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Turkiye Garanti Bankasi A.S. (TGBD)

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Wednesday 31 March, 2021

Turkiye Garanti Bankasi A.S.

Information regarding the results of Ordinary General Shareholders' Meeting

Turkiye Garanti Bankasi A.S. (TGBD)
Turkiye Garanti Bankasi A.S.: Information regarding the results of Ordinary General Shareholders' Meeting

31-March-2021 / 17:19 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


TO: Investment Community

FROM : Garanti BBVA / Investor Relations

SUBJECT: Information regarding the results of Ordinary General Shareholders' Meeting

 

 

DATE: March 31, 2021

 

 

The Ordinary General Shareholders' Meeting of the Bank for 2020 accounting period was held on Wednesday March 31th, 2021, at 10a.m. at the address of Levent, Nispetiye Mahallesi, Aytar Caddesi No:2 34340 Beşiktaş, İSTANBUL and it is resolved that;

  • The Board of Directors' Integrated Annual Activity Report be approved,
  • The Financial Statements for the year 2020 be approved,
  • The Board Members be released for their activities in the year 2020,
  • From the after-tax profit of the Bank for the year 2020 in the amount of TL 6.238.002.719,48 in accordance  with  Article 45 - of the Articles of Association of our Bank titled as the "Distribution of the Profit"; the cash gross dividend in the amount of TL 623.800.000,00 be distributed to our Shareholders, dividend distribution be initiated on April 5, 2021 and the Head Office be authorized to conduct any and all acts regarding the distribution of profit,
  • Since the terms of office of the Members of the Bank's Board of Directors have expired, the number of the Board of Directors be determined as eleven including the General Manager, Süleyman Sözen, Jorge Saenz-Azcunaga Carranza, Muammer Cüneyt Sezgin, Sait Ergun Özen,  Jaime Saenz De Tejada Pulido, Rafael Salinas Martınez De Lecea, Belkıs Sema Yurdum, Avni Aydın Düren and Pablo Alfonso Pastor Muñoz be elected for a period of three years and Mevhibe Canan Özsoy be elected for a period of three years as the independent board member in accordance with the Corporate Governance Principles of the Capital Markets Board, for whom the Capital Markets Board of Turkey did not express an adverse opinion regarding her independent board membership candidature,
  • KPMG Bağmsız Denetim ve Serbest Muhasebeci Mali Müavirlik A.Ş. (KPMG) be selected as the auditor of the Bank and the group for the year 2021 accounting period, in accordance with Article 399 of the Turkish Commercial Code,
  • The net honorarium amount and an upper limit to be paid to the Board members until the ordinary general shareholders' meeting to be held in 2022 be determined,
  • An upper limit for the charitable donations to be made in 2021 be determined in accordance with the Article 59 of the Banking Law No. 5411, as not to exceed four per thousand of equity of the Bank,
  • The Board Members be authorized in accordance with Articles 395 and 396 of the Turkish Commercial Code, without prejudice to the provisions of the Banking Law.

 

Moreover, the Independent Auditor's Report for the year 2020 is read and the Bank's shareholders were informed on;

 

  • The undistributed portion of the profit of the year 2020,
  • The natural board membership of Recep Baştuğ according to the Banking Law No.5411 which the Bank is subject to, who continues his duty as the CEO,
  • The external duties of the newly elected Board Members and the grounds of such duties, in accordance with Article 4.4.7. of the Capital Markets Board's Corporate Governance Principles, 
  • The remuneration principles of the Board Members and directors having administrative responsibilities, in accordance with Article 4.6.2 of the Capital Markets Board's Corporate Governance Principles,
  • The charitable donations made to institutions and organizations in the amount of 64.289.408,47 Turkish Liras in 2020 which is the sum of tax deductible donations in the amount of 49.846.810,91 Turkish Liras and tax non-deductible donations in the amount of 14.442.597,57 Turkish Liras,
  • The significant transactions executed in 2020 which may cause conflict of interest, in accordance with Article 1.3.6 of  the Capital Markets Board's Corporate Governance Principles.

The meeting minutes, list of participants and the profit distribution table are attached hereto. (The meeting minutes and the profit distribution table are in Turkish and English, whereas the list of participants is in Turkish.)

 

 

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

 

We declare that our above statements are in conformity with the principles included in the Board's Communiqué, Serial II Nr.15.1, 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.

 

Yours sincerely,

Garanti BBVA

Contact Garanti BBVA Investor Relations:

Tel: +90 212 318 2352

Fax: +90 212 216 5902
E-mail: [email protected]
www.garantibbvainvestorrelations.com

 


Attachment

File: Information regarding the results of Ordinary General Shareholders' Meeting


ISIN: US9001487019
Category Code: NOA
TIDM: TGBD
LEI Code: 5493002XSS7K7RHN1V37
Sequence No.: 96750
EQS News ID: 1180315

 
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