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Garanti Group Romania registered EUR 39.3 million revenues in Q1, a 14.9% increase
Autor: Bancherul.ro
2015-05-03 13:15

Garanti Group Romania said in a statement it registered EUR 39.3 million consolidated net revenues in the first quarter of 2015, a 14.9% increase over the same period last year. The Group’s consolidated net profit reached EUR 6.9 million, whilst its total assets reached EUR 2.1 billion.


Garanti Bank registered net revenues of EUR 33.2 million at the end of March, a 17.6% rise year on year, as well as a net profit of EUR 4.9 million. The Group’s non-banking institutions also showed a net profit, at the end of the first quarter: Garanti Consumer Finance EUR 1.3 million and Garanti Leasing EUR 0.6 million.


During the first three months, Garanti Bank’s overall loan volume reached EUR 1.36 billion, representing a 19.6% increase year-on-year. Compared to Q1 in 2014, SME lending grew by 12.5%, corporate lending by 8.5% and retail lending by 34%.


Furthermore, customer deposits registered a 61% growth in volume year-on-year, as a consequence of the Bank’s efforts to increase the customers’ base and becoming a relationship bank.


“Garanti Group has made a good start in 2015. Lending is stepping up, while customer deposits continue to increase year on year. We expect to show sustainable growth during the following months as well. We will continue our strategy of satisfying our clients’ needs with the help of innovative financial services, a growing network of agencies, a trusted online platform, a wide network of smart ATMs and a highly qualified team”, stated Ufuk Tandoğan (pictured), CEO Garanti Group Romania.


Garanti Group Romania is owned by Turkiye Garanti Bankasi AS (TGB), the second largest private bank in Turkey. In the first quarter of 2015, TGB posted an unconsolidated net income of TL 784.77 million (EUR 283.86 million). TGB’s total assets reached TL 231.4 billion (EUR 83.7 billion), while its contribution to the economy through cash and non-cash lending totaled TL 185.51 billion (EUR 67.1 billion). TGB serves more than 10 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services.