The Romanian subsidiary of Turkish group Garanti BBVA, controlled by Spain's BBVA, announced that its net revenue rose to RON 209 mln (EUR 43.5 mln) in the first half of the year, up by 3.8% compared to the same period of 2019.

Its net profit in the period amounted to RON 55.3 mln (EUR 11.5 mln), nearly 29% less than in the same period last year.

The volume of deposits grew by 15.6% on the retail segment and 14.3% on the SME segment. The bank's client base increased by 1.4% to 426,000 clients.

The whole Garanti BBVA Group Romania, which brings together Garanti BBVA, Garanti BBVA Leasing, and Garanti BBVA Consumer Finance, registered net revenues of RON 263 mln (EUR 54.8 mln) in the first half of 2020.

The bank is currently for sale, with Hungarian OTP Bank and Intesa Sanpaolo among the interested buyers.

Recently, the media reported about leading Romanian bank Banca Transilvania having reached an agreement to buy Garanti BBVA's local subsidiary, but the bank's officials denied the information.

(Photo: Octav Ganea/ Inquam Photos)

editor@romania-insider.com