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Garanti Group sees highest profit ever in Romania


Garanti Group Romania, which is part of Turkish group Garanti, recorded a consolidated net profit of EUR 31.4 million in 2017, its best result since operating on the local market, romania-insider.com reads.

The group’s consolidated net revenues reached EUR 136 million and the total assets went up by 13%, to EUR 2.48 billion.

“2017 was our best year in Romania and we have a long-term strategy of being a trustworthy financial partner to our clients, across all business lines, and to maintain our profitability in a sustainable manner,” said Ufuk Tando?an, CEO Garanti Group Romania.

“We are a bank of systemic importance and we aim to continue to consolidate our position,” he added.

Garanti Bank, the group’s biggest entity, reached a net profit of EUR 24 million, as its loan portfolio advanced by 8.1% and its deposit base increased by 22.8%.

The group also includes two non-banking financial institutions, namely Garanti Consumer Finance and Garanti Leasing.