BBVA in 2013

Main highlights

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The main highlights in 2013 refer to Garanti. The most relevant highlights are summarized below:

  • International investor confidence in Turkey and, therefore, in Garanti, as one of the leading financial institutions in the country, led the Turkish bank to complete its first Eurolira issuance in early March of long-term Turkish lira-denominated bonds. The issue placed a total of 750 million Turkish lira in 5-year bonds, basically in the United Kingdom and the United States. This international investor confidence was again clear with the renewal and extension, at a lower cost, in the fourth quarter of 2013 of the syndicated loan with 35 banks closed in 2012.
  • Following the launch in January of the new private pension system with direct government incentives, Garanti Pension became the market leader in terms of number of participants, with a 18.5% market share at the end of December 2013 (latest available figure). The subsidiary of the Garanti Group has made a notable effort to attract customers at a time when the sector is experiencing a boom period (240,000 new contracts in 2013).
  • In the area of corporate responsibility, Garanti’s policy has been focused on two issues: the role of women in the business world, and providing improved accessibility for the disabled. The bank has been part of the Turkish delegation that explained the progress made in the field of accessibility at one of the forums held during the recent United Nations General Assembly. In addition, Garanti has adapted over 100 ATMs and 30 branches to provide improved access for the disabled. In addition, Garanti was also the host bank for the 12th annual summit of the Global Banking Alliance for Women, where there were representatives from 30 financial institutions from 24 countries. These summits aim to develop programs that provide women entrepreneurs with training and access to markets. Its projects focused on education and support for women entrepreneurs include: The first class graduated at the Women Entrepreneur Executive School, where 264 women received classes in innovation and sustainable company management and more than 240 graduated. The Women Entrepreneur Executive School will be extended to new cities in 2014. Lastly, also in education, and in partnership with Unicef, conditions have been improved at four schools in Istanbul and Ankara to reach international primary education standards.
  • Under the awards and recognitions heading, the magazine Bloomberg Markets has put Garanti in the “Top 20” of its global list of the soundest banks. The ranking includes around 80 banks with assets valued at over USD 100 billion. It is the first time that a Turkish financial institution has appeared on this list. In addition, the magazine Global Finance named Garanti “Best Bank in Turkey” in its Best Global Banks 2013 rating, while the 2012 Annual Report (and its interactive version) of its Investor Relations team has received a prize at the ARC Awards. These awards are organized by MerComm, a U.S. organization that defines standards of excellence in the field of communication. In addition, Global Banking & Finance named Garanti “Best Internet Bank” and “Best Project Finance House” in Turkey in 2013. As for awards for specific products, Garanti’s subsidy search tool, which provides assistance and information to SMEs on subsidies available, received the “Best Customer Focus” prize at the British Best Business Awards. “Esparacard”, Garanti’s contactless payment card, was awarded the “Best use of contactless/NFC technology” prize in the “Transportation and Ticketing” category at the Contactless and Mobile Awards 2013 sponsored by VISA and held in London. Lastly, Garanti was awarded the Best Financial Institution Bond prize by EMEA Finance for the Eurobond issue completed at the end of 2012 (USD 1,350 million).
  • In the area of new technologies, Garanti has reinvented the concept of mobile banking through a new application for smartphones. “i-Garanti” integrates the social media into banking transactions made through mobile devices and gives users the opportunity to access important promotions. At the end of 2013, i-Garanti registered over 140,000 downloads.