News from Garanti Bank
Garanti Bank Turkey registered a consolidated net profit of EUR 1.45 billion in 2009
15.02.2010 – Garanti Bank Turkey, the mother bank of the local Garanti Bank, registered excellent results also at of the end of 2009. Its consolidated net profit increased by more than 60% versus the same period of 2008, up to EUR 1.45 billion*, while consolidated total assets reached EUR 54.2 billion, registering an increase of 17% 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 EUR 32 billion. The return on average assets (ROAA) was 2.9% and the return on average equity (ROAE) registered a level of 27% in 2009.
"We have completed this tough year successfully with a liquid, timely positioned and well-structured balance sheet. We continued to support the economy via lending and never lost our faith in national economy even at the dire moments of the global crisis. We are proud to preserve our standing as "the largest lender of Turkey" because we stood by our customers. Our advanced risk management tools and operational efficiency are the main assurance of our performance on lending as well as our readiness against all contingencies. With this approach, we, as Garanti, prevailed through these hard times and emerged stronger increasing our market share." CEO Ergun Özen stated.
Garanti Bank Turkey continued to invest in 2009 in order to offer better services to an expanding customer base, of more than 9 million. The bank reached approximately 800 branches by adding 67 new branches in 2009, a number of 360,000 POS terminals and 3,000 ATMs.
Garanti’s achievements continued to be further acknowledged on international level. World Finance awarded Garanti as "The Best Banking Group in Turkey", while Euromoney honored Garanti with the award of "Best Managed Company in CEE". Global Finance also named 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".
Garanti Bank Romania, following the same ascending trend as its mother bank, expanded its business significantly in 2009 when its assets nearly doubled up to EUR 830 million as compared to 2008. At the same time, the loans granted increased up to EUR 550 million, by more than 50% as compared to the previous year, following its strategy of providing consumers with offers that responded to their needs within the difficult economic context.
Customers’ number more than tripled versus the end of 2008, reaching almost 150.000 by the end of 2009. At present, Garanti Bank Romania has a network of 51 agencies, 100 ATMs and approximately 5,000 POSs.