€8.3m net profit for Garanti Group Romania in 2011
In 2011, the Turkish financial group Garanti recorded a net profit of €8.3m in Romania, a figure it aims to increase it by 50 percent this year.
Each division of the group contributed to the profit. Garanti's Bank profit stood at €3.1m, while its mortgage arm netted €2m, and its retail lending division reported a profit of €1.7m. The group’s leasings operations produced a €1.5m result.
Over 2011, Garanti's bank assets increased to €1.45bn, while its lending totals rose 19 percent compared to 2010 to €936m. Deposits totaled €467m.
Garanti Group is owned by Turkyie Garanti Bankasi, the second private bank in Turkey, with assets worth €66bn and a consolidated net profit of €1.3bn in 2011.
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