Garanti Bank Romania revenues up 8.6 percent in first semester

Garanti Bank Romania posted net revenues of EUR 57.7 million for the first six months of 2014, up 8.6 percent compared to last year, according to a statement from Garanti Group. Net profit was EUR 13.9 million, 19 percent lower compared to the first semester of 2013 (EUR 17.1 million), according to economica.net.

Compared to H1 2013, the number of clients is up 11.9 percent, the total volume of credits on all segments has reached EUR 1.47 billion (up 8.8 percent) and the volume of deposits also increased by 45.3 percent.

Garanti Bank is the most important component of Garanti Group Romania. The group had consolidated net revenues of EUR 70.2 million in the first semester, 8.4 percent higher compared to the same period last year, and a consolidated net profit of EUR 16.9 million, down 15 percent. The group recorded total assets of EUR 2.02 billion after the first semester, a 14.7 percent increase compared to 2013.

The nonbanking financial institutions which are part of the Garanti Group also registered net profits as it follows:

– Garanti Consumer Finance – a net profit of EUR 1.3 million, registering a 36.7 percent growth;

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– Garanti Leasing- profit of EUR 1.34 million (+0.8 percent);

– Garanti Mortgage – profit of EUR 400.000.