Convenience translation into english

CONVENIENCE TRANSLATION INTO ENGLISH OF PUBLICLY AVAILABLE

FINANCIAL STATEMENTS ORIGINALLY ISSUED IN TURKISH, SEE NOTE IN SECTION SIX/II
AKBANK T.A.Ş.

UNCONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY - 31 MARCH 2004
CONTENTS
PAGE

SECTION ONE

GENERAL INFORMATION

1. 
   Bank’s services and nature of operations 1
   
2. 
   Information about the Bank’s major shareholding group 1
   
3. 
   Information and disclosures on interim financial statements. 1
   
4. 
   Other information 2
   

SECTION TWO

UNCONSOLIDATED FINANCIAL STATEMENTS
I. Inflation adjusted balance sheet - assets 3

II. Inflation adjusted balance sheet - liabilities and shareholders’ equity 4

III. Inflation adjusted income statement 5

IV. Inflation adjusted off-balance sheet commitments 6

SECTION THREE

EXPLANATIONS ON SIGNIFICANT ACCOUNTING POLICIES
I. Explanation on the presentation of financial statements 7

II. Subsidiaries, associates and share certificates included in the available-for-sale portfolio 7

III. Foreign currency transactions 8

IV. Explanation on derivative instruments 9

V. Offsetting financial instruments 9

VI. Interest income and expense 10

VII. Fee and commission income and expenses 10

VIII. Trading securities 10

IX. Sales and repurchase agreements and securities lending transactions 10

X. Explanation on investment securities held-to-maturity and investment securities

available-for-sale 11

XI. Bank originated loans and receivables and specific and general provisions 12

XII. Goodwill and other intangible assets 12

XIII. Property and equipment 13

XIV. Leasing transactions 13

XV. Provisions and commitments 14

XVI. Obligations related to employee rights 14

XVII. Taxes….…....... 14

XVIII. Explanations on borrowings 15

XIX. Paid-in capital and treasury stock 15

XX. Avalized drafts and acceptances 15

XXI. Government grants 15