Garanti BBVA Group, net revenues of RON 263.1 million in Romania

Garanti BBVA Group Romania, which brings together Garanti BBVA, Garanti BBVA Leasing, and Garanti BBVA Consumer Finance, registered net revenues of RON 263.1 million in the first half of 2020.

Between January and June 2020, the group’s total loan volume reached RON 8.66 billion, while the overall assets totaled RON 12.03 billion.

On a stand-alone basis, Garanti BBVA posted a net revenue of RON 209.1 million, a 3.8% increase over the first half of 2019 result.

The customer base grew by 1.4%, to over 426,000 clients. The net profit in the first 6 months of the current year amounted RON 55.3 million.

As an evidence of the trust of its clients, the volume of deposits grew by 15.6% and by 14.3%, for retail customers and SMEs customers respectively, year on year.

In the first half of 2020, the POS network expanded by 17%, to 14,085 units, as part of bank`s efforts to facilitate safe and secure transactions for our customers. Total number of cards reached 306.698.

The group’s two non-banking financial institutions, operating in the field of leasing and consumer finance, also registered good results in the first semester, with a cumulated net revenue of RON 54 million and a cumulated net profit of RON 13.1 million, at the end of June.

Garanti BBVA Group Romania is held by Garanti BBVA Turkey (TGB), whose majority shareholder is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).

In the first half of 2020, Garanti BBVA Turkey posted a consolidated net income of TL 3.33 billion (EUR 434.33 million) and an asset size of TL 486.66 billion (EUR 63.45 billion), while its contribution to the economy through cash and non-cash lending totaled TL 367.14 billion (EUR 47.87 billion).

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