Garanti Group Romania, one of the most innovative and dynamic financial groups on the local market, has reached a total net profit of RON 98.5 million, in the first nine months of 2015, increasing by 8% as compared to the same period in 2014, said the bank in a statement.
The Group also registered RON 429 million net revenues, while the total assets volume size grew by 10% and amounting to RON 9.50 billion.
Garanti Bank registered a net profit of RON 70 million at the end of September and a net revenue of RON 347.9 million. The Group’s non-banking institutions also showed a net profit at the end of the third quarter: Garanti Consumer Finance RON 20.7 million and Garanti Leasing RON 7.8 million.
Garanti Bank’s overall loans volume reached, in the first nine months of the year, a total of RON 6.3 billion, a 23% increase year-on-year.
“2015 has been a dynamic year for us. Lending has grown progressively from quarter to quarter and we expect to show sustainable growth until the end of the year. 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, CEO Garanti Group Romania.
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Compared to the first nine months of 2014, SME lending grew by 6.6%, corporate lending by 19.6% and retail lending by 37%.
Furthermore, customer deposits registered a 25.3% growth, amounting to a total of RON 4.53 billion.
Garanti Group is held by Turkiye Garanti Bankasi AS (TGB), the largest private bank in Turkey in terms of market capitalization. In the first nine months of 2015, Garanti Bank posted a consolidated net income of TL 2.72 billion (EUR 810.5 million), while asset size reached TL 293.25 billion (EUR 87.4 billion).
At the same time, contribution to the economy through cash and non-cash lending totaled TL 223.25 billion (EUR 66.5 billion). The bank serves more than 10 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services.
About Garanti Group Romania
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 held by Turkiye Garanti Bankasi AS (TGB), a universal bank with leading presence in all business lines. TGB is the largest private bank in Turkey in terms of market capitalization and serves more than 10 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services.
Garanti Bank Romania 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 has developed a solid portfolio of clients and expanded its national presence through branches and alternative channels, reaching an extended network of 84 branches and over 300 intelligent ATMs that can be used by anyone, not just bank customers, for transactions with or without cards.
At the end of July this year, International Rating agency Fitch Ratings upgraded the ratings of Garanti Bank Romania. The bank’s long term IDR was upgraded to ‘BBB-‘, from ‘BB+’ (Outlook stable). Fitch emphasized that GBR, one of the few banks In Romania having investment grade rating, remains a strategically important subsidiary of its parent bank.
