Garanti Bank opens new branch in Bucharest, plans further expansion

Garanti Bank has opened a new branch in Bucharest, in Baba Novac area, this being the lender’s 80th branch in Romania. “By the end of the year, the bank we will open five more agencies – two in Bucharest, one in Cluj-Napoca, one in Timisoara and one in Brasov”, said Ufuk Tandogan, CEO Garanti Group Romania. The new branch addresses retail and SME clients and will stay open daily between 09:00 and 17:00. Garanti Bank Romania is part of financial-banking group Garanti Romania, which also includes Garanti Leasing and Garanti Consumer Finance. Garanti Bank Romania posted net revenues of EUR 57.7 million for the first six months of 2014 (H1 2014), up 8.6 percent year on year. The net profit was EUR 13.9 million, 19 percent lower compared to the first semester of 2013 (EUR 17.1 million). Irina Popescu, irina.popescu@romania-insider.com