Garanti BBVA reported net profit of 191 million RON, up 34 percent in 2022

Garanti BBVA, part of Garanti BBVA Group Romania, recorded a net profit of RON 191 million in 2022, 34.3 percent higher than the previous year. The bank`s net revenues climbed to RON 550 million in 2022, 20.1 percent higher.

In 2022, Garanti BBVA recorded a total volume of loans of RON 9 billion, up 14.4 percent, and deposits of RON 10.2 billion, up 15.8 percent.  The increase was supported by growth in all segments – Corporate, Retail, and SME – indicating both the confidence of businesses and individuals in the bank.

At the Garanti BBVA Romania Group level, which brings together the bank and the two non-banking financial institutions – Garanti BBVA Consumer Finance and Garanti BBVA Leasing, the net profit rose by 16.5 percent, while the net revenues increased by 15.5 percent. The Group recorded in 2022 assets worth RON 15.2 billion, +17 percent over 2021. Moreover, Garanti BBVA’s strategic direction of putting customers at the heart of its activities led to an increase in the bank’s total number of customers in 2022.

“2022 was the best year ever for Garanti BBVA, with results beyond our expectations. For this, we are grateful to our clients, shareholders, partners, and employees. As always, we remained by our clients in 2022 and helped them whenever they needed us.  The significant progress we have made in all segments, be it deposits, loans or customer portfolio, reiterate our good position in the local market. With a very good start in 2023, we maintain our long-term goal of strengthening our position while continuing to be Romanians’ reliable financial partner”, said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

In the first quarter of 2023, the bank registered an increase of 14.7 percent in loans and a 15.1 percent advance in deposits respectively, compared to the same period in 2021. The net profit climbed in Q1 to RON 72.2 million, almost double from Q1 2022.