BUSINESS

Garanti Group Romania registered EUR 39.3 million revenues in Q1

Garanti Group Romania, one of the most dynamic and innovative financial Groups on the local market, 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, CEO Garanti Group Romania.

Garanti Group Romania is owned by Turkiye Garanti Bankasi AS (TGB), the second largest private bank in Turkey.

 

 

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