Evaluation of Banks’ Sustainability Performance in Turkey with Grey Relational Analysis

Abstract

Commitment to sustainable development and adopting sustainability issues have strategic importance in current global competitive environment. Sustainability reports which have come out recently, take environmental and social performance of companies as well as financial performance into account and show firms’ efforts towards sustainable development. The aim of this study is to evaluate the sustainability performance of banks in Turkey that issue sustainability report by using grey relational analysis method. In this context, the specified ratios relating to banks’ economic, environmental, and social performance were compiled from the banks’ sustainability reports of 2011. Banks performances have been analyzed based on 3 financial, 2 social and 4 environmental ratios and banks have been listed based on their sustainability performance. According to the sustainability performance of banks, TSKB ranks first and is followed by Garanti Bank and Akbank respectively.

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