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The consolidated revenues of financial group Garanti Romania rose by 8 percent to EUR 106.9 million last year, sustained by gains in Garanti Bank Romania and in the non-banking lines.
The operational revenue of Garanti Bank Romania, increased by 25 percent year-on-year to EUR 81.7 million.
The lender doubled its profit before provisioning to EUR 36.6 million. However, the difficult economic conditions both locally and internationally saw Garanti add EUR 25 million in upfront provisions that lead to a loss of EUR 21.6 million on the balance sheet.
“The Group’s operations performed very well in 2012, and we took measures to ensure a healthy growth on the long term through a more prudential credit risk management. We are confident that we will tackle 2013 with great success and we seek further development in the local market”, said Ufuk Tandogan, general manager Garanti Bank Romania
The loan books added 10 percent to EUR 1 billion, with fresh demand coming from SMEs.
Turkish Turkiye Garanti Bankasi – the parent bank, has increased the share capital of its Romanian subsidiary by EUR 20 million last year, taking the full contribution to EUR 245.7 million. Ratings agency Fitch upgraded the rating of Garanti Bank Romania to BB+ with a stable outlook due to constant support from the parent.
The lender operates 240 smart ATMs across Romania and has over 7,400 of POS terminals. The number of branches remained unchanged at 78.
Garanti’s non-banking members were in the green last year. The profit consumer credit line gained 10 percent y/y to EUR 2.3 million, while the leasing almost doubled to EUR 2.3 million. Meanwhile, the mortgage loan arm added 20 percent to EUR 2.2 million. Garanti said these companies will focus on profitability this year, further developing their portfolios. The group’s assets reached EUR 1.8 billion.
The net profit of Turkiye Garanti Bankasi amounted to EUR 1.5 billion, while the assets stood at EUR 77.5 billion.
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Povezane vesti na srpskom
Συναφείς Ειδήσεις στα Ελληνικά