2018 Q1Investor Presentation

Albaraka Türk Participation Bank15 May 2018

Agenda

1 Introduction

2 Financial Highlights

Appendix4

3Market Comparison

Turkey Macroeconomic Developments

Turkey still serves many advantages for investors4

Source: IMF, UN, TURKSTAT, Albaraka Turk Research&Strategy

20%

70%

120%

20

01

20

03

20

05

20

07

20

09

20

11

20

13

20

15

20

17

F

20

19

F

20

21

F

General Government Debt Stock/GDP

Advanced economies

Emerging and developing economies

Turkey

27 32 37 42 47

TurkeyBrazilChina

USARussia

PolandUK

EuropeNetherlands

GreeceSwitzerland

GermanyJapan

Median Age

Despite failed coup attempt on July 2016, the policy stimulus and the

resilience of the economy pushed the Turkish economy to strong growth.

The share of Turkish economy within the world has been continuously

increasing, as GDP growth rate estimates has been revising upwards thanks

to strong expansionary policy mix and strong exports. Turkish economy

recorded the fastest growth at 7.4% in 2017 among G20 countries, including

China.

Despite heavy global and geopolitical issues and rising borrowing costs,

Turkey’s strong macro fundemantals still serves great advantages for its

investors compared to its peer countries via young population, well-

capitalized banking sector and existing cheap valuations. On the other hand,

tourism sector recorded a strong performance has been starting from 2017

through safe security climate and undervalued TL.

Public debt stock has continuously fallen during 2015, contrary to advanced

and emerging countries’ averages. On the back of existing wide fiscal room in

Turkey, fiscal policy priorities continue to focus growth-oriented incentives

especially for exporters.

1.18

1.72

1,11,21,31,41,51,61,71,8

19

80

19

83

19

86

19

89

19

92

19

95

19

98

20

01

20

04

20

07

20

10

20

13

20

16

20

19

F

Turkey's share within the world GDP

(PPP, %)

4,8% 4,9%-0,8%

4,2%

5,4% 5,4%

11,3%

7,3%7,0%

Q1 Q2 Q3 Q4

YoY GDP Growth Rates

2016 2017 2018

Ongoing Robust Growth and Attractive Valuations

5

Source: TURKSTAT, WTO, BIS, Albaraka Turk Research&Strategy

Turkish economy continues to record one of the strongest growth among G20

countries, with around 7% (YoY) growth in the first quarter of 2018. That being

said, GDP growth rate may normalize to 4.5% in the rest of the year due to high

base effect and slowdown signs in EU countries. Under current circumstances,

main challenge for Turkish economy is pulling inflation to low-single digit levels

again. Inflation will remain high in 2018 but the Central Bank of Turkey has been

trying to ease pressures via rising its effective funding rate. Year-on-year

inflation dropped from 13% in November 2017 to 10.85% in April 2018, and

market expects to fall to 10% at the end of 2018. Risks are tilted upside on the

back of still high domestic demand, inertia and lagged effects of undervalued TL.

As a result of the Transition Program to Sustainable Growth and strong recovery

in EU countries, Turkey’s exports share within the world reached its record level

in 2017. The Government is trying to sustain further improvement in exports

through implementing structural reforms and strong incentives for exporters.

The volatility of Turkish Lira eased as global factors started to be more

supportive. Looking ahead, considering sustainable current account deficit path,

significantly undervalued TL and recently emerging market friendly

environment, TL denominated assets are expected to diverge positively from its

peers.

REER (Deviation from 10 Year Avg. as of 1Q2018)

Undervalued

Overvalued

0,81%

0,82%

0,97%

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

16

20

17

Turkey's Exports Share Within

The World

-21,7%-18,7%

-12,2%-11,7%-11,5%-9,4%-9,1%

-5,4%-4,5%-4,4%-3,2%

-0,7%3,5%

5,7%6,5%

11,8%

-30% -20% -10% 0% 10% 20%

TurkeyArgentina

JapanCanadaMexicoRussia

SwedenIndonesia

BrazilHungary

UKEurozone

IndiaS. Arabia

UAEChina

Turkey Macroeconomic Developments

9,58%

10,53%

11,29%

11,87%

11,72%10,90%

9,79%

10,68%11,20%

11,90%

12,98%

11,92%

10,35%

10,26%10,23%

10,85%

7,00%

9,00%

11,00%

13,00%

Inflation

2017 2018

6

GDP Growth

Turkish economy expanded by 7.3% yoy in the last quarter of the year,

according to the chain volume index. This performance was in line with market

expectations. Third quarter growth was revised up to 11.3% from 11.1% and

first quarter growth up to 5.4% from 5.3%. In the whole year, Turkish economy

posted a growth rate of 7.4%, well above the expectations which prevailed

during early 2017. Along with the stimulus measures, the upturn in domestic

consumption and investments led this robust growth performance in 2017.

2,5%3,8% 4,0%

5,7%

4,5%5,3%

-1,3%

3,5%

5,3% 5,4%

11,1%

7,3%

Q1 Q2 Q3 Q4

GDP Growth

2015 2016 2017

Inflation

The downward trend in annual inflation since the beginning of 2018 came to an

end in April. Annual CPI inflation was realized as 10.85% in April. In April, prices

in all major spending groups excluding food and non-alcoholic beverages and

communication, increased on a monthly basis. In this period, while clothing and

footwear made the highest contribution to the monthly inflation, transportation

also played a role in the CPI rise

Source: CBRT, Turkstat

Turkish Lira

The Turkish lira depreciated 13.8% versus the USD in the 2018 and 13,1%

depreciated against the EURO; Lira depreciation continued after 3rd quarter of

2017 mainly due to global risk-off sentiment and geopolitical developments.

USD/TRY has been lingering near 3.95 level and EURO/TRY is also at 4.88 level as

of March.2,5

3

3,5

4

4,5

5

5,5FX Rates

USD/TRY

EUR/TRY

Turkey Macroeconomic Developments

7

Central Bank Monetary Policy

The Central Bank maintains its tight monetary policy stance and continues to keep

its main policy rate window, the weekly repo shut. The O/N lending window and

the O/N borrowing have remained as is since 1Q2018. The Late liquidity window

rate was increased from 12.75% to 13.50% (+100bps) in April 2018.

Rates (%) Q2’17 Q3’17 Q4’17 Q1’18

Overnight borrowing rate 7.25 7.25 7.25 7.25

One-week repo (policy) rate 8.00 8.00 8.00 8.00

Overnight lending rate 9.25 9.25 9.25 9.25

Late liquidity window rate 12.25 12.25 12.75 12.75Foreign Trade and Current Account Balance

Current account deficit rose by 54.4% yoy to 4.8 billion USD in March, above

market expectations of 4.1 billion USD. The uprising trend in oil prices and net gold

imports played a important role in the deterioration of current account balance.

Foreign trade deficit remained broadly flat compared to February and became 5.9

billion USD in March. On an annual basis, foreign trade deficit widened at a lower

rate compared to previous months with 28.8%. The expansion was 64% in the first

quarter. In March, exports increased by 7.7% yoy to 15.6 billion USD, while imports

surged by 12.7% to 21.4 billion USD. Import coverage ratio improved and came in

at the highest level in one year with 72.7% in this period.

-12,6

-18,3

-23,0 -22,8-20,7

-8,4

-12,9

-10,3

-15,9 -16,4

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Foreign Trade Balance Current Account Balance

Balances – Quarterly (billion USD)

Budget Balance

The central government budget deficit increased by 3.6% yoy in March and

amounted to 20.2 billion TRY. Revenues expanded more than expenditures in this

period. Budget revenues increased by 23.4% yoy to 48.2 billion TRY while budget

expenditures rose by 16.8% to 68.4 billion TRY.

First quarter budget revenues was also weaker compared to the same period of

the previous year due partly to the lack of privatization revenues. The central

government budget deficit, which was 14.9 billion TRY in first quarter of 2017,

surged by 36.9% yoy to 20.4 billion TRY in the same period this year.

Budget Balance (billion TRY)

Source: CBRT, Turkstat, Ministry of Finance

-14,9-10,2

-6,4

-15,8

-20,4

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

May

Turkey Banking Sector vs Participation Banking Sector

Banking Sector vs Participation Banking Sector

� In Q1 2018 the total revenues of the banking sector rose33,2% compared to Q1 2017.

� Loan growth rate reached 4,2 % ytd while NPL amountincreased by 3 % ytd.

� Loan growth is stronger than in previous years owing to expansionary fiscal policies in place and macroprudentialpolicies supportive of the financial system (ex: Credit Guarantee Fund). Commercial loan growth continued to grow at a higher rate than consumer loans.

� Net Profit increased by 2,9%

Banking Sector highlights

� The sector continued to grow in asset and profitability in the1Q of 2018.

� Participation banking noted 4,2% ytd asset growth.

� Capital Adequacy figures increased to 17,72%

� Remarkable net profit increase, 52 % yoy

� Number of total branches increased to 1040.

Participation Banking highlights

Key Financial

Indicators

(mn TRL)

1Q 2017 YE 2017 1Q 2018 YtD (%) Y-Y (%)

Total Assets 2.866.047 3.257.819 3.375.253 3,6% 17,8%

Loans* 1.903.634 2.182.096 2.273.712 4,2% 19,4%

Deposits 1.613.776 1.804.766 1.880.451 4,2% 16,5%

Shareholder’sEquity

317.593 359.091 375.716 4,6% 18,3%

Total revenues 69.398 303.160 92.433 33,2%

Net profits 13.517 49.122 13.912 2,9%

Key Financial

Indicators

(mn TRL)

1Q 2017 YE 2017 1Q 2018 YtD (%) Y-Y (%)

Total Assets 136.309 160.136 166.911 4,2% 22,5%

Loans* 91.479 111.071 117.653 5,9% 28,6%

Deposits 89.218 107.311 112.837 5,1% 26,5%

Shareholder’sEquity

11.817 13.645 13.916 2,0% 17,8%

Total revenues 3.763 12.901 4.262 13,3%

Net profits 330 1.583 503 52,4%

*Financial leasing receivables included.

9

*Financial leasing receivables included.

Agenda

1 Introduction

2 Financial Highlights

Appendix4

3Market Comparison

Albaraka Türk 2018 Q1 – Key Financial Highlights

6Albaraka Turk – 2018 Q1 Main Highlights (Balance Sheet)

TRL million Q1’17 Q4’17 Q1’18 YtD( %) Y-Y (%)

Total Assets 33.021 36.229 37.084 2,40% 12,30%

Total Funded Credits 22.892 25.193 25.938 3,00% 13,30%

Deposits 23.668 25.310 26.099 3,10% 10,30%

Shareholder’s Equity 2278 2.482 3.160 27,30% 38,70%

33.02134.231 33.827

36.229 37.084

22.892 22.876 23.71125.193 25.93823.668

23.771 24.10925.310

26.099

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Total Assets Total Funded Credits Total Collected Funds Asset Segmentation (Q1’18)

12

Funded Credits; 69,9%

Securities Portfolio;

7,3%

Liquid Assets*; 19,7%

Other Assets; 3,0%

*Liquid Assets includes Cash and Cash Equivalents, Derivative Financial Assets and

Expected Loss Provision (-)

6Albaraka Turk – Q1’18 Main Highlights (Income Statement)

TRL million Q1’17 Q4’17 Q1’18 QoQ (%) Y-Y (%)

Profit Share Income 633 760 663 -12,8% 4,7%

Net Profit Share Income 318 366 250 -31,7% -21,4%

Total Operating Profits 378 461 597 29,5% 57,9%

Spesific Provisions for LoanLoss 138 102 257 152,2% 86,3%

Net Operating Profits 46 113 115 1,8% 150,0%

Tax Provision 10 17 17 0,0% 70%

Net Profit 36 96 98 2,1% 173,0%

318

366

250

Q1’17 Q4’17 Q1’18

Net Profit Share Income

36

96 98

Q1’17 Q4’17 Q1’18

Net Profit

4,174,32 4,22

4,47

4,13

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Net Profit Share Margin*

* Trailing for last four quarters

13

1.4281.649

1.330 1.3491.090

612625

509 533629

556

977

988 994995

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Available for sale Held to Maturity Other Marketable Securities

3.251

2.5962.876

2.714

7Albaraka Turk - Asset Composition

Composition of Total Assets (TRL mn) (Q1’18) Liquid Assets (TRL mn)

14

*Liquid Assets includes Cash and Cash Equivalents, Derivative Financial Assets and

Expected Loss Provision (-) excluding liquid assets in securities portfolio

Total Securities Portfolio (TRL mn) Securities Yield (%)

9,909,81

9,29,25

8,83

Q1'18Q4'17Q3'17Q2'17Q1'17

(*) Profit share income received from securities for the last 4Q/4Q average securities

2.827

8.590 9.734 8.784 9.612 9.395

26,01% 28,44%

25,97% 26,53%25,33%

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Liquid Assets % of Total Assets

Funded Credits; 69,9%

Securities Portfolio;

7,3%

Other Liquid Assets*; 19,7%

Other Assets; 3,0%

6Albaraka Turk - Operating Performance Breakdown

Income (million TRL)

633 761 663

-314 -394 -413

Profit Share Expense

Profit Share Income

Net Profit Share Income (million TRL)

Key Movements in Income (million TRL)

Yield Movement (%)

91,3% 88,8%

63,8%

8,7% 11,2%

36,2%

Q1'17 Q4'17 Q1'18

Fees, commission and others Profit Share Income

1.039856693

Q1’17 Q4’17 Q1’18

349366

250

15

Q1'17 Profit ShareIncome

Fees &Comm

TradingIncome

Others Q1'18

693

1039+273

+41+2+30

9,73% 9,91% 9,82% 10,25% 10,06%

4,17% 4,32% 4,22% 4,47%4,13%

5,21% 5,24% 5,30% 5,57% 5,81%

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Credit Yield Net Profit Share margin

Cost of Collected Funds

� Total Profit Share Income up 5%� Profit Share Expense increased 31%� Net Profit Share Income decreased 22%� Total Operating Profit increased 65%� Provisions increased 166%� Net Profits increased 173%

Highlights

22.892 22.876 23.71125.193 25.938

6.306 6514 6.681 6.665 6.575

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

TRL USD*

10,06

10,25

9,82

9,91

9,73

Q1'18Q4'17Q3'17Q2'17Q1'17

*USD equivalent of total funded credits

Total Funded Credits (including financial leasing, million)

QoQ Growth: 3,0% in TRL terms YoY growth: 13,3% in TRL terms

Credit Yields (%)

(1) Profit share income received from credits for the last 4Q/4Q average credits

Albaraka Turk - Funded Credits Portfolio

Q1’17 Q2’17 Q3’17 Q4’17 Q1’18

Corporate Credits 41,6 40,8 40,4 40,3 40,2

SME Credits 43,6 44,6 45,4 46,2 46,9

Retail Credits 14,8 14,6 14,2 13,5 12,8

Total 100.0 100.0 100.0 100.0 100.0

51%

33%

16%

TRL

USD*

EUR*

Composition of Total Funded Credits* (%) Currency Composition of Total Funded Credits* (Q1’18)

*Including USD & EUR indexed credits*According to BRSA definition

16

51,954,6 55,3 57,7 58,7

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

5,616,02

5,364,68

5,34

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

13231425

13091213

1443

687778

725 699

848

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

NPA Specific Provisions

Non-performing Loans (TRL million)

172189 193 187

239

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Cost of Risk** (bps)

NPL Ratio*

** Specific provisions for credits for last 4Q/ 4Q average credits

*Including financial leasing & accruals and rediscounts

Provisioning Ratio (%)

Albaraka Turk - Asset Quality

17

20% 22% 21% 23% 21%

19% 19% 20% 18% 19%

61% 59% 59% 59% 60%

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Fund Borrowed* Current Accounts Participation accounts

Composition of Total Liabilities (Q1’18,%) Composition of Funding Base (TRL million)

70

18

93

Funds Collected

Wholesale Funding

Shareholders' Equity

Others

32.688

11,3%

32.88529.548 30.448

Albaraka Turk - Funding Profile

18

*Fund Borrowed includes Funds Borrowed , Borrowings from Money Market

and Subordinated Loans

30.506

23.668 23.771 24.10925.310 26.099

6.520 6768 6793 6696 6616

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

TRL USD*

Total Funds Collected (TRL million)

Cost of Funds Collected**

*USD equivalent of total collected funds

**Profit share expense to depositors for the last 4Q/4Q average participation accounts

Currency Composition of Funds Collected (Q1’18,%)

Maturity Composition of Funds Collected (Q1’18, %)

28

22

42

3 1 4

Current Acc.

Up to 1 month

Up to 3 months

Up to 6 months

Up to 1 year

>1year

10,3%

Albaraka Turk - Funding Profile (Collected Funds)

19

50,4

29,3

16,9

3,5

TRL

USD

EUR

Others

5,81%5,57%5,30%5,24%5,21%

9,07%8,63%

8,19%8,00%7,90%

1,93%1,85%1,78%1,76%

1,69%

1,20%1,10%0,93%

0,95%0,98%

Q1'18Q4'17Q3'17Q2'17Q1'17

Average TL FC Precious Metal

Off Balance Sheet Composition (%) LGs*-to-Total Assets

23,0%

20,8%19,7% 19,4%

20,4%

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

Off Balance Sheet (TRL million)

*Revocable credit limits not included.

Albaraka Turk - Off Balance Sheet Growth

20

*Below 20% of LGs to Total Assets is targeted

72 7062 61 62

7 88 9 8

21 2330 30 30

Q1'17 Q2'17 Q3'17 Q4'17 Q1'18

LG LC Others

Q1’17 Q2’17 Q3’17 Q4’17 Q1’18

Growth (%)

YtD YoY

Letter of Guarantee 7.593 7.129 6.657 7.024 7.387 5,17 -2,71

Letter of Credit 714 803 860 1031 1020 -1,07 42,86

Others* 2.168 2.303 3.159 3.390 3.595 6,05 65,82

Total: 10.476 10.235 10.676 11.445 12.003 4,88 14,58

14Income- Cost Dynamics

21

(000 TRL)

YoY QoQ Notes

Q1’17 Q4’17 Q1’18 % %

Net Profit Share Income

318.384 365.914 249.735 -21,6% -31,8%Profit share expense increased by 29,7% while PSI raised by 4,7% YoY basis. There is no Jointventure project return.

Net FeeIncome

37.798 39.272 40.036 5,9% 1,9% Credit Guarantee Fund Commisions.

Net TradingIncome

-7.147 19.418 33.892 4,2% 74,5%Higher FX Gain due to well managed treasurydespite volatile exchange rate movements.

Other Income 29.434 36.831 273.431 829,0% 642,4%Reversal of prior year provisions is higher than2017 due to IFRS 9 Changes

Provisioning 138.029 101.939 257.109 86,3% 152,2% Higher provisions due to IFRS 9.

PersonnelExpenses

105.601 114.613 122.326 15,8% 6,7% Increase in number of staff and salaries.

Other Costs 88.619 131.318 102.722 15,9% -21,8%Increase in number of branches comparing to same period in last year.

Tax 10.427 17.590 17.220 65,1% -2,1% -

Net Profits 35.793 95.976 97.717 173,0% 1,8%

Agenda

1 Introduction

2 Financial Highlights

Appendix4

3Market Comparison

Percent Q1’17 Q1’18

AlbarakaTürk

ParticipationBanks*

BankingSector*

AlbarakaTürk

ParticipationBanks*

Banking Sector*

Asset Size 0,5 2,6 4,9 2,4 4,2 3,6

Total Credits** 0,3 3,4 5,5 3,0 5,9 4,2

Deposits/Collected Funds*** 2,2 5,2 4,3 3,1 5,1 4,2

* According to BRSA data

** Including Leasing Receivables, Interest (Profit Share) and Income Accruals and Rediscounts from Loans, Loans Extended to Banks

*** Including Deposit (Participation Funds) Interest (Profit Share) Rediscounts and Deposit (Participation Funds) Collected from Banks

21,0%

12,6%

26,4%

15,1%

18,2%15,8%

19,30%

24%

18%

40%

34%

28%

11% 10%

2011 2012 2013 2014 2015 2016 2017

Asset Size GrowthBanking Sector

Albaraka Türk

Albaraka Turk - Total Growth 2018 Q1

23

Percent Q1’17 Q1’18

AlbarakaTürk/

ParticipationBanks

AlbarakaTürk/ Banking

Sector

ParticipationBanks/ Banking

Sector

AlbarakaTürk/

ParticipationBanks

AlbarakaTürk/ Banking

Sector

ParticipationBanks/ Banking

Sector

Asset Size 24,2 1,2 4,8 22,3 1,1 4,9

Total Credits* 25,0 1,2 4,8 22,0 1,1 5,2

Deposits/Collected Funds** 26,5 1,5 5,5 23,1 1,4 6,0

* Including Leasing Receivables, Interest (Profit Share) and Income Accruals and Rediscounts from Loans, Loans Extended to Banks

** Including Deposit (Participation Funds) Interest (Profit Share) Rediscounts and Deposit (Participation Funds) Collected from Banks

22,3%4,9%

Banking Sector Participation Banking Sector

Albaraka Turk - Market Share 2018 Q1

24

Percent 2017 2018 Q1

Albaraka TürkParticipation

BanksBanking Sector Albaraka Türk

ParticipationBanks

BankingSector

CAR 17,07 16,98 16,87 19,16 17,72 16,56

NPL Ratio 4,68 3,22 2,95 5,34 3,18 2,89

Provisioning Ratio 57,68 70,75 79,38 58,70 65,75 75,14

Loan/Deposits 99,54 103,50 120,91 99,39 104,27 120,91

ROAA (IBT) 0,85 1,36 2,04 0,97 1,44 1,99

ROAE (NI) 10,12 12,62 14,73 12,43 13,46 14,19

Asset Yield 8,97 9,36 8,83 8,82 9,61 9,12

Asset Spread 4,24 4,54 3,48 3,88 4,55 3,43

Net Profit Share Margin 4,47 4,70 4,12 4,13 4,73 4,11

Net Fee Income / Avg. Assets 0,89 0,76 0,96 0,89 0,75 0,96

Op Costs / Avg. Assets 2,35 2,24 2,05 2,45 2,24 2,02

Cost/Income* 49,30 43,42 38,69 40,67 37,95 34,42

Credits / Branches (000‘TRL) 114.515 107,627 188.355 115.044 113,128 196,909

Staff / Branches 17,72 14,56 17,98 17,81 14,54 13,39

CA / Deposits 28,26 30,52 21,24 24,55 27,98 20,63*Cost: Operating Costs, Income: NPSI, Net Fees and Commissions Income, Other Income Net Trading Income

Financial Ratios - Sector Comparison

25

Agenda

1 Introduction

2 Financial Highlights

Appendix4

3Market Comparison

(Thousand TRL) Dec‘17 Mar‘18 Growth (%)

Cash and Balances with Central Bank 5.756.995 5.552.762 -3,55%

Banks 1.511.407 1.758.280 16,33%

Financial Assets 2.343.384 2.712.974 15,77%

Funded Credits 25.193.463 25.938.395 2,96%

Cash Credits 24.456.382 24.879.578 1,73%

NPL 1.212.610 1.443.205 19,02%

Provisions 699.437 847.785 21,21%

Net Financial Leasing Receivables 737.081 724.906 -1,65%

Associates 30.119 33.659 11,75%

Fixed Assets 618.141 612.558 -0,90%

Assets Held For Sale and Investment 84.230 111.705 32,62%

Other Assets (inc. Tax Assets) 158.535 364.119 129,68%

Total Assets 36.229.077 37.084.452 2,36%

Funds Collected 25.309.840 26.098.879 3,12%

Funds Borrowed 5.411.969 4.873.212 -9,95%

Debts 1.133.779 1.139.098 0,00%

Provisions (inc. Taxes) 264.820 76.032 -71,29%

Tier II Sukuk 1.627.163 1.736.826 6,74%

Shareholders’ Equity 2.481.506 3.160.405 27,36%

Capital 900.000 900.000

Capital Reserves (inc. Premium) 225.430 813.736

Profit Reserves 1.113.454 1.318.907

Profits 242.622 97.717

Total Liabilities 36.229.077 37.084.452 2,36%

Albaraka Turk- Summary Balance Sheet

27

(Thousand TRL) Mar’17 Mar’18 Growth (%)

Profit Share Income 632.748 662.703 4,73%

Profit Share Expense 314.364 412.968 31,37%

Net Profit Share Income 318.384 249.735 -21,56%

Net Fees and Commissions Income 37.798 40.036 5,92%

Fees and Commissions Received 53.274 58.589 9,98%

Fees and Commissions Paid 15.476 18.553 19,88%

Net Trading Income -7.147 33.892 n.m.**

Other Operating Income 29.434 273.431 828,96%

Total Operating Profit 378.469 597.094 57,77%

Provisions for Loan Losses and other Receivables 138.029 257.109 86,27%

Other Operating Expenses* 194.220 225.048 15,87%

Net Operating Profit 46.220 114.937 148,67%

Tax Provision 10.427 17.220 65,15%

Net Profits 35.793 97.717 173,01%

Albaraka Turk – Summary Income Statement

28

*including personnel expenses

**n.m. : not meaningful

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