Garanti Romania posts EUR 39.3 mln revenues in Q1, up 14.9 pct

Garanti Group Romania registered EUR 39.3 million net revenues in the first quarter of 2015, a 14.9 percent increase over the same period last year, the company said on Thursday. The Group’s net profit reached EUR 6.9 million, whilst its total assets reached EUR 2.1 billion.

Garanti Bank registered net revenues of EUR 33.2 million at the end of March, a 17.6 percent rise year-on-year, as well as a net profit of EUR 4.9 million. The Group’s non-banking institutions also showed a net profit, at the end of the first quarter: Garanti Consumer Finance EUR 1.3 million and Garanti Leasing EUR 0.6 million.

During the first three months, Garanti Bank’s overall loan volume reached EUR 1.36 billion, representing a 19.6 percent increase year-on-year. Compared to Q1 in 2014, SME lending grew by 12.5 percent, corporate lending by 8.5 percent and retail lending by 34 percent.

Furthermore, customer deposits registered a 61 percent growth in volume year-on-year.

Garanti Group Romania is owned by Turkiye Garanti Bankasi AS (TGB), the second largest private bank in Turkey.

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