Garanti lauded for its achievements in corporate governance

The Corporate Governance Association of Turkey (TKYD) gave Garanti its “Highest Corporate Governance Rating Score within the Board of Directors Category” prize, as the bank scored 9.66 out of a possible 10 in this area and 9.51 in the overall rating.

The award was presented to Garanti Bank’s Independent Board Member, Ms. Sema Yurdum, at TKYD’s XI annual Corporate Governance Summit.

Commenting on the prize, Garanti Bank CEO Fuat Erbil said: “ Garanti’s approach to corporate governance is an integral part of its culture, rather than a compliance requirement; and it is the assurance of Garanti’s longevity. We are pleased about the great performance, in compliance with corporate governance principles. Garanti’s corporate culture, its irreplaceable values of trust, integrity, accountability and transparency, its commitment and responsibility to all its stakeholders, all shape our robust governance structure. Being aware that our impact and the value we create is not limited to banking, we will continue working to constantly create value, with our focus on sustainable development.”

Garanti was evaluated by the JCR Eurasia Rating agency in four categories of compliance with the CMB’s Corporate Governance Principles: Shareholders, Public Disclosures and Transparency, Stakeholders and Board of Directors. Garanti’s score of 9.66 in the latter category recognized the great effectiveness of its internal audit function, its thorough and effective risk management system, and the high level of its board members’ knowledge and expertise.