Garanti Romania registered 9.9 million euro net profit in the first quarter of 2013

Garanti Romania, one of the most dynamic and innovative financial groups on the local market, saw consolidated net profit of 9.9 million euro in the first quarter of 2013, an almost 70% rise from the same period last year. Also, the Group's consolidated revenues hiked to 45.4 million euro, a 62% increase from the first quarter of 2012.  

The positive results were based on increased attention for portfolios in the entire group, as well as on the strategy to adapt products and services to the clients' needs in the new market conditions. 

All four companies within Garanti Group Romania registered profit in the first three months of the year: Garanti Bank - 8.4 million euro net profit, more than double from the same period last year, Garanti Credite de Consum - 0.4 million euro, Garanti Leasing - 0.7 million euro, Garanti Credite Ipotecare - 0.4 million euro net profit. The Group's total assets stood at 1.69 billion euro at the end of March 2013. 

"Garanti Group continues its strategy in the Romanian banking market, with a strong emphasis on adapting offers to local consumers' needs. It is very important for us, in the current market conditions, to have a prompt reaction and to thoroughly know the clients' consumption habits, in order to come with competitive services and products, on all distribution channels: in the agencies, through internet banking, ATMs and mobile phone”, says Ufuk Tandogan, CEO Garanti Group Romania.

 "We will continue our organic growth based on the careful risk management, in order to have a healthy long-term growth. We also enjoy the security offered by our shareholder, Turkiye Garanti Bankasi, which has impressive funds and know-how at a time when Turkey's economy is growing”, Ufuk Tandogan adds.

Currently, Garanti Bank has national-wide presence through 78 agencies and alternative service channels. The number of BancoSmart ATMs hiked to 246, being the widest national network of intelligent ATMs, while the number of POS exceeded 7,500.

In the first three months of 2013, Turkiye Garanti Bankasi, the shareholder of Garanti Group Romania, registered consolidated net profit of 1.18 billion Turkish Lira (the equivalent of 516 million euro) and total assets o 185.8 billion Turkish Lira (the equivalent of 81.2 billion euro).

About Garanti Group

Garanti Group consists of Garanti Bank, Garanti Leasing, Garanti Credite de Consum and Garanti Credite Ipotecare. The three NBFI complete Garanti Bank's offer with specific leasing products (financial leasing - vehicles, equipments, real estate - sale & lease-back) and fleet administration services, consumer credit as well as mortgage loans for real estate and land or for refinancing other loans. Garanti Group offers financial services on the local market to more than 450,000 clients.

Garanti Group is owned by Garanti Bank Turkey (TGB), Turkey's second largest private bank by asset size. As a universal bank with leading presence in all business lines, TGB serves to more than 10 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services.