Garanti BBVA Romania reports net revenues of 319.6 million RON, up 30.6 percent in first half of 2024

Garanti BBVA Romania reports solid results for the first six months of 2024, with growth across all business segments. The bank’s net revenues from January to June increased by 30.6 percent, reaching RON 319.6 million compared to RON 244.7 million in the same period last year, with both loans and deposits also on an upward trend.

In the mentioned period, the bank’s net interest income reached RON 282.1 million, driven by the growth in lending volumes across all business lines: Corporate (+11 percent), Retail (+5.9 percent), and SMEs (+9.1 percent). Consequently, the total value of loans granted rose by 8.4 percent, amounting to RON 10.6 billion.

At the same time, Garanti BBVA’s total customer deposits grew to RON 12 billion, with the largest increases seen in the Retail and SME business lines, which recorded advances of over 12 percent.

After the first half of 2024, the bank’s net profit exceeded RON 78.2 million. Garanti BBVA’s total assets reached 15.87 billion RON.

“In the first half of 2024, Garanti BBVA continued to achieve remarkable performance, in line with the results of recent years, reflecting our commitment to clients and our strategy of sustainable development. The growth across all business segments and the expansion of our customer base underline the trust our clients have in us. We will continue to stay close to our customers, investing in technology and innovation, to provide high-quality services and improve their experience,” said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

Garanti BBVA’s total customer portfolio increased by 6.4 percent in the first six months of the year, and the number of cards also followed an upward trend, registering an increase of approximately 10 percent. During the same period, the number of POS terminals rose by 7.1 percent, reaching 16,590.