News from Garanti Bank
Garanti Bank Turkey registered a consolidated net profit of EUR 1 billion at the end of Q3 2009
Bucharest, 12 November 2009 – Garanti Bank Turkey, the mother bank of the local Garanti Bank, registered excellent results in the first 9 months of 2009. The consolidated net profit increased by 46% versus the same period last year, up to TL 2,158 million (approximately EUR 1 billion). Consolidated total assets totaled TL 112 billion (EUR 52 billion), registering an increase of 13% as compared to the end of 2008. Garanti continued its contribution to real economy, reaching an amount of cash and non-cash loans granted of TL 69 billion (EUR 32 billion).
“Garanti sustained its strong performance with its sound balance sheet structure. As the largest lender in Turkey, Garanti continues to support the national economy and extends its distribution network. With over 750 branches, Garanti leads the sector with its advanced products, and by increasing their market shares. As the number one bancassurance company with strong distribution network, in 2009 every one out of four private pension plan sales were through Garanti. Garanti Mobile Bank, launched at the end of 2007, has now over 200,000 users and more than 100 million transaction volume per month.” CEO Ergun Özen stated.
In the first nine months of 2009, Garanti initiated many successful projects not only domestically but in international platforms as well, in the field of payment systems which has important implications in downsizing the unregistered economy. The bank added Money and Shop&Miles cards to its contactless payment system. Garanti started its contactless payment system in 2002 with the credit card Bonus Card with PayPass technology from MasterCard, that reached 800,000 contactless cards at the end of October.
“With a branch network of 750 units, 2,600 ATMs and more than 350,000 POS terminals, we continuously endeavor to meet customers’ needs.” Ergun Özen further stated.
Garanti’s achievements continued to be further recognized both on domestic and international levels. Euromoney named Garanti as “Best Managed Corporation of the East and Central Europe”, while Global Finance awarded Garanti as “Turkey’s Best Consumer Internet Bank”. Within the same ceremony, Garanti Bank Romania was awarded “The best consumer internet bank in Romania 2009”.