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Finance

Finance

Türkiye Garanti Bankası A.Ş., announced its financial statements dated September 30, 2017. With an asset size of TL 339 billion 679 million 127 thousand, Garanti’s contribution to the economy through cash and non-cash lending reached TL 274 billion 87 million 604 thousand, based on the consolidated financials. The Bank posted a net income of TL 4 billion 685 million 989 thousand in the first 9 months of 2017. The Bank delivered an ROAE (Return on Average Equity) of 17.4% and an ROAA (Return on Average Assets) of 2.0%.

Every quarter, BBVA rolls out new products and functionalities, delivering new amazing experiences for its mobile and online customers to enjoy. By year end, the bank expects that about 92% of its current product portfolio will be available on its digital channels in Spain, as well as to be able to continue making progress in its other franchises. BBVA CEO Carlos Torres Vila explained how this effort is having an “impressive impact”, as evidenced by the exponential rate at which digital sales are growing. Digital sales account for about one fourth of the bank’s total, with more than 3.5 million units sold between July and September.

BBVA CEO Carlos Torres Vila today explained, following the publication of the third quarter 2017 results, that in the first nine months of this year, BBVA earned 3.45 billion euros, 23% more than in the same period last year. “These excellent results prolong the positive trends we saw in the first two quarters of the year. The two key aspects fueling earnings were the growth in recurring income, and a great control of costs. On top of that, the decline in impairments is very positive and we also generated capital once more this quarter".

In today's society, there is an increasing demand for sustainable growth and development. To respond to that demand, there are financial instruments such as social bonds, whose resources are by definition destined for projects that improve the social environment. This market has already reached 25.5 billion euros.