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Garanti BBVA reports solid start in 2023, following best annual results so far in 2022

Bucharest, June 20, 2023 – Garanti BBVA, part of Garanti BBVA Group Romania, recorded a net profit of RON 191 million in 2022, 34.3% higher than the previous year. The bank`s net revenues climbed to RON 550 million in 2022, 20.1% higher.

Moreover, the bank recorded strong results in both loan and deposit volumes, reflecting its focus on ensuring a healthy and balanced portfolio. Thus, in 2022 Garanti BBVA recorded a total volume of loans of RON 9 billion, up 14.4%, and deposits of RON 10.2 billion, up 15.8%.  The increase was supported by growth in all segments – Corporate, Retail, and SME – indicating both the confidence of businesses and individuals in the bank.

With these outcomes, Garanti BBVA had its best year ever in Romania in 2022 despite persistent economic challenges.

At the Garanti BBVA Romania Group level, which brings together the bank and the two non-banking financial institutions – Garanti BBVA Consumer Finance and Garanti BBVA Leasing, the net profit rose by 16.5%, while the net revenues increased by 15.5%. The Group recorded in 2022 assets worth RON 15.2 billion, +17% over 2021. Moreover, Garanti BBVA’s strategic direction of putting customers at the heart of its activities led to an increase in the bank’s total number of customers in 2022.

“2022 was the best year ever for Garanti BBVA, with results beyond our expectations. For this, we are grateful to our clients, shareholders, partners, and employees. As always, we remained by our clients in 2022 and helped them whenever they needed us.  The significant progress we have made in all segments, be it deposits, loans or customer portfolio, reiterate our good position in the local market. With a very good start in 2023, we maintain our long-term goal of strengthening our position while continuing to be Romanians’ reliable financial partner”, said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.

Q1 2023 results

Garanti BBVA has also had a great start this year, with results in the first three months that confirm its resilient and sustainable strategy of adapting to the current economic reality. As such, the bank registered an increase of 14.7% in loans and a 15.1% advance in deposits respectively, compared to the same period in 2021. The net profit climbed in Q1 to RON 72.2 million, almost double from Q1 2022.

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About Garanti BBVA Romania

Garanti BBVA is part of the Garanti BBVA Romania Group, together with Garanti BBVA Leasing and Garanti BBVA Consumer Finance, which complete the bank’s offer with specific leasing products, fleet management services, as well as consumer loans.

Garanti BBVA România is owned by Garanti BBVA Turkey (TGB), the second largest private bank in Turkey. The majority shareholder of Garanti BBVA Turkey is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).

For further information and to stay tuned, please visit the https://www.garantibbva.ro/, and follow facebook.com/GarantiBBVARomania and linkedin.com/company/garanti-bbva-romania.

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