Our General Approach

Our General Approach

As always, our aim with this integrated report is to provide a coherent story of our activities. The basis of this story is the materiality analysis which enables us to identify the most relevant and important topics for Garanti BBVA and its stakeholders, the material topics. Material topics are mainly determined based on dialogue with all internal and external stakeholders and are then plotted in the materiality matrix. The topics defined within the materiality matrix form the basis of this report, as described in the ‘About This Report’ section.

We performed our first materiality analysis in 2013. As we want to make sure that we are always in line with the needs of our stakeholders and that the identified material issues are still the most important, we perform an update of our materiality analysis approximately once in every two years. The revision in the first quarter of 2017 formed the basis for our 2017 and 2018 and 2019 reports, whereas the revision in 2020 made the basis of our 2020 report. The last revision was finalized in 2021. As we brought our new analysis to completion, we once again listened to our internal and external stakeholders, and reviewed the connection between our corporate strategy and global trends which impact the banking sector.

In 2019, with the aim of ‘bringing the age of opportunity to everyone’, Garanti BBVA reviewed and revised its strategic priorities in alignment with the BBVA Group and in the light of the main trends reshaping the world and the financial services sector. With the new strategic priorities set, revisions were made to the materiality analysis to ensure that the stakeholders as well as Garanti BBVA maintain an optimum focus. These revisions paved the way for a review of material topics based on data gathered from a variety of sources both globally and locally while also providing a database that is auditable and objective, which, together, put the analysis on a more solid basis as compared with the previous years and in greater alignment with the current trends.

In our 2020 analysis where we, as Garanti BBVA, gathered the existing and potential expectations, risks and opportunities from the perspective of all internal and external stakeholders and group strategy, we studied the sectoral reports, global reports, and advice by international professional organizations such as the United Nations Environment Programme Finance Initiative (UNEP FI) and Global Reporting Initiative (GRI), and took into consideration the Group-wide evaluation of a total of 59 international reports that shed light on current trends. On another front, we identified the material topics taking into account the outputs from the analyses finalized at the BBVA Group for global scale investors and NGOs. Then, we conducted a comprehensive stakeholder analysis by reaching all key stakeholder groups via questionnaires, meetings and phone calls to gather their opinions. We tackled the governing and optional regulatory framework, conducted analyses on all printed and printed media platforms, and reviewed the relevant publications by similar establishments. In addition, we analyzed our mainstream and sustainability-sensitive investors, national and international NGOs with which we belong on a global scale, and we studied the current trends in the external trend analysis. We finalized our 2020 materiality analysis considering the alignment of all topics also with our integrated Business strategy. According to the analysis, the following issues were assigned greater priority as compared to the others within the 13 material topics: Solvency and Financial Performance, Climate Change, Responsible Use of Data, Cybersecurity and COVID-19. All our material topics including the highlighted ones above were clustered under six main headings in our report: (1) Financial Health, (2) Sustainability, (3) Reaching More Customers, (4) Operational Excellence, (5) The Best and Most Engaged Team, and (6) Data and Technology. In addition to these six main headings, Corporate Governance and Strong Management of All Risks, and COVID-19 that plagued the entire 2020 are addressed in detail in individual sections in an integrated manner with all performance sections.

According to the finalized analysis, the most material topic was Climate Change. While it was ranked higher by stakeholders in previous years, Solvency and Financial Performance dropped to the fourth spot in 2021. As clearly revealed this year, both our internal and external stakeholders take greater heed of the fact that we are running out of time for achieving the UN Sustainable Development Goals (SDGs) and for taking the actions that will minimize Climate Change Impact, and all our stakeholders prioritize every step we will be taking together to this end. As was the case in earlier years, the outputs from the analysis in 2021 once again showed that the solid and sustainable solvency and financial performance, climate change and pandemic topics must be addressed and managed with an integrated perspective. As COVID-19 remained a material topic, Responsible Use of Personal Data and Cybersecurity headings incorporating data privacy and handling cyber risks within the scope of the impacts of increased digitalization in the wake of the pandemic took place in the top ranks also in 2021.
Activities covering all material topics along with these highlighted headings are explained in the report under the Financial Health, Sustainability, Reaching More Customers, Operational Excellence, The Best and Most Engaged Team, and Data and Technology headings that make the Company’s six strategic priorities, by establishing a connectivity under the sections COVID-19, Corporate Governance, Risk Management and Our Value Creation.

DOUBLE MATERIALITY
Garanti BBVA undertook double materiality study for Climate Change -the highest priority both for the Bank’s strategy and its stakeholders-, Protection of Personal Data, Cybersecurity, Solvency and Financial Performance. As part of this study, the Bank analyzed the impact of these topics upon Garanti BBVA (Outside-Inward Perspective) while how these topics impacted the others, in other words, how Garanti BBVA’s activities dealing with these topics affected various stakeholders (Inside-Outward Perspective). Thus, the Bank analyzed risks and opportunities for each topic in connection with the aspect they were analyzed. Garanti BBVA regards the double materiality analysis that it has undertaken for the very first time in 2021 as a basic effort showing that the Bank attaches great importance to this new methodology and started working on it, and aims to increase the effectiveness of this study in the coming years.

Sözleşme

lorem klsdjlk sajdk ajsdkjskdjıoqw dqwuda sd lsdidss uds mdsudusuadahskasjh dsajdhajskhd kjasdhjkashdjk asjdhaskjkhd as

lorem klsdjlk sajdk ajsdkjskdjıoqw dqwuda sd lsdidss uds mdsudusuadahskasjh dsajdhajskhd kjasdhjkashdjk asjdhaskjkhd as

lorem klsdjlk sajdk ajsdkjskdjıoqw dqwuda sd lsdidss uds mdsudusuadahskasjh dsajdhajskhd kjasdhjkashdjk asjdhaskjkhd as

Sözleşme

lorem klsdjlk sajdk ajsdkjskdjıoqw dqwuda sd lsdidss uds mdsudusuadahskasjh dsajdhajskhd kjasdhjkashdjk asjdhaskjkhd as

lorem klsdjlk sajdk ajsdkjskdjıoqw dqwuda sd lsdidss uds mdsudusuadahskasjh dsajdhajskhd kjasdhjkashdjk asjdhaskjkhd as

lorem klsdjlk sajdk ajsdkjskdjıoqw dqwuda sd lsdidss uds mdsudusuadahskasjh dsajdhajskhd kjasdhjkashdjk asjdhaskjkhd as