Annual Report Compliance Opinion

To the Shareholders of Türkiye İş Bankası Anonim Şirketi:

We have audited the accuracy and the consistency of the financial information in the annual report of Türkiye İş Bankası Anonim Şirketi (“the Bank”) with the audited financial statements as of 31 December 2011. The annual report is the responsibility of the Bank’s management. Our responsibility, as independent auditors, is to express an opinion on the annual report based on our audit.

Our audit was conducted in accordance with the regulations on preparation and issuance of annual report in (Turkish) Banking Law No 5411 and independent auditing principles. Those regulations require that we plan and perform the audit to obtain reasonable assurance regarding whether the consistency of financial information represented in the annual report with the audited financial statements and explanatory notes is free of material misstatement. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

In our opinion, the financial information represented in the accompanying annual report represents fairly, in all material respects, the information regarding the financial position of Türkiye İş Bankası Anonim Şirketi as of 31 December 2011 in accordance with the effective regulations described in article 40 of (Turkish) Banking Law No 5411 and includes Independent Auditors’ Report issued by us and Summary of Board of Directors’ Report and is consistent with the audited financial statements and explanatory notes.

 

İstanbul,
6 March 2012