Garanti BBVA Romania: improving the digital banking experience

This year, Garanti BBVA Romania celebrated 25 years of operations on the local market. CEO Mustafa Tiftikcioglu talked to Business Review about the bank’s main strategic pillars in Romania as well as the projects and initiatives that contributed to a successful 2023.

By Anda Sebesi

What were the biggest challenges Garanti BBVA faced in 2023?

As we reflect on the journey of 2023, it brings me great satisfaction to report a notable upturn in both the performance of Garanti BBVA and the overall economic landscape, especially compared to the challenges we’ve faced in previous years. Our strategic initiatives and resilience in the face of adversity have fortified our financial standing and contributed to a positive ripple effect in the broader economy. If I were to think of a challenge, I would say that this year it has been challenging to navigate the volatile economic landscape marked by inflation and economic uncertainty. These factors understandably instilled caution in the population, leading people to be more hesitant about taking out loans and making financial commitments.

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What were the most important projects the company carried out in 2023?

2023 was one of the most important years so far for us on the Romanian market, because we celebrated 25 years of activity. We focused on strengthening our relationship with our customers, on showing our gratitude for our loyal teams, and on consolidating growth. Improving the digital banking experience for our customers remained one of our key objectives this year. We also came up with customer-oriented campaigns to provide enticing offers, and we forged strategic partnerships with international institutions like the European Investment Bank to facilitate broader access to credit for individuals and businesses. These projects underscore our commitment to innovation, customer satisfaction, and fostering financial inclusion.

What is the current state of the banking industry and what changes should we expect to see in the coming years?

Today, I see the banking industry in Romania as a mature and robust system that prioritises consumer needs, embraces digitalization, and champions sustainable investments. Looking ahead, we anticipate further advancements in digital services, increased emphasis on sustainable finance, and a continued commitment to customer-centric innovation. The next few years will be built on the foundation of a resilient and adaptable banking sector that caters to evolving consumer expectations and contributes to a sustainable financial future.

How important are ESG and sustainability criteria for Garanti BBVA and the industry in general?

Responsible banking is not just a moral obligation, but also a prudent business strategy. Consequently, we are allocating significant resources to foster sustainable banking practices, such as green financing options, and minimising our environmental impact. Garanti BBVA named sustainability as one of its five strategic priorities years ago, in line with its stated role as a major contributor to economic and socially inclusive development that does not harm the environment. In addition, we place ESG factors at the heart of our organisation’s growth strategy. As a bank, we are a financier of a green economy, but we also share our knowledge, encourage cooperation with external stakeholders, and use our influence in society to raise awareness and achieve results in sustainable development.

How does it feel to have been working in the same bank for 25 years?

Indeed, my journey with the Garanti BBVA Group began more than 20 years ago, and I can say that it was one of the most important decisions I’ve made in my entire career. Here I have had the opportunity to meet great professionals, to learn from them, to advance, and to achieve most of my professional goals. And finally, I was able to come to a beautiful country like Romania, undertake the challenge and responsibility of managing Garanti BBVA Romania, and discover the wonderful people and culture here. Furthermore, I think that the evolution comes precisely from working with people, colleagues, partners or clients and from the desire to collaborate effectively and have good results together. I think that we all need to learn and develop constantly, to keep up with the changes that appear in the behaviour and choices of those around us, in order to work productively and reach common goals.