Garanti BBVA was named ‘Turkey's Best SME Bank’ by international publication Global Finance. The evaluation was based on data provided by banks in this business segment, with an in-depth analysis of available products and services, and inputs from industry professionals, managers, technology experts and independent research.

Türkiye Garanti Bankası A.Ş., has just reported its financial statements as at 30 September 2021. Based on the consolidated financials, the Bank’s net income in the first 9 months of the year was recorded as TL 9.071,591k. Realized Assets were reported of TL 630,848,420,000and the Bank’s contribution to the economy via cash and non-cash loans was TL 499,840,175k. Focusing on customer happiness, deposits continued to be the main funding source; 68% of assets are funded via deposits. The deposit base reached TL 428,204,119k, with 20% growth in the year’s first 3 quarters. Maintaing the strong capital stance, the bank’s capital adequacy ratio was realized at 15.65% (Except for temporary measures taken by BRSA)(. The Bank delivered an ROAE (Return on Average Equity) of 19.2%** and an ROAA (Return on Average Assets) of 2.2% ( In calculations of average return on assets and average return on capital, one-off items are not included in annualization of net profit.).

BBVA Research through its Global Economic Research area and Clarity AI, presents the "Cash vs. card consumption patterns: a Machine Learning approach" study on the use of cards and cash in the country.

Consensus Economics, one of the world´s most recognized analysis firms, has awarded Garanti BBVA the Forecast Accuracy Award for work by its economic analysis department.

The BBVA Research team has published its Economic Outlook for second quarter 2021, noting that a successful vaccination campaign, combined with low interest rates and massive fiscal stimulus, is expected to drive a strong recovery.

Spain’s GDP fell 10.8 percent in 2020 (practically in line with BBVA Research’s prediction of 11 percent) and could grow 5.5 percent in 2021 and seven percent in 2022, according to the latest report Spain Economic Outlook by BBVA Research. It was presented on Thursday by Jorge Sicilia, Director of BBVA Research and Chief Economist at BBVA; Rafael Doménech, the Head of Economic Analysis; and Miguel Cardoso, Chief Economist for Spain. Nevertheless, if the spread of COVID-19 continues to be limited and the government’s vaccination plans move ahead, the research service feels that there could be an upward bias for these forecasts.

According to the latest economic analysis published by the BBVA Research team, March’s unemployment figures remain stubbornly high despite strong increases in employment, dropping to 6 percent for the month.

According to the latest economic analysis from the BBVA Research team, February’s unemployment figures confirm that labor market conditions continue to improve as COVID-19 cases slow down, vaccination rates rise and restrictions are lifted in some parts of the U.S.

BBVA Research published its January auto sales chartbook, noting vehicle sales went up 5 percent in the fourth quarter of 2020. Sales for the year declined 14.7 percent to 14.5 million units, the lowest since 2012.