Business Forum • 13 May, 2024 at 10:24 AM
Garanti BBVA Romania recorded a net profit of RON 177 million in 2023 and operating revenues of RON 521 million. With these results, the bank successfully achieved its targets set for the previous year. Garanti BBVA recorded solid results both in terms of loans and deposits, reflecting the organization`s focus on maintaining a strong and balanced portfolio.
Thus, Garanti BBVA recorded a total loan volume of RON 9.2 billion in 2023, an increase of 7%, and deposits of approximately RON 12 billion, 15% higher than in 2022. The increases were driven by growth in all business segments - Corporate, Retail, and SMEs - highlighting the trust of both individual and corporate clients in the bank.
Loans granted by Garanti BBVA to retail customers increased by 19%, reaching over RON 4 billion, while loans to SMEs increased by 10%, reaching RON 2.4 billion. Similarly, deposits from individuals increased by 21%, to RON 4.4 billion, and SME deposits increased by 22%, to RON 3.7 billion.
"In 2023, Garanti BBVA continued to make significant strategic progress compared to the previous year, which was its most profitable year in Romania's history. In short, last year, we supported our customers with a growing loan portfolio and we saw an increase in customer deposits across all segments: companies, SMEs, and retail. This indicates increased confidence in our services and underscores the bank's role in promoting financial stability and prosperity. Moving forward, we will continue to place the customer at the center of our actions and commit to making a series of investments to improve their interactions with the bank's products and services", said Mustafa Tiftikcioğlu, CEO of Garanti BBVA Romania.
In 2023, the bank's total assets amounted to over RON 15.2 billion.
Additionally, Garanti BBVA strengthened its reach and accessibility, registering a 5% increase in the number of clients. The issuance of debit and credit cards also saw a 6% increase by the end of 2023.
With these results, Garanti BBVA demonstrated resilience and achieved its financial objectives for 2023, despite economic unpredictability, reflecting a solid business model, well-chosen strategic initiatives, innovation focus, and team dedication.
Garanti BBVA is part of Garanti BBVA Romania Group, together with Garanti BBVA Leasing and Garanti BBVA Consumer Finance, which completes the bank's offer with specific leasing products, fleet management services, as well as consumer loans. In 2023, the bank celebrated 25 years of active presence within the Romanian banking system.