Garanti BBVA

Garanti BBVA

What Garanti BBVA says about its journey towards integrated reporting

To meet the challenges of the 21st century and respond to stakeholders’ expectations for greater accountability and better corporate reporting, that addresses both financial and not yet financial information material to businesses, Garanti BBVA adopted integrated reporting. Through this process we are able to present our impact for all stakeholders, this has led us to further our integrated thinking and create more sustainable value.

Garanti BBVA’s journey towards integrated reporting began in 2014 when the Bank took part in the IIRC’s Pilot Programme. In 2015, Garanti BBVA became a participant of the <IR> Business Network, and in 2018, we became leaders in Turkey through the disclosure of our long-term sustainable value creation for the economy and society as an Integrated Annual Report for our legal reporting for 2017.

Our long history of reporting on sustainability information led us to move towards integrated thinking and reporting. The process has been led by our investor relations team – trying to understand the needs of all our stakeholders has always been deeply rooted in our culture. By addressing investors’ need for a more comprehensive risk and opportunity analysis, it allowed us to gain a better understanding of the wider environmental and social context in our operations.

Reporting on our material issues – the basis of our strategy and business model – led to stronger linkages and the integration of financial and non-financial value creation. This, in turn, helped us integrate sustainability information, one of our strategic priorities, across the Bank more broadly to ensure better informed decision making, greater trust and credibility, and sustainable funding.

Providing a holistic assessment rather than standalone sustainability and financial reporting targeted at selective stakeholders, integrated reporting enables Garanti BBVA to:

  • Communicate the Bank’s total value creation story in a clear and comprehensive way to all stakeholders
  • Establish consistency and balance in reporting and to create greater connectivity of information on material matters, strategic priorities, business model and relevant KPIs
  • Explain how the Bank molds its business model in the light of mega trends, material matters and stakeholder expectations to contribute to responsible and sustainable development
  • Convey how it manages current and future risks & opportunities with its effective corporate governance and risk management.

As a demonstration of our commitment to integrated reporting, Garanti BBVA became a founding member of the Integrated Reporting Turkey Network (ERTA) which was established to raise awareness on integrated thinking and reporting throughout Turkey. Towards this purpose, as a member of the Executive Board and the Awareness Committee, Garanti BBVA backs ERTA in its cooperation with both public and private sectors to:

  • Have integrated thinking and reporting adopted across Turkey’s reporting landscape
  • Empower businesses in their reporting journeys
  • Ensure that good practices and experiences are shared to provide guidance.

The Bank frames each of its integrated annual reports within a thematic concept that speaks to the key developments in its strategy, business model, governance, and relevant KPIs, making sure to produce reports that are as transparent, clear and concise as they are engaging and refreshing for the readers.

For example, in our 2018 report titled ‘Garanti BBVA Empathy’, we positioned employee-customer engagement as a key communication tool by sharing Garanti BBVA’s employees’ stories with our customers to convey our customer-centric approach that enabled us to achieve the highest NPS (net promoter score) among our peers. We adopted a similar approach with our 2019 report titled “Next Decade” with a focus on mega trends, risks and opportunities of the next decade, and Garanti BBVA’s forward-looking strategy from an operational, data and technology perspective.

Garanti BBVA’s Integrated Annual Reports

In 2020, Garanti BBVA introduced our third Integrated Annual Report with the concept “Next Decade” with the AI-based Digital Report Assistant. The Digital Report Assistant is available on the dedicated report website along with the 2030 Outlook podcasts of Garanti BBVA Management, where they share the megatrends, how these shape the business model and the impact on their respective lines of business. The Next Decade Podcasts are available here.

Read Garanti BBVA’s 2020 Integrated Annual Report here.

The Empathy Stories, voiced by Garanti BBVA employees, are available here.

About Garanti BBVA

Established in 1946, Garanti BBVA is Turkey’s second largest private bank with consolidated assets of close to TL 429 billion (USD 72.4 billion) as of December 31, 2019. Garanti BBVA is an integrated financial services group operating in every segment of the banking sector including corporate, commercial, SME, payment systems, retail, private and investment banking together with its subsidiaries in pension and life insurance, leasing, factoring, brokerage and asset management, besides international subsidiaries in the Netherlands and Romania.

The bank provides a wide range of financial services to more than 17.6 million customers with 18,784 employees through an extensive distribution network of domestic and international branches.