Garanti Bank Romania ends Q1 with higher revenues

Local lender Garanti Bank Romania ended the first quarter of the year with net revenues of EUR 33.2 million, up 17.6% year-on-year. The bank also registered a net profit of EUR 4.9 million, it announced. Garanti Bank’s overall loan volume reached EUR 1.36 billion, representing a 19.6% increase year-on-year. SME lending grew by 12.5%, corporate lending by 8.5% and retail lending by 34%. Customer deposits registered a 61% growth in volume year-on-year. Garanti Group Romania registered EUR 39.3 million consolidated net revenues in the first quarter of 2015, up 14.9% compared to the same period last year. Its consolidated net profit reached EUR 6.9 million while the total assets amounted to EUR 2.1 billion. Garanti Group consists of Garanti Bank, Garanti Leasing (the brand under which Motoractive IFN SA operates) and Garanti Consumer Finance (the brand under which Ralfi IFN SA operates). It is owned by Turkiye Garanti Bankasi (TGB). The group’s non-banking institutions also registered a net profit at the end of the first quarter: Garanti Consumer Finance - EUR 1.3 million and Garanti Leasing - EUR 0.6 million. Irina Popescu, irina.popescu@romania-insider.com