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TURKIYE GARANTI BANKASI A.S. Announcement regarding forward looking statements on the expectations for the year 2020

Directive transparence : information réglementée

29/07/2020 17:12

Turkiye Garanti Bankasi A.S. (TGBD)
Announcement regarding forward looking statements on the expectations for the year 2020

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.

 

 

2020 GUIDANCE

REVISED 2020YE EXPECTATIONS

TL Loans (YoY)

High-teens

~25%

FC Loans (in US$, yoy)

Shrinkage

Shrinkage

NIM Incl. Swap Cost 

70-80bps
expansion

~50bps
expansion

Excl. CPI

High-single digit

High single digit shrinkage

Fee Growth (YoY)

Low-teens

<10%

OPEX Growth (YoY)

~ 6.5%

~6.5%

NPL ratio

~ 200bps

<300bps

Net Cost of Risk

High-teens

Low-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: investorrelations@garantibbva.com.tr
www.garantibbvainvestorrelations.com

 



ISIN: US9001487019
Category Code: MSCL
TIDM: TGBD
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 78848
EQS News ID: 1105475

 
End of Announcement EQS News Service

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