3Q 2008

Garanti expanded its branch network to over 700 branches with the opening of 118 new branches in the first nine months of 2008. At the end of the 3Q08, the number of ATMs deployed by Garanti Bank reached 2,500 making Garanti the second largest bank in Turkey in ATM network size.

In a volatile environment with rising concerns over the global financial markets, Garanti secured a EUR 200 million foreign funding with a maturity of 10 years from the European Investment Bank through its DPR Securitization program in August, 2008. The loan will be placed for growth in SME banking.

As a leading financier of Turkey’s project finance deals, Garanti, extended USD180 mn loan to Zorlu Group for the bridge facility related to its operating rights of the privatization of 8 power plants for a 30 year period and ownership of 1 power plant.