Garanti, identifies its stakeholders by using specific criteria, and also makes prioritization based on stakeholders’ ability to influence Garanti Bank and the level of Bank’s impact on them.
Dimensions used to identify stakeholders are:
- By dependency: stakeholders that are most dependent on Garanti e.g. customers who are dependent on Garanti’s products and services for their financial health and planning
- By influence: stakeholders who are, or in future may be, able to influence the ability of Garanti to meet its objectives
- By willingness to engage: is the individual stakeholder/stakeholder group willing to engage with Garanti on a certain sustainability issue
- By responsibility: stakeholders to whom Garanti has, or in the future may have, financial, operational or legal responsibilities
- By proximity: stakeholders that Garanti interacts with most, those Garanti depend on in day-to-day operations, those Garanti has longstanding relationships with etc.
- By representation: stakeholders that are through regulatory structures or culture/tradition entrusted to represent other individuals e.g. representatives of consumer organizations, trade union representatives
Stakeholders which are identified using the above-mentioned criteria are prioritized based on their ability to influence Garanti Bank and the level of the Bank’s impact on stakeholders.
Based on the outcome of this assessment, Garanti Bank has identified its main stakeholders, as its customers, employees, top management, shareholders, investors, suppliers and finance sector. Garanti Bank proactively monitors, empowers and cooperates with these stakeholders in order to make sure the impact on both Garanti Bank and its stakeholders is positive.