2011 annual report 2011 annual report - Garanti Bankası

ContentsSECTION I - Introduction03 Annual Report Compliance Opinion04 Agenda of the Ordinary GeneralShareholders’ Meeting05 Amendments to Article of Association06 About Garanti08 Corporate Profile09 Our Vision, Mission and Strategy10 Main Pillars of Our Strategy11 Our Core Values12 Milestones in Garanti’s History14 2011 Macroeconomic Overview16 Chairman’s Letter17 Letter from the CEO20 Financial Highlights22 Garanti in 201122 Key Financial Indicators22 Key Financial Ratios23 Garanti’s Competitive Advantages andMarket Shares24 Garanti: The Leading Bank in Turkey24 Key Financial Figures (5 year)26 Assessment of Financial Position,Profitability and Debt PaymentCapability27 Garanti’s Credit Ratings28 Auditors’ Report28 Profit Distribution29 Information on Garanti Bank Share30 Awards36 2011 Activities38 Retail Banking40 Private Banking42 SME Banking44 Housing Finance45 Commercial Banking46 Corporate Banking47 Cash Management and TransactionBanking48 Project Finance50 Branchless Banking / AlternativeDelivery Channels52 Call Center54 Payment Systems / Credit and DebitCards58 Investment Banking60 Insurance and Pension62 International Banking64 Treasury66 ABACUS68 Human Resources70 Garanti’s Integrated Subsidiaries88 Continuous Progress and Innovation94 Sustainability and GarantiSECTION II – Management and CorporateGovernance102 Summary of the Board of Directors’Annual Report103 Board of Directors and Auditors104 Senior Management108 Committees and Committee MeetingsAttendance111 Support Services Providers111 Risk Management Policies116 Audit Committee’s Assessment ofthe Internal Control, Internal Audit andRisk Management Systems118 Related Party Risks120 Corporate Governance PrinciplesCompliance ReportSECTION III – Unconsolidated FinancialStatements134 Independent Auditors’ Report135 Unconsolidated Financial Report as ofand for the Year Ended December 31,2011SECTION IV – Consolidated FinancialStatements220 Independent Auditors’ Report221 Consolidated Financial Report as of andfor the Year Ended December 31, 2011307 DirectoryIn Garanti Bank 2011 Annual Report, the next generation barcode technology“QR code” is used. Please scan the image with your “QR Code Reader” equippedsmartphone to access the related website for additional content on Garanti.This annual report is printed on 100% recycled paper.