IFRS Earnings Presentation, March 31, 2012

March 31, 2012
IFRS Earnings Presentation

Investor Relations / IFRS Earnings Presentation 3M12

1Q 2012 Macro Highlights

Improving liquidity • Mixed messages from the US and the Eurozone economic indicators
and risk appetite
• Weak import demand from all three major regions in the global economy
followed by doubts
about the strength • Uncertainty around further easing by FED and ECB gained ground
and sustainability of • Commodity prices are on the rise -- Gold was up by 7% & oil by ~20%.
growth

• Y-o-Y GDP growth rate in 4Q11 fell to 5.2% from 8.4% in 3Q11 -- An encouraging rebalancing is occurring within GDP
o In 4Q11, highest positive contribution from foreign demand since 2Q09
Economy heading for a o Private consumption & investments decelerated significantly in 4Q11
soft landing • Current account deficit ended the year at a decelerated level at US$ 77.2bn & improved financing quality
• Annual CPI at the end of 1Q12 was 10.43% -- Even though core inflation started to come down, energy prices keep
the headline CPI high
• The policy interest rate was unchanged at 5.75% and the upper band of interest rate corridor was lowered from
12.5% to 11.5%
o Interest rate corridor has been actively used since the end of 2011
o Average CBT funding rate surged in CBT’s effort to fight the inflationary pressures due to currency pass through
o Taking the liquidity projections into account, the ranges for weekly and monthly Turkish lira funding were
revised. Additionally, fraction of TL required reserves that can be held in gold were increased from 10% to 20%.
This action alone released TL 6.1bn of reserves and increased banks’ liquidity
• During 1Q12, TL appreciated by 1.6% and 1.5% against USD and Euro, respectively while benchmark bond yield was
at 9.4% on a monthly average at the end of 1Q12
• Liquidity conversion ratio of issued bonds was reduced from 100% to 50% upon BRSA’s amendment in February
• Effective as of January 1st, 2012, liquid fund management fee cap was decreased to 1.10% from 2.73%

2


1Q 2012 Highlights

Customer-oriented, liquid, low-risk and well-capitalized balance sheet
Balance sheet
Maintained focus on profitable growth – selective lending continues on high margin products
strength: TL lending growth 3.2% q-o-q, at a slower pace vs. sector
distinguishing • Healthy market share gains in high margin retail products with no pricing competition
feature of Garanti... (Mortgage: 1.2% q-o-q vs. sector’s 0.8%; GPL: 4.2% q-o-q vs. sector’s 3.6%)1
• Intentional market share loss in TL commercial lending to maintain rational pricing and defend margins
FX lending growth 3.4% q-o-q, driven by commercial lending
FRN heavy securities book remain as a hedge -- FRN in total slightly down to 56% in 1Q 12 vs. 58% at YE 11, due to
redemptions replaced with favorable fixed rate TL securities
Asset quality remained intact
• Slight pick-up in NPL ratio (1Q 12: 2.4%) -- as expected, across the board, at a lower pace vs. sector
• Collections -- still strong, however at a normalizing pace
Solid funding mix -- Actively managed and diversified
• Deposit heavy funding remains with emphasis on sustainable and lower cost mass deposits
• Opportunistic utilization of repos & money market funding to support margins
• Sustained high demand deposit levels -- demand deposits / total deposits: 20%
• Loans to Deposits @ 101%, LTD:79% when mortgages, project finance & invesment loans (mat.>4 years) are excluded
Strong capitalization bolstered by high internal capital generation capacity: CAR1: 16%, Leverage:7x

...leads to consistent Strong profitability backed by well-defended margins, sustainable income sources & efficiently managed costs
ROAE: 21%; ROAA: 2.4%
delivery of strong Margins holding-up well -- almost flattish when quarterly fluctuating CPI book is excluded
results • Ongoing positive effect of timely and proactive loan re-pricing on loan yields
• Managed lending growth with higher weight in lucrative products and rational pricing
Net fees and commissions -- Sustained double digit growth momentum on a comparable basis via highly diversified fee sources
Commitment to strict cost discipline - single digit growth in real terms
• Opex/ Avg assets: 2.4% in 3M12 vs. 2.5% in 3M11
• Fees/OPEX: 64% on adjusted basis2 vs. 56% on reported basis
• Investment in distribution network continued (avg branch additions: ~50 y-o-y)

1 Based on BRSA Consolidated financials
2 Adjusted with the effect of decreased cap on fund management fees and accounting methodology change for cash loan origination fees 3


Strategically and actively managed balance sheet leading to strong levels of
core banking revenues & ROAE of 21%
+5% q-o-q
Quarterly net income (TL million) Improving Core
Other
Banking Revenues Inc. on income
Inc. on Coll’n
RRR 142
5% 5%
971 1,428 CPI-linkers
1 50

(TL million)
921 922 Net 488 960
ROAE: 21% Fees&Comm.
114
Trading
74
ROAA: 2.4%

1Q12 Net income
NII-exc. inc. 541 Prov.exc.
on CPI-linkers collections Net
Sustained high & RR
OPEX 253 Income
profitability Other
Provisions
& Tax
1Q11 4Q11 1Q12 1001 971

• Ongoing positive effect of timely loan-repricing Other
income
limited the pressure of increasing funding costs Inc. on Inc. on Coll’n 119
CPI-linkers RRR 105
4
• Robust & growing fee base
(TL million)
1,364
despite negative effects of decreased cap on fund Net 666 1,177
management fees & accounting methodology Fees&Comm.
Trading
change on cash loan origination fees 184
4Q11 Net income

NII-exc. inc. 88
on CPI-linkers
500 Prov.exc.
• Although lower, still strong contribution from & RR
collections
Net
OPEX 248
CPI-linkers Income
Other
• Normalizing collections, as expected Provisions
& Tax
1,047
922

4


Customer-oriented asset mix -- Loans/Assets back to pre-crisis levels

Total Assets (TL/USD billion) Composition of Assets
Growth-1Q12
1Q12 Other Tangible
Cash 7.6% Assets
1.0%
1%
Equivalents In line with economic
20% 3.4%
slowdown, moderating lending
161.4 163.5
Securities2 Loans to
growth
24.6% customers
57.0%
Loans 0.5%
136.3
Securities 2 10.5%
Loans to
96.3 banks
6.4%
88.9
81.2 Loans/Assets
2011
Other Tangible
57.0%
Cash 7.5% Assets
Equivalents 1.1% vs. 57.4% at YE 11
2.1%

Securities2
Loans to
36.0 38.9 38.2 22.5%
customers
57.4% Liquidity Ratio1
1Q 11
1Q 11
TL FC (USD)
2011
2011 2012
1Q12
Total Assets (TL)
Loans to
banks
33%
9.4%

1 (Cash and Balances wıith CB + Loans and Advances to banks+Trading securities + AFS)/Total Assets
5
2 Securities = Financial assets at fair value through profit or loss+Investment securities


FRN heavy securities book continues to serve as a hedge -- redemptions
replaced with favourable fixed rate TL securities
Total Securities1 (TL billion) TL Securities1 (TL billion)
Securities1/Assets
11% 13%
40.2

25%
39.6
36.4 37.4 36.4 13%
18% 32.6 34.8
15% 17% 15% 30.8 31.0 30.7

3%
6% (8%) 11%
1% 5% (6%) 13% up from 23% at YE 11
85% 87% CPI: CPI: CPI: CPI:
83% 82% CPI:
85% 30% 32% 30% 29%
32%
FRNs: FRNs: FRNs: FRNs:
FRNs:
36% 36% 30% 30%
29%

1Q 11 2Q 11 3Q 11 2011 1Q12
FRN mix2 in total
1Q 11 2Q 11 3Q 11 2011 1Q12
TL FC

Total Securities1 Composition FC Securities1 (USD Billion)
(16%)
56%
from 58% at YE 11
Financial 4.0 3.9
assets at fair Available for 3.6
value through Sale 3.0 3.0
profit or loss 90.8%
1.6%
(3%) (22%)
10% 1%
Held To
Maturity
7.6% FRNs:
FRNs: FRNs: FRNs: FRNs:
42% 32%
29% 31% 30%

1Q 11 2Q 11 3Q 11 2011 1Q12

1 Securities = Financial assets at fair value through profit or loss+Investment securities
2 Based on bank-only MIS data
6
Note: Fixed / Floating breakdown of securities portfolio is based on bank-only MIS data


Moderating loan growth in line with economic slow down -- Retail lending
remains as the growth driver
Total Loan1 Growth & Loans by LOB2 (TL million)
TL Loan Growth3:
Bank-only - Q-o-Q
0.5%

21% 90.0
3%
92.7 93.1
1.7% vs. Sector’s 4.1%

82.4  Mainly driven by lucrative
18.2% 16.3%
Total 76.8 18.5% retail loans
18.4%  Refraining from pricing
Corporate 20.1% competition in commercial
lending to defend margins
39.5% 39.4%
39.0%
38.0% market share: 11.0% in 1Q 12
Commercial 37.7% vs. 11.3% at YE 11

11.8% 12.8%
12.8%
SME 12.6%
13.1% FC Loan Growth3:
Bank-only - Q-o-Q and US$
11.6% 11.9% 12.2% based
11.9%
Credit Cards

Consumer
11.5%

18.0% 18.4% 18.1% 18.5% 19.3%
1.8% vs. Sector’s 2.2%
 Healthy growth without
sacrifying loan yields
1Q 11 1H 11 9M 11 2011 1Q12
TL (% in total) 51% 52% 52% 52% 53%
market share: 18.4% in 1Q 12
FC (% in total) 49% 48% 48% 48% 47%
vs. 18.5% at YE 11
US$/TL 1.530 1.600 1.820 1.865 1.760

1 Cash Loans
2 Based on bank-only MIS data 7
3 Based on bank-only financials for fair comparison with the sector. Sector data is based on BRSA weekly data for commercial banks


Sustained upward trend in loan yields -- positive result of selective growth
strategy and timely re-pricing
TL Loans (TL billion) Interest Income on loans (quarterly – TL billion)

26% 2,164
49.8 2,070
46.6 48.2 1,906
39.5 42.7 1,554 1,635
3%
4%
9% 11.63% Total Yield1
8%
16.05% TL Yield1 10.72%
15.17%
14.75% 9.93% 9.92% 10.26%
14.47% 14.33%

1Q 11 2Q 11 3Q 11 2011 1Q12 1Q 11 2Q 11 3Q 11 2011 1Q12

FC Loans (US$ billion)

1%
24.6
Ongoing positive effect of
24.4 24.8 23.9 23.8
timely loan re-pricing & selective
2% (4%)
3% growth in high-yielding loans
(0%)
1
bolstered the yields
5.55% FC Yield
4.75% 5.12%
4.50% 4.51%

1Q 11 2Q 11 3Q 11 2011 1Q12

1 Based on bank-only MIS data and calculated using daily averages 8


Selective growth focus -- Healthy market share gains in high-margin retail loans

Retail Loans1 (TL billion) Mortgage (TL billion)

GPL & Mortgage
23% 40.2 41.2 10% Market Share
36.6 38.6
9.7 10.0 10.2 10.3 (qoq)
33.6 11.0 11.4 9.4 0.6 0.6 ,
10.9 0.6 0.6
10.5 0.6
9.5
4% 3% 3% 2% 1% +10 bps in GPL
9% 6% 4%

24.1 26.1 27.7 29.2 29.8 8.8 9.1 9.4 9.6 9.7 +12 bps in Mortgage

1Q 11 2Q 11 3Q 11 2011 1Q 12 1Q 11 2Q 11 3Q 11 2011 1Q 12
Consumer Loans Commercial Installment Loans

Auto Loan (TL billion) General Purpose Loan5 (TL billion) Market Shares2,3

QtD Mar 12 Rank4
23% 2.8
31% 18.0
16.7 17.3
Mortgage 13.4% #1
15.4
13.8
8.3 8.7
8.3 Auto 15.0% #3
2.6 2.8 2.8 7.9
2.5 7.1
2.3 General
1.7 1.7 4% 4% 10.8% #2
1.6 1.6 12% 8% Purpose5
1.5
7% 1% 8.3 8.9 9.3
3% 6.6 7.5
10%
1.0 1.1 1.1 Retail1 12.9% #2
0.8 0.9

1Q 11 2Q 11 3Q 11 2011 1Q 12 1Q 11 2Q 11 3Q 11 2011 1Q 12

Note: Garanti figures are based on BRSA consolidated financials; Sector figures are based on bank-only BRSA weekly data, commercial banks only
1 Including consumer, commercial installment, overdraft accounts, credit cards and other 4 As of 2011 among private banks 9
2 Including consumer and commercial installment loans 5 Including other loans and overdrafts
3 Sector figures are based on bank-only BRSA weekly data, commercial banks only


Strength in card business – a good contributor to sustainable revenues

Issuing Volume (TL billion) Acquiring Volume (TL billion)
#1 in card business
20% 14.7 17%
15.1
Per Debit Card Spending
12.3 13.0 ~2.5x the sector
... with the ultimate aim of creating
cashless society
Per Card Spending
(TL, Mar 122)
6,750

6,183
1Q11 1Q12 1Q11 1Q12
Garanti Sector

No. of Credit Cards (thousand) Credit Card Balances (TL billion)
Market Shares

717 24% QTD ∆ Mar 12 Rank
262 10.0 10.1
8,806 9.4 Acquiring -115 bps 18.8% #2
8.1 9.0
8,544
8,089 Issuing -56 bps 18.4% #1
6% 1%
5% # of
10% +24bps 16.9% #1
Credit Cards

POS1 +75 bps 18.3% #1

1Q11 2011 1Q12 1Q 11 2Q 11 3Q 11 2011 1Q 12 ATM -4 bps 10.0% #3

1 Including shared POS
2 Annualized
10
Note: All figures are bank-only except for Credit Card Balances


Asset quality remained intact…

NPL Ratio1
Garanti 2.7% 2.5% 2.3% 2.3% 2.4%
(IFRS)
4.4%
Nominal NPLs
3.9% 3.7% 3.7%
3.3%
2.9%
3.8%
Slight deteoriation -- 3%
2.7% 2.6% 2.7%
2.9%
2.6% 2.4% 2.5%
 as expected
2.4%
2.1% 1.9% 1.8% 1.8% 1.9%  across the board
 at a lower pace than sector

1Q 11 2Q 11 3Q 11 2011 1Q12
Garanti Sector Garanti excld.NPL sales & write-offs* Sector w/ no NPL sales & write-offs*

* Adjusted with write-offs in 2008,2009,2010 and 2011. 2010 and 2011 sector NPL sales & write-offs total: TL ~2.7 bn and ~TL 1.9 bn,
respectively. Garanti sold NPLs in 1Q 11 amounting to TL 484mn, of which TL 200mn relates to the NPL portfolio with 100% coverage
and the rest being from previously written-off NPLs. Gross income booked amounts TL 54mn.

NPL Categorisation1
Retail Banking Credit Cards Business Banking
(Consumer & SME Personal) (Including SME Business)
22% of total loans 12% of total loans 66% of total loans

7.7%
2.4% 2.0% 3.0%
7.0% 2.7% 2.4%
2.1% 1.9% 1.9% 6.3% 2.5% 2.5%
2.1% 5.7% 5.8%
1.8% 6.9%
1.6% 6.3% 5.8%
1.6% 1.6% 5.7% 5.8%
1.4% 1.2% 1.2% 1.2% 1.3%

1Q11 2Q11 3Q11 2011 1Q12 1Q11 2Q11 3Q11 2011 1Q12 1Q11 2Q11 3Q11 2011 1Q12
Garanti Sector

1 NPL ratio and NPL categorisation for Garanti and sector figures are per BRSA bank-only data for fair comparison.
Source: BRSA, TBA & CBT 11


Solid funding mix – well diversified and actively managed

Composition of Liabilities Total Deposits (TL billion)

Other 5.7% 5.6% 5.8%
12.2% 11.2% 11.9% 14% (1%)
SHE

12.6%
93.2 92.6
Demand Deposits 11.7% 11.2% 88.6
81.4 84.5
IBL: 48% 49% 49% 49%
IBL: IBL: 49% FC
71%
70% 70% 45.4% (2%)2 (5%)2 5% 2
Time Deposits 48.0% 45.2% 2% 2

2% 0% TL
5% 6%
Bonds Issued 0.6% 2.3% 2.3% 51% 52% 51% 51% 51%
Repos 5.6% 7.3% 8.1%

Funds Borrowed 16.2% 15.8% 15.3%
1Q 11 2Q 11 3Q 11 2011 1Q 12
1Q 11 2011 1Q12 Loans / 94% 98% 102% 99% 101%
Deposits
Cost of Deposits1 (Quarterly Averages)

8.8% 8.8% 9.1%
10.5%
Loans/Deposits
8.7% 8.4% 8.2%
8.8% • Opportunistic and timely
7.7% utilization of alternative

101%
9.0%
7.8% 7.8% 7.8% 7.7% funding sources to support
7.4% 7.4%
6.6% 7.0% margins
3.1% 3.5%
2.6% 2.9% 3.1%
2.1%
2.6%
2.1%
2.6%

2.3% 2.4%
2.6%
or 79% when • Deposit costs rising as
expected, however at a
2.1% 2.1% 2.4%
1.8% 2.1% 1.8% mortgages, project finance contained manner due to
1Q 10 2Q 10 3Q 10 2010 1Q 11 2Q 11 3Q 11 2011 1Q 12 & investment loans focus on lower cost mass
TL Time TL Blended
(mat.>4yrs) are excluded deposits
FC Time FC Blended
2 Growth in USD terms 12


Robust deposit base with further emphasis placed on mass deposits and
sustained high weight of demand deposits
Deposits by LOB1 (Excluding bank deposits) Demand Deposits (TL billion)

15%

20.3
Corporate 13.7% 16.8 18.9 0.8 18.3
16.4% 16.3% 16.0 0.5 0.5
0.5 0.6
19.5 17.8
18.4
16.2
21.4% 15.5
Commercial 20.9%
23.6%

16.4%
SME 16.0% 1Q 11 2Q 11 3Q 11 2011 1Q 12
15.4%
Bank Deposits Customer Deposits

Demand Deposits3 / Customer Demand
Consumer 44.6% 46.8%
48.5% Total Deposits Deposits2

19% vs. sector’s 16%
Solid presence in demand
deposits maintained
Sizeable demand deposit Market share: 14.5%
1Q11 2011 1Q12 level maintained

13
2 Sector data is based on BRSA weekly data for commercial banks only
3 Based on bank-only financials for fair comparision with the sector. Demand Deposits/ Total Deposits as per IFRS figures is 20%.


High internal capital generation capability bolsters strong capitalization ratios

CAR1 Free Funds TL Billion
(Free funds=Free Equity + Demand Deposits)
Free Funds/IEAs

29.3
26.6
19%
Free Equity w/o reserve
20.3 18.3
15.8% 15.7% Demand Deposits growth:

TIER I
TIER I 8% q-o-q
14.1% 14.7% Increasing free equity and
sizeable demand deposits
continued to support free funds
Recommended
12%

16.1 17.4
Free Equity including
Required
Reserve Requirements
8%

2011 1Q12
Leverage Ratio
-7.2 -9.1
Reserve
Requirements
7x
2011 1Q12 2011 1Q12

1 Based on BRSA Consolidated financials
Free Equity = SHE - ( Net NPL+ Investment in Associates and Subsidiaries + Tangible and Intangible Assets+ AHR+ Reserve Requirements) 14


Margins held up well, despite the negative quarterly fluctuation of the CPI book
and the duration mismatch
Quarterly NIM (Net Interest Income / Average IEAs)
NIM Adjusted NIM
4.7%
4.1% 4.1% 4.2%
3.8% 4.0%
3.7%
3.4% 3.4%
Quarterly NIM:
2.7%

(60bps) (26bps) ~Flattish when volatility
from CPI linkers are excluded

 Ongoing positive effect of
1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 timely and proactive loan re-
pricing on loan yields
 Managed lending growth
Q-o-Q Evolution of Margin Components (in bps) with higher weight in
lucrative products and
+32 -48 rational pricing
+17 -1 -54
Loans Other Inc.
467 Securities Securities Items -7 407 -30 397
CPI exc. CPI Deposits Other Exp.
+20 Squeeze in Adj. NIM was limited
Items Provisions FX&Trading due to relief in general
provisions

4Q 11 1Q 12 1Q 12
NIM NIM Adj NIM

Source: BRSA Consolidated Financials
Adjustments to NIM: Net Interest Income/ Average IEA adjusted by FX gain/loss, provision for loans and securities, and net trading income/loss 15


Healthy Fees & Commissions income supported by strong customer penetration
and cross-sell
Ordinary Banking Income1 Generation
Net fees and comm. Garanti Peers • Leader in interbank money transfer
market share % 18% market share vs. the peer’s average ~10%
25%
• Highest payment systems commissions per volume
20% 1.6% vs the peer’s average 1.3%5
6.3
4.1
15% 4.8 • #1 in bancassurrance
5.1
10%
• Strong presence in brokerage
3.9 ~6% market share
5% 2.7 Ordinary
banking income
(TL Billion)
0%
- 2,000 4,000 6,000 8,000

Net Fees & Commissions Breakdown 3,4 Net Fees & Commissions TL Million

10%
3M11 Cash Loans 3M12 Effect of accounting
18.6% Cash Loans methodology change
21.0% on loan orig. fees &
decreased cap on
Payment fund management
Systems Non Cash Payment (3%)
Systems
Non Cash 560 2
31.4% Loans Loans 541 Net fees & Comm.
8.8% 39.4%
5.6%
Money 3M11 3M12
Money
Transfer
Transfer
7.7% Money transfer4 14%
Other 8.3%
Insurance
Insurance
14.9% 6.8%
Brokerage 5.0% Cash Loans4 19%
Asset Mgt Other
4.6% Asset Mgt Brokerage
7.4% 15.2% Payment Systems4 32%
1.7% 3.9%

1 Defined as; net interest income adjusted with provisions for loans and securities, net FX and trading gains + net fees and commissions. Based on bank-only financials for fair comparison as of 2011
2 3M12 cash loan origination fees are accounted for on an accrual basis per methodolgy change 16
3 Breakdown is on a comparable basis to same period last year
4 Bank-only MIS data 5 Peer average as of 2011


Differentiated business model leading to consistent delivery of outstanding
results
(TL Million) 1Q 11 1Q 12 % Change
(+) NII- excl. inc on CPIs & RR 980 1,001 2%
(+) Net fees and commissions 560 541 -3%
(-) Provisions before collections -212 -114 -46% OPEX/Avg. Assets
Double-digit growth
= CORE BANKING REVENUES 1,328 1,428 8% in Net Fees &
(+) Income on RR 0 1 n.m.
Commissions sustained
on a comparable basis*
2.4%
(+) Income on CPI linkers 163 488 200%
(+) Trading & FX gains 255 74 -71%
(+) Collections 205 50 -76% Fees/OPEX
(+) Other income -before one-offs 159 142 -11% Increase in OPEX
(-) OPEX -858 -960 12%
mainly stemming
from:
64% on adjusted basis*
(-) Taxation and other provisions -284 -253 -11%
 ~50 average new
vs. 56% on reported basis
(+) One-offs (post -tax) -47 0 n.m. branch openings
(+) -NPL sale 43 0 n.m. y-o-y
 Double-digit Cost/Income
(-) -Free provisions -90 0 n.m. inflation readings
= NET INCOME y-o-y
Equity holders of the Bank
921
918
971
961
5%
5% 40.4%
Minority Interest 2 9 n.m.

* Adjusted with the effect of decreased cap on fund management fees and accounting methodology change on cash loan origination fees 17


Appendix


Balance Sheet - Summary

(TL million) Mar-11 Dec-11 Mar-12 YTD Change
ASSETS
Cash &Banks 14,124 18,663 16,068 -14%
Securities* 36,353 36,361 40,189 11%
Loans to Customers 76,768 92,654 93,113 0%
Tangible Assets 1,571 1,711 1,633 -5%
Other 7,526 12,012 12,457 4%
TOTAL ASSETS 136,343 161,401 163,460 1%

LIABILITIES & SHE
Deposits from Customers 78,793 90,139 88,995 -1%
Deposits from Banks 2,602 3,097 3,611 17%
Repo Obligations 7,604 11,738 13,173 12%
Bonds Payable 828 3,742 3,751 0%
Funds Borrowed 22,090 25,448 24,993 -2%
Other 7,795 9,087 9,512 5%
SHE 16,632 18,150 19,424 7%
TOTAL LIABILITIES & SHE 136,343 161,401 163,460 1%

* Securities = Financial assets at fair value through profit or loss+Investment securities 19


Long-term strategy of investing in CPI linkers as a hedge for expected reversal in
market indicators
Drivers of the Yields on CPI Linkers1 (% average per annum) Interest Income3 & Yields on TL Securities (TL billion)
28.4%

21.8% 21.7%
15.4%

16.2% 13.5%
15.1% TL Sec. Yield1
incl. CPIs
11.5%

9.3% 9.7%
9.4% 9.8%
7.1%6.9%6.7%6.6%6.6% 7.8%
TL Sec. Yield1
excl. CPIs 9.7% 10.0%
9.0% 9.4% 9.7%
3.0%
0.7% (10%)
1,169
Real Rate Inflation Impact Yield 1,053
503
806
1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 670 687 565

452
Income 508 465
excl. CPIs 666
488
354
CPI effect2 163 222

1Q 11 2Q 11 3Q 11 4Q 11 1Q12

2 Per valuation method based on actual monthly inflation readings 20
3 Based on BRSA consolidated financials


Details of select items in funding base

1Q 11:
Bonds issued
• TL 1 billion bond with 1 year maturity, at a cost of 7.68%

2Q 11:
• TL 750 million bond with 6M maturity, at a cost of 8.41%
• TL 750 million bond with 6M maturity, at a cost of 8.54%
• US$ 500 million Eurobond with 10 year maturity, fixed coupon 6.25%
• US$ 300 million Eurobond with 5 year maturity, floating 3M LIBOR + 2.5%

4Q 11:
• TL 750 million bond with 6M maturity, at a cost of 8.10% (Roll-over)
• TL 750 million bond with 6M maturity, at a cost of 10.09% (Roll-over)

1Q 12:
• TL 350 million bond with 92 days maturity, at a cost of 10.54% (Roll-over)
• TL 650 million bond with 176 days maturity, at a cost of 10.69% (Roll-over)

Funds borrowed 2Q 11:
• Secured € 1 billion 1 year syndicated loan, comprising two separate tranches in the amount of € 782.5 million and US$
304.5 million. The all-in cost has been realized as EURIBOR+1.1% and LIBOR+1.1%, respectively.
• Borrowed € 50 million and US$ 225 million with 5 year maturity under Diversified Payment Rights securitization
program

4Q 11:
• Secured US$ 1 billion 1 year syndicated loan, comprising two separate tranches in the amount of US$ 233.6 million
and
• €576.2 million. The all-in cost has been realized as LIBOR+1% and EURIBOR+1%, respectively.

21


Disclaimer Statement

Türkiye Garanti Bankasi A.Ş. (the “TGB”) has prepared this presentation document (the “Document”) thereto for the sole purposes of providing information
which include forward looking projections and statements relating to the TGB (the “Information”). No representation or warranty is made by TGB for the
accuracy or completeness of the Information contained herein. The Information is subject to change without any notice. Neither the Document nor the
Information can construe any investment advise, or an offer to buy or sell TGB shares. This Document and/or the Information cannot be copied, disclosed or
distributed to any person other than the person to whom the Document and/or Information delivered or sent by TGB or who required a copy of the same from
the TGB. TGB expressly disclaims any and all liability for any statements including any forward looking projections and statements, expressed, implied,
contained herein, or for any omissions from Information or any other written or oral communication transmitted or made available.


Investor Relations
Levent Nispetiye Mah. Aytar Cad. No:2
Beşiktaş 34340 Istanbul – Turkey
Email investorrelations@garanti.com.tr
Tel +90 (212) 318 2352
Fax +90 (212) 216 5902
Internet www.garantibank.com

IFRS Earnings Presentation, March 31, 2012

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IFRS Earnings Presentation, March 31, 2012