TÜRKİYE GARANTİ BANKASI A.Ş. (GARANTİ BANK)

Garanti Bank ("Garanti") is the second largest private bank in Turkey with $65.6 billion consolidated asset size as of December 31, 2007. Garanti provides retail, commercial, corporate and private banking services to over 6.9 million customers. As of December 2007, it operates 583 domestic branches, five foreign branches (in Luxembourg, Malta and Northern Cyprus (3), four international representative offices (in Moscow, London, Dusseldorf and Shangai), 1,854 ATMs, a call center and an internet bank utilizing its state-of-the-art technology and focusing in customer satisfaction.

Garanti was established as a privately owned commercial bank in Ankara in 1946.   In 1983, Doğuş Group - one of Turkey's largest conglomerates with operations in processed food, retailing, contracting, financial services and tourism - acquired Garanti.  In 2001, Garanti became one of the largest players in Turkish banking sector as a result of Doğuş Group's strategic decision to merge all its banking operations under Garanti.  Since Doğuş Group's acquisition of Garanti, its assets grew from $386 million reaching $58 billion by December 2007.

Since December 23rd, 2005, Doğuş Holding and GECF, the Bank's majority shareholders, act in accordance with the principle of equal partnership. The board consists of equal number of directors appointed from Doğuş Group and GECF and it is chaired by Mr. Ferit Şahenk - Chairman/CEO of Doğuş Group. Mr. Ergun Özen, President and CEO of Garanti Bank, is the jointly appointed board member by GECF and Doğuş.

Garanti is the leading financial institution in commercial banking in Turkey and a preferred business partner of large local companies as well as multinationals. Garanti is the leader in foreign trade, financing 17% of Turkey's exports and 15% of its imports; cash management, custody and internet banking and manages the fastest growing credit card loyalty reward program in Turkey.

As a key competitive advantage, Garanti has long shown a distinguished ability for product innovation. Over the last ten years numerous initiatives have been rolled out that stand witness to culture of innovation and of finding new services and solutions that enhance our customers' expectations. These range from "E.L.M.A."; the first multi-currency cash management account, Internet and telephone banking, to Bonus Card; Turkey's first multi-branded chip-based credit and loyalty card program, Shop & Miles; the first frequent flyer program credit card, Flexi Card; the first credit card in Europe to allow customers to create their ideal credit card, customized to their specific financial needs Minibank; the innovative banking program for kids. The spirit of innovation has entrenched Garanti Bank's position in the respective areas.

Numerous institutions around the world have acknowledged Garanti Bank's excellence in its products and services. Garanti Bank has been the first Turkish bank to receive 'ISO 9001:2000 Quality Certificate' covering all its banking departments and functions. Global Finance selected Garanti as “Europe’s Best Consumer Internet Bank” in 2007. For the first time, this award was won by a Turkish bank. Having won the title of Turkey’s Best Consumer Internet Bank for the seventh year in a row, Garanti came in first for the online consumer banking sub-categories of Best Website Design in Europe, Best Investment Management Services and Best Security Management as well. Garanti Bank was honored with the Euromoney Award for Excellence and has been named “Turkey’s Best Bank” for the eighth time. According to the results of the “Turkey’s Most Admired Companies” survey held by the magazines Capital and Platin, Garanti Bank was the only financial institution ranking in the top three. garanti.com.tr won the "Golden Spider Web Competition Grand Prize" in the "Finance" category for the fifth consecutive year in 2007 while paragaranti.com was voted the "Third Best Finance Site" as Turkey's most comprehensive and functional finance portal. EFQM (European Foundation for Quality Management) presented Garanti Call Center with the "Committed to Excellence in Europe" award in 2004, making it the first Call Center in the world to receive this award..

Garanti became the first and only institution in Turkey established with Turkish capital to qualify for Investors In People (IIP) standards, an international respected measurement of a company's investment in human resources.

Garanti has a state-of-the-art technology infrastructure and most efficiently utilizes its alternative delivery channels, thereby reducing cost while enhancing market share. Garanti has achieved remarkable success in migrating banking transactions from branches to alternative distribution channels. As of December 2007, almost 85% of all banking transactions were carried out via alternative channels including ATMs, internet and the call center, a ratio that is above even those of developed market banks. Due to efficiency gains in centralized operations, high delivery channel usage and highly qualified human resources, Garanti is the leader in per branch productivity in terms of assets, loans, deposits and interest-earning assets among its peer group.

Garanti operates as a full service financial supermarket composed of subsidiary companies focused on providing integrated and synergetic services. Established in Amsterdam in 1991, Garanti Bank International N.V., wholly owned subsidiary of Garanti, operates as Garanti's international trade finance bank, with offices in Germany and Romania. Garanti Bank Moscow that started its operations in 1996, provides a wide range of banking services in Russia to Turkish and Russian companies. Garanti Securities is the leading securities house and investment bank in Turkey. Garanti Asset Management is the fourth largest in its sector with $3.6 billion under management. Garanti Leasing , established in 1990, is the fastest growing leasing company in Turkey and the only Turkish leasing company rated by international credit rating institutions. Garanti Factoring is one of Turkey's oldest factoring companies and is the only Turkish factoring company to be internationally rated as well as the only Turkish member of IFG and FCI Garanti Pension and Life Company started operating in 2003 as a pension fund company in line with legal changes regarding private pension funds. Garanti Payment Systems , established in 1999 as the single service point for the entirety of Garanti's credit card business, is the company behind the fastest growing and most innovative products in the credit card business. Finally, Garanti Technology, the information technology provider of Garanti as well as the Doğuş Group, provides business development, security, applications, systems, operations and network applications for the banking, financial services, retail and automotive sectors.

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