Garanti Group Romania, one of the most dynamic and innovative financial groups on the local market, registered in 2013 a consolidated net profit of EUR 27 million. The Group’s net revenues increased to EUR 118.6 million, an 11% growth compared to 2012. Last year, its total assets reached EUR 1.93 billion, a 7.3% increase year on year.
All four companies within Garanti Group continued their steady development and registered profitability, despite the challenging economic conditions. Garanti Bank’s net profit was EUR 20.7 million in 2013, while the non-banking institutions registered a net profit of: Garanti Consumer Finance - EUR 2.7 mil., Garanti Leasing - EUR 3 mil. and Garanti Mortgage - EUR 0.6 million.
“We started the year 2013 with a well-planned growth strategy and we are pleased with the fact that our efforts to maintain a positive evolution on the local market translated into strong financial results. We are above the market average in all segments SME, retail and corporate, loans and deposits, and have a very healthy client portfolio.
We will continue our prudential growth strategy, focusing on supporting customers across all segments by offering them short and long-term lending, thus contributing to the sustainable development of the local economic environment”, stated Ufuk Tandogan, CEO Garanti Group Romania.
During 2013, Garanti Bank’s overall loan volume reached EUR 1.09 billion, registering a 5.4% increase year on year. The SME segment had the highest growth, with 17% compared to last year, while the retail segment maintains the highest volume in the bank’s loan portfolio. Meanwhile, customer deposits increased by 42.3% in volume. Currently, Garanti Bank has a nationwide presence through 78 agencies and more than 280 smart ATMs, a 25% growth compared to 2012, while the number of POSs surpassed 8,000, a 10% increase year on year.
The bank’s performance on the local market, as well as the strong commitment and support received from the parent-bank, Turkiye Garanti Bankasi AS (TGB), determined Fitch Ratings to reconfirm Garanti Bank’s “BBB-“ long-term rating, with a stable outlook in 2013.
TGB is the most profitable and the second largest private bank in Turkey, in terms of assets. In addition, it is among the top 20 strongest banks in the world, according to Bloomberg’s rankings. Thus, Garanti Bank benefits from the extensive know-how of a very successful parent-bank.
In 2013, Turkiye Garanti Bankasi AS posted an unconsolidated net income of TL 3.01 billion (EUR 1.2 billion). Garanti’s total assets reached TL 196.89 billion (EUR 67.4 billion), while its contribution to the economy through cash and non-cash lending totaled TL 151.81 billion (EUR 52 billion)..
