Garanti Bank increased its share capital by EUR 22.3 mln

Garanti Bank, one of the dynamic banks on the local market, increased its share capital by EUR 22.3 million. The capital injection aims to support and finance the bank’s organic growth on the local market.

Garanti Bank is currently the 10th institution in the local banking system, with a total asset volume exceeding RON 8.5 billion.

“Garanti Bank has a long term commitment on the local market and we aim to further grow, in order to best service our existing and potential customers, and bring our contribution to the development of the local economy. Increasing our share capital proves and reiterates this commitment”, said Ufuk Tandogan, CEO Garanti Bank.

Garanti Bank is part of the financial-banking group Garanti Romania, which brings together Garanti Leasing (the brand under which the company Motoractive IFN SA operates) and Garanti Consumer Finance (the brand under which Ralfi IFN operates).

Garanti Bank is held by Turkiye Garanti Bankasi AS (TGB), Turkey’s second largest private bank with consolidated assets of EUR 90.44 billion as of March 31. TGB is a universal bank with leading presence in all business lines. The bank serves more than 14 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services. In July last year, Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) gained majority management control of TGB.

Garanti Bank Romania offers a series of products and services for several business segments: retail, SME and corporate. Present in Romania since 1998, the bank has developed a solid portfolio of clients and expanded its national presence through branches and alternative channels.

Georgiana Bendre