Garanti BBVA Romania recorded net profit of 177 million RON in 2023

Garanti BBVA Romania recorded a net profit of 177 million RON in 2023 and operating revenues of 521 million RON, achieving its targets set for the previous year.

Garanti BBVA recorded a total loan volume of 9.2 billion RON in 2023, an increase of 7 percent, and deposits of approximately 12 billion RON, 15 percent higher than in 2022. The increases were driven by growth in all business segments – Corporate, Retail, and SMEs.

Loans granted by Garanti BBVA to retail customers increased by 19 percent, reaching over four billion RON, while loans to SMEs increased by 10 percent, reaching 2.4 billion RON. Similarly, deposits from individuals increased by 21 percent, to 4.4 billion RON, and SME deposits increased by 22 percent, to 3.7 billion RON.

“In 2023, Garanti BBVA continued to make significant strategic progress compared to the previous year, which was its most profitable year in Romania’s history. In short, last year, we supported our customers with a growing loan portfolio and we saw an increase in customer deposits across all segments: companies, SMEs, and retail. This indicates increased confidence in our services and underscores the bank’s role in promoting financial stability and prosperity. Moving forward, we will continue to place the customer at the center of our actions and commit to making a series of investments to improve their interactions with the bank’s products and services”, said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

In 2023, the bank’s total assets amounted to over 15.2 billion RON. Additionally, Garanti BBVA strengthened its reach and accessibility, registering a 5 percent increase in the number of clients. The issuance of debit and credit cards also saw a 6 percent increase by the end of 2023.