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November 20, 2019
BUSINESS

Garanti Group continues its growth in the Romanian market

Garanti Group Romania, one of the most dynamic and innovative financial groups in the local market, registered RON 631.5 million revenues in 2014, an 18.8% increase as compared to the previous year. The Group’s consolidated net profit reached RON 34.4 million at the end of 2014, whilst its total assets reached RON 9 billion, a 5% increase year on year.

Garanti Bank registered a 26.3% increase in revenues at the end of 2014 as compared to 2013, to RON 539.2 million. At the same time, the bank’s net profit reached RON 9.4 million, having absorbed the impact of prudential requirements associated with the banking system in 2014, still remaining profitable.

At their turn, the Group’s non-banking institutions registered net profit last year: Garanti Consumer Finance – RON 13.9 million and Garanti Leasing – RON 11.1 million.

“Garanti Group continued its growth in 2014, in a challenging economic environment. We will continue to do so, by  constant progress of seeking the best services for our clients, via a growing network of agencies, a trusted online platform, a wide network of smart ATMs and of course our highly qualified staff ”, stated Ufuk Tandoğan, CEO Garanti Group Romania (photo).

During 2014, Garanti Bank’s overall loan volume reached RON 5.83 billion, registering a 19.8% increase year on year. The SME segment grew by 17.1% compared to the previous year, while the corporate segment increased by 7.8% in the same period. The retail segment also increased, by 31.4%, following the merger with Garanti Mortgage. Customer deposits registered a 66% growth in volume.

In 2014, Garanti Bank opened six new branches – four in Bucharest, one in Cluj Napoca and one in Timisoara –, reaching 84 nationwide, and widened its smart ATM network, currently having over 300 Bancosmart units across the country. Furthermore, last year, the bank issued a corporate bond offer of RON 300 million, on the Bucharest Stock Exchange, with a five year maturity.

 

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