Garanti Group Romania, which is part of Turkish group Garanti, recorded a consolidated net profit of EUR 31.4 million in 2017, its best result since operating on the local market.

The group’s consolidated net revenues reached EUR 136 million and the total assets went up by 13%, to EUR 2.48 billion.

“2017 was our best year in Romania and we have a long-term strategy of being a trustworthy financial partner to our clients, across all business lines, and to maintain our profitability in a sustainable manner,” said Ufuk Tandoğan, CEO Garanti Group Romania.

“We are a bank of systemic importance and we aim to continue to consolidate our position,” he added.

Garanti Bank, the group’s biggest entity, reached a net profit of EUR 24 million, as its loan portfolio advanced by 8.1% and its deposit base increased by 22.8%.

The group also includes two non-banking financial institutions, namely Garanti Consumer Finance and Garanti Leasing.

editor@romania-insider.com