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October 24, 2021
BUSINESS

Garanti Romania’s profit doubled in first semester

The Garanti Romania Group has reported a consolidated net profit in first semester of EUR 19.8 million, which exceeds the value reported for the same period last year, and total assets have slightly dropped compared to the end of last year from EUR 1.8 billion to EUR 1.75 billion, Mediafax notes. The Group’s consolidated net incomes have gone up to EUR 64.8 million, a press release issued by Garanti Romania shows. All the Group’s entities have reported profit in the first half of the year. Thus, Garanti Bank had a net profit of EUR 17.1 million, four times higher than in the January-June 2012 interval, while Garanti Leasing reported EUR 1.3 million, Garanti Credite de Consum (Consumer Loans) – EUR 0.9 million and Garanti Credite Ipotecare (Mortgage Loans) – EUR 0.5 million. “Our forecast for the second half of the year is cautious, but we wish to maintain profitability objectives for Garanti Romania”, CEO of Garanti Romania, Ufuk Tandogan stated in the press release.Garanti Bank has a network of 78 agencies, over 250 ATMs and 7.650 points of sale. The Garanti Group is owned by Turkyie Garanti Bankasi that reported a consolidated net profit of 2.2 billion Turkish liras (the equivalent of EUR 769 million) in the first semester and total assets of 197.4 billion Turkish liras (EUR 80 billion).

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