Turkiye Garanti Bankasi A S : Announcement regarding Corporate Governance Rating
December 11, 2014 at 10:06 am EST
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TO : INVESTMENT COMMUNITY
FROM : GARANTI BANK / Investor Relations
Tel: (90 212) 318 2352
Fax: (90-212) 216 5902
E-mail: investorrelations@garanti.com.tr
SUBJECT : Announcement regarding Corporate Governance Rating
DATE : December 11, 2014
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 17.07.2014 for a period of two years. As a result of JCR Eurasia Rating assessment, the Bank's Corporate Governance Rating is given a score of 9.14 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%
9.07
Public Disclosure and Transparency
25%
9.25
Stakeholders
15%
9.05
Board of Directors
35%
9.15
Total
9.14
Corporate Governance Rating Report prepared by JCR Eurasia Rating is accessible on the Bank's web site www.garanti.com.trand 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 Communiqué, Serial VIII Nr. 54., 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
Turkiye Garanti Bankasi AS is a Turkey-based banking institution. It operates under the following business segments: Retail Banking, Corporate/Commercial Banking and Investment Banking. The banking products served to customers are: custody services, time and demand deposits, accumulating deposit accounts, repos, overdraft facilities, spot loans, foreign currency indexed loans, consumer loans, automobile and housing loans, working capital loans, discounted bills, gold loans, foreign currency loans, Eximbank loans, pre-export loans, Export Credit Agency (ECA) covered financing, letters of guarantee, letters of credit, export factoring, acceptance credits, draft facilities, forfeiting, leasing, insurance, forward, futures, salary payments, investment account (ELMA), cheques, safety boxes, bill payments, tax collections and payment orders. The Bank provides service packages to its corporate, commercial and retail customers including deposit, loans, leasing and factoring, among others.