Garanti Bank

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Garanti Bankası A.Ş.
Type Corporation
Traded as BİST: GARAN
LSETGBD
OTCQXTKGBY
Industry Banking, Financial services
Founded 1946 (1946)
Headquarters Levent, Beşiktaş, Istanbul, Turkey
Number of locations 961 offices (March 2013)[1]
Area served Worldwide
Key people Ferit Şahenk
(Chairman)[2]
Ergun Özen
(President & CEO)[3]
Products Financial Services, credit cards, consumer banking, corporate banking, investment banking, mortgage loans, private banking, pension, life insurance, brokerage, leasing, factoring, asset management
Net income Increase US$ 1.9 billion (2012)[1]
Total assets Increase US$ 102.1 billion (2012)[1]
Total equity Increase US$ 12.3 billion (2012)[1]
Parent Doğuş Holding (%24,23)
BBVA (%25,01)[4]
Subsidiaries

GarantiBank International N.V.GarantiBank MoscowGarantiBank RomaniaGaranti Asset ManagementGaranti SecuritiesGaranti PensionGaranti LeasingGaranti Payment Systems Garanti Mortgage Garanti Technology

[5]
Website www.garanti.com.tr

Garanti Bank is the second largest private bank in Turkey with US$104.1 billion consolidated assets as of March 31, 2013.Having shares publicly traded in Turkey, the UK and the US, Garanti has an actual free float of 49.94% as of March 31, 2013; Garanti shares are publicly traded in Turkey and depository receipts in the UK and the US.

Garanti provides services in all business lines including payment systems, retail, commercial, corporate, SME, private and investment banking. Together with its domestic and international subsidiaries (Garanti Bank International, Garanti Bank SA, Garanti Bank Moscow), Garanti offers service also in pension and life insurance, leasing, factoring, brokerage and asset management.

Garanti serves twelve million customers through 936 domestic branches, 6 foreign branches in Cyprus, one in Luxembourg and one in Malta; 3 international representative offices in London, Düsseldorf and Shanghai; more than 3,550 ATMs; an award winning call center and Internet, mobile and social banking platforms built on cutting-edge technological infrastructure.

Milestones[edit]

1946

  • Founded in Ankara.

1983

  • Joined Doğuş Group, a conglomerate operating in finance, industrial and services sectors.

1990

  • Went public; its shares began trading on the ISE.

1993

  • First Turkish company to issue shares in international markets.

1995

  • First bank to work during lunch time
  • Introduced the first Cash Management Account in Turkey (E.L.M.A.).

1996

  • First private bank to launch "Business Owner Package" dedicated to support SMEs.
  • First bank in Turkey to establish a dedicated Cash Management Department.

1997

  • Became the first multi-branch private bank in Turkey to offer real-time online services.
  • The first Turkish bank to offer internet and telephone banking together.
  • Offered Turkey’s first Direct Debit System.

1999

  • The first bank to offer "Virtual P.O.S." system.
  • Launched Turkey's first e-trade website (eticaret.garanti.com.tr)
  • First bank in the world to issue trade payment rights securitization.

2000

  • Introduced Bonus Card, Turkey's first chip-based and multi-branded credit card.
  • Introduced Shop & Miles, Turkey's first credit card that earns miles while shopping

2001

  • Merged with Ottoman Bank, another banking subsidiary of Doğuş Group.

2002

  • Established Turkey's first interbank card platform with Bonus Card.

2003

  • Offered Turkey's first Online Direct Debit System.

2005

  • First bank in the world to offer SMS-based money transfer via CepBank.
  • First Turkish company to receive the Investors in People (IIP) achievement certificate for the quality of its human resources practices.
  • Turkey's first cardless bill payment and money deposit transactions through ATM.
  • General Electric and Doğuş Group became equal strategic partners in Garanti Bank.

2006

  • Introduced world's first flexible credit card, FlexiCard, enabling customization of all parameters including financial and visual.
  • Introduced Bonus Trink, the PayPass featured credit card with contactless chip technology.
  • Initiated Turkey's first bill payment service via P.O.S. machines.
  • Offered "5 minute loan" service whereby the applicant receives the evaluation in 5 minutes.
  • First bank in Turkey to create "paperless banking" operating environment and first bank in the world with ID scanning facilities in branches
  • The first Turkish private bank to offer "Woman Entrepreneurs Support Package".
  • The only bank in Turkey with exclusive rights to issue American Express Centurion Line Cards and to accept merchants to its network.

2007

  • Launched "Garanti Discount", Turkey's first web-based supplier financing system.
  • Launched Turkey's first Direct Debit System with risk sharing model.
  • Introduced Environmentally Friendly Bonus Card, a first in Turkey and Europe with its features as an ecologic product such as its plastic, communication materials and donation characteristics
  • First bank in Turkey to offer web-based transactions on TurkDex (The Turkish Derivatives Exchange) via online banking.

2008

  • Bought back founder share certificates, an important move toward improved corporate governance.
  • Launched Turkey's first Inventory Finance System.
  • Established Turkey's first mortgage call center, 444 EVIM.
  • Launched Loan via P.O.S., commercial installment loan offered through P.O.S. system, a first in the world and in Turkey.
  • Performed Turkey's first cardless remittance via ATMs, where both parties are non-bank customers and want to transfer money.
  • Founded the Teachers Academy Foundation (ÖRAV), with the aim of fostering consistent personal and professional development of teachers.

2009

  • Turkey's first bank to offer "e-government" payments.
  • Introduced Money Card, Turkey's first credit card which is multi-branded and also offers brand-specific loyalty benefits.
  • Launched Turkey's first last minute EFT service.
  • Offered Western Union transactions via Internet branch as a first in the world.
  • Developed Turkey's first Gold Financing System.
  • Launched DCC (Dynamic Currency Conversion) P.O.S. enabling foreign card holders to pay in their own currencies.
  • Started calculating its greenhouse gas emissions.

2010

  • Established the Sustainability Committee.
  • Submitted its greenhouse gas emissions and climate change strategy to the Carbon Disclosure Project (CDP).
  • Introduced another first in Turkey by performing Western Union transactions through ATMs as well as Internet Banking.
  • Launched the world's first NFC (Near Field Communication) payment enabled SIM card "Bonuslu Avea".

2011

  • Banco Bilbao Vizcaya Argentaria (BBVA) and Doğuş Group became equal strategic partners in Garanti Bank, through BBVA’s acquisition of *shares from GE Capital Corporation and Doğuş Holding A.Ş.
  • Sold its 20% shareholding in Eureko Insurance to Eureko B.V. by exercising its put option.
  • Joined UNEP FI (The United Nations Environment Programme Finance Initiative).
  • SALT was established to provide long-lasting support to culture and experimental thinking in Turkey
  • Entered the Carbon Disclosure Project (CDP) Global 500 Report 2011, a global reporting system on climate change.
  • Became the first private enterprise to issue the longest tenor Eurobond in Turkey.
  • Provided Turkey’s first TL-denominated long-term project finance facility.
  • Introduced Cep-T Paracard in collaboration with Turkcell and MasterCard, Turkey’s first prepaid card enabling SIM-based secure service *that can be used with mobile handset devices.

2012

  • Set up its Environmental Management System and Environmental Policy.
  • Signed up to the United Nations Global Compact.
  • Became the first bank in Turkey to become a member of the Turkish Business Council for Sustainable Development (TBCSD).
  • Introduced Garanti Link which offers special campaigns to social media users as a first in Turkey.
  • Introduced Net Account as a first in Turkey which offers a variety of returns based on income, saving capability and habits, and with regard to opening dates and regular payment amounts.
  • Established sector’s first Auto Loan Support Line; 444OTOM.
  • Became the first bank in Turkey to apply Call Steering, apprehending the request expressed by the customer and directing them to the related task point.
  • Launched world’s first banking application for Windows 8.
  • In partnership with Shell, introduced Shell Partner Card as a first in Turkey to combine cash and fuel management in a single card.
  • Introduced Turkey’s first contactless SME-specific credit card, Easy Card.
  • Introduced Takas Kart (Barter Card) that enables the automation of cash flow between dairy industries, milk cooperatives, and milk producers through merging the means of exchange with technology on a plastic card.
  • First Bank in the world to offer web-based solution to the working capital needs of car dealers for the purchase of second hand cars via Exchange Finance.

Shareholding Structure[edit]

Name Share %
DOGUS GROUP TOTAL 9.34
BBVA (BANCO BILBAO VIZCAYA ARGENTARIA S.A) 39.9
OTHERS 50.76
GRAND TOTAL 100.00

Board of Directors[edit]

Name and Surname Responsibility Appointment Date
Ferit Faik Sahenk Chairman 18.04.2001
Süleyman Sözen Vice Chairman 08.07.2003
Dr. Muammer Cüneyt Sezgin Member 30.06.2004
Dr. Ahmet Kamil Esirtgen Member 19.03.1992
Manuel Castro Aladro Member 22.03.2011
Manuel Pedro Galatas Sanchez Harguindey Member of BOD and Audit Committee 05.05.2011
Carlos Torres Vila Member 22.03.2011
Angel Cano Fernandez Member 22.03.2011
Belkıs Sema Yurdum Independent Board Member 30.04.2013
Sait Ergun Özen Member and CEO 14.05.2003

Senior Management[edit]

Name and Surname Responsibility Appointment Date
Sait Ergun Özen CEO 01.04.2000
Adnan Memiş EVP-Support Services 03.06.1991
Ali Fuat Erbil EVP-Financial Institutions & Corporate Banking 30.04.1999
Erhan Adalı EVP-Loans 03.08.2012
Gökhan Erün EVP-Treasury, Investment Banking, Human Resources & Training 01.09.2005
Faruk Nafiz Karadere EVP-SME Banking 01.05.1999
Halil Hüsnü Erel EVP-Technology, Operations Management & Central Marketing 16.06.1997
Recep Bastuğ EVP-Commercial Banking 01.01.2013
Turgay Gönensin EVP-Coordination of Subsidiaries 01.01.2013
Aydın Senel EVP-General Accounting & Financial Reporting 02.03.2006
Avni Aydın Düren EVP-Legal Services & Retail Risk Monitoring 01.02.2009
Betül Ebru Edin EVP-Project Finance 25.11.2009
Murat Mergin EVP- Strategic & Financial Planning 01.01.2002
Onur Genç EVP-Retail Banking 20.03.2012
Didem Baser EVP-Delivery Channels & Customer Satisfaction 20.03.2012
Aydın Şenel EVP- Purchasing & Tax Management 06.06.2013
İbrahim Aydınlı EVP- General Accounting & Financial Reporting 06.06.2013

Financial Subsidiaries[edit]

Garanti Bank International N.V.

Garanti Bank Moscow

Garanti Bank Romania

Garanti Asset Management

Garanti Securities

Garanti Pension

Garanti Leasing

Garanti Factoring

Garanti Payment Systems

Garanti Mortgage

Garanti Technology

Select Awards[edit]

  • The Best Bank in Turkey – Financial Times Group’s “The Banker” magazine, 2012
  • “A” rated Sustainability Report - Global Report Initiative (“GRI”), 2013
  • Investors in People (IIP) Gold category certification in the area of human resources (first and only Turkish institution), 2012
  • Best Trade Finance Bank in Turkey – Global Finance, 2012
  • Best Internet Bank in Turkey and Best Online Deposit, Credit and Investment Product Offerings and Best Integrated Consumer Bank Site in *Europe – Global Finance, 2012
  • 2012 Turkey- Carbon Performance Leadership – Carbon Disclosure Project (CDP, world’s largest environmental reporting programme specific to climate change), 2012
  • STP (Straight Through Processing) Excellence Award on its volume of EUR and USD transfers (for the ninth time) – Deutsche Bank, 2012

References[edit]

External links[edit]