Garanti Group continues its growth in the Romanian market and registers RON 631.5 million revenues in 2014

Garanti Group Romania, one of the most dynamic and innovative financial groups in the local market, registered RON 631.5 million revenues in 2014, an 18.8% increase as compared to the previous year. The Group’s consolidated net profit reached RON 34.4 million at the end of 2014, whilst its total assets reached RON 9 billion, a 5% increase year on year, said the bank in a statement.

Garanti Bank registered a 26.3% increase in revenues at the end of 2014 as compared to 2013, to RON 539.2 million. At the same time, the bank’s net profit reached RON 9.4 million, having absorbed the impact of prudential requirements associated with the banking system in 2014, still remaining profitable.

At their turn, the Group’s non-banking institutions registered net profit last year: Garanti Consumer Finance – RON 13.9 million and Garanti Leasing – RON 11.1 million.

“Garanti Group continued its growth in 2014, in a challenging economic environment. We will continue to do so, by constant progress of seeking the best services for our clients, via a growing network of agencies, a trusted online platform, a wide network of smart ATMs and of course our highly qualified staff ”, stated Ufuk Tandoğan, CEO Garanti Group Romania.

During 2014, Garanti Bank’s overall loan volume reached RON 5.83 billion, registering a 19.8% increase year on year. The SME segment grew by 17.1% compared to the previous year, while the corporate segment increased by 7.8% in the same period. The retail segment also increased, by 31.4%, following the merger with Garanti Mortgage. Customer deposits registered a 66% growth in volume.

In 2014, Garanti Bank opened six new branches – four in Bucharest, one in Cluj Napoca and one in Timisoara –, reaching 84 nationwide, and widened its smart ATM network, currently having over 300 Bancosmart units across the country. Furthermore, last year, the bank issued a corporate bond offer of RON 300 million, on the Bucharest Stock Exchange, with a five year maturity.

Garanti Group Romania is owned by Turkiye Garanti Bankasi AS (TGB), the second largest private bank in Turkey. In 2014, TGB posted an unconsolidated net income of TL 3.2 billion (RON 5.15 billion). TGB’s total assets reached TL 218.9 billion (RON 352.02 billion), while its contribution to the economy through cash and non-cash lending totaled TL 170.8 billion (RON 274.64 billion). TGB serves to more than 10 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services.

Garanti Group consists of Garanti Bank, Garanti Leasing (the brand under which Motoractive IFN SA operates) and Garanti Consumer Finance (the brand under which Ralfi IFN SA operates). The two Non Banking Financial Institutions complete Garanti Bank’s offer with specific leasing products (financial leasing – vehicles, equipment, real estate – sale & lease-back) and fleet administration services, consumer credit, as well consumer loans. Garanti Group offers financial services on the local market to more than 500,000 clients.

Garanti Group is owned by Turkiye Garanti Bankasi (TGB), a universal bank with leading presence in all business lines. TGB is the second largest private bank in Turkey and serves to more than 10 million customers in corporate, commercial, SME, and consumer segments, offering fully integrated financial services.

Garanti Bank offers a series of quality products and services for all business segments: retail, SME and corporate, and it is one of the most dynamic and innovative banks on the local market. Present in Romania since 1998, the bank developed a solid clients portfolio and extended its national presence through agencies and alternative channels, reaching an extended network of 84 branches and over 300 intelligent ATMs that can be utilized by anyone, not only the bank’s clients, for transactions with or without card.