Garanti Group nine month profit ‘more than double’ to EUR 26 mln

The net consolidated profit of Garanti Group Romania, part of Turkey’s lender Turkiye Garanti Bankasi, more than doubled to EUR 26.3 million in the first nine months of 2013, against the same period of last, posting growth in all business segments.

The profits of Garanti Bank surged more than three fold to EUR 21.5 million and Garanti Consumer Finance posted a net profit of EUR 1.7 million. Garanti Leasing and Garanti Mortgage reported profits of EUR 2.3 million and EUR 800,000, respectively.

“The Group’s performance in 2013 represented, so far, a steady upwards and we maintain the profitability objectives for the next period, with growth resulting from all business segments – retail, SME and corporate,” said Ufuk Tandogan, CEO Garanti Group Romania.

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“ Garanti Bank’s strategy to offer short term and long-term financing in the Retail, SME and Corporate segments show the bank’s goal to contribute to the sustainable economic development and add value to all our stakeholders, placing our customers at the core of our business, and meeting them in the right place, at the right time“, added Tandogan.

Garanti Bank has a network in Romania, operating 262 smart ATMs and 7,866 POSs. Its number of cards reached 230,000.

The group, which celebrates its 15 years in Romania, offers financial services for more than 450,000 clients.

Ovidiu Posirca