In consideration to the recent large decline in Turkish Lira exchange rates, The National Commercial Bank announces that these events have an immaterial impact on the profitability of NCB. This considering that NCB's 67.03% holding in its Turkish subsidiary TFKB, contributes only 2.7% to NCB's Net Income attributable to equity holders, and represents only 3.7% of NCB's Net Assets. Despite the volatility in the Turkish Lira exchange rates, both NCB and TFKB continue to enjoy high capital adequacy and liquidity coverage ratios in excess of all regulatory requirements.

In consideration of the limited impact of TFKB on NCB's results, and in consideration of the hedging strategy in place, as such NCB does not expect a material impact on the financial position and asset quality of NCB.