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Garanti Group Romania posted a net profit of RON 38 million in the first quarter of 2019

Garanti Group Romania, one of the most dynamic financial groups on the local market, which brings together Garanti Bank, Garanti Leasing and Garanti Consumer Finance, registered a consolidated net profit of RON 38 million in the first quarter of 2019, reaching an asset size of RON 12 billion.

On solo basis, in the first three months of 2019, Garanti Bank posted a net profit of RON 31 million and net revenues of RON 99.4 million. The Group’s non-banking institutions also registered a net profit, at the end of the first quarter: Garanti Consumer Finance RON 2.2 million and Garanti Leasing RON 4.8 million.

During the first three months of this year, Garanti Bank’s overall loan volume reached RON 7.25 billion, while the deposits portfolio registered a total volume of RON 7.85 billion.

Garanti Bank continues to be significantly lower than the sector average in terms of  non-performing loans (NPL) and to register impressive results in deposits, especially on the Retail and SME segments, with a year-on-year increase of individual deposits of 61.7%, and a year-on-year SME deposits increase of 40.5%.

“We had a good start of the year 2019, in line with our business objectives. We have continued to witness a significant evolution in deposits, fact which mirrors clients’ increased interest for competitive savings products. We expect this trend to continue in the following months as well. Given the market context, overall, this year we aim to focus mainly on maintaining a healthy and balanced portfolio and maximize client satisfaction”, stated Ufuk Tandoğan, CEO of Garanti Group Romania.

Garanti Group Romania is held by Turkiye Garanti Bankasi AS (TGB), the second largest private bank in Turkey. In the first quarter of 2019, TGB posted a consolidated net income of TL 1.76 billion (EUR 278.71 million) and an asset size of TL 423.32 billion (EUR 67.16 billion), while its contribution to the economy through cash and non-cash lending totaled TL 323.22 billion (EUR 51.28 billion). TGB serves to over 16 million customers in corporate, commercial, SME, and consumer segments, offering fully integrated financial services.

Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) is the majority shareholder of TGB. In the first quarter of 2019, BBVA registered a net attributable profit of EUR 1.16 billion.

 

About Garanti Group Romania

 

Garanti Group Romania is composed of Garanti Bank, Garanti Leasing (the brand under which Motoractive IFN SA operates) and Garanti Consumer Finance (the brand under which Ralfi IFN SA operates). The two non-banking financial institutions complete Garanti Bank’s offer with specific leasing products, fleet management services, and consumer loans. Garanti Group provides financial services on the local market to more than 500,000 customers.

Garanti Bank Romania offers a range of quality products and services for all business segments: retail, SME and corporate, and is one of the most dynamic and innovative banks in the local market. Present in Romania since 1998, the bank has developed a solid portfolio of clients and has expanded its national presence through branch offices and alternative channels, reaching an extensive network of smart ATMs that can be used by anyone, not just bank customers, for transactions with or without a card.

In 2018, Garanti Bank was nominated as Superbrand, emerging from a list of over 1,500 brands analyzed by Superbrands Romania. Moreover, Garanti Bank was awarded by the prestigious Global Finance magazine for “Best Consumer Digital Bank in Romania” at the 2018 World’s Best Consumer Digital Banks event, being the 11th prize that Garanti Bank received in the past ten years.

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