer loan related revenues l We continue to implement and increase fees in all the product base

Improving fee income ratios in line with targets Net fees & commissions/operating expense l Net fees & commissions/operating income We are rapidly approaching our medium term fee to income target of 25%

Efficiency ratios Operating expense/average assets (%) Cost/income (%) l Restructuring of branches will largely be finalized at YE 05 l Centralization together with the new technology infrastructure continue to allow us to keep operational costs subdued

Net interest margin NIM (%) l Net interest margin is only falling gradually due to the shift into TL assets NIM (after FX loss, loan provision) * 1 H 04 and YE 04 figures are after monetary loss 23

Income statement summary (1 H 05, TRY million) 133 -167 93 -529 304 -341 1, 285 778 NII Net fees income Net trading income Other income Provisions Operating expense Tax Net income l Asset switch to TL loans from TL securities continues to affect the interest spread positively l A y-o-y increase of 57% in net commissions had an important impact on profitability 24

Free capital comparison Total Equity (BRSA, TRY mn. ) Free Capital 1 H 05 (BRSA, TRY mn. ) AKBANK l Buy-back of founders’ shares has reduced equity l Akbank will continue to optimize its capital structure through its dividend policy of 30% min. 50% max. cash dividend payment l Akbank’s strong free capital is a major cushion against the effects of any market volatility 25

Akbank is the 1 st bank in Turkey to buy its founders’ shares l Akbank finalized the buy-back of its founders and usufruct shares from its extraordinary reserves, on 28 June 2005 l The target for the transaction was; l To create value for ordinary shareholders as they will be eligible to receive dividend payments from a larger pool of distributable profit l To reduce excess capital by approx. USD 750 mn l To enhance ROE and therefore the overall valuation of the bank l To improve corporate governance l To clear the way for potential strategic partnerships and mergers in the future for Akbank 26

Balance sheet highlights BRSA (TRY mn. ) Shares (%) 2004 1 H 05 2004 44, 673 34, 913 2, 747 1, 995 6 6 Securities 18, 308 15, 238 41 44 Loans 17, 109 12, 939 38 37 39, 062 28, 686 27, 005 19, 918 60 57 5, 790 4, 845 13 14 5, 611 6, 227 13 18 TOTAL ASSETS Cash and Due from Banks TOTAL LIABILITIES Deposits Funds Borrowed TOTAL EQUITY 27

Income statement highlights BRSA (TRY mn. ) 1 H 05 1 H 04* 2, 317 2, 190 (1, 032) (938) 1, 285 1, 252 11 (105) (143) (51) 1, 153 1, 096 304 194 68 225 Operating Profit 1, 769 1, 654 Operating Expenses (490) (421) - (360) 1, 119 803 (341) (249) 778 554 Interest Income Interest Expense Net Interest Income FX Gain (Loss), Net Provision for Loan Losses Net Interest Income after FX, Income/Loss & NPL Prov. Fees and Commissions (Net) Profit on Trading Securities (Net) Monetary Loss Income Before Tax Net Income * Amounts are expressed in terms of the purchasing power of TL at 31 December 2004 28

Balance sheet highlights in USD BRSA (USD mn. *) Shares (%) 2004 1 H 05 2004 32, 799 25, 490 2, 017 1, 456 6 6 Securities 13, 442 11, 125 41 44 Loans 12, 561 9, 447 38 37 28, 680 20, 943 19, 827 14, 542 60 57 4, 251 3, 537 13 14 4, 119 4, 547 13 18 TOTAL ASSETS Cash and Due from Banks TOTAL LIABILITIES Deposits Funds Borrowed TOTAL EQUITY * Figures are stated with exchange rates effective at respective dates 29

Income statement highlights in USD BRSA (USD mn. *) 1 H 05 1 H 04 Interest Income 1, 701 1, 387 Interest Expense (758) (595) 943 792 8 (66) (105) (32) Net Interest Income after FX, Income/Loss & NPL Prov. 846 694 Fees and Commissions (Net) 223 123 50 143 Operating Profit 1, 299 1, 046 Operating Expenses (360) (267) - (228) 821 508 (251) 157 571 351 Net Interest Income FX Gain (Loss), Net Provision for Loan Losses Profit on Trading Securities (Net) Monetary Loss Income Before Tax Net Income * Figures are stated with exchange rates effective at respective dates 30

Disclaimer Statement The information and opinions contained in this document have been compiled or arrived at by Akbank from sources believed to be reliable and in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy, completeness or correctness. All opinions and estimates contained in this document constitute the Company’s judgement as of the date of this document and are subject to change without notice. The information contained in this document is published for the assistance of recipients, but is not to be relied upon as authoritative or taken in substitution for the exercise of judgement by any recipient. The Company does not accept any liability whatsoever for any direct or consequential loss arising from any use of this document or its contents. This document is strictly confidential and may not be reproduced, distributed or published for any purpose. 31