Türkiye Garanti Bankası A.Ş., announced its financial statements dated September 30, 2018. Based on the consolidated financials, Garanti’s asset size reached TL 456 billion 328 million, its contribution to the economy through cash and non-cash loans increased to TL 354 billion 745 million 437 thousand. The Bank delivered an ROAE (Return on Average Equity) of 17.5% and ROAA (Return on Average Assets) of 2.0%.
Commenting on the topic, Garanti Bank Chairman Süleyman Sözen stated that: “The third quarter of 2018 marked the beginning of the rebalancing in the economy. Going forward, I strongly believe that Garanti will continue its uninterrupted support to the economy.”
Giving information about the third quarter developments, Sözen stated that: “Garanti became the first bank in Turkey to execute Green Loan structure, which has been newly emerged in the World.” Emphasizing the synergy created with BBVA, Sözen explained that: “With all the steps taken in the area of sustainable finance, Garanti does not only support the development of the Turkish economy, but also directly contributes to its majority shareholder BBVA in achieving its climate change and sustainable development strategy which has been declared in line with Paris Agreement in order to support United Nations’ Sustainable Development Targets.”
Chairman Süleyman Sözen closed his remarks by saying that: “Garanti Bank will continue to play a leading role in the sector with its strong capital structure, highly qualified human resources and sound balance sheet management. Addressing the changing needs of our customers in the most effective and innovative way will continue to be our top priority. Taking this opportunity, I would like to thank my colleagues, our esteemed clients, shareholders, and all other stakeholders.”
on the consolidated financials, in the first half of 2018, Garanti’s asset size reached TL 384 billion 878 million, its contribution to the economy through cash and non-cash loans increased to TL 319 billion 244 million 923 thousand. The Bank delivered an ROAE (Return on Average Equity) of 18.1% and ROAA (Return on Average Assets) of 2.1%.
Commenting on the topic, Garanti Bank Chairman Süleyman Sözen stated that: “Garanti continued its uninterrupted contribution to the economy while preserving its solid capital base. I believe economy will come to an equilibrium with a moderate slowdown in the second half of 2018 and its sustainable growth will continue.”
Referring to the value creation for the society and the stakeholders via the synergy created with BBVA, largest shareholder of Garanti Bank, Sözen commented on BBVA Momentum Social Entrepreneurship Support Program and said: “This program was launched to support entrepreneurs who wish to carry their businesses one step further. It has attracted attention for being the first entrepreneurship program supported by a financial institution and for being specifically designed for social entrepreneurship in Turkey.” Sözen also underlined Garanti’s support to the future’s technologies and said that: “Garanti became the sponsor of the “1st Blockchain Workshop”, organized by the Central Bank and the Scientific and Technological Research Council of Turkey (TÜBİTAK) in Ankara, in April, with the aim of contributing to Turkey’s strategy on this area.”
Türkiye Garanti Bankası A.Ş., announced its financial statements dated March 31, 2018. Based on the consolidated financials, in the 3 months period of 2018, Garanti’s asset size reached TL 359 billion 882 million, its contribution to the economy through loans and non-cash lending reached to TL 298 billion 250 million 713 thousand. The Bank delivered an ROAE (Return on Average Equity) of 18.3% and ROAA (Return on Average Assets) of 2.2%.
Commenting on the topic, Garanti Bank Chairman Süleyman Sözen stated that: “In the global markets, fund flows to emerging economies continued. Turkey ended 2017 with 7.4% GDP growth and preserved its strong growth performance despite a moderate slowdown in the first quarter of 2018. Garanti also continued its uninterrupted contribution to the economy within this period.”
Emphasizing the Bank’s value creation for the society with its sustainable business model and its commitment to Corporate Governance Principles, Sözen added: “Garanti’s practices on gender equality which pioneers the society are acknowledged by the international authorities as well. Garanti once again became the only company from Turkey to be included in Bloomberg Gender Equality Index with its studies to ensure gender equality. Mentioning the successful financial performance announced by Garanti, Sözen added: “I absolutely believe that Garanti Bank, known as a pioneer in innovation, will increasingly maintain its value creation for the community and its stakeholders with the synergy created with BBVA.”
Today, trends are changing rapidly while bringing along new sets of challenges that need to be overcome. It is essential for us to be a fast adapter to succeed and differentiate in such a dynamic environment. We are proud of once again providing an even stronger support to the Turkish economy and the society, by means of this ability
2017 was a year of recovery in global macroeconomic indicators. Positive trends in the world’s growth and inflation outlook supported sentiment towards emerging market economies. Fund flows to emerging countries exceeded USD 200 billion. Turkey stood out with its strong GDP growth and attracted foreign fund flows, which resulted in 34% rise in MSCI Turkey Index.
Domestic agenda continued to be busy in Turkey with several developments on geop olitica l issues, wherea s developments in Europe and the USA caused disputes around those regions. However, 2017 turned out to be much better than we anticipated. Timely and effective stimulus measures taken by the government via supportive fiscal policies facilitated a quick recovery in the economy. The Turkish banking system demonstrated strong fundamentals and played a key role in the rebound of the country’s economy.
Every day we work to offer our 15 million customers an excellent customer experience at Garanti. We aim to be transparent, clear and responsible towards our customers. To exceed their expectations and enhance their satisfaction, we design our processes from their perspective by placing them at the center of our activities. We aim to establish long-lived relationships built on trust, which eventually differentiate and strengthen us.
Transformation and change move faster than ever. Advances in technology have been disrupting business models. Global mega trends are shaping the future and impacting our business. As the Bank of many best practices, we are well aware of the evolution that the banking is going through. Continuous improvements in technology have empowered Garanti to better address the needs of customers, yet, new challenges also came along. Garanti foresees the banking model of the future and swiftly acts upon it. In light of this, 2017 marked another milestone as we initiated an unprecedented transformation project in our branches. With this project, we developed a new service model that captures the benefits of the emerging digital world. Our aim is to enhance customer experience leveraging digital innovation, improve sales and operational ef ficiency, and create seamless, omni-channel experience to improve digital migration and reduce branch dependency and be a part of our customers’ daily life. By doing so, Garanti opens up a new era in banking.
We give the utmost attention to effective risk management through integrated management of financial and nonfinancial risks. Today, the major risks that the businesses are facing are not the same as yesterday. Future holds in store much more complex and intangible risks such as increasing population, diminishing resources and broadening wealth gap. To tackle these issues, governments and the business world must focus on positive impact and responsible investments. As Garanti, our leading role in sustainable banking allows us to set a good example for our peers and increase our multiplier effect in contributing to sustainable development.
The path to achieving all our goals goes through investing in our employees. At Garanti, we focus on our employees’ development, satisfaction and wellbeing. Our efforts in promoting equal opportunities and enabling professional development contribute to our high employee engagement score and low turnover. Going forward, as Industry 4.0, Artificial Intelligence and Big Databased analyses advance, most of the operational jobs will be automated and done through digital channels. We believe that digitalization is a great opportunity for us to allocate the workforce to more creative projects, which we expect to result in increased employee satisfaction and improved customer experience.
We are glad to have an increased synergy with our majority shareholder BBVA. Several successful projects to enhance the value added to the community and economy are being carried out with the strong partnership and cooperation of BBVA and Garanti. Going forward, we expect financial stability of our well established and solid economy to be permanent. Improving foreign demand on the back of ongoing economic recovery in the world and especially in Europe will be supportive for Turkish economy. As always, Garanti will continue to support our country’s development, while sustaining its strong performance and leading the sector in every aspect. Acting with the principles of trust, integrity, accountability and transparency towards all our stakeholders assures our sustainable performance.
SÜLEYMAN SÖZEN Chairman