RON 75 M net profit for Garanti Group Romania in H1

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Turkey’s Garanti Group registered a net profit of RON 75 million in the first semester on the local market. Furthermore, according to a press release, the group’s consolidated net revenues amounted to RON 287.3 million, in the first six months, while its total assets reached RON 9.76 billion.

“The first half of the year was very good for Garanti Group Romania. Lending and customer deposits are registering remarkable evolutions. The second quarter has played an important role in our overall results and we expect the rest of the year to be exponentially more dynamic. We will continue our strategy of satisfying our clients’ needs with the help of innovative financial services, a trusted online banking platform, a wide network of smart ATMs, and a highly qualified team”, stated Ufuk Tandogan (photo), CEO Garanti Group Romania.

Garanti Bank registered a RON 55 million net profit at the end of June, the results in the second quarter playing a significant role in this respect. As such, the bank’s net profit reached RON 33.3 million in Q2, a 53.5 percent increase quarter-on-quarter.

During the first six months, Garanti Bank’s overall loan volume reached RON 6.27 billion, representing a 27.8 percent increase year-on-year. Moreover, customer deposits registered a 43 percent growth in volume year-on-year, to RON 4.53 billion.

Group’s non-banking institutions also registered net profit, at the end of the first semester: Garanti Consumer Finance – RON 14.2 million and Garanti Leasing – RON 5.7 million.


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