From: Martin Zeman Sent: 7/19/2018 9:34:01 AM To: 'Paul Barrett ( 'Rob Chhabra' CC: Xavier Avila Davide-A Sferrazza I Stewart Oldfield Subject: Asset quality analysis of six TR banks we cover Attachments: Asset quality performance Analysis - NO LINK.xlsx I; 'Heiko Freitag' ; Bruce McDermott Heiko, Paul, As discussed with both of you, we have a call on Turkey at 10.30am — I will send a separate dial-in invite. See attached for analysis from Kazim who is the equity analyst for the names in the spreadsheet. I am also sending another email behind this one with more analysis so please take a look before the call. Martin 411 Martin Zeman Director I Key Client Partners Deutsche Bark Wealth Management DB Sectxities Inc 54.0004 New York. NY. USA KCP products and services are intended and available only for persons who are sophisticated institutional investors within the meaning of the FINRA Rule 4512(C)(3). and who are capable of evaluating the strategies, characteristics and investment risks ot and exercising independent judgment in evaluating. the ideas and products discussed herein. Trades and transactions are subject to relevant internal approvals of DB& or its affiliates prior to execution, and the execution of any transaction or idea discussed herein is conditkmal on your becoming a client of Deutsche Bank. Key Client Partners (KCP) products, investment ideas and solutions and related matters c6Scussed herein are provided for discussion purposes only. and strictly on a non- advisory basis. The KCP Americas desk does not provide investment advice. The information set forth herein is confidential and personal to you and is being presented for your information and for discussion purposes only. Any reproduction andlor redistnbution thereof (in whole or in part) or disclosure of its content without our written consent is strictly forbidden. This communication does not create any legally binding obligation on the part of CBS! or any Wits aff