COMPANIES ECONOMY FINANCE&BANKING

Garanti Group Romania registered RON 75 million net profit in H 1 2015

Garanti Group Romania, one of the most dynamic and innovative financial Groups on the local market, registered RON 75 million net profit in the first semester. Furthermore, the Group’s consolidated net revenues amounted to RON 287.3 million, in the first six months, while its total assets reached RON 9.76 billion.

Garanti Bank registered a RON 55 million net profit at the end of June, the results in the second quarter playing a significant role in this respect. As such, the Bank’s net profit reached RON 33.3 million in Q2, a 53.5% increase quarter-on-quarter.

During the first six months, Garanti Bank’s overall loan volume reached RON 6.27 billion, representing a 27.8% increase year-on-year. Moreover, customer deposits registered a 43% growth in volume year-on-year, to RON 4.53 billion.

The Group’s non-banking institutions also registered net profit, at the end of the first semester: Garanti Consumer Finance RON 14.2 million and Garanti Leasing RON 5.7 million.

“The first half of the year was very good for Garanti Group Romania. Lending and customer deposits are registering remarkable evolutions. The second quarter has played an important role in our overall results and we expect the rest of the year to be exponentially more dynamic. We will continue our strategy of satisfying our clients’ needs with the help of innovative financial services, a trusted online banking platform, a wide network of smart ATMs, and a highly qualified team”, stated Ufuk Tandogan, CEO Garanti Group Romania.

Garanti Group Romania is owned by Turkiye Garanti Bankasi AS (TGB), the largest private bank in Turkey in terms of market capitalization. In the first semester of 2015, TGB posted a consolidated net income of TL 2.1 billion (EUR 697.93 million). TGB’s total consolidated assets size reached TL 265.2 billion (EUR 89.64 million), while its contribution to the economy through cash and non-cash lending totaled TL 203.3 billion (EUR 68.71 billion). TGB serves more than 10 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services.

 

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