Garanti Group Romania tripled its net profit in 2015, ranking the 10th in the system

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In 2015, Turkish Garanti Group has reached a total net profit of RON 100.4 million in Romania, three times higher than the previous year, a press release informs. The Group also registered RON 535.4 million net revenues, while the total assets volume size grew by 16.1 percent, amounting RON 10.55 billion.

“2015 has been a good year for all Garanti Group’s institutions, especially the bank. The deposits volume has shown a significant increase, confirming our clients’ trust in our products and services. We aim to continue the upward evolution in 2016 as well, on all business lines, developing a well-balanced portfolio, in order to best satisfy our customers’ needs”, stated Ufuk Tandoğan, CEO Garanti Group Romania.

The increase was mainly generated by Garanti Bank’s increase in net profit, which at the end of 2015 reached RON 65.3 million.

Moreover, the bank’s deposits reached a total of RON 5.73 billion, a 40 percent increase year-on-year, while the overall loans volume reached a total of RON 6.74 billion in 2015, a 15.7 percent increase as compared to 2014. Corporate loans registered the biggest increse, of 28 percent, while SME lending rose by 8.6 percent and retail lending by 10.8 percent.

Furthermore, Garanti Bank increased its market share and is currently the 10th bank in the system.

Garanti Group’s non-banking institutions also registered profit in 2015: Garanti Consumer Finance – RON 24.1 million and Garanti Leasing – RON 11 million.

At group level, the financial institution announced a consolidated net income of TL 3.61 billion (EUR 1.15 billion) last year, while asset size reached TL 279.65 billion (EUR 88.53 billion).

 

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