Shareholding Structure


T. Garanti Bankası A.Ş. 84,91 424.566.290
Achmea B.V. 15,00 75.000.000
Eureko Sigorta AŞ. 0,09 433.710
100 500.000.000

On June 21, 2007; one of Europe’s largest insurance companies Eureko B.V. (Achmea) has purchased 15% of our shares for EUR 100 million. This purchase has shown an unprecedented company value in the Turkish insurance sector and it is a clear indicator of our market share growth speed, potential and profitability.

Garanti BBVA

Established in Ankara in 1946, Garanti BBVA is Turkey’s second largest private bank with consolidated assets totaling TL 356.3 billion as of December 31, 2017.

Garanti BBVA operates in corporate, commercial, private, retail and investment banking as well as in SME banking and payment systems. The Bank serves as an integrated financial services group with subsidiaries that operate in life insurance, private pension, leasing, factoring, securities and asset management sectors. Garanti BBVA’s international subsidiaries are located in the Netherlands and Romania.

As of December 31, 2017, Garanti BBVA provides a wide range of financial services to more than 15 million customers with 19 thousand employees. The Bank’s branch network includes 937 domestic locations and eight foreign branches, with seven in Cyprus and one each in Malta. In addition, the Bank has representative offices in London, Düsseldorf and Shanghai; 5,003 ATMs; an award-winning Call Center; an extensive distribution network consisting of internet and mobile branches as well as social banking platforms, all of which feature an advanced technology infrastructure.

Aiming to achieve sustainable growth by creating value for all its stakeholders, Garanti BBVA builds its strategy on the principles of “transparency”, “straightforwardness” and “accountability”. The Company continually works to improve customer experience by offering customers products and services that are tailored to meet their needs. Thanks to its skilled and dynamic workforce, unrivalled technology infrastructure, customer-focused service approach, innovative and high quality products and services, Garanti BBVA is the leader of the Turkish banking industry.

In addition, Garanti BBVA strives to adopt the best corporate governance practices. Banco Bilbao Vizcaya Argentaria S.A. (“BBVA”) owns 49.85% of Garanti BBVA shares. The Bank’s shares are publicly listed and traded in Turkey with a free float of 50.07% on Borsa Istanbul as of December 31, 2017. In addition, Garanti BBVA depositary receipts are traded in the UK and US.

With its dynamic business model and pioneering approach that integrates technology into its products and services, Garanti BBVA continues to make a difference in the sector while making life easier for its customers. Standing out with a dynamic business model, Garanti BBVA facilitates the lives of customers through the use of advanced technology applications, which are integrated into its innovative products and services. Custom-tailored solutions and a wide product variety play a key role in the Bank’s TL 285.5 billion cash and non-cash loan portfolio. Garanti BBVA’s high asset quality is achieved through advanced risk management systems and a well-established risk management culture, which differentiate the Bank in the sector.

Building on the Bank’s Core Values, Garanti BBVA defines sustainability as a commitment to create a strong, successful business model for the future, while minimizing negative environmental and social impacts, and sharing long-term values with its customers, employees, shareholders and the local communities, wherever it operates. Garanti BBVA continues to bolster its approach to sustainable banking with social investment programs in various areas, including sports, education, arts, the environment and business information.


Achmea is a leading international insurance group with 200 years of experience. Based in the Netherlands, Achmea is one of the world’s largest cooperative insurance organizations, operating with 18,000 employees in seven countries. Achmea provides customers with products and services that are transparent, financially affordable and easily understandable.

Achmea considers its customers as the actual owners of the Group and ranks them first among stakeholders. Believing that solidarity forms the basis of cooperative insurance, Achmea undertakes sustainable initiatives for its customers to achieve common goals by sharing strategic and financial risks. Achmea Group is widely known as an innovative employer, one of the best places to work in the finance industry, and a leader in boosting diversity.

Achmea develops solutions for health related issues when necessary; provides coverage and protection against damages resulting from fire, traffic accidents and theft; and ensures long-term financial security of its customers and their families. Through its micro insurance projects, Achmea also contributes to establishing economic stability in underdeveloped countries.

Active in all insurance branches and distribution channels, Achmea is preferred by one in two people in its home market, the Netherlands. Outside the Netherlands, Achmea is the second largest insurance company in Greece; the Group also holds strong market positions in Turkey, Slovakia, Ireland, and Romania.

Achmea’s gross premium production under contract totals EUR 20 billion, shareholders’ equity amounts to EUR 9.7 billion, and the Group’s solvency ratio stands at 202%. International credit rating agency Standard & Poor’s affirmed Achmea’s Insurer Financial Strength Rating as ‘A+’.

Operating in the non-life insurance market, Eureko Sigorta is a member of Achmea in Turkey and the country’s leader in bancassurance, thanks to its powerful partnership with Garanti BBVA.

In March 2007, Achmea (formerly Eureko B.V.) entered into a partnership agreement with Garanti BBVA in Turkey to acquire 80% stake in Garanti Insurance’s non-life insurance operations and 15% stake in Garanti BBVA Penion’s life insurance and pension operations. In May 2011, Achmea completed the share transfer process, which had started with the initial agreement in 2007. Pursuant to the initial agreement, the Company acquired the remaining 20% stake in Eureko Insurance held by Garanti BBVA to become the sole owner of Eureko Insurance.