Announcement regarding the revised Corporate Governance Rating
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
Dec 11, 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 website www.garantiyatirimciiliskileri.com and www.garantiinvestorrelations.com
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Turkiye Garanti Bankasi AS published this content on 11 December 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 December 2017 07:12:05 UTC.
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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.