Asya Katilim Bankasi A.S. Syndicated US$50 million Murabaha Financing Facility

The Facility has been structured as a dual tranche 1 and 2 year facility. Proceeds of the Facility will be used to finance Bank Asya's Islamic trade finance activities.

Summary details of the Facility

Purchaser: Asya Katilim Bankasi A.S.
Facility Amount: US$50,000,000
Facility Type: Syndicated Murabaha Financing Facility
Purpose: To finance Bank Asya's trade finance activities
Term: Tranche A - 1 year
Tranche B - 2 years
Repayment: Bullet

Mandated Lead Arrangers' roles:

Bookrunners: ABC Islamic Bank (E.C.), Standard Chartered Bank, Unicredit Markets & Investment Banking (acting through Bayerische Hypo- und Vereinsbank AG)
Investment Agent: ABC Islamic Bank (E.C.)
Information Memorandum: Standard Chartered Bank
Documentation: Standard Chartered Bank
Publicity: ABC Islamic Bank (E.C.)

Bank Asya was established on October 24, 1996 as a Turkish Private Finance House incorporated in Istanbul, operating in accordance with the principles of interest-free banking.

Asya is one of four 'Participation Banks' currently operating in Turkey, and as such it is subject to the Turkish Banking Act; the regulations of the Banking Regulation and Supervision Agency; and Savings Deposit Insurance Fund regulations. Bank Asya was the first private finance house to be awarded the ISO 9001 Quality Management System Certificate.

As a leading participation bank in Turkey, Asya enjoys a market share of 25% of deposits and a 28% share in domestic financing as at the end of 2005. Asya is also the largest participation bank in terms of shareholders' equity and has been the fastest growing indigenous bank since 2001. It enjoys the highest ROAE (40.6%) in the sector (based on ISE listed banks 2005 year end results) and benefits from sound growth in both current account and profit sharing account deposits.

Bank Asya's balance sheet grew by 45% with total assets of YTL3.825 billion as of September 30, 2006. Following the IPO in May 2006, shareholders' equity as of September 30, 2006 stood at YTL579.9m, recording an increase of 97% over year end 2005, whilst net income at YTL95.9m grew by 41.5% over the comparable third quarter in 2005.

Bank Asya is rated B by Fitch Rating with a stable outlook.