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ISTANBUL - Turkiye Garanti Bankasi (IS:GARAN) A.S. (TGBD), also known as Garanti BBVA (BME:BBVA), has reported a marginal increase in its Corporate Governance Compliance Rating, according to an announcement made to the investment community. The bank's compliance score, evaluated by JCR Eurasia Rating, has risen to 9.82 from 9.81 out of a possible 10.
The assessment, which is based on the Corporate Governance Principles issued by the Capital Markets Board of Turkey (CMB), was conducted over a one-year period ending on December 06, 2024. The bank's rating outlook has also been adjusted to "Stable."
Garanti BBVA has maintained its previous year's compliance levels in the categories of Shareholders, Public Disclosure & Transparency, and Stakeholders. 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, which resulted in the bank surpassing the 25% female membership threshold set by the CMB's governance principles.
The bank's overall Corporate Governance Rating is calculated based on weighted scores from four main sections. These sections, along with their respective weights, have contributed to the bank's aggregate score. Garanti BBVA's performance ensures its continued inclusion in the Borsa İstanbul Corporate Governance Index, as its score exceeds the threshold of "7".
The detailed Corporate Governance Rating Report by JCR Eurasia Rating is available on Garanti BBVA's Investor Relations website. The bank has affirmed that the information provided in the announcement is consistent with official records and reflects accurate and complete information regarding its governance compliance.
This announcement is based on a press release statement and is intended to inform stakeholders of Garanti BBVA's corporate governance developments without promoting the company or its services.
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