REG - Turkiye Garanti Bank - The revised Corporate Governance Rating <Origin Href="QuoteRef">GARAN.IS</Origin>

Turkiye Garanti Bankasi ASAnnouncement

11/12/2017 07:05

RNS Number : 9262Y
Turkiye Garanti Bankasi
11 December 2017
TO: Investment Community
FROM : Garanti Bank / Investor Relations 
SUBJECT:Announcement regarding the revised Corporate Governance Rating
DATE: December 11, 2017
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 17.07.2016 for a period of two years. As a result of JCR Eurasia Rating's assessment, our Bank has increased its Corporate Governance Rating score to 9.51 from 9.27 over 10.
The Bank's overall Corporate Governance Rating is determined, in compliance with the relevant regulations of the CMB, under the weighted sub-sections (Shareholders, Public Disclosure and Transparency, Stakeholders, Board of Directors). The overall Corporate Governance Rating and sub-section ratings are as below: 
Sections
Weight
Score
Shareholders
25%
9,22
Public Disclosure and Transparency
25%
9,40
Stakeholders
15%
9,57
Board of Directors
35%
9,66
Total

9,51
Garanti Bank's overall compliance with CMB Corporate Governance Principles and the distribution of compliance levels in each of the four main sections with comparison to the previous terms are as below:
Main Sections
Dec 11, 2014
Dec 10, 2015
Dec 9, 2016
Dec11,2017
Shareholders
9,07
9,07
9,22
9,22
Disclosure and Transparency
9,25
9,25
9,25
9,40
Stakeholders
9,05
9,23
9,23
9,57
Board of Directors 
9,15
9,25
9,34
9,66
Corporate Governance Overall Score
9,14
9,20
9,27
9,51
Corporate Governance Rating Report prepared by JCR Eurasia Rating is accessible on the Bank's Investor Relations websitewww.garantiyatirimciiliskileri.com and www.garantiinvestorrelations.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 Communiqu, 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 Bank
Contact Garanti Bank Investor Relations:
Tel: +90 212 318 2352 
Fax: +90 212 216 5902
E-mail: investorrelations@garanti.com.tr
www.garantiinvestorrelations.com

This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCEAKAFFLAXFEF