Garanti BBVA Group Romania posted net profit of over 166 million RON, up by 55 percent 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 166.1 million RON in 2021, 55 percent increase over the 2020 result.

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

On a stand-alone basis, the bank posted a net profit of 142.8 million RON at the end of December, a 76 percent increase over the 2020 result. Deposits grew by 6 percent, primarily due to the SME segment, with a significant 19 percent increase in 2021 versus 2020.

“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.