BUSINESS

Garanti Bank posts profit of EUR 2.4 bln

Garanti Bank posted a profit of EUR 2.4 bln for the first quarter of 2011, thus continuing its constant growth of the last four years, reads a press release. Furthermore, the bank assets reached EUR 1.5 bln at the end of March 2011. The portfolio of loans provided by the bank jumped to EUR 835 M, while deposits reached EUR 470 M over the same interval. The number of debit and credit cards exceeded 200,000. “We are dedicated to our operations in Romania and will continue to invest in local development projects. These investments will mainly aim at expanding the bank’s network and the IT infrastructure needed in order to bring to Romania some of the most successful products and services launched by the mother-bank in Turkey,” said Murat Atay, CEO of the Garanti Group.

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