For 2012, the group estimates the consolidated net profit will grow by 50% to over EUR12 million.
Garanti Group Romania, a subsidiary of Turkey’s second largest bank Garanti Bankasi, operates four companies on the local market, namely Garanti Bank, Garanti Credite Ipotecare, Garanti Credite de Consum and Garanti Leasing.
Broken by units, Garanti Bank reported net profit of EUR3.1 million in 2011, while Garanti Credite Ipotecare and Garanti Credite de Consum of EUR2 million and EUR1.7 million, respectively.
Garanti Leasing’s net profit stood at EUR1.5 million in 2011.
End-December, Garanti Bank had assets worth EUR1.45 billion. The bank provided total loans worth EUR936 million in 2011, up 19% on the year, while overall loans reached EUR467 million.
Garanti Bank runs 77 branches nationwide and has 194 ATMs and 7,340 POS units.