BANCI | ENGLISH

GE Capital sells its investment in Romanian joint venture to Garanti Bank

Trimite stirea unui prieten
Nume *
E-mail *
E-mail prieten *
Mesaj
Cod validare * Turing Number
Tastati codul din imagine (doar cifre)
195.154.184.126

Autor: Bancherul.ro
2010-12-17 09:37

Bucharest, Romania (December 16, 2010): GE Capital and Turkiye Garanti Bankasi A.S (’Garanti Bank’) announced today changes in the shareholder structure of their Romanian joint venture.

GE Capital has sold its 26.7% stake in the joint venture to Garanti Bank who becomes the 100% owner of the Romanian businesses comprising of the regulated Garanti Bank and the GE Money branded specialized financial companies.

Dmitri Stockton, President of GE Capital Global Banking said, “The joint venture with Garanti in Romania has been successful and I am immensely proud of the team’s efforts to date.

The rationale to divest our shareholding is based on the overall GE
strategy to increase investment in core industrial businesses including infrastructure and technology, while remaining fully committed to a smaller, more focused GE Capital.”

Ergun Ozen, President & CEO of Garanti Bank added that this transaction reinforced Garanti’s commitment to the Romanian market. “There will be no change regarding the strategy and vision going forward. We believe that by transferring our strengths
in product innovation, client service and technology, we are building a unique and successful banking group in Romania.”

Garanti Banking Group in the Romanian market has reached 1.5 bn Euros in assets, and the bank registered an increase in assets of 50% in 2010 vs. the previous year, with a strong performance in both deposits and loans.

The Romanian operations will all operate under the Garanti brand as of January 2011.

Cristian Colteanu, GE Regional Executive for Romania said, “GE remains committed to Romania. We will continue to provide solutions for energy, technology, water and healthcare infrastructure projects, helping address local challenges and needs. In addition, we remain an important player in the community, investing in educational programs designed to develop the leadership and entrepreneurial skills of the young generation. We have proved to be a reliable partner for Romania and will continue to be over time.”

About Garanti Bank

Garanti Bank is the second largest-private bank in Turkey with US$87.3 billion in assets as of September 30, 2010. Garanti provides retail, commercial, corporate and private banking services to over 9.7 million customers and operates 862 branches.
For more information, please visit www.garanti.com.tr

Comentarii



Adauga un comentariu
Nume *:

E-mail *:
(nu se afiseaza pe site)
Subiect:
*
Comentariu:

Turing Number

Tastati codul din imagine (doar cifre)  



Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH



Merger of Alpha Bank and UniCredit Bank Romania

Press Release: "Alpha Services and Holdings announces a strategic partnership with UniCredit in Romania Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policy In its meeting of 4 April 2023, the Board of the National Bank of Romania decided: • to keep the monetary policy rate at 7.00 percent per annum; • to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum; • to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions. The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release: ING posts FY2022 net result of €3,674 million,
proposed final 2022 dividend of €0.389 per share

4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%

Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income

Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter

Risk costs declined to 17 bps of average customer lending

Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits

On a full-year basis, our primary customer base grew by 585,000 detalii

BT Financial Results as at 30 September 2022

BT Financial Results as at 30 September 2022 Banca Transilvania – sustained growth in customers and operations during the first nine months of the year "We continued our robust growth in the number of clients and transactions, with a dynamic well above the market average. We have been growing steadily and continued financing companies and individuals, despite the fact that the financial market is more fraught with uncertainty than ever and
the funding costs and capital requirements are additional factors driving the uncertainty in the economy. We remain committed to our objective - to be the main supporter of the economy and of the state for the development of Romania", states Mr. Ӧmer Tetik, Chief Executive detalii

 



 

Ultimele Comentarii