Garanti BBVA Romania reports revenues of 654 million RON, up 28 percent in 2024

Garanti BBVA Romania registered net revenues of RON 654 million in 2024, reflecting a 28.6 percent year-on-year increase, with both loans and deposits on an upward trend.

In the mentioned period, the bank’s net interest income rose to RON 570 million, up 44.2 percent compared to 2023, driven by the growth in lending volumes across all business lines: Corporate (+14 percent), Retail (+11.4 percent), and SMEs (+24.4 percent). Consumer loans have been the fastest growing sub-segment with 33.9 percent. Consequently, the total value of loans granted rose by 15.6 percent, amounting to RON 11.1 billion, thus highlighting Garanti BBVA Romania’s commitment to supporting the needs of the individual customers and the growth of the local economy.

Deposits advanced by 10.3 percent in 2024, reaching RON 13 billion, with companies’ deposits growing by 10 percent, showcasing the trust placed in the bank by businesses, while retail deposits rose by 11 percent, underlining a solid customer savings base.

The bank’s total assets also saw a rising trajectory, reaching RON 16.8 billion, up from RON 15.3 billion in the previous year.

The bank’s net profit reached RON 133.5 million, affected by the new tax on turnover and additional expenses related with the new core banking system implementation and digital transformation project as compared with RON 187 million when adjusted with these additional expenses.

“Our strong results in 2024 reflect Garanti BBVA Romania’s customer-first approach and focus on financial consultancy. We have expanded our loan and deposit portfolios and continued to make significant investments in digital transformation, to enhance accessibility and efficiency. Achieving our goals reinforces our commitment to innovation and providing the best financial solutions for our customers”, said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

During the same period, the number of cards also followed an upward trend, registering an increase of approximately 10 percent, while the number of POS terminals rose by 11.2 percent.