Turkiye Garanti Bankasi Announces Dividend Distribution for 2023

Turkiye Garanti Bankasi A.S. (TGBD) disclosed a decision by its Board of Directors regarding the dividend distribution for the fiscal year 2023. On March 9, 2024, the board reached an agreement in compliance with the Banking Law, Capital Markets Law, and related regulations, as well as the bank's internal Article 45 titled “Distribution of the Profit”. The bank reported an after-tax profit of 87,331,719,888.51 Turkish Liras for the year 2023.

It was resolved to distribute a gross cash dividend totaling 13,099,758,000.00 Turkish Liras, which corresponds to 311.89900% of the total paid-in capital. This sum includes a first gross cash dividend of 210,000,000.00 Turkish Liras, equating to 5% of the bank’s paid-in capital, and a second gross cash dividend amounting to 12,889,758,000.00 Turkish Liras. Shareholders are expected to receive their dividends on March 29, 2024, subject to approval during the Ordinary General Meeting of Shareholders.