Akbank T.A.S.

AKBANK T.A.S.

Akbank was founded in Adana in January 1948, originally to provide financing for the cotton producers in the region. Growing and developing over time, the Bank opened its first branch in Istanbul in the Sirkeci district on July 14, 1950; in 1954, it relocated its Headquarters to Istanbul. Rapidly increasing the number of its branches, Akbank automated all banking operations in 1963.

Akbank established Ak Securities in 1996, Ak Investment Fund in 1998, Ak Asset Management Company and its Private Banking Department in 2000. Akbank established Ak Pension Fund in 2003 and incorporated Ak Leasing in 2005. In February 2006, Ak Pension Fund was sold to the Aksigorta insurance company.

As of the end of 2007, Akbank ranked as Turkey's most valuable bank having the most profitable banking operations among privately owned banks in Turkey. In addition, with its extensive branch network, Akbank is one of the largest banks in Turkey in terms of loan volume.

Together with its core banking activities, Akbank offers a wide range of retail, commercial, corporate, private banking and international trade finance services. Non-banking financial services, as well as capital market and investment services, are provided by the Bank's subsidiaries. Equipped with state-of-the-art IT systems and a staff of experienced bankers, Akbank focuses on providing top quality services to a wide range of retail and corporate customers.

With its strong and extensive domestic distribution network that includes 868 branches and more than 15,000 employees, Akbank operates through its headquarters in Istanbul and 20 regional directorates around Turkey. Akbank provides services not only through its traditional delivery channels such as its branches, which include "Credit Express" consumer loan only branches and "Big Red House" mortgage loan only branches, but also through Retail and Corporate Internet Branches, the Telephone Banking Center, 2,318 ATM's, 250,615 POS terminals and its new high-tech channels such as cell phones and web-based platforms. Additionally, Free Banking Areas have been set up inside branches in which customers have access to both Internet and telephone banking services. Akbank NV in the Netherlands and Akbank AG in Germany, as well as a branch in Malta, carry out Akbank's overseas operations.

On January 9, 2007, Akbank and Citigroup have successfully completed the strategic partnership agreement according to which Citigroup acquired a 20% equity stake in Akbank for approximately US$ 3.1 billion (TL 0.095 per share). This strategic partnership with Citigroup contributed dearly to the development of new commercial banking activities, to the improvement of available products and to the development of new products.

With a strong capital base, stable deposit structure, ability to generate low-cost funding from overseas as well as robust growth in total assets, Akbank has demonstrated the most profitable banking operations among privately owned banks in Turkey As of year-end 2008, Akbank’s consolidated net profit reached YTL 1,782 million (approximately US$ 1,171 million) and its total assets were YTL 93,093 million (approximately US$ 61,173 million). The Bank’s Capital Adequacy Ratio of 17.0% is one of the highest in the sector.

Akbank is listed on the Istanbul Stock Exchange (ISE) where 25% of its outstanding shares are publicly traded. In addition, the Bank’s Level 1 depository receipts are traded on the London IOB as well as on the OTC market in the US. As of December 31, 2008, Akbank had the highest market capitalization with US$ 9,423 million, among the banks listed on the ISE.

Moody’s has assigned the highest Baseline Credit Assessment in Turkey to Akbank, of Baa1. Akbank continued to receive the highest ratings in 2008 in Turkish banking sector.

INTERNATIONAL AWARDS AKBANK HAS RECEIVED IN 2008

EUROMONEY

2008 Best Private Banking of the Year

GLOBAL FINANCE

2008 Best Bank of Turkey
2008 Best Bank in Developing Markets
2008 Best Bank for Foreign Trade Finance Services
2008 Best Bank for Foreign Exchange Transactions