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IR Release - Replacement of Director and CEO

Replacement of Director and Chief Executive Officer (CEO)

Yapı Kredi Board of Directors announced that Mr. Faik Açıkalın, who has been serving as the Executive Director and CEO at Yapı Kredi since May 2009, has willingly retired from his post effective from December 29, 2017 and Mr. Gökhan Erün will take over his duties as of January 15, 2018. Mr. Gökhan Erün will officially assume the CEO position at Yapı Kredi following the approval from the relevant authorities. Until Mr. Gökhan Erün assumes office, Mr. Niccolò Ubertalli, Deputy CEO at Yapı Kredi, will serve as the acting CEO.

Mr. Ali Y. Koç, Vice Chairman of Koç Holding and Chairman of the Board of Directors of Yapı Kredi, issued a statement on the change in CEO position and thanked Mr. Faik Açıkalın for his successful work and leadership at Yapı Kredi for so long: "Using its digital investments and innovative work in addition to its strong financial performance as a leverage, Yapı Kredi has developed practices and applications that lead digital banking in our country in recent years. I would like to thank him for his services and contribution to our Bank since 2009. I wholeheartedly believe that Mr. Gökhan Erün, who will succeed Mr. Faik Açıkalın as the CEO, will employ his years-long experience in the sector to carry our Bank into the future, achieve further and greater success, and ensure our Bank grows its current contribution to national economy exponentially."

Gökhan Erün graduated from Istanbul Erkek High School and completed his undergraduate studies in İstanbul Technical University Electronics and Communication Engineering Department. He then earned an MBA degree in Yeditepe University. His professional career started in 1994 at the Treasury Department of Garanti Bank. Between 1999 and 2004, he served at Garanti as Head of Commercial Marketing. In 2004, he was appointed as CEO of Garanti Pension, and on September 1, 2005; he was assigned as Senior Vice President of Garanti Bank. Since September 2, 2015; Erün has been serving as Deputy CEO of Garanti Bank. He has also assumed the roles including Chairman of Supervisory Board at Garanti Bank International N.V., Deputy Chairman at Garanti Yatırım ve Menkul Kıymetler A.Ş. and Member of the Board at Garanti Bank Romania SA.

Istanbul, 27.12.2017

Enquiries: Yapı Kredi Investor Relations

Tel: (90) (212) 339 6770

Email: yapikredi_investorrelations@yapikredi.com.tr

Yapı Kredi / 27 Dec 2017