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Turkiye Garanti Bankasi A.S. (TGBD)

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Thursday 09 September, 2021

Turkiye Garanti Bankasi A.S.

Announcement regarding forward looking expectations

Turkiye Garanti Bankasi A.S. (TGBD)
Turkiye Garanti Bankasi A.S.: Announcement regarding forward looking expectations

09-Sep-2021 / 16:50 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


TO: Investment Community

FROM : Garanti BBVA / Investor Relations

SUBJECT: Announcement regarding forward looking expectations

 

DATE September 9, 2021

 

As per the Article 10 of the "Communiqué on Material Events Disclosure" (II-15.1) of Capital Markets Board, T. Garanti Bankası A.Ş has announced its forward looking statements regarding the expectations for the year 2021. You may access the related presentation that was published on the Public Disclosure Platform, the Bank's website and Garanti Bank Investor Relations' website at www.garantibbvainvestorrelations.com in Operating Plan Guidance section.

 

With changing macroeconomic expectations as of September 2021, the following revisions were made in 2021 Operating Plan Guidance.

 

Accordingly,  the return on equity has been revised upwards.

 

Higher economic activity has a positive impact on loan growth, commission income and asset quality, which enabled the Bank to revise up its profitability forecasts.

 

 

2021 Operating Plan

Revised 2021 Operating Plan

Macroeconomic Expectations

 

 

GDP Growth

5%

9%

CBRT Funding Cost (year-end)

14%

18%

Inflation (year-end)

10.5%

17%

 

 

 

Garanti BBVA Operating Plan

 

 

TL Loans (YoY)

Mid-teens

>20%

FC Loans (YoY, in US$)

Shrinkage

Shrinkage

NPL Ratio

<6%

<4.5%

Net Cost of Risk
(excluding currency impact)

<200bps

<150bps

NIM incl. swap cost

~100bps contraction

~100bps contraction

Net F&C growth (YoY)

Mid-teens

~30%

OPEX growth (YoY)

~CPI

~CPI

ROAE

Mid-teens

Mid-to-High teens

 

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: [email protected]
www.garantibbvainvestorrelations.com

 



ISIN: US9001487019
Category Code: MSCL
TIDM: TGBD
LEI Code: 5493002XSS7K7RHN1V37
Sequence No.: 121886
EQS News ID: 1232494

 
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