Garanti Bank reports EUR 2.4 mln profit in Q1 of 2011

Newsroom 11/05/2011 | 17:34

Garanti Bank, present on the local market for over 12 years, registered a profit of 2.4 million Euro (according to IFRS standards) in the first three months of 2011, while continuing its steady growth of the last four years.

Garanti Bank reached 1.5 billion Euros in assets at the end of March 2011. The bank’s loan portfolio rose to 835 million Euro, while deposits reached 470 million Euros during the same period. The number of debit and credit cards exceeded 200,000.

Highlighting that Garanti Bank will continue its expansion on the local market, Murat Atay, general manager of Garanti Group states: “We remain committed to the Romanian operations and will continue to invest in our local development. Such investments will be mainly directed towards local expansion, as well as the IT infrastructure needed for bringing to the local market very successful products and services launched by our mother bank in Turkey”.

Aside from Garanti Bank, Garanti Group now reunites Garanti Leasing, Garanti Credite de Consum and Garanti Credite Ipotecare, which carry on their operations on the local market under Garanti’s umbrella. They complete Garanti Bank’s range of products and services with specific leasing products (financial leasing – cars, equipments and real estate – and sales & leaseback) and fleet management services, consumer finance products such as sales finance and personal loan, as well as dedicated mortgage products for house or land acquisition or for refinancing purposes.

Garanti Bank operates in Romania as a local universal bank with a complete range of qualitative products and innovative services for all business segments – retail, SME and corporate. Present on the Romanian market since 1998, Garanti Bank developed a solid customer portfolio, currently serving more than 200,000 customers, through a network of 75 agencies, 170 ATMs and more than 7,000 POSs.