Local lender Garanti Bank has increased its share capital by EUR 22.3 million to finance its organic growth on the local market.

Garanti Bank is the tenth largest local bank, with almost EUR 1.9 billion in assets.

“Garanti Bank has made a long-term commitment on the local market, and our target is to continue our growth,” said Ufuk Tandogan, Garanti Bank Romania CEO.

The lender is owned by Turkiye Garanti Bankasi (TGB), the second largest bank in Turkey, with total assets of EUR 90.4 billion. In July last year, the Spanish financial group Bilbao Vizcaya Argentaria Banco (BBVA) took over the majority stake in TGB.

editor@romania-insider.com