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Garanti BBVA achieves strong growth across all business lines in H1 2024

Bucharest, August 5th – Garanti BBVA Romania reports solid results for the first six months of 2024, with growth across all business segments. The bank’s net revenues from January to June increased by 30.6%, reaching RON 319.6 million compared to RON 244.7 million in the same period last year, with both loans and deposits also on an upward trend.

In the mentioned period, the bank’s net interest income reached RON 282.1 million, driven by the growth in lending volumes across all business lines: Corporate (+11%), Retail (+5.9%), and SMEs (+9.1%). Consequently, the total value of loans granted rose by 8.4%, amounting to RON 10.6 billion.

At the same time, Garanti BBVA’s total customer deposits grew to RON 12 billion, with the largest increases seen in the Retail and SME business lines, which recorded advances of over 12%.

After the first half of 2024, the bank’s net profit exceeded RON 78.2 million. Garanti BBVA’s total assets reached 15.87 billion lei, underscoring the bank’s strong market position and ability to generate added value for its customers.

“In the first half of 2024, Garanti BBVA continued to achieve remarkable performance, in line with the results of recent years, reflecting our commitment to clients and our strategy of sustainable development. The growth across all business segments and the expansion of our customer base underline the trust our clients have in us. We will continue to stay close to our customers, investing in technology and innovation, to provide high-quality services and improve their experience,” said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

Garanti BBVA’s total customer portfolio increased by 6.4% in the first six months of the year, and the number of cards also followed an upward trend, registering an increase of approximately 10%. During the same period, the number of POS terminals rose by 7.1%, reaching 16,590, reflecting the bank’s ongoing efforts to enhance accessibility and convenience for customers.

In April, the Bank launched the state-of-the-art GIA chatbot, designed to enhance customer experience and simplify support services, providing answers to frequently asked questions and assistance for complex needs. Customers can engage with the virtual assistant by visiting the bank’s website.

At the end of June, Garanti BBVA launched an online lending process, facilitating quick access for existing clients to personal loans and Bonus Cards, directly through the bank’s Mobile Banking app. In order to promote this new initiative, Garanti BBVA is currently running a media campaign, under the slogan “Unpause your plans”, aiming to inform clients about the benefits offered through the Mobile Banking app and encourage them to take advantage of this new feature.

 

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About Garanti BBVA

Garanti BBVA is part of the Garanti BBVA Romania Group, along with Garanti BBVA Leasing, Garanti BBVA Consumer Finance, and Garanti BBVA Fleet Management, which complement the bank’s offering with specific leasing products, fleet management services, and consumer loans. In 2023, the bank celebrated 25 years of active presence in the Romanian banking system.

Garanti BBVA Romania is owned by Garanti BBVA, the second-largest private bank in Türkiye per consolidated asset size. The Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA) is the majority shareholder of Garanti BBVA.

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