Garanti BBVA

Garanti BBVA, one of Türkiye’s leading banks with its investments in technology, has once again earned Tier IV Certification of Operational Sustainability – Gold TCOS from Uptime Institute, the highest certification for data center infrastructure worldwide. With this achievement, Garanti BBVA’s data center is now one of only 24 in the world to boast this accolade.

The BBVA Foundation is once again sponsoring the Salt Artistic Research and Production Grant Program, now in its 2025 edition. This initiative aims to create a dynamic platform for artistic research and production, supporting artists from Türkiye who explore contemporary social issues through interdisciplinary approaches.

Garanti BBVA recently held a ‘Demo Day’ event in celebration of the five startups that completed the 2nd year of its Garanti BBVA Partners Tech Program.The program aims to support newly founded tech startups with the potential to attract investment and grow.

Garanti BBVA continues to lead the way when it comes to digital transformation, adding value for its customers while steering the industry with its innovative solutions. In 2024, the bank’s mobile banking app, Garanti BBVA Mobil, reached over 16.5 million active users, making it one of Türkiye’s most popular banking apps.

Garanti BBVA announced its financial results as of December 31, 2024. Net income totaled TL 92.18 billion while assets stood at TL 3 trillion. The bank also contributed TL 2 trillion to the economy through cash and non-cash loans. Customer deposits funded 70 percent of assets, with a total customer deposit base of TL 2.10 trillion (up 30.8 percent in 2024). Garanti BBVA also reported a capital adequacy ratio of 18.2 percent,*  Return on Average Equity (ROAE) of 32.5 percent and Return on Average Assets (ROAA) of 3.5 percent.

*Does not include the forbearance introduced by BRSA

Garanti BBVA Crypto, a subsidiary of Garanti BBVA, recently entered a partnership with Bitstamp, the world’s longest-operating crypto exchange platform and core liquidity provider. The aim of this partnership is to allow customers to trade in multiple currencies. In addition, investors in both crypto currencies and traditional financial markets can trade a series of approved digital assets, thus helping to boost crypto access and adoption in Türkiye.

BBVA’s Turkish franchise secured its highest-ever score of 85 in the 2024 S&P Global Corporate Sustainability Assessment (CSA), leading Türkiye’s banking sector once again. The bank also ranked 15th globally among 668 financial institutions assessed, further cementing its position as a leader in sustainability. S&P Global-CSA is one of the most respected platforms for evaluating corporate sustainability, providing a benchmark for international investors. The assessment covers areas such as business ethics, governance, risk management, climate action, transparency, and human rights.

Garanti BBVA recently revamped ‘Garanti BBVA Mobile’, making it faster and easier for investors to monitor and manage their investment portfolios directly on the app. The new menu for investments allows customers to view their portfolio distribution, check the status and research investment options that match their investment goals - all on a single screen. Furthermore, Garanti BBVA Mobile also offers educational content designed to improve customers’ investment knowledge in its Investment Academy.

For the first time this year, Garanti BBVA has secured a syndicated loan aligned with the Sustainable Debt Financing Framework. The loan is part of the bank’s international borrowing program and has a maturity of 367 days. The loan consists of two tranches, $244 million, and €162.4 million, with 43 banks participating. The loan was fully renewed, with costs set at SOFR + 1.75 percent, and Euribor +1.5 percent, respectively.

Garanti BBVA, in collaboration with the Turkish Business Confederation (TÜRKONFED), has launched an innovative initiative to empower SMEs in Türkiye through the ‘New Horizons in Twin Transformation’ project. This forward-thinking program aims to prepare SMEs for global trends in green and digital transformation, setting them up for long-term success in an increasingly dynamic and competitive world.

Garanti BBVA has successfully completed a new Basel III-compliant Tier 2 bond issuance, demonstrating the bank’s strong position in international markets. This marks its second Tier 2 bond this year. The bond was issued with a 10-year maturity, a five-year call option, and a total value of $750 million. Garanti BBVA also extended a tender offer to its investors for the $750 million nominal value of the Tier 2 bond it issued in 2017, with a 2027 maturity.

Garanti BBVA has released its financial statements for January through September 2024, reporting net income of TL 66.95 billion, and total assets of TL 2.88 trillion. The bank provided TL 2.17 trillion in loans, with loans in TL surpassing TL1 trillion.  Customer deposits continued to be the main source of funding, accounting for 70 percent of the bank’s assets. The total customer deposit base reached TL 2.02 trillion, representing 25.9 percent growth in the first nine months of the year. The bank’s capital adequacy ratio stood at 15.8 percent.* Its return on average equity (ROAE) was 32.9 percent and return on average assets (ROAA) was 3.5 percent.

*Calculation does not include forbearance introduced by BRSA

Garanti BBVA recently hosted Istanbul Venture Day to bolster the startup ecosystem and contribute to innovation in the fintech sector. The event was organized in collaboration with Fintech Istanbul and IE University of Madrid as part of its Venture Day series, with the participation of the Spanish and Italian consulates. Fintech startups had the opportunity to meet with Italian and Spanish investors, and learn about the markets and investment opportunities in these countries.

Cover photo: From left to right Garanti BBVA EVP, Ceren Acer Kezik, Zuzzuu Co-Founder & CEO, Ahmet Sukuroglu and IE University Chairman, Center for Entrepreneurship & Innovation, Juan José Güemes.

Garanti BBVA Kripto aims to provide the highest standards in terms of performance, security, and customer trust  for digital assets. It does so by establishing strategic partnerships with Ripple for the services provided by  its subsidiary; and with IBM for secure custody solutions for its crypto asset trading platform, which serves more than 14,000 users.

Garanti BBVA welcomed the second century of the Turkish Republic with a sculpture by Metin Yurdanur, a renowned Turkish artist. Located at the bank’s headquarters in Zincirlikuyu, Istanbul, the ‘Republic Monument’ represents the ideals introduced by Atatürk enduring throughout the second century. Atatürk's light is carried into the future by the Turkish youth, with waves symbolizing the dynamic and enthusiastic values of the Republic. Standing at 6 meters tall with a 1.5-meter concrete base, the piece is crafted in cast bronze and stainless steel, and was designed exclusively for BBVA’s Turkish franchise.

The Garanti BBVA-sponsored fire prevention partnership dubbed ‘Türkiye's Life: Fire Management Grant Program’ and headed by WWF Türkiye has successfully completed three new projects. One initiative, managed by Natura, focused on protecting caracal populations; another developed an eco-kit to leverage local knowledge and practices for preventing and fighting forest fires in the Köyceğiz-Gökova area; while the third project implemented fire-resilient production models.

Koray Öztopçu, Head of Consumer Finance at Garanti BBVA, recently penned an Op-Ed piece on artificial intelligence (AI), new generations and consumer finance. In his article, he claims that Generations Y and Z account for a growing slice of the consumer pie, thus requiring brands to pursue creative strategies on various fronts, from the relationship they build with consumers to the values they embrace. They must also keep up with new technologies if they hope to offer creative digital financing options. Notably, a technological tidal wave is triggering transformation in many sectors and processes, from production all the way through to consumption.

Garanti BBVA has fully digitized its vehicle loan process, allowing individuals—following companies and self-employed customers—to obtain digital loans for nearly 40 automobile brands. Loan applications and onboarding can be completed on a smartphone without the need for any printed documents. BBVA’s Turkish franchise is the first and only bank in the country to offer this innovative service.

Garanti BBVA continues to add new cryptocurrencies to its mobile app. The bank is now  providing service for XRP, the crypto asset with the fifth largest market, and Arbitrum (ARB), a crypto asset that can be transferred on the ERC-20 network. They join Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Avalanche (AVAX) and Chiliz (CHZ).

Garanti BBVA, Türkiye’s leading digital bank, is all set to stage ‘Istanbul Venture Day’ to support the startup ecosystem and help ramp up innovative fintech solutions. The event will be held at the Salt Galata center on October 24 and is being organized alongside IE University in Spain, with the close support of the Spanish and Italian consulates. It is essentially the Istanbul leg of the ‘Venture Day’ series being held by IE University ahead of the wider Global South Summit.

The Global Startup Awards (GSA), one of the most prestigious events for independent startups, will be held in Türkiye for the first time on September 24-25. With Garanti BBVA as the lead sponsor, GSA aims to recognize innovative startups in the Turkish entrepreneurship ecosystem, while bringing together a large community of entrepreneurs, investors, VCs, thought leaders, industry benchmarks, ecosystem partners, and other key stakeholders.

Garanti BBVA won the "Best Contact Center with More than 1,000 Employees" award in Europe, the Middle East, and Asia at the Global Top Ranking Performance Awards. The accolades, organized by Contact Center World, a leading authority in the contact center industry, drew over 2,000 entries from 80 countries. This year marked the 19th edition of the event.

Mahmut Akten, currently the Head of Corporate, Investment Banking and Global Markets at Garanti BBVA, will become CEO of the bank and Country Manager of BBVA in Turkey, replacing Recep Baştuğ, who is stepping down following an extensive career of more than three decades with the organization. The appointment will be effective following the completion of the regulatory approvals.

Garanti BBVA has once again been named the ‘Best Cash Management Bank in Türkiye’ at the 2024 Best Treasury & Cash Management Banks 2024 Awards organized by Global Finance, one of the world’s leading financial magazines.

Garanti BBVA’s crypto app provides a secure and user-friendly crypto wallet and trading experience, while adding new tokens to its asset portfolio every day. The app currently offers support for Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC) and Avalanche (AVAX), and now users will be able to transfer and store their Chiliz (CHZ) over the Ethereum network.

Seray İmer, Head of Sustainability at Garanti BBVA, recently took part in a ‘Sustainable Future’ show on Bloomberg HT TV, where she outlined Garanti BBVA’s key commitments and targets for a less polluted world.

Garanti BBVA received 10 different awards at the EMEA Finance Achievement and Project Finance Awards. EMEA Finance is one of the leading financial publications in Europe, the Middle East and Africa.

Garanti BBVA announced the renewal of its sustainable syndicated loan. The bank plans to use the loan to finance foreign trade, for general corporate purposes, and to further its commitment to finance investments that support the transition to a low carbon economy.   Indexed to sustainable criteria, Garanti BBVA was the first bank in the world to launch a syndicated sustainable loan in 2020.

Garanti BBVA now offers end-to-end online loans for 40 automotive brands. In July 2023, the bank became the first to offer this service, starting with two brands. The loans for zero-kilometer vehicles are available for the bank’s corporate clients, small businesses and self-employed on the Garanti BBVA Mobile app and website.

Garanti BBVA continues to enhance its offerings, simplifying life for customers by integrating vehicle-related products and services into a single platform with the "My Vehicle" feature on Garanti BBVA Mobile, the most widely used banking app in Türkiye. Customers can add their license plate information to Garanti BBVA Mobile to track all transactions, expenditures, and campaigns related to their vehicles in one place.