Economic Research

    A bank that sets an example with its responsibilities and its successes.A bank that sets an example with its responsibilities and its successes.

    Economic Indicators

     Realizations2014 ForecastLatest 2 Realizations
    Growth20122013Garanti BBVAGovernmentQ4 ’13Q1 ’14
    GDP (TL Billion, Nominal Prices)1.4171.5621.7191.719405407
    GDP (US$ Billion)786820788867199184
    GDP Per Capita (US$) 10.45910.78210.19111.277--
    GDP Yearly Growth Rate2,1%4,0%2,7%4,0%4,4%4,3%
    Industrial Production 20122013Garanti BBVAGovernment05.201406.2014
    Industrial Production (YoY)2,5%3,4%--3,5%%1,4
    Capacity Utilization Rate 74,2%74,6%--75,3%74,9%
    Inflation20122013Garanti BBVAGovernment06.201407.2014
    CPI (YoY)6,2%7,4%7,5%5,3%9,2%9,3%
    PPI (YoY)6,1%4,5%--9,8%9,5%
    Deflator6,9%5,9%7,5%6,0%--
    Interest Rates20122013Garanti BBVAGovernment06.201407.2014
    Benchmark bond (End of period)6,2%10,0%10,5%-8,3%8,4%
    Fixed Int. Rate Dom. Borrowing Average Cost8,5%7,9%--8,7%8,6%
    Dom. Borrowing Cash Maturity (Month)21,770,0--60,659,5
    O/N (End of period)5,5%4,5%9,5%-8,8%8,3%
    Eurobond (2030, Yield)4,0%6,8%--5,1%5,0%
    Foreign Currency20122013Garanti BBVAGovernment06.2014

    07.2014

    Basket (0.5*US$+0.5*Euro, End of Period)2,06722,53542,47-2,51032,4945
    EURO/US$ (End of Period)1,321,381,30-1,371,34
    US$/TL (Average)1,72781,91562,181,982,11722,1177
    US$/TL (End of Period)1,78262,13432,15-2,12262,1330
    Euro/TL (End of Period)2,35172,93652,79-2,89792,8560
    Balance of Payments (US$ million)20122013Garanti BBVAGovernment04.201405.2014
    Exports (f.o.b.)152.462151.807165.911166.50013.41513.750
    Imports (c.i.f.)236.545251.650253.266262.000-20.661-20.859
    Current Account Balance (12-month)-48.497-64.490-46.60055.500-56.813-52.636
    Current Account Balance/GDP -6,2%-7,9%-5,9%-6,4%--
    Tourism Revenue (12-month)21.25123.180-31.0001.8002.734
    Foreign Direct Investment (Net, 12-month)9.1509.758--670-13
    Capital Account Balance (12-month)47.43861.589--5.7092.486
    Debt Stock20122013Garanti BBVAGovernmentQ4’13Q1’14
    EU Defined Debt Stock/GDP36,2%36,3%35,5%33,0%36,3%35,9%
    Total External Debt Stock/GDP43,0%47,3%--47,3%48,0%
    Public/GDP14,4%14,8%--14,8%14,5%
    Private/GDP28,9%32,6%--32,6%32,9%
    Short-term/GDP12,8%15,7%--15,7%15,5%
    Long-term/GDP30,2%31,6%--31,6%32,5%
    Reserves (US$ million)20122013Garanti BBVAGovernment06.201407.2014
    Total Foreign Reserves120.290132.874--132.552133.226
    Central Bank Reserves100.320112.002--111.901111.738
    CB Net FX Position43.85639.184--34.37138.950
    Monetary Aggregates (US$ billion)20122013Garanti BBVAGovernment06.201407.2014
    M1181,9225,3--112,5118,3
    M2749,1910,1--450,1461,5
    M2Y792,0951,0--470,1481,3
    Central Government Budget (TL billion)20122013Garanti BBVAGovernment05.201406.2014
    Revenues331,7389,4-403,237,634,6
    Expenditures360,5407,9-436,336,135,2
    Interest Payments48,450,0-52,07,11,6
    Budget Balance-28,8-18,4--33,21,5-0,6
    Primary Balance19,631,5-18,88,61,0
    Central Government Debt Stock 20122013Garanti BBVAGovernmentQ4 ’13Q1 ’14
    C.G. Domestic Debt Stock/GDP31,9%25,8%--25,8%25,3%
    C.G. External Debt Stock/GDP10,6%11,7%--11,7%11,7%
    Gross Total Public Debt Stock/GDP45,0%40,0%--40,0%39,4%
    Net Total Public Debt Stock/GDP28,7%12,7%--

    12,7%

    11,9%

    Source: TURKSTAT, CBT, Ministry of Finance, Treasury, State Planning Organization, Reuters, Garanti BBVA

     

    This report has been prepared by T. Garanti BBVA Bankası A.S. is provided for information purposes only. Although the information on which the report is based has been obtained from sources which we believe to be reliable, no representation or warranty is made by T. Garanti BBVA Bankası A.S. for the accuracy or completeness of the information contained herein. Information contained herein is subject to change without notice. T. Garanti BBVA Bankası A.S. and/or any person connected with it accepts no liability whatsoever for any direct or consequential loss of any kind arising out of the use of this document or any part of its contents.

    IR Calendar

    • 03 February 15Garanti BBVA 2014 Financial Results
    • 19-22 January 15Bank of America Merrill Lynch’s 14th Annual Turkish Equity 1-1 Conference – London & New York
    • 27 October 14Garanti BBVA 9M14 Financial Results

    Help and AdviceHelp and Advice

    • Who are the members of the Board of Directors?

      The members of the Garanti BBVA Board of Directors are Süleyman Sözen, Ergun Özen, M. Cüneyt Sezgin Ph.D., Sema Yurdum, Jaime Saenz De Tejada Pulido, Javier Bernal Dionis, Maria Isabel Goiri Lartitegui, Ali Fuat Erbil, Jorge Sáenz-Azcúnaga Carranza, Iñigo Echebarria Garate Find out more

    • What is the ownership structure of Garanti BBVA?

      https://www.garantiinvestorrelations.com/en/about-garanti/detay/Shareholding-Structure/7/16/0 Find out more

    • Exchanges that Garanti BBVA’s shares traded and the percentage of publicly traded shares.

      Garanti's shares are traded on the İstanbul Stock Exchange (ISE) under the ticker symbol "GARAN". The shares are also quoted on the London Stock Exchange Main Market. Find out more

    • What are the main subsidiaries of the Bank?

      Garantibank International N.V, Garanti BBVA S.A., Garantibank Moscow, Garanti Securities, Garanti Asset Management, Garanti Leasing, Garanti Factoring, Garanti Pension and Life, Garantİ Payment Systems, Garanti Mortgage, Garanti Technology Find out more