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Economic results 25 Oct 2018

Garanti contributes TL 355 billion to the economy and is the preferred Bank of more than 16 million customers

Türkiye Garanti Bankası A.Ş., released its earnings report dated September 30, 2018. Based on the consolidated financials, Garanti’s asset size reached TL 456.33 billion, while its contribution to the economy through cash and non-cash loans increased to TL 354.75 billion. The Bank’s ROAE (Return on Average Equity) stood at 17.5% and ROAA (Return on Average Assets) reached 2.0%.

Commenting on the topic, Garanti Bank CEO Fuat Erbil said that ‘we finished the third quarter of 2018 with a solid balance sheet, well above the required level of robust capital and liquidity, thanks to our successful management of challenging market conditions. In line with our sustainable development priority, our contribution to the economy reached TL355 billion. Our stakeholders’ trust in our bank and our focus on customer, human and operational excellence helped us overcome these challenges as one strong team. The number of customers who prefer Garanti exceeded 16 million. We increased our customer deposit market share to 11.9%, building on our customers’ trust. We pioneered a new era with our innovative service model, capturing the benefits of digitalization, where customers can enjoy a comprehensive range of amazing services from a single point in the fastest and easiest way. We continue our work for an inclusive economy to bring the opportunities of this new era to everyone, support active participation of women in economic life and contribute to the development of Turkey’s entrepreneurial ecosystem.’

“We finished the third quarter of 2018 with a solid balance sheet, well above the required level of robust capital and liquidity”.

Earlier this year, Garanti was named “Best Retail Bank in Turkey” by World Finance Magazine and “Best Retail Bank in Europe” by European CEO Magazine for its innovative customer experience projects and solutions, the digital transformation of its branch network , as well as its instant e-commerce loan product. Regarding these achievements, Erbil said: “The international recognitions for our innovative projects on digital transformation and customer experience motivate us to excel and provide our customers with an excellent end-to-end banking experience. In the report published by Forrester Research, our mobile application Garanti Cep was named ‘Europe’s Best Mobile Banking Application’ in the user experience category and earned the second overall socre after BBVA’s mobile app. Furthermore, Global Finance named Garanti ‘Best Consumer Digital Bank in Turkey’ and ‘Best Consumer Digital Bank in Mobile Banking in Western Europe’. On behalf of Garanti and Turkey, we are proud of these achievements. I would like to thank all my colleagues and our stakeholders, who trust and support us.”

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