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Garanti Bank increased its share capital by EUR 22.3 million

Bucharest, July 4th, 2016 – Garanti Bank, one of the most innovative and dynamic banks on the local market, received approval from the National Bank of Romania and the other accredited authorities to increase its share capital by EUR 22.3 million. The capital injection targets to support and finance the bank’s organic growth on the local market.

Garanti Bank is currently the 10th institution in the local banking system, with a total asset volume exceeding RON 8.5 billion.

“Garanti Bank has a long term commitment on the local market and we aim to further grow, in order to best service our existing and potential customers, and bring our contribution to the development of the local economy. Increasing our share capital proves and reiterates this commitment”, stated Ufuk Tandogan, CEO Garanti Bank.

About Garanti Bank Romania

Garanti Bank is part of the financial-banking group Garanti Romania, which brings together Garanti Leasing (the brand under which the company Motoractive IFN SA operates) and Garanti Consumer Finance (the brand under which Ralfi IFN operates).

Garanti Bank is held by Turkiye Garanti Bankasi AS (TGB), Turkey’s second largest private bank with consolidated assets of US$ 103.1 billion as of March 31, 2016. TGB is a universal bank with leading presence in all business lines. The bank serves more than 14 million customers in corporate, commercial, SME, and consumer segments offering fully integrated financial services. In July last year, Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) gained majority management control of TGB.

Garanti Bank Romania offers a series of quality products and services for all business segments: retail, SME and corporat,. Present in Romania since 1998, the bank has developed a solid portfolio of clients and expanded its national presence through branches and alternative channels, reaching an extended network of 84 branches and over 300 intelligent ATMs that can be used by anyone, not just bank customers, for transactions with or without cards.

Garanti Bank was awarded in 2015 by world-renowned magazine Global Finance, as “Best Consumer Digital Bank in Romania” and “Best Integrated Consumer Bank Site in Central and Eastern Europe Region”. The distinctions were granted within the “2015 World’s Best Consumer Digital Banks in Central and Eastern Europe Competition”.

In May this year, International Rating agency Fitch Ratings affirmed the long-term IDRs of Garanti Bank Romania (GBR). The bank’s long term IDR was affirmed at ‘BBB-‘ (outlook stable), its short term IDR at ‘F3’, its Support Rating at ‘2’, while its Viability Rating was also affirmed at ‘b+’. Fitch emphasized that GBR remains a strategically important subsidiary of its parent bank.

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