ISTANBUL – Türkiye Guaranteed Bank (IS:) AS (TGBD), also known as Garanti BBVA (BME:), reported a slight increase in its corporate governance compliance rating, according to an announcement to the investment community. The bank's compliance score, assessed by JCR Eurasia Rating, increased from 9.81 out of a possible 10 to 9.82.
The assessment, based on the corporate governance principles issued by the Capital Markets Board of Turkey (CMB), was carried out over a one-year period ending December 6, 2024. The rating outlook of the bank has also been adjusted to “Stable”. “
Guaranteed BBVA maintained its compliance levels from the previous year in the Shareholders, Public Disclosure and Transparency and Stakeholders categories. Notably, the score for the Board of Directors section increased from 9.81 to 9.85. This improvement is largely attributed to the appointment of Ms. Ebru Oğan Knottnerus to the board of directors, which enabled the bank to exceed the threshold of 25% women set by the CMB governance principles.
The bank's overall corporate governance score is calculated based on the weighted scores of four main sections. These sections, along with their respective weightings, contributed to the bank's overall score. Garanti BBVA's performance ensures its continued inclusion in the Borsa İstanbul Corporate Governance Index, as its score exceeds the threshold of “7”.
JCR Eurasia Rating's detailed corporate governance rating report is available on the Garanti BBVA Investor Relations website. The bank asserted that the information provided in the announcement is consistent with official documents and reflects accurate and complete information regarding its governance compliance.
This announcement is based on a press release and is intended to inform stakeholders of Garanti BBVA's corporate governance developments without promoting the company or its services.
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