Garanti Bank has become the largest private bank in Turkey in time deposits and individual loans as well
Already a leader in housing loans and cards, Garanti Bank became Turkey's largest private bank in 2018 in all individual product groups by rising to the leading position in individual loans and time deposits. According to the results of the third quarter of the year, Garanti ranked top as the preferred private bank in terms of time deposits after individual loans. The efforts in the retail banking sector have contributed significantly to the successful performance of Garanti Bank in the third quarter.
With more information on the subject, Mahmut Akten, Garanti Bank Executive Vice President, explained: "2018 has been a year in which we reassessed our bank's deposit management while preserving our existing customers. We made significant operational improvements to meet customer needs. With the guarantee of Garanti expertise, we strengthened the loyalty of our existing customer base and increased the number of new customers who want to work with us, by offering transparent and accessible new solutions for them through our branches and digital channels. As a result, we have grown to a leading position by expanding our extensive deposits."
Noting that they have achieved a high momentum in consumer loans with the effect of growth in the overdraft account, Akten added: "Nowadays, the consumption habits of our customers are shifting more and more to digital platforms. We are maintaining the pace of our investments in order to support them with appropriate solutions at a time when our customers need credit. The Garanti Shopping Loan, which provides instant support to our customers who need credit when shopping, stands out as one of our innovations in this regard."
"This year, it filled us with pride that we have become the largest private bank in Turkey by extending our leadership to time deposits and consumer loans. Also in the retail banking sector, Garanti was selected as Turkey's Best Retail Bank for the fourth consecutive year by World Finance for its "customer experience, digital transformation in the branches, innovative projects and solutions for the e-commerce sector"; and also as "Europe's Best Retail Bank” by European CEO Magazine. Our achievements are increasing our motivation and setting our bar higher to provide better service to our customers."
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