Announcement regarding forward looking statements on the expectations for the year 2020
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
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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
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