Stock Info & Listing
Garanti BBVA carried out its IPO in 1990 on Borsa İstanbul and became the first Turkish company to offer its shares on international markets in 1993. Garanti BBVA’s depositary receipts are listed on the OTC (Over-The-Counter) Markets in the USA. In 2012, Garanti BBVA qualified to get in the prestigious tier of the U.S. OTC market, OTCQX International Premier, where companies traded must meet high financial standards and an effective disclosure process.
Garanti BBVA has a market capitalization of TL 603 billion (USD 14 billion) as of year-end 2025. GARAN is the most valuable bank in Türkiye. Its floating MCAP is the 11th with 2.5% weight in BIST100.
The Bank’s free float market capitalization corresponded to TL 84 billion (USD 2.0 billion). 38% of Garanti BBVA’s shares in the free float are owned by foreign institutional investors. Including the share of the domestic institutions, 76% of the publicly traded shares are held by institutional investors, whereas the remaining 24% are held by individual investors*.
*According to MKK (CSD of Türkiye) data on 31 December 2025.
Share Performance
In 2025, Turkish equity market mainly shaped by expectations surrounding the disinflation process, the timing and pace of monetary easing and political developments. Turkish equities started the year with a constructive outlook, supported by optimistic expectations of the disinflation process. Investor sentiment remained favorable until March, reflecting confidence in the CBRT’s commitment to maintaining orthodox monetary policies. In mid-March, political developments led to a temporary deterioration in risk sentiment, triggering the sharpest sell-off of the year. During this period, the BIST 100 Index declined by 16% over the course of three trading days, with banking stocks—more sensitive to shifts in risk perception—leading the losses. Following these developments, the CBRT reaffirmed its orthodox monetary policy stance through timely and decisive intervention. This approach, supported by market-friendly measures and a tighter monetary framework, facilitated a swift recovery in market conditions. As a result, volatility in financial markets gradually subsided in the subsequent months, giving way to a more stable and constructive investment environment.
Following the events in March, a period of relative political stability and the continuation of the rate-cutting cycle supported a recovery in market sentiment, leading to renewed foreign investor inflows, which peaked in June. Domestic investors continued to underpin market momentum, although local institutional investors also maintained a prudent and selective positioning. Going forward: Key market catalysts to monitor include developments related to CBRT’s rate cutting cycle, disinflation path and geopolitical developments.
More in depth look into GARAN, there was a net foreign inflow of USD 194 million during the year (vs. net USD 3.6 billion inflow in BIST-100). Nevertheless, the share of foreign investors in the stock remained flattish to 38% by year-end 2025 from 38% at the end of 2024, having reached as high as 46% in mid-March.
GARAN emerged as the best performer amongst the banking stocks. The stock yielded 20% in TL terms, outperforming XBANK by 5%. Garanti BBVA concluded 2025 as the most valuable bank in Türkiye. This remarkable performance is mainly a reflection of Garanti BBVA’s net income generation capability which is 2 times higher than the peers’ average net income. Additionally, Garanti BBVA’s customer-centric banking approach continued to support the sustainability of its business model, as evidenced by core banking revenue generation nearly 3 times higher than that of its peers, even amid a challenging operating environment.
Investor Relations Activities
Communicating the value created in a proactive, transparent and consistent way, Garanti BBVA Investor Relations’ activities in 2025 can be summarized as follows;
- The team participated in 6 investment conferences and roadshows, either in-person or online. The team met with 152 international investment funds from Asia, USA, Canada, the Middle East, Europe and Türkiye.
- Each quarterly teleconference on Financial Results and the annual Operating Plan Guidance disclosure attracted live on average 110 analysts and investors.
- Consensus earnings expectations were managed by having one-on-one or group meetings on a regular basis with 17 equity analysts who cover Garanti BBVA.
- Garanti BBVA Ranked #1 with highest score in Corporate Governance rating in Türkiye
- Garanti BBVA’s became the first private commercial bank in Türkiye, to publish its 2024 Integrated Annual Report in accordance with Türkiye Sustainability Reporting Standards(TSRS) 1 and 2.
- Operating Plan Guidance and results presentations were published on Garanti BBVA Investor Relations website and mobile app. The audio recordings of these presentations are also available on the website and mobile application. Contents prepared both in Turkish and English for the convenience of the investment community enable investors from all around the world to have easy access to all the information they need.
- Periodic newsletters were sent to investors and other stakeholders informing them on the current material developments including macro-economic and ESG issues,
- Following the financial results in each quarter, 2-minute summary videos were made available for the convenience of the stakeholders. These videos were public on both the website and our bank's social media accounts.
- Through the monthly released 'Macro Talks' videos, informative updates on macroeconomic developments are provided for all investors and stakeholders.
Commitment to its irreplaceable values of the principles of trust, integrity, accountability and transparency serves as the guarantee of the Bank’s strong reputation and is Garanti BBVA’s main responsibility to all its stakeholders. The steps Garanti BBVA takes to create value for the economy, the society and all its stakeholders are recognized by national and international authorities.