Garanti Group Romania posted a net profit of over 140 million RON in 2018

Garanti Group Romania registered a consolidated net profit of 140.3 million RON in 2018, reaching an asset size of 11.79 billion RON.

On solo basis, Garanti Bank posted a net profit of 113.3 million RON. The bank’s business strategy of focusing on organic development led to a loan volume of 7.13 billion RON and an increase of almost four percent in its deposits volume to 7.97 billion RON. Deposits grew primarily due to the Retail and SME segments, with a significant 60 percent increase in the individual deposits and 40 percent in SME deposits, signaling an enhanced savings behaviour of the clients.

“2018 was another profitable year for all Garanti institutions, as we have consolidated our position in the market in a healthy and balanced manner. Our mission for 2019 is to maintain our momentum, to focus on calibrating our strategy according to our customers’ needs, in order to continue to be a solid, responsible and trust-worthy financial partner. We will continue to have a long term commitment to the Romanian market and we target to bring further added value to the industry, and the local economy as a whole”, 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. Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) is the majority shareholder of TGB. In 2018, BBVA registered a net attributable profit of 5.32 billion Euro.