It also reported a 4.5% growth in the total assets volume, which currently exceeds RON12.1 billion.
It said consolidated net revenues amounted to RON263.2 million in the first six months of 2019.
Garanti Bank reported a net profit of RON77.6 million in January-June 2019, up over 20% from the same period a year before.
The bank’s strategy to develop a healthy and balanced portfolio generated a total loan volume of RON7.19 billion and a nearly 5% year-over-year increase in the volume of deposits which reached RON8.19 billion at the end of June 2019. Deposits continued the early-year upward trend and the evolution is still upheld mostly by the Retail and SMEs (small and medium-sized enterprises) segments. Compared with the same period in 2018, deposits of natural persons surged 61% and those of SMEs grew nearly 38%.
The Group’s two non-banking financial institutions, Garanti Leasing and Garanti Credite de Consum, engrossed in leasing and consumer lending activities, reported a combined net profit of RON20.3 million in the first half of 2019.
Garanti Group Romania is held by Garanti BBVA, the second largest private bank in Turkey. Garanti BBVA serves more than 17 million customers in the corporate, commercial, SMEs and retail sectors, to whom it provides integrated financial services.
Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) is a majority shareholder in Garanti BBVA.