REG-Turkiye Garanti Bankasi A.S. Turkiye Garanti Bankasi A.S.: Announcement regarding our Bank’s Corporate Governance Compliance Rating

Turkiye Garanti Bankasi ASAnnouncement

07/12/2024 10:45

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   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 Oğan 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 İstanbul  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:  1 investorrelations@garantibbva.com.tr

          2 www.garantibbvainvestorrelations.com

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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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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References

   Visible links
   1. mailto:investorrelations@garantibbva.com.tr
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