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2021-09-09

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$)

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