The growth achieved in a short time span by DenizBank has been possible through the Bank's commitment to corporate governance principles and the parallel reinforcement of its management mechanisms. The attitude of the founders and the professional management enabled rapid progress in the adaptation and execution of Corporate Governance Principles ("CGPs").
The Bank voluntarily adopted the Capital Markets Board's CGPs by taking into consideration international practices and sector specific applications and announced its "Corporate Governance Report" which was discussed and voted upon during the Board of Directors meeting held on September 16, 2004.
The Key Ramifications of the Report Are That
- The President of the Board of Directors is an Independent Member
- The positions of President of the Board and CEO are separate
- The majority shareholder and family members of the majority shareholders are not represented on the Board
- The number of members of the Board of Directors was increased from 5 to 7
- The number of independent members of the Board of Directors was increased to 3
- One independent member of the Board of Directors was appointed for representing minority shareholders
- The Articles of Association were amended in line with Corporate Governance Principles
- The internet site was reorganised in line with Corporate Governance Principles, and the latest information was thus made easily accessible
- Investor Relations, Corporate Governance and Organisation Departments were formed.
Following Are a Few Concrete Examples of DenizBank's Definite Success in the Execution of CGPs
- The Bank is made as an example in the "Specialisation Programme for Board of Directors Membership" maintained by the cooperation of the Turkish Quality Management Association and Bilgi University
- Taking part for the first time, DenizBank was awarded the highest Corporate Governance rating, and was top ranked for 2005 in the annual "Corporate Governance Assessment Report" by EFG Istanbul Securities