How can I conduct my own DCF valuation? or any other valuation. I have to make many assumptions as the only info provided is balance sheet and income statement.

2004 2005 2006E Carveout Adjustment 2006E 2007E 2008E

Balance Sheet

Assets

Cash 1 116 1 130 -200 585 590 575

Marketable securities 1 631 2199 -950 1 449 1 348 1 280

Reserve Deposits 564 711 0 587 526 610

Loans 6 047 8 512 -2 250 9 393 12 023 14 428

Fixed and intangible assets 233 278 0 259 269 251

Other assets 333 377 0 384 392 400

Total Assets 9 924 13 207 -3 400 12 658 15 148 17 544

Liabilities

Deposits 6 657 7 327 -2 600 6 181 7 520 8 712

Amount due to banks 371 370 0 300 306 312

Borrowings 1 295 3 556 -800 3 531 4 188 4 868

Subordinated debt 200 269 0 250 350 350

Other liabilities 549 476 0 497 501 505

Shareholders' equity 851 1 209 1 899 2 284 2 796

Total liabilities and shareholders' equity 9924 13 207 -3 400 12 658 15 148 17 544

2004 2005 2006E 2007E 2008E

Income Statement

Interest income 1 042 1 473 1 540 1 606 1 740

Interest expenses 503 735 774 780 807

Net interest income 539 738 765 825 933

Provision for NPLs 37 82 66 91 105

Net FX gains 7 42 -8 -18 -20

Net capital market gains 23 24 31 67 72

Adjusted net interest income 532 721 723 784 880

Net fees and commissions 202 316 358 455 577

Non-banking revenues 0 2 3 3 5

Other non-interest income 42 49 71 51 61

Other non-interest expenses 425 549 546 585 670

Income before monetary gain and taxes 351 540 610 707 853

Minority interest -10 -12 -13 -14 -17

Monetary gain -24 -20 0 0 0

Income taxes 80 144 135 141 171

Extraordinary items 0 0 313 0 0

Net profit 237 364 775 552 666

2003 2004 2005

Ozyegin Family Stake in Finansbank 72,90% 64,62% 55,68%

Note:Carveout Adjustments reflect the sale of the non-Turkish operations and projections are for the Turkish operations. Part of the acquisition deal offer.