Garanti Bank International N.V

As a "global boutique", GBI delivers fast, accurate, tailor-made, innovative and country-specific financial solutions to its clients globally in the areas of Trade Finance, Private Banking and Structured Finance.

Transactional commodity finance, structured trade finance and trade banking products such as syndicated loans and forfaiting are covered under Trade Finance Division and attract SMEs and corporate clients as well as financial institutions globally. GBI prides itself on delivering seamless and superior execution and on creating value around global trade flows.

In Private Banking, GBI offers a broad range of global financial products and services to international high net worth individual and institutional clients through its high level of service quality and product sophistication. The services are delivered in 3 forms: Discretionary Asset Management, Advisory Services and Direct Execution.

In Structured Finance, GBI targets delivering project finance, Islamic finance and ship finance services globally and aims to create synergies with its other business lines.

GBI has a Long Term Deposits Rating of ‘A3' from Moody's. This rating, which is 7 notches higher than Turkish sovereign rating, reflects GBI's role as a niche player in the competitive segment of international trade and commodity finance, strong financial fundamentals and asset quality, historically low credit losses, reliable funding profile and solid profitability.

2008 Activities

Despite the global financial turmoil, GBI registered a very successful performance in 2008 compared to its peers in Europe, reaching the same level of net profit generated in 2007.

Due to its strategic focus on low risk / fundamental banking activities such as Trade Finance and Private Banking, GBI maintained its high asset quality with a very low NPL ratio against the backdrop of persistently deteriorating credit markets.

GBI had no exposure to sub-prime market, asset-backed securities or any other leveraged instruments.

Moody's reconfirmed GBI's Long-term Bank Deposits rating of A3 with a stable outlook in October 2008.

As of 2008, GBI became one of the "5" Dutch banks ready for BASEL II - IRB Approach. The smooth transition to BASEL-II reinforced GBI's capital base further.

All business lines performed well, in spite of adverse market conditions.

A survey published by "Trade & Forfaiting Review" in August 2008 revealed GBI being ranked among the best global trade finance banks, once again.

2008 Activities in Romania

GBI Romania opened 8 more agencies, reaching a network of 49 operational units throughout the country, with 15 of these units located in Bucharest.

Total assets doubled to Euro 500 million, mainly due to the increase in loans to individuals, which totaled Euro 400 million in 2008, almost 6 times compared to 2007.

On the liabilities side, deposits from banks and funds entrusted increased 2.5 times.

The number of customers reached 43,000, of which retail customers represented more than 90% of the total, while the rest was SMEs and large corporates.

In November 2008, the bank launched the first ‘pay-pass' credit card in Romania.

The Bank has also issued 24,500 Bonus credit cards since its launch in late 2007.

GBI Romania concluded a partnership agreement with EximBank Romania to offer clients specific products (collaterals and insurance) and to cooperate in financing projects related to its areas of priority: SMEs development and export business.

Future Plans

GBI will continue to focus on its core business lines of Trade Finance, Private Banking and Structured Finance, which are inherently low risk activities, while moving on adding value to its esteemed clientele.

GBI will maintain delivering steady returns on equity through its prudent and sustainable growth strategy.