DJ Turkiye Garanti Bankasi A.S.: Announcement regarding our Bank's Corporate Governance Compliance Rating
Turkiye Garanti Bankasi A.S. (TGBD)
Turkiye Garanti Bankasi A.S.: Announcement regarding our Bank's Corporate Governance Compliance Rating
07-Dec-2024 / 10:31 GMT/BST
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TO: Investment Community
FROM: Garanti BBVA / Investor Relations
SUBJECT: Announcement regarding our Bank's Corporate Governance Compliance Rating
DATE: December 06, 2024
Our Bank has signed an agreement with JCR Eurasia Rating, which is an authorized rating agency operating under the
license of the Capital Markets Board of Turkey ("CMB") in accordance with the Corporate Governance Principles issued by
the CMB, on 12.07.2024 for a period of one year. As a result of JCR Eurasia Rating's assessment for 2024, our Bank's
Corporate Governance compliance score has been increased to 9.82 from 9.81 (over 10) and the outlook has been revised
as Stabil.
The level of compliance attained in the previous year across the main sections of Shareholders, Public Disclosure &
Transparency and Stakeholders have been maintained. Compliance score of Board of Directors main section has been
increased to 9.85 from 9.81 The main factor behind this increase is the exceeding of the 25% female member threshold
specified in the Corporate Governance Principles with the appointment of Ms. Ebru Ogan Knottnerus as a member of the
Board of Directors on 27 March 2024. Due to JCR-ER's opinion that during the upcoming monitoring period following the
publication date of this report Garanti BBVA will maintain its high level of compliance, both in the overall compliance
rating and in the four main segment ratings. Therefore, the Bank's outlook rating has been determined as "Stable".
The Bank's overall Corporate Governance Rating is determined, in compliance with the relevant regulations of the CMB,
under the weighted four sub-sections. Compliance levels in each of the four main sections with comparison to the
previous year are as below.
Main Sections Weight Dec 08, 2023 Dec 06, 2024
Shareholders 25% 9.73 9.73
Public Disclosure and Transparency 25% 9.85 9.85
Stakeholders 15% 9.87 9.87
Board of Directors 35% 9.81 9.85
Corporate Governance Overall Score 9.81 9.82
The Bank will remain to be within the scope of Borsa Istanbul Corporate Governance Index due to its overall corporate governance compliance score being higher than the threshold score of "7". Corporate Governance Rating Report prepared by JCR Eurasia Rating is accessible on the Bank's Investor Relations website (www.garantibbvainvestorrelations.com).
*In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
We declare that our above statements are in conformity with the principles included in the Board's Communiqué, Serial II Nr.15.1, that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
Yours sincerely,
Garanti BBVA
Contact Garanti BBVA Investor Relations:
Tel: +90 212 318 2352 Fax: +90 212 216 5902 E-mail: investorrelations@garantibbva.com.tr www.garantibbvainvestorrelations.com
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ISIN: US9001487019 Category Code: MSCL TIDM: TGBD LEI Code: 5493002XSS7K7RHN1V37 Sequence No.: 363774 EQS News ID: 2046333 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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December 07, 2024 05:32 ET (10:32 GMT)
