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August 8, 2022

Garanti BBVA Group Romania posted a net profit of over RON 166 million in 2021

Garanti BBVA Group Romania, which brings together the bank Garanti BBVA, Garanti BBVA Consumer Finance and Garanti BBVA Leasing, registered a consolidated net profit of RON 166.1 million in 2021, 55% increase over the 2020 result.

Last year, Garanti BBVA Group registered net revenues of RON 557.3 million, 4% higher than in the previous year, and an increase of 7% in its asset volume, reaching RON 13 billion.

On a stand-alone basis, the bank posted a net profit of RON 142.8 million at the end of December, a 76% increase over the 2020 result. The bank’s strategy of focusing on growing a healthy and balanced portfolio led to a loan volume of RON 7.9 billion and a deposit volume of RON 8.8 billion. Deposits grew by 6%, primarily due to the SME segment, with a significant 19% increase in 2021 versus 2020, thus reflecting companies’ confidence in the bank.

The strategic direction of Garanti BBVA Group to put clients in the center of its activities led to the constant maintenance of the customer base during 2021.

The Bank’s risk indicators are at a comfortable level, with further improvements in 2021. Garanti BBVA continues to be well capitalized, with a solid liquidity position and a low cost of risk, reflecting its sustainable business model.

2021 started with a lot of uncertainty and many question marks, without knowing exactly how things will evolve, after a difficult 2020 for the entire economy. However, in spite of the pandemic conditions, Romania had rebalancing and economic growth during the year, which was immediately reflected in the Romanians` investment appetite. Garanti BBVA remains a solid and reliable partner for all its customers, as highlighted by the results obtained. We are here to be always with our customers, especially in difficult times, and our focus this year will be on growth while maintaining a healthy and balanced portfolio”, stated Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

Garanti BBVA Romania Group is held by Garanti BBVA, the second largest private bank in Turkey. In 2021, Garanti BBVA Turkey posted a consolidated net income of TL 13.6 billion (EUR 916 million) and an asset size of TL 849.4 billion (EUR 57.2 billion), while its contribution to the economy through cash and non-cash loans totalled TL 609.7 billion (EUR 41 billion). Garanti BBVA Turkey serves over 20 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 Garanti BBVA Turkey. In 2021, BBVA Group registered a net attributable profit of EUR 4.65 billion.




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