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İŞBANK

ANNUAL REPORT 2014

Consolidated

ASSETS (TL thousand)

2010/12 2011/12

2012/12 2013/12 2014/12

Cash and Equivalents

1,262,764 1,260,374 1,779,460 2,257,090 2,586,183

Banks and Receivables from Interbank Money Markets

(1)

13,719,134 17,545,722 18,965,235 26,479,037 28,827,380

Securities (Net)

51,814,331 48,720,930 44,782,722 43,651,041 48,248,088

Loans

(2)

69,409,124 99,432,775 115,733,719 146,136,030 169,066,501

Associates and Subsidiaries (Net)

3,541,421

3,979,038 4,398,434 4,174,551

5,611,155

Receivables from Finance Lease (Net)

963,265 1,376,390 1,384,455 2,034,122 2,746,199

Fixed Assets (Net)

3,352,137 3,384,754 3,511,410 3,938,176 4,221,990

Other Assets

6,748,560 8,235,847 10,519,304 12,949,093 14,468,937

Total Assets

150,810,736 183,935,830 201,074,739 241,619,140 275,776,433

LIABILITIES (TL thousand)

2010/12 2011/12 2012/12 2013/12 2014/12

Deposits

88,476,619 98,831,996 106,010,860 121,837,798 134,501,226

Funds Borrowed and Interbank Money Market Placements

(3)

27,526,352 45,121,027 44,483,302 65,397,271 78,385,798

Provisions

7,560,506 8,713,868 10,260,057 10,918,968

12,083,515

Other Liabilities

8,260,604 10,958,370 15,461,765 17,570,477 19,093,433

Shareholders’ Equity

18,986,655 20,310,569 24,858,755 25,894,626 31,712,461

Total Liabilities

150,810,736 183,935,830 201,074,739 241,619,140 275,776,433

INCOME STATEMENT

(4)

(TL thousand)

2010/12 2011/12 2012/12 2013/12

2014/12

Interest Income

10,850,750 12,081,352 14,676,856 14,853,908 17,752,690

Interest Expenses

5,440,180 6,664,356 7,834,591

7,172,014 9,282,281

Net Interest Income

5,410,570 5,416,996 6,842,265 7,681,894 8,470,409

Net Trading Income

292,912

446,913

871,070

378,591

664,128

Net Fees and Commissions Income

997,891

1,102,726 1,258,319 1,468,946 1,505,183

Dividend Income

45,785

171,477

205,032

238,057

292,047

Other Operating Income

4,031,367 4,070,527

4,571,878 4,625,333 4,850,945

Total Operating Income

10,778,525 11,208,639 13,748,564 14,392,821 15,782,712

Operating Expenses

5,671,987

6,615,795 7,783,373 8,308,239 9,515,404

NET OPERATING PROFIT/LOSS

5,106,538 4,592,844 5,965,191

6,084,582 6,267,308

Provision for Losses on Loans and Other Receivables

1,185,911

1,494,935

1,291,545

1,654,701

1,530,113

PROFIT/(LOSS) BEFORE TAXES

3,920,627 3,097,909 4,673,646 4,429,881

4,737,195

Provision for Taxes

688,933

708,541

958,912

823,022 1,005,159

NET PERIOD PROFIT/(LOSS)

3,231,694 2,389,368 3,714,734 3,606,859 3,732,036

KEY RATIOS (%)

2010/12 2011/12 2012/12 2013/12 2014/12

Interest Earning Assets

(5)

/ Total Assets

89.7

90.5

89.7

90.1

90.0

Interest Earning Assets

(5)

/ Interest Bearing Liabilities

116.7

115.7

119.8

116.3

116.5

Securities / Total Assets

34.4

26.5

22.3

18.1

17.5

Loans / Total Assets

46.0

54.1

57.6

60.5

61.3

Loans / Deposits

78.1

100.2

108.2

119.2

124.6

Retail Loans / Total Loans

28.7

25.9

26.8

26.7

25.5

NPL Ratio

3.4

2.1

1.8

1.7

1.6

Coverage Ratio

100.0

100.0

76.8

77.9

74.3

Demand Deposits / Total Deposits

16.6

19.3

20.1

21.5

22.4

Shareholders’ Equity / Total Liabilities

12.6

11.0

12.4

10.7

11.5

Capital Adequacy Standard Ratio

17.6

14.1

16.3

14.3

15.3

Return on Average Assets

(6)

2.3

1.4

1.9

1.6

1.5

Return on Average Equity

(6)

19.3

12.1

16.7

14.3

13.3

Cost / Income

(7)

42.0

48.4

47.1

49.1

51.3

OTHER INFORMATION (TL thousand)

2010/12 2011/12 2012/12 2013/12 2014/12

Regulatory Capital

19,350,844 21,187,094 27,325,571 30,567,360 37,497,307

Core Capital

17,982,133 19,841,319 22,715,413 25,607,957 31,535,610

Free Capital

(8)

12,160,810 13,021,182 16,535,929 17,332,191 21,295,942

Demand Deposits

14,688,893 19,054,431 21,346,638 26,161,926

30,101,859

(1)

Includes Deposits at the Central Bank and Reserve Requirements

(2)

Excludes Receivables under Follow-up

(3)

Includes TRY, FC bond issuances and subordinated debts

(4)

Fees and Commissions Received from Cash Loans are shown under Interest Income; Fees and Commissions Paid to Cash Loans are shown under Interest Expense.

(5)

Interest Earning Assets include TRY and FC reserves at Central Bank, which are currently paid 0% interest.

(6)

Averages are calculated over quarter figures.

(7)

Free Equity = Shareholders’ Equity - (Fixed Assets+Non-Financial Associates and Subsidiaries+Receivables Under Follow-Up-Specific Provisions)

FINANCIAL HIGHLIGHTS AND KEY RATIOS

FOR THE FIVE-YEAR PERIOD