Turkiye Garanti Bankasi A.S. (TGBD)
29-Jul-2020 / 16:12 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 statements on the expectations for the year 2020
DATE: July 29, 2020
Reference: Public disclosure of Türkiye Garanti Bankası A.Ş. (Garanti) on 08.01.2020.
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 it's forward looking statements regarding the expectations for the year 2020. You may access the related presentation that was published on the Public Disclosure Platform, the Bank's website and Garanti BBVA Investor Relations' website at www.garantibbvainvestorrelations.com in Operating Plan Guidance Presentations section.
Within the framework of the changes in the operating environment due to the Covid-19 outbreak, the following revisions were made in 2020 Operating Plan Guidance.
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2020 GUIDANCE
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REVISED 2020YE EXPECTATIONS
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TL Loans (YoY)
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High-teens
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~25%
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FC Loans (in US$, yoy)
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Shrinkage
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Shrinkage
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NIM Incl. Swap Cost
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70-80bps
expansion
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~50bps
expansion
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Excl. CPI
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High-single digit
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High single digit shrinkage
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Fee Growth (YoY)
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Low-teens
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<10%
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OPEX Growth (YoY)
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~ 6.5%
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~6.5%
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NPL ratio
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~ 200bps
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<300bps
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Net Cost of Risk
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High-teens
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Low-teens
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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
