GE Garanti Bank, the new credit institution authorized by the National Bank of Romania (BNR), will become operational at the end of May, the lender’s representatives have announced.
Garanti Turkey is the main shareholder with 70 percent of the stake, with the other 30 percent belonging to General Electric Capital Corporation. According to the BNR’s authorization, GE Garanti Bank will take over all the operations of the Romanian branch of GarantiBank International NV.
“We intend to repeat the increase posted in 2009 this year, when we will continue to develop, aiming for an increase of 50 percent in our assets and a 40 percent rise of the volume of credits and deposits. By the end of 2011 we will also double our territorial network to 100 units. Besides that, we intend to significantly develop all of our portfolios,” said Murat Atay, general manager of GarantiBank.