News from Garanti Bank
Garanti Bank Turkey registered a consolidated net profit of more than EUR 1 billion in the first half of 2010
4.08.2010 – Garanti Bank Turkey, the mother bank of GE Garanti Bank subsidiary, posted a consolidated net profit of EUR 1.07 billion and consolidated total assets of EUR 62 billion.
Garanti Bank Turkey continued to bring its contribution to economy through cash and non-cash lending that totaled approximately EUR 40 billion. The Bank delivered a ROAA (Return on Average Assets) of 3.5%, while the ROAE (Return on Average Equity) reached 28.4% at the end of the first semester of 2010.
“The ongoing improvement in non-performing loan portfolio volumes and the high performance reached in total loan quality attest our belief in continuing to stand by our customers throughout the most challenging periods. Our growth in loans and deposits continue. Especially the 15.4% market share in demand deposits represents our customers’ trust in us. We continue to be the market leader in mortgages. With a portfolio reaching a total of 15 million debit and credit cards today, Garanti is the leader in number of credit cards, issuing and acquiring volumes.”, CEO Ergun Özen, stated.