Garanti News Feed

Announcement Regarding Tax/Penalty Notification

2013-05-20 00:00:00

The Istanbul Large-Scale Taxpayers Office of the Tax Inspection Board held inspections regarding the purchase and cancellation process of the founder share-certificates by our Bank in 2008 through the fund obtained following the capital increase, in terms of income and corporate tax withholding. As a result of such inspections, authorities claimed that the payments which have been made to the holders of the founder share-certificates should have been deemed as dividend payments and the Bank has undercalculated the income and corporate tax of such payments. Accordingly, a Tax Audit Report and a tax/penalty notification in the total amount of TL 211,510,761.15 (Actual tax: TL 84,604,304.46 and Fine: TL 126,906,456.69), have been prepared by the authorities.

In our Bank’s assessment, the Bank’s practice is in compliance with the relevant legislation and our Bank will take legal actions against the tax authority’s assessments. The investor community will be further informed regarding the developments on the issue, if any, in accordance with the applicable legislation.

Announcement regarding the issuance of Garanti bank bonds

2013-05-16 00:00:00

The circular regarding the public offering of the Garanti Bank bonds in the total nominal amount of TL 750 The circular regarding the public offering of the Garanti Bank bonds in the total nominal amount of TL 750 million, which was approved by the Capital Markets Board on May 09, 2013, was published at the Public Disclosure platform.

The ISIN Code, compound yield, simple yield and issue price of T. Garanti Bankası A.Ş. bonds with a maturity of 91 days and a maturity date of August 15, 2013, are determined as follows:

- ISIN code TRQGRAN81312;

- Compound Yield: 4.60852%;

- Simple Yield: 4.53088%;

- Issue Price: 98.883

The ISIN Code, compound yield, simple yield and issue price of T. Garanti Bankası A.Ş. bonds with a maturity of 133 days and a maturity date of September 26, 2013, are determined as follows:- ISIN code TRQGRAN91329;

- Compound Yield: 4.76826%;

- Simple Yield: 4.69782%;

- Issue Price: 98.317

The ISIN Code, compound yield, simple yield and issue price of T. Garanti Bankası A.Ş. discounted bonds with a maturity of 369 days and a maturity date of May 20, 2014, are determined as follows:

- ISIN code TRSGRAN51410;

- Compound Yield: 5.57069%;

- Simple Yield: 5.57236%;

- Issue Price: 94.667

The results of the public offering of the bank bonds

2013-05-16 00:00:00

In accordance with the circular approval of Capital Markets Board of Turkey dated May 09, 2013, T. Garanti Bankası A.Ş. has been authorized to issue bank bonds in the aggregate nominal amount of TL 750 million; consisting of bank bonds in the nominal amount of TL 450 million with a maturity of 91 days, bank bonds in the nominal amount of TL 150 million with a maturity of 133 days and discounted bank bonds in the nominal amount of TL 150 million with a maturity of 369 days, and to increase the amount of public offering from the nominal amount of TL 750 million to the nominal amount of TL 900 million in case of excess demand.

On May 15, 2013, the issue price of the Bank Bond with a maturity of 91 days was determined as TL 98,883, at a simple yield of 4.53088% and a compound yield of 4.60852%, the issue price of the Bank Bond with a maturity of 133 days was determined as TL 98,317, at a simple yield of 4.69782% and a compound yield of 4.76826%, and the issue price of the discounted Bank Bond with a maturity of 369 days was determined as TL 94,667, at a simple yield of 5.57236% and a compound yield of 5.57069%.

As a result of book building dated May 13-14-15, the total demand from the investors for the bank bonds and discounted bank bonds in the total nominal amount of TL 750 million was in the nominal amount of TL 786,963,515. The amount of total issuance is increased to 786,963,515TL.

The issuance and allocation amounts of the bank bonds regarding the public offering and the number of investors who gained the right to buy bank bonds and discounted bonds are presented in the attached table.

We declare that our above statements are in conformity with the principles included in the Board’s Communiqué, Serial VIII Nr. 54., 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.

Announcement regarding bank bond issuance

2013-05-13 00:00:00

Our Bank’s 1st coupon payment relating to the fixed rate bond with a maturity of 728 days, ISIN code of TRSGRAN21512 and a maturity date of February 09, 2015 has been made on May 13, 2013.

Announcement regarding the Offering Circular

2013-05-10 00:00:00

It was announced on May 09, 2013 that as a result of our application to the Capital Markets Board pursuant to our Board of Directors’ resolution dated February 14, 2013, the registration of our bank bonds and/or debentures in the total nominal amount of TL 6,700,000,000 was published in the Capital Markets Board’s weekly bulletin numbered 2013/15.

In this regard, our application to the Capital Markets Board for the issuance of two bank bonds in the nominal amount of TL 450 million with a maturity of 91 days; in the nominal amount of TL 150 million with a maturity of 133 days and discounted bank bond with a maturity of 369 days was registered by the Capital Markets Board on May 08, 2013.

In case of excess demand, the issuance of bank bonds in the aggregate nominal amount of TL 750 million will be increased to the nominal amount of TL 900 million.

Book building of Garanti Bank bonds will take place on May 13-14-15, 2013.

Announcement regarding the redemption of Garanti bank bonds

2013-05-10 00:00:00

Garanti Bank bonds in the total nominal amount of TL 299,518,667 with a maturity of 179 days, ISIN code of TRQGRAN51315 and the book building date of November 7-8-9, 2012, which were offered to public on November 12, 2012 in accordance with the approval of Capital Markets Board of Turkey dated November 5, 2012 and numbered B.02.6.SPK.0.13.00-105.04.02-2450-10606 and Board Registration Certificate numbered 69/BB-1187, have been matured as of today (May 10, 2013) and were redeemed.

Announcement regarding the redemption of Garanti bank bonds

2013-05-10 00:00:00

Garanti Bank bonds in the total nominal amount of TL 435,052,648 with a maturity of 88 days, ISIN code of TRQGRAN51323 and the book building date of February 6-7-8, 2013, which were offered to public on February 11, 2013 in accordance with the approval of the prospectus (as amended) and the offering circular by Capital Markets Board of Turkey dated January 25, have been matured as of today (May 10, 2013) and were redeemed.

Announcement regarding the issuance of Garanti Bank Bond

2013-05-09 00:00:00

As a result of our application to the Capital Markets Board pursuant to our Board of Directors’ resolution dated February 14, 2013, the registration of our bank bonds and/or debentures in the total nominal amount of TL 6,700,000,000 was published in the Capital Markets Board’s weekly bulletin numbered 2013/15.

Book building of Garanti Bank bonds will take place on May 13-14-15, 2013.

Garanti signed EUR 1.1 billion dual tranche syndicated loan

2013-05-02 00:00:00

Our Bank has signed a syndicated loan agreement in the amount of EUR 1,1 billion with1 year maturity, comprising two separate tranches in the amount of € 768.250.000 and US$ 431.287.500 on 2nd May, 2013. The loan which will be used for trade finance purposes has been executed with commitments received from 47 banks from 20 countries. The all-in cost has been realized as Euribor+1.00% and Libor+1.00% respectively.

Ordinary Shareholders’ Meeting Conclusions

2013-04-30 00:00:00

The Ordinary General Meeting of Shareholders of T. Garanti Bankasi A.S. relating to 2012 Financial Year was held on Tuesday April 30, 2013 at 10.00 a.m. at Levent, Nispetiye Mahallesi, Aytar Caddesi No:2, Besiktas – Istanbul.

Resolutions and profit distribution statement of T. Garanti Bankasi A.Ş. for the year 2012 are attached.

About Mandate Letter Syndicated Loan

2013-04-29 00:00:00

Our bank has signed a mandate letter in order to authorize 24 banks as mandated lead arrangers for the grant of a dual tranche syndicated term loan with a maturity of one year.

Announcement regarding the establishment of Global Medium Term Notes (GMTN) program

2013-04-19 00:00:00

It was announced that, on its meeting held on January 10, 2013, the Board of Directors has authorized the Head Office to take the necessary actions, subject to market conditions, to arrange and sign the agreements and all other documents related to the bond or other borrowing instruments issuance transactions up to US$3,000,000,000 in total or equivalent in TL or in any other foreign currency, with different series and maturities and fixed and/or floating interest rates to be determined at the time of issuance in accordance with market conditions, to be sold outside Turkey in one or more issuances, including the selling and registration of the bond or other borrowing instruments to foreign stock exchanges. The application process related to the transaction has been initiated with the Capital Markets Board and other competent authorities; and it was announced in the weekly bulletin of the Capital Markets Board (“CMB”) numbered 2013/6 that the above-mentioned application has been approved by the CMB.

In this regard, as of April 19th, 2013; GMTN (Global Medium Term Notes) program in the amount of US$2,500,000,000 has been established in order to arrange bonds or other borrowing instruments issuance transactions in any currency with different series and maturities.

Announcement regarding the approval of the amendments to the Articles of Association by BRSA, CMB and the Ministry of Customs and Trade

2013-04-16 00:00:00

The Board of Directors of the Bank resolved on March 07, 2013 that the Articles 1, 2, 3, 4, 5, 6, 7, 8, 11, 12, 13, 14, 17, 18, 20, 21, 22, 23, 24, 25, 26, 27, 28, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 45, 46, 47, 48, 49 and Provisional Article 2 of the Bank’s Articles of Association be amended in accordance with the draft amendment and the Head Office be authorized to execute any and all operations related thereto before the relevant official authorities.
In this context, the amendments to the Bank’s Articles of Association are approved by the Banking Regulation and Supervision Agency, the Capital Markets Board and the Ministry of Customs and Trade.
Pursuant to the Capital Markets Board regulations, new and current texts of the relevant articles of the Bank’s Articles of Association and the biography of the Independent Board Member candidate were updated in our Bank’s Information Document for the Ordinary General Shareholders’ Meeting, which includes information, documents and reports regarding the agenda items of the Ordinary General Shareholders’ Meeting and which was disclosed to the shareholders on our Bank’s website on April 08, 2013. The updated Information Document is disclosed to the shareholders on our Bank’s website.

Announcement Regarding the Assessments Related to Tax Inspection

2013-04-12 00:00:00

With regards to our public disclosure dated January 11, 2013 regarding the tax/penalty notices for the years 2007, 2008, 2009 and 2010, in accordance with the conciliation provisions of the Tax Procedure Law, our Bank has reached an agreement to pay the fined tax assessment in the amount of TL 13.215.080 following the negotiations with Large Taxpayers Office Commission of Conciliation and legal process for this issue has been finalized.

Announcement regarding the agreement between our Bank and Fibabanka

2013-04-09 00:00:00

Our Bank and Fibabanka A.Ş. have signed an agreement in order for Fibabanka to benefit from Bonus Credit Card Program, which is created and operated by our Bank, and to issue Bonus Credit Cards. Within the context of such agreement, Fibabanka will be able to issue Bonus Credit Cards by using the name “Bonus” together with its own name and logo, and market it to its customers.

İpotek Teminatlı Menkul Kıymet (covered bond) İhracı hk.

2013-04-05 00:00:00

4 Nisan 2013 tarihinde Bankamız Yönetim Kurulu tarafından muhtemel bir ipotek teminatlı menkul kıymet (covered bond) ihracı ile ilgili fizibilite çalışmalarının yapılması, bu konuda gerekli olacak danışmanlık ve destek hizmetlerinin temin edilmesi amacıyla yetkilendirmelerin yapılması ve Sermaye Piyasası Kurulu ve diğer yetkili merciler nezdinde başvuruların yapılarak gerekli izinlerin alınması, bu hususta düzenlenecek her türlü mektup, talep, başvuru, görüş alma, bilgilendirme ve sair evrakı tanzim ve teslimi amacıyla T. Garanti Bankası A.Ş. Genel Müdürlüğü'ne yetki verilmiştir.

Announcement Regarding the Issuance of Covered Bond

2013-04-05 00:00:00

T. Garanti Bankası A.Ş. Board of Directors has authorized the Head Offices to take the necessary actions, with regard to a potential covered bond issuance, to do feasibility studies regarding such potential issuance and give necessary authorizations in order to receive consultancy and support services in this matter and to apply to Capital Markets Board and any relevant authorities in order to obtain necessary permissions for the potential issuance and to sign and deliver all letters, requests, applications, request letters for opinion, disclosures and other miscellaneous documents related thereto on behalf of the Bank.

The redemption of Garanti Bank bond

2013-04-01 00:00:00

Garanti Bank bonds in the total nominal amount of TL 433,982,151 with a maturity of 77 days, ISIN code of TRQGRAN41324 and the book building date of January 9-10-11, 2013, which were offered to public on January 14, 2013 in accordance with the approval of Capital Markets Board of Turkey dated December 21, 2012 and numbered B.02.6.SPK.0.13.00-105.04.02-2753-12065 and Board Registration Certificate numbered 86/BB-1187, have been matured as of today (April 01, 2013) and were redeemed.

The results of the public offering of the bank bonds

2013-04-01 00:00:00

In accordance with the circular approval of Capital Markets Board of Turkey dated March 21, 2013, T. Garanti Bankası A.Ş. has been authorized to issue bank bonds in the aggregate nominal amount of TL 750 million; consisting of bank bonds in the nominal amount of TL 450 million with a maturity of 102 days, bank bonds in the nominal amount of TL 150 million with a maturity of 178 days and discounted bank bonds in the nominal amount of TL 150 million with a maturity of 368 days, and to increase the amount of public offering from the nominal amount of TL 750 million to the nominal amount of TL 1 billion in case of excess demand.

On March 29, 2013, the issue price of the Bank Bond with a maturity of 102 days was determined as TL 98.223, at a simple yield of 6.47391% and a compound yield of 6.62635%, the issue price of the Bank Bond with a maturity of 178 days was determined as TL 96.839, at a simple yield of 6.69340% and a compound yield of 6.80823%, and the issue price of the discounted Bank Bond with a maturity of 368 days was determined as TL 93.359, at a simple yield of 7.05541% and a compound yield of 7.05341%.

As a result of book building dated March 27-28-29, the total demand from the investors for the bank bonds and discounted bank bonds in the total nominal amount of TL 750 million was in the nominal amount of TL 831,276,423. The amount of total issuance is increased to 831,276,423 TL.

Regarding the issuance of Garanti bank bonds

2013-04-01 00:00:00

The circular regarding the public offering of the Garanti Bank bonds in the total nominal amount of TL 750 million, which was approved by the Capital Markets Board on March 21, 2013, was published at the Public Disclosure platform.

The ISIN Code, compound yield, simple yield and issue price of T. Garanti Bankası A.Ş. bonds with a maturity of 102 days and a maturity date of July 12, 2013, are determined as follows:

- ISIN code TRQGRAN71321 ;

- Compound Yield: 6.62635% ;

- Simple Yield: 6.47391% ;

- Issue Price: 98,223

The ISIN Code, compound yield, simple yield and issue price of T. Garanti Bankası A.Ş. bonds with a maturity of 178 days and a maturity date of September 26, 2013, are determined as follows:

- ISIN code TRQGRAN91311 ;

- Compound Yield: 6.80823% ;

- Simple Yield: 6.69340% ;

- Issue Price: 96,839

The ISIN Code, compound yield, simple yield and issue price of T. Garanti Bankası A.Ş. discounted bonds with a maturity of 368 days and a maturity date of April 04, 2014, are determined as follows:

- ISIN code TRSGRAN41411 ;

- Compound Yield: 7.05341% ;

- Simple Yield: 7.05541% ;

- Issue Price: 93,359