REG-Turkiye Garanti Bankasi A.S. Turkiye Garanti Bankasi A.S.: Announcement regarding forward looking expectations

Turkiye Garanti Bankasi ASAnnouncement

29/07/2022 14:45

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   Turkiye Garanti Bankasi A.S. (TGBD)
   Turkiye Garanti Bankasi A.S.: Announcement regarding forward looking
   expectations

   29-Jul-2022 / 14:35 GMT/BST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   TO: Investment Community

         FROM : Garanti BBVA / Investor Relations

   SUBJECT: Announcement regarding forward looking expectations

    

   DATE: July 28, 2022

    

    

    

   As per the Article  10 of the  "Communiqué on Material Events  Disclosure"
   (II-15.1) of Capital Markets Board,  T. Garanti Bankası A.Ş has  announced
   its forward  looking statements  regarding the expectations  for the  year
   2022 on February 02, 2022.   You may access the related  presentation that
   was published  on  the  Public Disclosure  Platform,  the  Bank's  website
   and Garanti        Bank         Investor        Relations'         website
   at  1 www.garantibbvainvestorrelations.com in  2 Operating  Plan  Guidance
   section.

    

   With stronger than expected performance and economic activity in the first
   half of the year, the following revisions were made in 2022 Operating Plan
   Guidance. Accordingly,  the return on equity has been revised upwards.

    

                                   2022 Operating Plan Revised 2022 Operating
                                                                Plan
   TL Loans (YoY)                         >25%                  >50%
   FC Loans (YoY, in US$)               Shrinkage            Shrinkage
   Net Cost of Risk                      <150bps              <150bps
   (excluding currency impact)
   NIM                                                       + >400bps*
   (including CPI Income & swap        + 50-75 bps
   cost)                                                *Depends on October
                                                            CPI reading
   Core NIM
   (including swap cost, excluding      Flattish              + 175bps
   CPI Income)
   Net F&C growth (YoY)                   >25%                 > 60%
   OPEX growth (YoY)                    ~avg. CPI            < avg. CPI
   ROAE                                   >20%                  >45%

    

    

   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:  3 investorrelations@garantibbva.com.tr

          4 www.garantibbvainvestorrelations.com

    

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   ISIN:          US9001487019
   Category Code: MSCL
   TIDM:          TGBD
   LEI Code:      5493002XSS7K7RHN1V37
   Sequence No.:  178205
   EQS News ID:   1409529


    
   End of Announcement EQS News Service

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