İşbank 2009 Annual Report

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Management and Corporate Governance at İşbank

Financial Information and Assessment on Risk Management

Consolidated Financial Statements

Board of Directors & Auditors

Executive Committee

Organization Chart

Managers of Internal Systems

Information About the Meetings of the Board of Directors

İşbank Committees

Human Resources Functions at İşbank

Information on the Transactions Carried out with İşbank’s Risk Group

Activities for which Support Services are Received in Accordance with the Regulation on Procurement of Support Services for Banks and Authorization of Organizations Providing this Service

İşbank’s Dividend Distribution Policy

Agenda of the Annual General Meeting

Report of the Board of Directors

Auditors’ Report

Dividend Distribution Proposal

Corporate Governance Principles Compliance Report

Audit Committee’s Assessments on the Operation of Internal Control, Internal Audit and Risk Management Systems, and Their Activities in the Reported Period

Independent Auditors’ Report

Unconsolidated Financial Statements

Financial Highlights and Key Ratios for the Five Years Period Including the Reported Period

Explanations on İşbank’s Financial Condition, Profitability and Solvency

Information on Risk Management Policies Applied per Risk Types

İşbank’s Credit Ratings

The Unconsolidated Year End Financial Report as of December 31, 2009

Information to Shareholders

Board of Directors & Auditors

	CANER ÇİMENBİÇER Chairman Born in Bursa in 1952, Caner Çimenbiçer graduated from the Business Administration Department of Faculty of Administrative Sciences, Middle East Technical University. He started his professional career at Koç-Burroughs in 1973. In 1974, he started his career at İşbank as an Assistant Inspector. He was appointed to İşbank’s Accounting Department as an Assistant Manager, Group Manager and Head of Accounting Department. He became Deputy Chief Executive in 1990, and Senior Deputy Chief Executive on October 28, 1998. He also served as the acting CEO. Besides his post at İşbank, Caner Çimenbiçer served as a Board Member at 20 various sector companies such as, VISA EU, The Interbank Card Center, Istanbul Stock Exchange and Aria and he served as a Chairman at 14 various companies such as MAN A.Ş., İzmir Demir Çelik Sanayi A.Ş., İşbank GmbH, Petrol Ofisi A.Ş. and Millî Reasürans T.A.Ş. since 1983. He was appointed to İşbank’s Board as a member on March 31, 2005 and on March 28, 2008 respectively. Caner Çimenbiçer, who is the Chairman of İşbank, is also the Chairman of İşbank Audit Committee, the Turkish Republic of Northern Cyprus Internal Systems Committee of İşbank and responsible for İşbank’s Board of Inspectors.
	H. FEVZİ ONAT Vice Chairman Born in Ankara in 1959, H. Fevzi Onat graduated from the Economics Department of the Faculty of Social and Administrative Sciences, Hacettepe University. He started his professional career at İşbank as an Assistant Inspector in 1981. He was appointed to İşbank’s Corporate Loans Department as an Assistant Manager and as a Regional Manager. Then, he was appointed as the Head of Credit Information and Financial Analysis Department and later Corporate Loans Department and then he became Yenişehir/Ankara Branch Manager. He was appointed as Deputy Chief Executive in 2002. H. Fevzi Onat was appointed to İşbank’s Board of Directors on March 28, 2008. He is Deputy Chairman of the İşbank’s Board of Directors and also Head of Risk Committee and member of the Credit Committee and the Director in charge of Internal Systems.
	H. ERSİN ÖZİNCE Member of the Board and Chief Executive Officer H. Ersin Özince was born in 1953. His banking career began in 1976 at İşbank by joining the Board of Inspectors after graduating from Middle East Technical University in Ankara with a BS degree in Management in 1975. After working at various managerial positions at İşbank, Ersin Özince was promoted to the post of Deputy Chief Executive in 1994 and until he became the CEO of İşbank in 1998, his responsibilities encompassed the Treasury, Financial Management, Capital Markets, Commercial Loans and the Credit Information and Financial Analysis Departments of the Bank. Ersin Özince was elected as Chairman of the Banks’ Association of Turkey on May 31, 2002. He is the Chairman and the member of the Board of Directors of Industrial Development Bank of Turkey (TSKB), a member of the Board of Directors of Vehbi Koç Foundation and The Turkish Foundation for Combating Soil Erosion, for Reforestation and the Protection of Natural Habitats (TEMA) along with his memberships at Institut Internationale d’Etudes Bancaires (IIEB), The Institute of International Finance (IIF), Turkish Industrialists’ & Businessmen’s Association and The Board of Trustees of Bilkent University and Education Volunteers Foundation of Turkey. Also he is an Advisory Board Member of World Wildlife Fund-Turkey (WWF).
	PROF. DR. SAVAŞ TAŞKENT Member of the Board Born in İyidere in 1943, Prof. Dr. Savaş Taşkent graduated from the Faculty of Law, İstanbul University. He started his academic career as an assistant in 1971, in the Department of Law of The Faculty of Basic Sciences, İstanbul Technical University. He received his Ph.D. degree from the Faculty of Law of İstanbul University in 1980, and became assistant professor at İstanbul Technical University, Faculty of Management Science and Engineering and associate professor in the Department of Labour and Social Security Law and professor in 1990, in the same Department. He served as the vice-dean and the vice-rector. He served as an advisor to the Ministry of Labour and Social Security and attended ILO Conferences in Geneva as the advisor to the Government. He is currently a professor in Management Department of Faculty of Management, in İstanbul Technical University. Prof. Dr. Savaş Taşkent was appointed to İşbank’s Board on March 31, 2005, and on March 28, 2008. He is also the Member of İşbank Audit Committee and the member of the Turkish Republic of Northern Cyprus Internal Systems Committee of İşbank.
	İSMET ATALAY Member of the Board Born in Göle in 1937, İsmet Atalay graduated from the Faculty of Law, İstanbul University. He started his professional career as an independent lawyer in Kars and served as Kars Provincial Chairman of Republican People’s Party (CHP) for 10 years. He entered to the Turkish Parliament (TBMM) as a representative of Kars in 1977, of Ardahan in 1995 and of İstanbul in 2002. In CHP, he served as a member of the Group Board, the General Administrative Committee, and the Central Executive Committee, and as a General Accountant. He is serving as a member of Party’s District Committee. İsmet Atalay was appointed to İşbank’s Board of Directors on March 28, 2008 and he is also member of the İşbank’s Social Responsibility Committee.
	TÜLİN AYKIN Member of the Board Born in İzmir in 1963, Tülin Aykın graduated from the Industrial Engineering Department of Boğaziçi University. She started her professional career at İşbank as an Assistant Specialist in 1986. She was appointed to İzmir Branch as a Branch Assistant Manager and became the Manager of the Aegean I. Regional Department. She was appointed as the Head of İşbank’s Human Resources Department and later, as İzmir Branch Manager. She became Deputy Chief Executive in 2006. Tülin Aykın was appointed to İşbank’s Board of Directors on March 28, 2008 and she is also member of the İşbank’s Social Responsibility Committee and deputy member of the Credit Committee of İşbank.
	TUNCAY ERCENK Member of the Board Born in Şanlıurfa in 1950, Tuncay Ercenk graduated from the Faculty of Law, İstanbul University. Between 1978 and 2002, he worked as an independent lawyer in Antalya. Between 2002 and 2007, he was a member of the Turkish Parliament (TBMM) as a representative of Antalya and he served as a member of the Parliament’s Commission of Constitution. He is currently member of the Republican People’s Party (CHP). Tuncay Ercenk was appointed to İşbank’s Board of Directors on March 28, 2008.
	ADNAN KESKİN Member of the Board Born in Denizli in 1942, Adnan Keskin graduated from the Faculty of Law, Ankara University. He started his professional career as an independent lawyer in Denizli in 1970 and served as Denizli Provincial Chairman of Republican People’s Party (CHP) from 1972 to 1977. He entered to the Turkish Grand National Parliament as a representative of Denizli in 1977, in 1987, in 1991 and in 1995. Until 1992, he served as Denizli Provincial Chairman of Social Democratic Party (SODEP), after union of SODEP and Social Democratic Populist Party (SHP) became SHP’s Denizli Provincial Chairman and Vice General Secretary. After reopening of CHP, he served as a Vice President and General Secretary. He also served as a Ministry of Public Works and Settlement in 1995 and he is currently member of the Republican People’s Party. Adnan Keskin was appointed to İşbank’s Board of Directors on March 28, 2008.
	ALİ SÖZEN Member of the Board Born in Gürün in 1934, Ali Sözen graduated from the Faculty of Law, İstanbul University. Between 1967 and 2000, he worked as an independent lawyer. He was a member of SODEP City Board of Directors between 1983 and 1986. He has been member of CHP since 1994. Ali Sözen was appointed to İşbank’s Board of Directors on March 28, 2008.
	FÜSUN TÜMSAVAŞ Member of the Board Born in Ankara in 1957, Füsun Tümsavaş graduated from the Economics and Finance Department of Ankara University, Faculty of Political Sciences. She started her professional career at Central Bank of the Republic of Turkey’s Ankara Branch in 1979. In 1981, she started to work at İşbank’s I. Loans Department as a candidate officer and became assistant superintendent at the same department and then she became an Assistant Loan Specialist. She was appointed to İşbank’s I. Loans Department as an Assistant Manager in 1994, as a Regional Manager in 1999, and to the Commercial Loans Department as Manager in 2004. Füsun Tümsavaş was appointed to İşbank’s Board of Directors on March 28, 2008 and she is also member of the Credit Committee of İşbank.
	HASAN KOÇHAN Member of the Board Born in Trabzon in 1957, Hasan Koçhan graduated from the Ankara Academy of Economic and Commercial Sciences, Banking Insurance Trade Institution of Higher Education, Banking Department. He started his professional career at İşbank’s Maçka/Trabzon Branch in 1984 and was appointed as an assistant superintendent to Bayburt Branch, Yomra/Trabzon Branch, Bulancak/Giresun Branch and Trabzon Branch. After serving at Trabzon Branch as second manager and assistant manager, he was appointed to Park/Trabzon Branch, Ordu Branch, Gaziantep Branch and İzmit/Kocaeli Branch as a Branch Manager. Hasan Koçhan was appointed to İşbank’s Board of Directors on November 3, 2008 and he is also alternate member of the Credit Committee of İşbank.
	PROF. DR. TURKAY BERKSOY Auditor Born in Elazığ in 1951, Prof. Dr. Turkay Berksoy graduated from İstanbul Academy of Economics and Commercial Sciences in 1975. He started his academic career in the School of Political Sciences, İstanbul Academy of Economic and Commercial Sciences at the same year. He received his M.A (in economics) from Boğaziçi University, and his Ph.D. (in finance) from Marmara University, the Faculty of Economics and Administrative Sciences. He was visiting lecturer at University of East Anglia School of Development Studies, England, assistant professor and associate professor at Finance Department of the Faculty of Economics and Administrative Sciences, Marmara University. He became professor in 1993. He served as the co-head of finance department, vice director and acting director of the Institute of Social Sciences, the vice dean and acting dean in the Faculty of Economics and Administrative Sciences of Marmara University. He was administrative board member and faculty committee member at the same faculty. In addition to his posts at university, he was adviser to Şekerbank, Turkish Eximbank and Emlakbank and he served as board member at various corporations. He is currently a professor and the chairman of the board of directors at the Center of Finance Research and Application, Marmara University and he is also the chairman of the Finance Department at the Faculty of Economics and Administrative Sciences, at the same university, since 1998 and also Ministry of Finance Tax Council member. Prof. Dr. Turkay Berksoy is İşbank’s Auditor since March 31, 2005.
	A. TACİSER BAYER Auditor Born in İstanbul in 1953, A. Taciser Bayer graduated from Faculty of Economics, İstanbul University. She started her professional career at İşbank’s Arapcamii Branch as a candidate Officer in 1973. She became assistant superintendent at Kadıköy/İstanbul Branch and Necatibey/Ankara Branch. She was appointed to İşbank’s Corporate Loan Department, she became a Superintendent, a Second Manager and an Assistant Manager at the same branch. She was appointed to Secretariat to the Board of Directors. She became an Assistant Manager, Group Manager and Manager at the same department. A. Taciser Bayer retired on February 27, 2009 and was appointed as İşbank’s Auditor at the General Assembly on March 31, 2009.