1

Investor Presentation

November 2004

2

•Strategy 3

•Products 5

•Profitability Improvements 15

•Annex 21

Agenda

3

Strategy

Customer–driven balance sheet and income statement

Emphasis on consumer and SME segments

Emphasis on higher margin products

Significant increase in fee and commission income

Further increase in operational efficiency

4

•Strategy 3

•Products 5

•Profitability Improvements 15

•Annex 21

Agenda

5

Controlling 14% of all customer’s assets

3.4

10.1

15.4

12.0

12.15.9

7.0

1.00.52.5

3Q03 3Q04

TL Deposits

FX Deposits

Bonds in Custody

Mutual Funds

Repo

31.0

38.9BRSATL ‘000 trillion

Akbank’s client money increased 26% y-o-y, over the sector’s 18% growth

26%

6

703

2,0162,280

11.7

14.414.5

250

500

750

1000

1250

1500

1750

2000

2250

2500

2002 2003 3Q04

-1

1

3

5

7

9

11

13

15

Mutual Funds (USD million)

Asset management

Akbank ranks second among all fund managers

in Turkey

The underlying factors behind this performance

are; Superior asset management performance Superior channel management Effective marketing and communication

3,433

908

3,976

2002 2003 3Q04

Private Banking Assets (USD million)

16% Wide range of domestic and

international investment products

Top quality investment advisory service

Already 9 private banking centers in

urban high-income areas

Volume (USD million) Market share (%)

7

23.2% 25.3% 25.8%

16.0% 16.2% 17.2%

39.2% 34.7% 34.6%

19.5% 18.6% 16.9%

28.1%8.4%

22.9%

6.6%

28.7%

50.4%

15.5%28.6%

2002 2003 1Q04 2Q04 3Q04

Consumer SME Corporate Project Finance

Breakdown of Loans (%)

Consumer and SME lending is now 51% of total loans

8

16.7%

26.7%

12.7%

0

5

10

15

20

25

30

Mortgage loans Consumer loans Car Loans

Consumer Loans* (market share, %)

Consumer loans

* Excluding credit cards

Volume (USD million)

Previous periods are not given due to a one time correction in the market

data by the Central Bank

199

1,348

736

Akbank continues to grow its market share in consumer loans

3Q04

9

1,8981,658

2,130

18.7%19.0% 18.7%

0200400600800

10001200

1400160018002000220024002600

Q1 Q2 Q3

10.00%

12.00%

14.00%

16.00%

18.00%

20.00%

1,278

1,033

1,501

13.6%

11.9%12.9%

0

200

400

600

800

1000

1200

1400

1600

1800

Q1 Q2 Q3

0.00%

5.00%

10.00%

15.00%

201

862

524

8.1

11.412.3

150

300

450

600

750

900

1050

2002 2003 3Q04

0

5

10

Credit Card Loans (market share, %)Credit Cards Issuing Volume (market share, %)

Salient performance in credit cards*

Approx. 1% market share gain per quarter in issuing

65% increase in credit card loans 3.0 million credit cards by 3Q04

Acquiring Volume (market share, %)

* Amex is included

Volume (USD million) Market share (%)

10

727

394

2003 3Q04

SME lending - commercial

Medium size companies with sales turnover btw. USD 30–2 mn are serviced through our commercial banking unit

There is already 36 commercial banking centers in 11 provinces and we are targeting to add approx. 10 more in a year

Commercial loans (USD million)

Commercial loans are also considered as a hook product, which paves the way for further marketing opportunities like credit cards and car loans

1.8

4.5

0

1

2

3

4

5

6

2003 3Q04

Cross sell ratio (%)

85%

11

952

569

142

2002 2003 3Q04

SME lending - small businesses

Small business loans, which are given to companies with sales turnover <USD 2 mn are granted by the retail banking unit

Special credit packages for; Certain sectors and regions (pharmaceuticals, agriculture, tourism etc.) Dealer networks of corporate clients (ie. Microsoft, IBM, Bosch, Arçelik)

Small Business Loans* (USD million)

67%

* Monthly average

Only 4% in FC

12

Over 38,000 cards by September 2004 Effectively used by 72 companies,

including Coca Cola, Exxon Mobil, Philip Morris, Temsa (Mitsubishi) and Hedef Alliance

An effective cash management tool

# of Business Cards – biz. card

38,45036,705

23,900

13,054

8,760

28,507

Aug'03 Sept'03 Dec'03 Mar'04 Jun'04 Sept04

Benefits to supplier/distributor Centralized collections and payments Saving time and money by eliminating

cash / checks Streamlined operations

Benefits to card member On-line management systems Efficient payment processing Elimination of cash / checks Extra liquidity / increased sales volume

13

Corporate banking

Akbank has traditionally been the “House Bank” of multinationals in Turkey

Corporate loans that has been extended to blue-chip companies like Ford,

Unilever, Carrefour, Dimon stood at USD 2.3 billion

Akbank’s leadership continues in project finance. USD 1.2 billion of loans

have been extended to projects like irrigation, highway and natural gas

pipeline construction

Along with core products, Akbank offers special and structured financial

solutions for corresponding corporate needs. In this context, Akbank also

offers cash management products regulating the collection and payment cycle

of companies

Blue-chip companies provide excellent cross-sell opportunities (3.6x)

14

•Strategy 3

•Products 5

•Profitability Improvements 15

•Annex 21

Agenda

15

99100

8683

32

49 51

1Q03 2Q03 3Q03 4Q03 1Q04 2Q04 3Q04

Net Fees & Commissions (BRSA, TL trillion)

Net fees and commissions

Net fees and commissions increased 116% in real terms due to the rapid growth in

credit cards and consumer loans

Credit cards contribution to fee income rose to 52% from 51% q-o-q

116%

Fees and commissions revenue contribution* (%)

*Bank only - excluding commissions from cash and non-cash loans

23%52%

6%

12%

7%

Credit cards commissions

Asset management

fees Money transfer fees

Other

Consumer loan

related

16

15.0

22.4

44.5

0

10

20

30

40

50

60

3Q02 3Q03 3Q04

Net fees & commissions/operating expense

5.7 5.7

15.1

0

5

10

15

20

25

3Q02 3Q03 3Q04

Net fees & commissions/operating income

Improving fee income ratios in line with targets

We are rapidly approaching our medium term fee to income target of 20%

Fee to expense ratio will continue to rise as fee income will continue to grow while

expense growth will be moderate

Source : BRSA figures

17

Branches are becoming more sales focused

Number of Branch Staff

2003

1,802

1,874

3,252

2,011

1,300

2006

31%50%

5,8686,653

2001

613

2,283

2,590

5,486

2,192

11%

Operation Teller Sales

Tellers will contribute

to sales

The number of back office staff in branches, which was 2,590 in 2001 has been reduced due to centralization of operations

Growth in sales staff is not detrimental to personnel costs as their variable salary is based on performance targets

18

State of the art and widely used alternative channels (65% of all transactions)

Other 11% of all transactions were directed to ADC

in 1.5 years (branch share 46% to 35%) USD 6.5 mn. income from alternative delivery

channel commissions by Sept. 04 “Freedom Banking Zones” in 250 branches

ATM & BTM 1,440 ATM’s are being rebranded 125 cash-in/out ATMs (Branded as BTM-

Beyond Teller Machine). The remaining branch ATM’s will be converted in 2005

Call Center 13.5 mn calls in the period of Jan-Sept. 2004 More than 1 mn. customers since Dec’02 Quick and easy access with increased line

capacity and renewed menus Enriched set of transactions on IVR Fast authentication: “Customer No = Mobile

No” for the callers from mobile phones

Internet Fully reflects the new corporate identity One of the most visited sites in Turkey

3 mn. visitors / month) State of the art investment services User friendly design for easy access

(e.g “One password for all channels”) Over 9 mn. transactions / month Over USD 4 bn. volume / month

19

2.6

2.92.6

3Q03 YE03 3Q04

25.4

27.4

33.9

20

40

3Q03 YE03 3Q04

Operating expense/operating income (%)

Efficiency ratios

Centralization together with the new technology infrastructure allows us to keep operational costs subdued

Performance based compensation and profitability measurement systems will contribute to further efficiency

Source : BRSA figures

Operating expense/average assets (%)

20

•Strategy 3

•Products 5

•Profitability Improvements 15

•Annex 21

Agenda

21

TOTAL ASSETS

Cash and Due from Banks

Securities

Loans

TOTAL LIABILITIES

Deposits

Funds Borrowed

TOTAL EQUITY

BRSA(TL Trillion)* 20033Q04 20033Q04

Shares (%)

Balance sheet highlights

32,953

1,744

14,944

11,874

27,140

20,212

4,751

5,813

32,231

1,684

15,398

9,529

26,719

20,883

3,988

5,512

5

45

36

61

14

18

5

48

30

65

12

17

* Amounts are expressed in terms of the purchasing power of TL at 30 September 2004

22

Income statement highlights

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)

Operating Profit

Operating Expenses

Monetary Loss

Income Before TaxTax

Net Income

BRSA (TL Trillion)* 3Q033Q04

3,235

(1,348)

1,887

(96)

(90)

1,701

286

254

2,443

(697)

(406)

1,260

(376)

884

3,784

(1,670)

2,114

123

(34)

2,203

132

276

2,715

(640)

(303)

1,737

(596)

1,141

* Amounts are expressed in terms of the purchasing power of TL at 30 September 2004

23

TOTAL ASSETS

Cash and Due from Banks

Securities

Loans

TOTAL LIABILITIES

Deposits

Funds Borrowed

TOTAL EQUITY

BRSA*(USD million) 20033Q04 20033Q04

Shares (%)

21,794

1,154

9,882

7,853

17,950

13,368

3,142

3,844

* Figures are stated with exchange rates effective at respective dates

Balance sheet highlights in USD

20,654

1,079

9,868

6,107

17,121

13,382

2,555

3,533

5

48

30

65

12

17

5

45

36

61

14

18

24

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)

Operating Profit

Operating Expenses

Monetary Loss

Income Before Tax Tax

Net Income

BRSA* (USD million) 3Q033Q04

2,141

(894)

1,247

(63)

(59)

1,126

189

168

1,616

(461)

(268)

834(249)

585

Income statement highlights in USD

* Figures are stated with exchange rates effective at respective dates

2,396

(1,057)

1,339

78

(22)

1,395

84

175

1,719

(405)

(192)

1,100(377)

722

25

Akbank’s dividend policy

For the purpose of optimizing the Bank’s capital structure, Akbank has

formulated a new dividend policy

Effective on its 2003 financials, Akbank will pay minimum 30%, maximum 50%

of the net distributable profit to its shareholders who are described in its articles

of corporation, as cash dividend. This policy will be dependent on relevant

market conditions and sustenance of a comfortable level of capital adequacy

ratio

26

5,512 5,813

2003* 3Q04

Total Equity (BRSA, TL trillion)

AKBANK

Strong equity growth driven by strong profits

Akbank will optimize its capital structure through its dividend policy of 30% min. - 50% max.

cash dividend payment

Free Capital 1H04 (BRSA, TL trillion)

Free capital comparison

* 2003 figures are restated with WPI

4,309

-331-308-161-500

1,000

2,500

4,000

5,500

7,000

Akbank İş Garanti YKB

Free Capital Equity Participations Fixed Assets

27

Financial strength approved by ratings

Akbank

Garanti

İş Bankası

YKB

Moody’s

Financial Strength Rating

FitchRatings

National Rating

D+**

D+*

D

E

FitchRatings

Individual Rating

AA-

A

A

BBB+

C

C/D

C/D

E

* Negative outlook

** Positive outlook

28

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.

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