Annual Report 2025 To the Future with Shared Values
Contents Part One: General Information 14 Performance of A&T Bank in 2025 15 2025 Highlights 16 About A&T Bank 18 Annual Report Compliance Opinion 19 Shareholding Structure and Paid-In Capital 20 Amendments to the Articles of Association 22 Financial Indicators 24 Assessments of Financial Strength, Profitability, and Debt Repayment Capacity 26 Summary Financial Highlights for the Past Five Years 26 Ratings of the Bank 27 Research and Development Implementations for New Services and Activities 28 Vision, Mission, and Values 30 Milestones 32 Message from the Chairman 36 Message from the General Manager 40 2025 Performance of the Global Economy and Türkiye’s Economy 42 Turkish Banking Sector in 2025 44 A&T Bank in the Turkish Banking Sector 46 Operations in 2025 48 Treasury 50 Financial Institutions 52 Sales, Marketing, and Digital Banking 56 Credits 58 Information Technologies Management 60 Operations 62 Human Resources Management and Organization 66 Support Departments and Units 68 Sustainability 70 Subsidiary: A&T Finansal Kiralama A.Ş. Part Two: Management and Corporate Governance Practices 72 Board of Directors Report Submitted to the General Assembly 74 Board of Directors 78 Senior Management 79 Group Managers 81 Managers in Charge of Internal Systems Departments 82 Audit Committee’s Assessments of the Functioning of the Internal Audit, Internal Control, Compliance, and Risk Management Systems and Information on Activities During the Reporting Year 85 Relations with the Bank’s Risk Group 86 Committees 88 Individuals and Institutions Offering Support Services 89 Other Regulatory Explanations Part Three: Unconsolidated Financial Information 92 Independent Audit Report 98 Unconsolidated Financial Report Part Four: Consolidated Financial Information 204 Independent Audit Report 210 Consolidated Financial Report Addresses
At A&T Bank, we believe that shared values are the fundamental force that will carry us into the future amid changing conditions and expectations. By combining the global experience gained from our position in the Middle East and North Africa region with our confidence in the Turkish economy, we moved decisively toward our goals throughout 2025. Our new customer acquisitions, strategic collaborations, and expanding product portfolio contributed to our steady growth. Our effective risk management and strong financial performance further solidified our reliable banking approach. We supported our responsibility to the environment, people, and community with our agile process management, producing quick and effective solutions to changing needs. Leveraging the strength we derive from shared values, we will continue to provide sustainable benefits to all our stakeholders and advance together toward a reliable future.
A&T Bank Annual Report 2025 2 Despite changing market conditions, we delivered a solid financial performance with a win-win approach. We achieved a 51% increase in our total assets owing to steps that strengthened our capital structure and our increased resources. In parallel, we recorded 42% growth in deposits and diversified our funding sources, bringing our balance sheet to a more balanced composition. We increased our total loans to TL 12.9 billion and managed to keep our non-performing loan ratio at 0.01%. We strengthened our operational activities with our expanding customer portfolio and achieved our financial targets. The value of win-win
Part One: General Information 3
A&T Bank Annual Report 2025 4
Part One: General Information 5 We steadily continued our growth journey thanks to our trust-based collaborations even under changing market dynamics. With our strong performance in foreign trade, we successfully reached our foreign trade target of USD 1.7 billion. We steadily continued our export transactions across different geographical regions owing to our extensive correspondent banking network. With the responsibility of being the first Turkish bank specializing in trade between Türkiye and the MENA Region, we nearly doubled our export volume yearover-year. The value of moving forward with confidence
A&T Bank Annual Report 2025 6 While the resources used and preserved vary, the value of a sustainable future guides us in all our decisions. We place financial responsibility for a sustainable future at the core of our business and conduct all our operations with a long-term value creation approach. By integrating environmental, social, and governance (ESG) criteria into our lending processes, we aim to ensure that investments which we finance create sustainable value. The value of a sustainable future
Part One: General Information 7
A&T Bank Annual Report 2025 8
Part One: General Information 9 While methods of the digital transformation journey vary, the principle of adapting to the pace of the era holds the same universal value. We updated our information technology infrastructure and upgraded our main banking system to the most recent version. We modernized our data centers and enhanced them with AI-supported applications. Through Open Banking integration, we enabled our customers to access and transact on their A&T Bank accounts from different banking platforms. We accelerated our processes with automation applications that increase operational efficiency, further advancing our agile and innovative banking approach. The value of keeping up with the times
A&T Bank Annual Report 2025 10 While our employees’ career journeys vary, the value we place on equal opportunities forms the foundation of our sustainable success. Aware that our talented human resources are the source of our success, we develop our corporate competencies with a people-centric approach. We are strengthening employee experience and operational efficiency with the digital transformation we launched in human resources management. We aim to launch the Human Resources Management System, covering payroll, performance, recruitment, as well as training and development processes, in 2026. With this system, we are transforming our human resources processes into an integrated, user-friendly, and efficient structure. The value of equal opportunities
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A&T Bank Annual Report 2025 12
Part One: General Information 13 As the needs of society and individuals change, we remain committed to supporting social responsibility projects that keep our shared hope alive. Throughout the year, we contributed to social progress through our social responsibility activities that prioritize benefiting people. We carried out projects in the fields of education, environment, and social solidarity with the active participation of our employees. In collaboration with the TEMA Foundation, we supported forestation efforts by donating saplings. At the Istanbul Marathon, we ran for the benefit of the Spinal Cord Paralytics Association of Türkiye and contributed to battery-powered wheelchair donations. To strengthen equal opportunity in education, we provided library support to a school and contributed to meeting its needs for educational materials and basic supplies. The value of sharing hope
A&T Bank Annual Report 2025 14 Performance of A&T Bank in 2025 Strong performance and expertise in foreign trade Operating with a focus on a strong equity structure and sustainable profitability, A&T Bank continued to support its customers in 2025. Total Assets 599% increase in total assets in the last 10 years Türkiye-Libya Total Trade Volume The first choice for Turkish entrepreneurs in target markets with strong potential, particularly North Africa Equity Size A business model focused on a strong equity structure and sustainable profitability Capital Adequacy Capital adequacy on par with the banking industry average Non-Cash Loans A bank specializing in non-cash lending with solutions designed for its customers’ financing needs Net Profit Growth centered on profitability Foreign Trade Volume Continuing to increase its support for customers in foreign trade transactions TL 28.1billion USD 1.1 billion TL 5.2 billion 20.0% TL 28.6 billion TL 565.0 million USD 1.7 billion
Part One: General Information 15 2025 Highlights Restructured digital infrastructure A&T Bank completed its Open Banking integration and transaction security projects during the operating period. Our financial resilience increased in 2025 A&T Bank strengthened its equity structure and boosted its financial resilience with a capital increase in 2025. During the same period, the Bank increased its resource diversity and balanced its funding structure, creating a stable financial framework that supports its effective risk management and sustainable growth targets. We aimed to simplify banking experience by modernizing our digital channels Accelerating its efforts to restructure its digital infrastructure, A&T Bank completed its Open Banking integration and transaction security projects during the operating period. These innovations resulted in a more seamless user experience, facilitated easier access on mobile and internet channels, simplified transaction flows, and updated security standards. We launched our new financing product for exporters In 2025, A&T Bank successfully completed the integration of the Central Bank of the Republic of Türkiye (CBRT) rediscount credits infrastructure and operational processes. With this product offered to customers, access to financing was accelerated while achieving an increase in accuracy and efficiency in transaction flows. We established a new organization in sustainability governance Having strengthened its sustainability vision at the corporate level with the Sustainability Committee established at the end of 2024, A&T Bank created its reporting infrastructure in 2025. Publishing its first sustainability report, the Bank complied with environmental, social, and governance principles and took a significant step toward transitioning to the new reporting framework based on the Turkish Sustainability Reporting Standards (TSRS). We expanded our international network through regional collaborations A&T Bank participated in the Turkish-Arab Economic Forum as a Platinum Sponsor and strengthened its relationships with Turkish and Middle Eastern financial circles. This initiative increased the Bank’s international recognition while also paving the way for new partnerships in financing regional trade. We launched digital transformation in human resources management Launching its project for the digital transformation of the Human Resources Management System, A&T Bank completed its preparations for the new system to be launched in 2026. This system, which includes payroll, leave, performance, recruitment, and training and development modules, targets an integrated, efficient, and user-friendly structure in human resources processes. Additionally, efforts to simplify processes and align the organizational structure with the Bank’s strategies gained momentum.
A&T Bank Annual Report 2025 16 A&T Bank was founded in 1977 as a joint venture bank. 1977 year of establishment About A&T Bank An expert bank in trade intermediation A&T Bank enjoys a special position in the Turkish banking sector thanks to its robust financial structure and the Bank’s expertise in intermediating the trade between Türkiye and North African countries. A&T Bank was founded in 1977 in accordance with the agreement between Libya and Türkiye regarding the establishment of a joint bank, which was signed in Tripoli, Libya on August 11, 1975, to foster trade between the two countries. The Bank is 63.23% Libyan-owned, 36.01% Turkish-owned, and 0.76% Kuwaiti-owned. Libyan Foreign Bank, a wholly owned subsidiary of the Central Bank of Libya, represents the entirety of Libyan capital in A&T Bank. Türkiye İş Bankası A.Ş. and T.C. Ziraat Bankası A.Ş. hold 20.58% and 15.43% of the Bank’s paid-in capital, respectively. Kuwait Investment Company holds a share of 0.76%. A&T Bank, which is headquartered in Istanbul, operates with a total of four branches in Istanbul (Main and Kozyatağı), Ankara, and Gaziantep. As of the end-2025, A&T Bank has 251 employees. A&T Bank enjoys a special position in the Turkish banking sector thanks to its robust financial structure and the Bank’s expertise in intermediating the As of the end-2025, A&T Bank has 251 employees. 251 employees trade between Türkiye and North African countries. The Bank plays an important role in helping boost Türkiye’s banking sector and trade. A&T Bank makes significant contributions to the country’s industrial sector and commerce, by financing trade to the target regions, securing funds from overseas, performing treasury transactions, and extending corporate loans. In addition, the Bank’s subsidiary A&T Finansal Kiralama A.Ş. supports Türkiye’s real economy. As a result of the steady growth built thanks to the banking relations, experience, and knowledge of its founders and personnel with the region for 48 years, A&T Bank has become an important player in this special region with unique characteristics. With its mission of becoming a bridge of value between Türkiye and the region, the Bank will continue to create value for our country by supporting the real economy with know-how, expertise and effective financing, as it was in the past.
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A&T Bank Annual Report 2025 18 Annual Report Compliance Opinion CONVENIENCE TRANSLATION INTO ENGLISH OF INDEPENDENT AUDITOR’S REPORT ON THE BOARD OF DIRECTORS’ ANNUAL REPORT ORIGINALLY ISSUED IN TURKISH To the General Assembly of Arap Türk Bankası A.Ş. 1. Opinion We have audited the annual report of Arap Türk Bankası A.Ş. (the “Bank”) and its subsidiary (the “Group”) subject to consolidation for the period 1 January 2025 - 31 December 2025. In our opinion, the consolidated and unconsolidated financial information and the analysis made by the Board of Directors by using the information included in the audited consolidated and unconsolidated financial statements regarding the Group’s and Bank’s position in the Board of Directors’ Annual Report are consistent and presented fairly, in all material respects, with the audited full set consolidated and unconsolidated financial statements and with the information obtained in the course of independent audit. 2. Basis for Opinion Our independent audit was conducted in accordance with the Standards on Independent Auditing (the “SIA”) that are part of the Turkish Standards on Auditing issued by the Public Oversight Accounting and Auditing Standards Authority (the “POA”) and the “Regulation on Independent Audit of Banks” published on the Official Gazette No.29314 dated 2 April 2015. Our responsibilities under these standards are further described in the “Independent Auditor’s Responsibility in the Audit of the Annual Report” section of our report. We hereby declare that we are independent of the Group in accordance with the Ethical Rules for Independent Auditors (including Independence Standards) (the “Ethical Rules”) issued by the POA, the ethical requirements regarding independent audit in regulations issued by the POA that are relevant to our audit of financial statements. We have also fulfilled our other ethical responsibilities in accordance with the Ethical Rules and regulations. We believe that the audit evidence we have obtained during the independent audit provides a sufficient and appropriate basis for our opinion. 3. Our Audit Opinion on the Full Set Consolidated and Unconsolidated Financial Statements We expressed an unqualified opinion in the auditor’s reports dated 19 February 2026 on the Group’s and Bank’s full set consolidated and unconsolidated financial statements for the period 1 January 2025 - 31 December 2025. 4. Board of Director’s Responsibility for the Annual Report The Group management’s responsibilities related to the annual report according to Articles 514 and 516 of Turkish Commercial Code (“TCC”) No. 6102, Capital Markets Board’s (“CMB”) Communiqué Serial II, No:14.1, “Principles of Financial Reporting in Capital Markets” (the “Communiqué”) and “Regulation on Principles and Procedures Regarding Preparation and Promulgation of Annual Reports by Banks” published in Official Gazette No.26333 dated 1 November 2006 are as follows: a) to prepare the annual report within the first three months following the balance sheet date and present it to the General Assembly; b) to prepare the annual report to reflect the Group operations in that year and the financial position in a true, complete, straightforward, fair and proper manner in all respects. In this report financial position is assessed in accordance with the financial statements. Also in the report, developments and possible risks which the Group may encounter are clearly indicated. The assessments of the Board of Directors in regards to these matters are also included in the report. c) to include the matters below in the annual report: − events of particular importance that occurred in the Group after the operating year, − the Group’s research and development activities, − financial benefits such as salaries, bonuses, premiums and allowances, travel, accommodation and representation expenses, benefits in cash and in kind, insurance and similar guarantees paid to members of the Board of Directors and senior management. When preparing the annual report, the Board of Directors considers secondary legislation arrangements enacted by the Banking Regulation and Supervision Agency, Ministry of Trade and other relevant institutions. 5. Independent Auditor’s Responsibility in the Audit of the Annual Report Our aim is to express an opinion and issue a report comprising our opinion within the framework of TCC, Communique and “Regulation on Independent Audit of Banks” published on the Official Gazette No.29314 dated 2 April 2015 provisions regarding whether or not the consolidated and unconsolidated financial information and the analysis made by the Board of Directors by using the information included in the audited consolidated and unconsolidated financial statements in the annual report are consistent and presented fairly with the audited financial statements of the Group and the Bank and with the information we obtained in the course of independent audit. Our audit was conducted in accordance with the TSAs. These standards require that ethical requirements are complied with and that the independent audit is planned and performed in a way to obtain reasonable assurance of whether or not the financial information and the analysis made by the Board of Directors by using the information included in the audited financial statements in the annual report are consistent and presented fairly with the audited consolidated and unconsolidated financial statements and with the information obtained in the course of audit. PwC Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. Özge Arslan Yılmaz, SMMM Independent Auditor Istanbul, 27 February 2026
Part One: General Information 19 Shareholding Structure and Paid-In Capital Shareholders* Paid-in Capital (TL) Libyan Foreign Bank 2,036,680,727.52 Türkiye İş Bankası A.Ş. 662,748,519.40 T.C. Ziraat Bankası A.Ş. 497,061,423.59 Kuwait Investment Company 24,509,284.11 Total 3,221,000,000.00 *Emek İnşaat ve İşletme A.Ş. has a 0.0000014% share of the paid-in capital with a value of TL 45.38. In 2025, the Bank’s shareholding structure and paid-in capital were as follows. Insider Holdings Neither the Chairman nor Members of the Board of Directors, the General Manager, or Assistant General Managers hold any shares in A&T Bank. Libyan Foreign Bank 63.23% Kuwait Investment Company 0.76% T.C. Ziraat Bankası A.Ş. 15.43% Türkiye İş Bankası A.Ş. 20.58%
A&T Bank Annual Report 2025 20 Amendments to the Articles of Association Two amendments were made to the Bank’s Articles of Association during 2025. The previous and current versions of these amended articles are presented in the table below. Amendment Dated February 18, 2025 PREVIOUS VERSION NEWVERSION ARTICLE 6 – CAPITAL ARTICLE 6 – CAPITAL The amount of share capital of the Bank is TL 440,000,000. This capital is divided into 44,000,000,000 shares, each with a nominal value of TL 0.01. The amount of share capital of the Bank is TL 2,580,000,000. This capital is divided into 258,000,000,000 shares, each with a nominal value of TL 0.01. The previous capital of TL 240,000,000 has been fully paid in. The previous capital of TL 440,000,000 has been fully paid in. Of the increased amount of TL 200,000,000, TL 9,096,167.37 will be covered from the Capital Inflation Adjustment Difference, TL 2,816,370.79 from the 2007 Prior Year's Profit, TL 26,125,069.85 from the 2009 Prior Year's Profit, TL 22,524,235.35 from the 2010 Prior Year's Profit, TL 45,234,113.15 from the 2011 Prior Year's Profit, TL 56,336,902.92 from the 2012 Prior Year's Profit, and TL 37,867,140.57 from the 2013 Current Period Profit. Of the increased amount of TL 2,140,000,000 TL, 1,070,294,561.10 will be covered from internal resources, and the entire amount of TL 1,069,705,438.90 has been subscribed to with a pledge for cash payment by the shareholders, free of collusion, and the full amount will be paid in cash by the shareholders before the registration date. For the amount added to the capital, shareholders will be given bonus shares in proportion to their shares. For the internal resources added to the capital, shareholders will be given bonus shares in proportion to their shares, and for the cash amount, shareholders will be given rights issue shares in proportion to their shares. Share certificates are registered, and shareholders are recorded in the Bank's Share Ledger. Each share certificate grants its holder equal rights to vote, receive dividends, and participate in the assets to be distributed in case of liquidation, according to its class. Share certificates are registered, and shareholders are recorded in the Bank's Share Ledger. Each share certificate grants its holder equal rights to vote, receive dividends, and participate in the assets to be distributed in case of liquidation, according to its class. Share certificates must contain the following information: 1. The name of the Bank, and that the Bank was established on April 1, 1977, pursuant to the Agreement dated August 11, 1975, mentioned above, 2. The amount of share capital, 3. The amount of capital on the date of issuance of the share certificate, 4. The nominal value, class, series, and number of the share certificate, how many shares it contains, and the date of registration, 5. The name and surname, or trade name, and address of the shareholder, 6. The amount paid or a statement that the amount has been fully paid, 7. The date of the Bank’s registration with the Trade Registry, 8. The signatures of two authorized persons to be appointed by the Board of Directors. These signatures may be printed in accordance with the law. Share certificates must contain the following information: 1. The name of the Bank, and that the Bank was established on April 1, 1977, pursuant to the Agreement dated August 11, 1975, mentioned above, 2. The amount of share capital, 3. The amount of capital on the date of issuance of the share certificate, 4. The nominal value, class, series, and number of the share certificate, how many shares it contains, and the date of registration, 5. The name and surname, or trade name, and address of the shareholder, 6. The amount paid or a statement that the amount has been fully paid, 7. The date of the Bank’s registration with the Trade Registry, 8. The signatures of two authorized persons to be appointed by the Board of Directors. These signatures may be printed in accordance with the law. In a capital increase, share certificates are to be delivered to shareholders within three months after the capital increase. In a capital increase, share certificates are to be delivered to shareholders within three months after the capital increase. If temporary certificates are issued before the issuance of share certificates, these certificates shall also contain the above information. If temporary certificates are issued before the issuance of share certificates, these certificates shall also contain the above information. The Bank may also issue share certificates in denominations representing more than one share. The Bank may also issue share certificates in denominations representing more than one share. No shareholder may transfer or assign their share certificates to others without the unanimous consent of the other shareholders. Such transfer shall be deemed valid upon its acceptance and registration in the Bank's Share Ledger. No shareholder may transfer or assign their share certificates to others without the unanimous consent of the other shareholders. Such transfer shall be deemed valid upon its acceptance and registration in the Bank's Share Ledger.
Part One: General Information 21 Amendment Dated May 13, 2025 PREVIOUS TEXT NEWTEXT ARTICLE 6 – CAPITAL ARTICLE 6 – CAPITAL The amount of share capital of the Bank is TL 2,580,000,000. This capital is divided into 258,000,000,000 shares, each with a nominal value of TL 0.01. The amount of share capital of the Bank is TL 3.221.000.000. This capital is divided into 322.100.000.000 shares, each with a nominal value of TL 0.01. The previous capital of TL 440,000,000 has been fully paid in. The previous share capital of TL 2,580,000,000 has been fully paid in. Of the increased amount of TL 2,140,000,000 TL, 1,070,294,561.10 will be covered from internal resources, and the entire amount of TL 1,069,705,438.90 has been subscribed to with a pledge for cash payment by the shareholders, free of collusion, and the full amount will be paid in cash by the shareholders before the registration date. The entire amount of the TL 641,000,000 increased at this time has been subscribed to with a pledge for cash payment by the shareholders, free of collusion, and the full amount will be paid in cash by the shareholders before the registration date. For the internal resources added to the capital, shareholders will be given bonus shares in proportion to their shares, and for the cash amount, shareholders will be given rights issue shares in proportion to their shares. For the cash amount added to the capital, paid-in shares will be issued to shareholders in proportion to their shares. Share certificates are registered, and shareholders are recorded in the Bank's Share Ledger. Each share certificate grants its holder equal rights to vote, receive dividends, and participate in the assets to be distributed in case of liquidation, according to its class. Share certificates are registered, and shareholders are recorded in the Bank's Share Ledger. Each share certificate grants its holder equal rights to vote, receive dividends, and participate in the assets to be distributed in case of liquidation, according to its class. Share certificates must contain the following information: 1. The name of the Bank, and that the Bank was established on April 1, 1977, pursuant to the Agreement dated August 11, 1975, mentioned above, 2. The amount of share capital, 3. The amount of capital on the date of issuance of the share certificate, 4. The nominal value, class, series, and number of the share certificate, how many shares it contains, and the date of registration, 5. The name and surname, or trade name, and address of the shareholder, 6. The amount paid or a statement that the amount has been fully paid, 7. The date of the Bank’s registration with the Trade Registry, 8. The signatures of two authorized persons to be appointed by the Board of Directors. These signatures may be printed in accordance with the law. Share certificates must contain the following information: 1. The name of the Bank, and that the Bank was established on April 1, 1977, pursuant to the Agreement dated August 11, 1975, mentioned above, 2. The amount of share capital, 3. The amount of capital on the date of issuance of the share certificate, 4. The nominal value, class, series, and number of the share certificate, how many shares it contains, and the date of registration, 5. The name and surname, or trade name, and address of the shareholder, 6. The amount paid or a statement that the amount has been fully paid, 7. The date of the Bank’s registration with the Trade Registry, 8. The signatures of two authorized persons to be appointed by the Board of Directors. These signatures may be printed in accordance with the law. In a capital increase, share certificates are to be delivered to shareholders within three months after the capital increase. In a capital increase, share certificates are to be delivered to shareholders within three months after the capital increase. If temporary certificates are issued before the issuance of share certificates, these certificates shall also contain the above information. If temporary certificates are issued before the issuance of share certificates, these certificates shall also contain the above information. The Bank may also issue share certificates in denominations representing more than one share. The Bank may also issue share certificates in denominations representing more than one share. No shareholder may transfer or assign their share certificates to others without the unanimous consent of the other shareholders. Such transfer shall be deemed valid upon its acceptance and registration in the Bank's Share Ledger. No shareholder may transfer or assign their share certificates to others without the unanimous consent of the other shareholders. Such transfer shall be deemed valid upon its acceptance and registration in the Bank's Share Ledger.
A&T Bank Annual Report 2025 22 Financial Indicators A&T Bank achieved steady growth in its financial indicators in 2025. Total Assets (TL Thousand) 51.4% growth Total Guarantees and Suretyships (TL Thousand) 75.4% growth Shareholders’ Equity (TL Thousand) 100.5% growth Capital Adequacy (%) 2025 2025 2025 2025 28,122,470 28,591,271 5,227,848 19.99 2024 2024 2024 2024 18,571,894 16,297,557 2,607,592 20.09 2023 2023 2023 2023 14,278,244 13,312,661 2,140,240 18.58 Steady growth in financial indicators
Part One: General Information 23
A&T Bank Annual Report 2025 24 Assessments of Financial Strength, Profitability, and Debt Repayment Capacity Assets At the end of 2025, the Bank’s total assets increased by 51.4% on to the previous year and amounted to TL 28.122 million. In the period examined, the major items of the Bank’s placements consist of net financial assets amounting to TL 11.161 million with 39.7% share, and net financial assets as measured by the amortized cost of TL 14,486 million with 51.5% share. In 2025, net financial assets increased by TL 3.279 million, while net financial assets measured at amortized cost increased by TL 5.485 million. Assets (TL Thousand) 2024 Share (%) 2025 Share (%) Amount % Financial Assets (Net) 7,882,708 42.4 11,161,409 39.7 3,278,701 41.6 Financial Assets Measured at Amortized Cost (Net) 9,001,785 48.5 14,486,335 51.5 5,484,550 60.9 Equity Investments 161,695 0.9 190,227 0.7 28,532 17.6 Tangible Assets (Net) 1,372,893 7.4 1,861,621 6.6 488,728 35.6 Intangible Assets (Net) 11,312 0.1 21,821 0.1 10,509 92.9 Other Assets (Net) 141,501 0.8 401,057 1.4 259,556 183.4 Total Assets 18,571,894 100.0 28,122,470 100.0 9,550,576 51.4 Liabilities At the end of 2025, 18.6% and 81.4% of the Bank’s total liabilities comprise from shareholders’ equity and external resources, respectively. Deposits (TL 14,948 million) and funds borrowed (TL 6,691 million) comprise the majority of external resources. As of year-end 2025, deposits and funds borrowed increased by TL 4,442 million and TL 1,908 million respectively, while shareholders’ equity increased by TL 2,620 million and reached TL 5,228 million. Liabilities (TL Thousand) 2024 Share (%) 2025 Share (%) Amount % Deposits 10,505,568 56.6 14,947,603 53.2 4,442,035 42.3 Funds Borrowed 4,782,940 25.8 6,690,656 23.8 1,907,716 39.9 Lease Liabilities (Net) 4,949 0.0 1,463 0.0 -3,486 -70.4 Provisions 195,773 1.1 283,265 1.0 87,492 44.7 Current Tax Liability 63,568 0.3 131,672 0.5 68,104 107.1 Deferred Tax Liability 90,715 0.5 192,961 0.7 102,246 112.7 Shareholders’ Equity 2,607,592 14.0 5,227,848 18.6 2,620,256 100.5 Other Liabilities 320,789 1.7 647,002 2.3 326,213 101.7 Total Liabilities 18,571,894 100.0 28,122,470 100.0 9,550,576 51.4 Change Change
Part One: General Information 25 Off-Balance Sheet Items As of year-end 2025, the Bank’s total off-balance sheet liabilities increased by 75.4% compared to the end of the previous year and reached TL 28,592 million. Off-balance sheet liabilities consist almost entirely of guarantees and warranties. The balance of letters of guarantee, which is the largest off-balance sheet item, increased by 66.5% to TL 19,027 million in the period examined. Off-Balance Sheet Liabilities (TL Thousand) 2024 Share (%) 2025 Share (%) Amount % Guarantees and Warranties 16,297,557 100.0 28,591,271 100.0 12,293,714 75.4 Commitments 908 0.0 1,176 0.0 268 29.5 Total Off-Balance Sheet Liabilities 16,298,465 100.0 28,592,447 100.0 12,293,982 75.4 Profitability In 2025 the Bank’s net interest income increased by 108.6% to TL 1,698 million, and net fees and commissions income went up by 62.3% to TL 386.6 million. Net operating profit increased by 254.6% to TL 814.7 million while the Bank reported a net term profit of TL 565.0 million in the 2025 operating year. At end-2025, the Bank reported return on assets of 2.41% and return on equity of 13.89%. A&T Bank’s capital adequacy standard ratio of 20.0% is above the minimum rate set out in the relevant legislation by virtue of the Bank’s strong capital structure, ability to tap external sources of funding, and effective risk management implementation. The Bank has the capacity to repay its debts with its liquidity. Income Statement (TL Thousand) 2024 2025 Amount % Interest Income 1,172,334 2,098,599 926,265 79.0 Interest Expense (-) 358,401 400,616 42,215 11.8 Net Interest Income 813,933 1,697,983 884,050 108.6 Net Fees and Commissions Income 238,226 386,636 148,410 62.3 Dividend Income 8,204 28,914 20,710 252.4 Net Trading Gain/Loss (+/-) 48,798 54,771 5,973 12.2 Other Operating Income 32,316 25,971 -6,345 -19.6 Gross Operating Income 1,141,477 2,194,275 1,052,798 92.2 Expected Credit Loss (-) 17,548 99,106 81,558 464.8 Other Provision Expenses (-) 22,493 25,700 3,207 14.3 Personnel Expenses (-) 595,014 849,194 254,180 42.7 Other Operating Expenses (-) 276,652 405,549 128,897 46.6 Net Operating Income/Loss 229,770 814,726 584,956 254.6 Tax Provision (-) 47,582 249,698 202,116 424.8 Net Profit for the Period 182,188 565,028 382,840 210.1 Change Change
A&T Bank Annual Report 2025 26 Summary Financial Highlights for the Past Five Years Ratings of the Bank The international credit rating agency Fitch Ratings upgraded the Bank’s credit ratings as of November 17, 2025, as follows: FC Long Term FC B+ Short Term FC B TL Long Term TL B+ Short Term TL B Viability Rating b+ National Long-Term National Note A(tur) Outlook Long Term FC Stable Long Term TL Stable Long-Term National Note Stable TL Thousand 2021 2022 2023 2024 2025 Total Assets 9,706,492 11,442,014 14,278,244 18,571,894 28,122,470 Cash & Cash Equivalents 3,213,473 2,725,911 4,273,078 6,959,651 10,713,943 Marketable Securities Portfolio 3,465,268 4,565,176 5,494,275 4,095,619 2,124,714 Loans 2,661,837 3,404,852 3,290,502 5,865,632 12,900,162 Deposits 3,944,658 5,519,004 6,914,946 10,505,568 14,947,603 Funds Borrowed and Interbank Money Market 4,254,364 3,798,200 4,808,759 4,782,940 6,690,656 Shareholders’ Equity 1,334,796 1,832,553 2,140,240 2,607,592 5,227,848 Net Term Profit 160,336 213,492 156,657 182,188 565,028
Part One: General Information 27 Research and Development Implementations for New Services and Activities In 2025, A&T Bank continued to leverage the opportunities offered by digital transformation to provide financial solutions best suited to its customers’ banking needs and to ensure the best customer experience while delivering these solutions. During the period, the password envelopes provided to our customers for the initial use of digital channels were replaced with an SMS OTP system, thus offering our users a faster, more secure, and technologically advanced experience. In addition, integration with KKB IBAN verification services was established for EFT transactions carried out through digital channels. The first characters of the name/surname or title of the person or institution to whom the money is sent are displayed on the screen, strengthening transaction verification processes. Furthermore, to improve user experience, the Bank enabled customers to perform transactions with a Turkish Identification Number (TCKN) in the “I want to remove my block” and “I want to get a new password” steps. In 2025, A&T Bank accelerated its digital transformation efforts; completed its integration into the Open Banking Account Information Service Provider (AISP) systems; and enabled customers to view their accounts, monitor their transactions, and initiate payment orders easily through various banking applications. By strengthening the multi-channel architecture, the Bank facilitated access, supported web logins with an SMS OTP system, and redesigned confirmation screens in accordance with the transaction security circular, thereby ensuring that transaction details are presented more transparently and traceably. As a result of these efforts, the balance between accessibility, speed, and security in the Bank’s digital channels has been elevated to a stronger level. In the area of product development, software development, integration, and testing processes, which are prerequisites for the Central Bank of the Republic of Türkiye rediscount credit, were completed, and the product was launched. Screen and flow designs were optimized to simplify the process end-to-end, and the credit facility was rolled out with the goal of accelerating exporter and manufacturing firms’ access to financing. The digital roadmap was prioritized to cover the login, approval, transfer, and notification steps; it was integrated into the digitalization plan for 2026 and included in the sustainable growth strategy. Technology and information security investments made throughout the year ensured a comprehensive strengthening of the digital experience. The internet banking transaction security project was integrated into the operational system, and a transition was made to AI-based protection systems at the endpoints and network layers. Continuity was enhanced through disaster recovery tests and capacity improvement efforts; speed and accuracy rates in letters of guarantee and credit flows were improved with Metastorm–T24 integration and automation projects. All these developments have not only transformed A&T Bank’s digital infrastructure into a more resilient, secure, and user-centric structure but have also created a robust technological foundation for new product developments.
A&T Bank Annual Report 2025 28 Vision, Mission and Values Our Vision To be the bank that is preferred most and does provide the best service in banking transactions between Türkiye and Africa & Middle East countries by ensuring sustainable and profitable growth in the domestic market. Our Mission To be a bank that • always keeps internal and external customer satisfaction at the highest level thanks to the reliable and high-quality service, • close to customers and easy to work with, • operates by taking ethical values and social responsibility awareness into consideration, • open to innovation and improvements, • takes sustainable growth into basis without compromising effective risk management and, • distinctly and continuously increase the value it adds to its customers, employees, shareholders and the economy.
Part One: General Information 29 Our Values Customer Oriented Our priority in all of our operations and efforts is the satisfaction of our customers. For this purpose, we always offer honest, respectful, solution-oriented and cheerful service. Satisfaction of Employees We value our employees and support their personal and professional development. We place emphasis on delegation and encourage our staff to take initiative. We believe that a fair performance management system is essential to increase efficiency. Openness to Change We always question the way we do business with our customers and business partners and carry on efforts to make our business more efficient and more dynamic. Considering our clients’ expectations and necessities, we invest in technology and strive for increasing our service quality. Reliability We establish confidence and loyalty among our customers, colleagues and business partners thanks to our experience, expertise and knowledge in banking services as well as our commitment to corporate values; whereas we keep our promises timely and completely without compromising prudence. Transparency As being A&T Bank employees, we clearly and in a timely manner share the required information with the related third parties on the basis of transparency principles and we ensure the availability of information. Meanwhile, we encourage all of our staff to share their thoughts in a constructive and open manner in accordance with accepted banking practices. Team Spirit We place emphasis on team spirit and believe that success can be achieved through cooperation, mutual trust and respect.
A&T Bank Annual Report 2025 30 Milestones Extensive global network in foreign trade transactions In 2025, A&T Bank’s foreign trade transactions with 35 different countries reached USD 1.7 billion. 1975 The agreement to establish a joint bank between Libya and Türkiye was signed in Tripoli, Libya. 1977 Arab-Turkish Bank was founded within the framework of the 1975 agreement. 1980s A&T Bank became one of the first banks in Türkiye to perform international money-market transactions and foreign-exchange operations. It was also one of the few banks in the country to finance export transactions to North Africa and Middle East countries. 1997 The Bank’s subsidiary A&T Finansal Kiralama A.Ş. was established to carry out leasing operations. 2000-2005 The Turkish economy faced the most destructive twin financial crises of its history at the beginning of the 2000s. The number of banks in Türkiye decreased from 79 to 48 in this period. Thanks to its strong capital structure, effective management and the full support of its main shareholder, A&T Bank was not affected by this severe financial turmoil. In addition, by using its ability to access external sources and injecting them into the financial system, the Bank continued to fulfill its duty of supporting the economy, thereby successfully emerging from this very difficult period, while extending its sustainable growth trajectory. 2008 The Bank unveiled a new strategic plan to reposition itself in the Turkish banking sector. The Bank’s paid-in capital increased 485.4%, from TL 41 million to TL 240 million. 2009 The Bank was restructured and reinvigorated, with new branches opening in Kayseri, Konya and Gaziantep in accordance with its strategy of leveraging and promoting closer ties between Turkish companies and their counterparts in the MENA Region. The new corporate name and rebranded identity were communicated to the public via a nationwide launch campaign. 2012 The Bank opened its seventh branch in Güneşli, Istanbul. Substantial progress was achieved in line with the target of sustainable and healthy growth. The Bank capped the year with a return on equity ratio of 16.58%, exceeding the sector average rate of 15.64%. 2014 A&T Bank’s Internet Branch became operational. At a time when the sector’s return on equity dropped to 12.23%, A&T Bank’s return on equity stood at 15.28%. 2019 A&T Bank maintained asset quality while implementing effective liquidity management in 2019. A&T Bank’s shareholders’ equity topped TL 1 billion while net profit reached a record TL 166.4 million during the year. The Bank also achieved a historic success story with a 19.16% return on equity, which is significantly higher than the sector average of 11.65%.
Part One: General Information 31 2020 In 2020, the fight against the Covid-19 pandemic was the top agenda item globally. A&T Bank took immediate measures to ensure the health and wellbeing of its customers and personnel as well as the continuity of its business processes and services. Thanks to its quick action, A&T Bank maintained all its operations without any interruption. Work on the Mobile Banking application was completed during the year. Despite the unprecedented market conditions and increased risks, A&T Bank closed the fiscal year 2020 with total assets of TL 5.6 billion and a net profit of TL 96.6 million. 2021 The global economy in 2021 was dominated by pandemic-driven economic conditions globally, while fluctuations in financial markets were in the headlines in Türkiye. In this environment, A&T Bank continued to use the opportunities brought about by digitalization in enhancing operational efficiency and service efficacy. Launching the Mobile Banking app in early 2021, the Bank rolled out the Electronic Letter of Guarantee project in the second quarter of the year. In addition, the Banking Regulation and Supervision Agency expanded the Bank’s operating license to allow the provision of “debit card” services in the last quarter of the year. From a financial performance perspective, maintaining its asset quality and successfully continuing its effective risk and liquidity management in 2021, the Bank finished the year with TL 160.3 million in net term profit and 13.94% return on equity. 2022 One of the most important agenda items of A&T Bank’s 2022 business plan was the debit card project, which will enable our retail customers to perform their financial transactions from every corner of the world, and is planned to go live in early 2023. Despite all challenging conditions and increasing risks, the Bank maintained asset quality while implementing effective risk and liquidity management in 2022, and finished the year with an asset size of TL 11.4 billion and a net term profit of TL 213.5 million. 2023 While maintaining the focus of its banking operations in the North Africa market, A&T Bank continued to use its resources efficiently and improve its operational efficiency. The Bank completed the debit card initiative, one of its technology-oriented transformation projects, and entered the world of card payment systems. A&T Bank closed out 2023 with TL 14.3 billion assets and TL 156.7 million net profit for the period in a year where, from a financial performance perspective, asset quality was maintained, and effective risk and liquidity management was executed successfully. 2024 A&T Bank’s effectively conducted initiatives in the foreign trade segment in its target markets in 2024 resulted in important gains in line with its strategy. Continuing to integrate the advantages offered by digitalization into its operations, the Bank developed innovative and sustainable solutions in foreign trade as well as in all of its business lines and increased the value added it creates for its customers. Carrying out effective risk and liquidity management in 2024, A&T Bank ended the year with TL 18.6 billion in assets and TL 182.2 million net profit. 2025 In 2025, A&T Bank reinforced its financial strength with a paid-in capital increase carried out with the participation of all shareholders and rose to 18th place among Banks Association of Türkiye (TBB) member banks by paid-in capital. Maintaining its presence in foreign trade, the Bank increased its share of cash loans to 45.9% and its share of the real sector to 77% in line with its balance sheet composition that prioritizes lending; and increased its non-cash risk balance to TL 28.6 billion driven by the increase in export letters of credit. As foreign trade volume with 35 different countries reached USD 1.7 billion, digitalization and operational development steps gained momentum throughout the year. As a result of its effective risk management and balanced growth strategy, the Bank increased its total assets to TL 28.1 billion and its net profit for the period to TL 565 million.
A&T Bank Annual Report 2025 32 With a growth rate of 3.7% in the first three quarters of 2025, Türkiye’s economy maintained its strong position among G20 countries. A steady economic growth performance The total asset size of Türkiye’s banking industry increased by 43.7% to TL 46,947 billion in 2025. TL 46,947 billion
Part One: General Information 33 Yasin ÖZTÜRK Chairman of the Board of Directors
A&T Bank Annual Report 2025 34 Message from the Chairman An accelerating improvement in macroeconomic conditions In 2025, Türkiye’s banking industry delivered a performance which was supportive of the accelerating improvement in macroeconomic conditions. Esteemed Stakeholders, The global economy continues to seek balance Global economic activity exhibited a moderate growth trajectory while vulnerabilities persisted in 2025. The global growth forecasts of approximately 3% from the International Monetary Fund (IMF) and other multinational institutions point to an ongoing recovery in the face of lingering major risks rather than a full normalization of the global economy. Geopolitical developments, and rising tensions in the Middle East, Asia, and Eastern Europe in particular, continued to influence the direction of trade and investment flows. Protectionist trends, the restructuring of supply chains, and competition in the technology sector were among the main factors limiting the growth potential of international trade. On the other hand, the relative stability in energy and commodity markets helped to ease global inflationary pressures. On the monetary policy front, the long-standing monetary tightening policy by central banks of developed countries, particularly the U.S. Federal Reserve (Fed) and the European Central Bank (ECB), gradually transitioned to a more neutral policy stance in 2025. This process provided limited support to financial conditions while also paving the way for a cautious recovery in capital flows to emerging markets. Nevertheless, global liquidity conditions remain generally selective and cautious. Türkiye’s economy made steady progress against inflation Türkiye’s economy exhibited increased macroeconomic stability driven by monetary and fiscal tightening policies in 2025. The progress made against inflation contributed to a downward trend in inflation expectations and a further strengthening of foreign investor confidence. The decisive policy stance of the Central Bank of the Republic of Türkiye (CBRT), supported by rising foreign exchange reserves and a decline in the risk premium, also had a positive effect on our country’s access to external financing. With a growth rate of 3.7% in the first three quarters of 2025, Türkiye’s economy maintained its strong position among G20 countries. While domestic demand began to level off, the robust performance in exports and tourism revenues continued to support growth. The improvement in current account balance and commitment to fiscal discipline confirmed that the economy is progressing on sound foundations. In 2025, Türkiye’s banking industry delivered a performance which was supportive of the accelerating improvement in macroeconomic conditions. The significant improvement in the composition of funding sources and longer deposit maturities strengthened the sector’s funding base. The sector’s resilience was demonstrated yet again by effective risk management, robust asset quality, and high capital adequacy ratios. The sector’s total loans increased by 44.1% year-over-year to TL 23,128 billion while deposit volume grew by 44.0% to TL 27,226 billion. The sector’s total assets increased by 43.7% to TL 46,947 billion in 2025. These results demonstrate the banking industry’s financially sound and steady position as of year-end 2025.
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