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GBI maintains its A3 rating with a stable outlook by Moody's Investors Service
We are pleased to announce that Moody's Investors Service reconfirmed GBI's Long-term Bank Deposits rating of A3 with a stable outlook on 16 October 2008.
The rating reflects GBI's role as a niche player in the competitive segment of international trade and commodity finance, strong financial fundamentals and asset quality, historically low credit losses, reliable funding profile and solid profitability, while also taking into consideration the bank's exposure to emerging markets, particularly the risks associated with the Turkish market and the CIS countries.
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GBI maintains its A3 rating by Moody's Investors Service
We are pleased to announce that Moody's Investors Service confirmed GBI's Long term Bank Deposits rating of A3 on 25 January 2008*. This rating reflects GBI's role as a niche player in the competitive segment of international trade finance and private banking, its strong financial fundamentals and asset quality, historically low credit losses, a reliable funding profile and solid profitability, whilst also taking into consideration GBI's exposure to emerging markets, particularly the risk of the Turkish market.
A3 rating represents the highest investment grade level so far a bank with a Turkish shareholder has ever received. We are proud of having set a new benchmark among our peers in our niche market. With this rating upgrade, in terms of risk level, GBI takes its place next to various well-established European banks. This also confirms the success of GBI's sustainable growth and diversification strategy. Our success is built on to focus on a client-driven approach in providing products and services in a cost-effective way, to maintain a strong financial discipline and a fortress balance sheet, to secure a robust system of internal governance and controls, to operate with the highest standards of integrity and to be open and honest with ourselves, our colleagues, our shareholders and our communities.
We are confident that, working together with our clients and bank partners, we are building a world-class financial institution that delivers excellence in its core businesses. We are determined to set higher goals and continuously increase the standards in the years to come.
GarantiBank International N.V.
Managing Board -
Moody's Investors Service assigned A3 rating to GBI
We are pleased to announce that Moody's Investors Service upgraded Long term Bank Deposits rating of GarantiBank International N.V. by two notches to A3 from Baa2 as at 24 February 2007. The rating upgrade reflects GBI's role as a niche player in the competitive segment of international trade finance and private banking, its strong financial fundamentals and asset quality, historically low credit losses, a reliable funding profile and solid profitability, whilst also taking into consideration GBI's exposure to emerging markets, particularly the risk of the Turkish market.
A3 rating represents the highest investment grade level so far a bank with a Turkish shareholder has ever received. We are proud of setting a new benchmark among our peers in our niche market. With this rating upgrade, in terms of risk level, GBI takes its place next to various well-established European banks. This also confirms the success of GBI's sustainable growth and diversification strategy. Our success is built on to focus on a client-driven approach in providing products and services in a cost-effective way, to maintain a strong financial discipline and a fortress balance sheet, to secure a robust system of internal governance and controls, to operate with the highest standards of integrity and to be open and honest with ourselves, our colleagues, our shareholders and our communities.
The rating upgrade is a breakthrough for GBI and opens a new era for new opportunities. This will enhance our efforts to pursue our proven business model, exploit the opportunities and hence attain sustainable growth and high returns on equity.
We are confidant that, working together with our clients and bank partners, we are building a world-class financial institution that delivers excellence in its core businesses. We are determined to set higher goals and continuously increase the standards in the years to come.
GarantiBank International N.V.
Managing Board - GBI facilitates 5.7 mn MT commodity trade in 2006H1, August 2006
During first half of 2006, GarantiBank International NV ("GBI") facilitated 5.7 million metric tonnes of physical commodity trade through its Trade Finance Division. Total transaction volume was USD 3.1 billion for the same period. These figures represent 17% and 24% growth in tonnage and USD value, respectively. Such activity includes steel and steel making raw materials, agri-business commodities, chemicals, thermal coal, non-ferrous metals and other merchandise.
Reaching to 3.8 million metric tonnes with 12% growth, steel and steel making raw materials is the largest commodity cluster in our half-year volume. 39% of this cluster is related to flat and long steel, 33% is coking coal, 19% is steel scrap and the rest 9% consists of mainly pig-iron and ferro-alloys.
Next largest commodity cluster is agri-business commodities with 1.3 million metric tonnes volume and 16% growth. In this cluster, GBI facilitates physical trade of fertilizers, grains and edible oil.
In addition to facilitating commodity trade in selected areas, GBI also facilitated international trade in other areas such as financing machinery and equipment trade and providing trade-related financing to selected emerging markets' local banks. In such capacity, GBI is one of the top five global forfaiting houses, is represented on the Board of International Forfaiting Association and has extensively mobilized its origination and distribution muscles to facilitate international trade by adding value to its valued clients and counterparts.
GBI is a regional expert of international trade finance covering transactional commodity finance, structured trade finance and forfaiting markets to add value to Black Sea, Caspian and Mediterranean basin countries' trade-flows. Next to Trade Finance, Private Banking is one of the two core businesses of GBI.
GBI is based in Amsterdam, the Netherlands since 1990 and is an operationally independent subsidiary of Garanti Bank Turkey, whose shareholding structure includes Doğus Group, Turkey and General Electric, USA on equal partnership basis.
GarantiBank International NV
- USD$250 million dual tranche syndicated term loan facility
Alpha Bank A.E., Bank Austria Creditanstalt AG, Banco BPI Cayman Ltd, The Bank of New York, The Bank of Nova Scotia, BayernLB, Erste Bank der oesterreichischen Sparkassen AG, HSH Nordbank AG, Mashreqbank psc, Natexis Banques Populaires, Raiffeisen Zentralbank Österreich Aktiengesellschaft, Standard Chartered Bank, Wachovia Bank, National Association, WGZ-Bank AG. (together the "Mandated Lead Arrangers") are pleased to announce the successful closing of the syndication of the Dual Tranche Term Loan Facility for Amsterdam based GBI.
As the facility was significantly over-subscribed, the Facility Amount was increased to US$ 250 million and participants were scaled back. Signing took place in Paris on Friday 24th March 2006.
The bank group, allocations and status were as follows:
Bank Title Alpha Bank A.E MLA Banco BPI Cayman Ltd MLA Bank Austria Creditanstalt AG MLA The Bank of New York MLA The Bank of Nova Scotia MLA BayernLB MLA Erste Bank MLA HSH Nordbank AG MLA Mashreqbank psc MLA Natexis Banques Populaires MLA Raiffeisen Zentralbank österreich Aktiengesellschaft MLA Standard Chartered Bank MLA Wachovia Bank, National Association MLA WGZ-Bank AG Westdeutsche
Genossenschafts-ZentralbankMLA American Express Bank GmbH Co-Arranger Rabobank International Co-Arranger Banca Intesa SpA Co-Arranger CoBank, ACB Co-Arranger Caja Madrid Co-Arranger Hua Nan Commercial Bank Ltd, London Branch Senior Lead Manager Banco Bilbao Vizcaya Argentaria SA, Milan Branch Senior Lead Manager Sampo Bank plc Senior Lead Manager OKO Bank Senior Lead Manager Landesbank Saar Senior Lead Manager KBC Bank N.V. Dublin Branch Senior Lead Manager Details of the Term Loan Facility are: Facility Amount: Tranche A: US$ 166,666,666,67 Tranche B: US$ 83,333,333.33 Purpose: Proceeds of the Facility will be used by the Borrower to finance export contracts. Maturity: Tranche A: 1 year Tranche B: 2 years Margin: Tranche A: Libor plus 0.20% p.a. Tranche B: Libor plus 0.375% p.a. Natexis Banques Populaires and Standard Chartered Bank acted as Joint Bookrunners. The Bank of New York is the Facility Agent.
- GBI Trade Finance Press Release, March 2006
During 2005, GBI had facilitated more than 11 million metric tonnes of commodity trade. Such figure corresponds to a 22% increase over 2004.
The largest portion, 35%, in GBI's tonnage volume was related to steel and steel making raw materials ("S+SMRM"). When compared to the previous year, S+SMRM tonnage GBI financed decreased by 20% and became 3.9 million metric tonnes. Such development took place as a result of the steel price volatility in Q2 and Q3 of 2005.
Next largest commodity cluster, being 30%, is energy commodities. There, GBI financed 3.3 million metric tonnes of material, largely being thermal coal.
Remainder of the commodity tonnage included non-ferrous metals, chemicals, grains, fertilizers and other materials.
In addition to facilitating commodity trade in selected areas, GBI also facilitated international trade in other areas such as financing machinery and equipment trade and providing trade-related financing to emerging markets local banks. In such capacity, GBI became one of the top five global forfaiting houses in 2005 and extensively mobilized its origination and distribution muscles to facilitate international trade and to add value to its valued clients and counterparts.
Total transaction volume of all trade finance activity in 2005 was realized as USD 5.1 billion.
GBI is a regional expert of international trade finance covering transactional commodity finance, structured trade finance and forfaiting markets to add value to Black Sea, Caspian and Mediterranean basin countries' trade-flows. Next to Private Banking, Trade Finance is one of the two core businesses of GBI.
As of December 2005, the indirect co-shareholder of GBI is General Electric Company of USA as a result of its purchase of 25.5% shares of Garanti Bank Turkey. Garanti Bank is among the top three privately controlled financial institutions in Turkey. General Electric is the world's largest holding corporation with interests in finance, manufacturing, technology and media. GBI is an operationally independent subsidiary of Garanti Bank Turkey established in Amsterdam, the Netherlands since 1990.
- General Electric, the new strong co-shareholder of our parent bank, Garanti Bank Turkey!!
GBI is owned by Garanti Bank Turkey, one of the three largest financial institutions of Turkey. In December 2005 General Electric Consumer Finance, owned by the well-known American corporation General Electric acquired 25.5% of our parent bank's shares. General Electric and Garanti Bank are a perfect match because the expertise and products of the two companies complement each other to form a point of departure for future product development within Europe and even outside. Obviously the participation of General Electric generates a much more solid shareholder structure for GBI. Please go to www.geconsumerfinance.com to have a better insight of General Electric Consumer Finance.
