Garanti BBVA Romania records 191 million RON in profit in 2022, up by 34 pct v 2021

Garanti BBVA Romania records 191 million RON in profit in 2022, up by 34 pct v 2021.

Garanti BBVA, a bank part of the Garanti BBVA Romania Group, achieved a net profit of 191 million RON last year, up 34.3 pct compared to 2021, and net revenues of 550 million RON, 20.1 pct higher, according to a press release sent to AGERPRES on Tuesday.

"In addition, the bank recorded solid results both in terms of the volume of loans and deposits, which reflects the attention paid to ensuring a solid and balanced portfolio," the bank's representatives claim.

So, Garanti BBVA recorded in 2022 a total volume of loans worth 9 billion RON, up by 14.4 pct, and deposits of 10.2 billion RON, up by 15.8 pct.

"The increase was propped up by the growth of all business segments: Corporate, Retail and SMEs, which demonstrates the trust of clients, both individuals and legal entities, in the bank. With these results, 2022 becomes Garanti BBVA's best year in Romania, performance registered despite the economic uncertainties," the press release states.

At the level of the Garanti BBVA Romania group, which brings together the bank and the two IFNs, Garanti BBVA Credite de Consum and Garanti BBVA Leasing, consolidated net profit increased by 16.5 pct, while consolidated net revenues increased by 15.5 pct.

The total volume of assets of the Group advanced by 17 pct compared to 2021, to 15.2 billion RON. In addition, Garanti BBVA's strategic direction, focused on customers and their needs, led to an increase in the total number of bank customers in 2022.

Garanti BBVA also had a very good start to this year, with results in the first three months that confirm its resilient and sustainable strategy for adapting to the current economic reality. Therefore, the bank recorded a 14.7 pct increase in loans and a 15.1 pct increase in deposits, respectively, compared to the same period last year. The net profit rose to 72.2 million RON, almost double compared to the first quarter of last year.

Garanti BBVA is part of the Garanti BBVA Romania Group, together with Garanti BBVA Leasing and Garanti BBVA Credite de Consum, which complete the bank's offer with specific leasing products, fleet management services, and consumer loans. Garanti BBVA Romania is owned by Garanti BBVA Turkey (TGB), the second largest private bank in Turkey. The majority shareholder of Garanti BBVA Turkey is the Spanish financial group Banco Bilbao Vizcaya Argentaria (BBVA).